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tv   Growing Pains  Al Jazeera  January 29, 2019 3:00pm-4:01pm +03

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well you are. all. going at it because israel is setting out to give way to deal the reality on the ground and the reality on the ground can only be can you imagine all the people that's what we do i think that's what we do well. i'm sam is a down and down how they look at the headlines here in al-jazeera now the six week old cease fire in the any port of a day the appears to be on the brink of collapse fighting has fled as well as in the outskirts of the capital sana'a and the retired dutch general in charge of the un brokered truce step down one person has been reportedly killed in a suicide bomb attack in northwest syria the blast targeted a court building rather in the rebel held city of it lived a number of civilians have also been wounded pakistan's top quarters up held
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a decision to acquit a christian woman who had been sentenced to death for blasphemy bibi spent eight years on death row for insulting the prophet muhammad her acquittal last october sparked death threats nationwide riots by religious party supporters and an appeal for a review of the decision wrong. has more from the supreme court in the slum about. the pakistani supreme court has dismissed the review petition filed by that very good law back pakistan which protested against the acquittal b.b. in a landmark ruling of the supremes court on the thirty first of october the supreme court took up that protection and was not satisfied with the arguments of the petitioner saying that there were many discrepancies and the accounts given by the witnesses as relevant as loopholes in the prosecution that supreme court
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therefore freeing are baby however because of the danger to her life she's being kept at a protected place undisclosed location and it is likely to fly out to canada where a she's been given political asylum also the fact that her daughter they've already been transferred to canada that is slated for a reaction from the religious parties particularly the dating back pakistan which was that the full front of the protest in pakistan following bibi the acquittal however the government is gone for doing that they will be able to deal with that situation because they have had the leaders of that thirty caliber back pakistan including causing more sandridge we arrested a few months ago and therefore has taken the steam out of the protests they said indeed a landmark case that security forces are on high alert just in case did the reaction
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across the country. the un special rapporteur on exit is meeting or stumbles chief prosecutor agnes and their friends who can legal tomorrow in a week long visit to turkey to investigate the murder of saudi journalist jamal. they've not had access to the saudi consular though way that's killed in october. at least thirty thousand people fled the nigerian town of ran over the weekend fearing an attack by the armed group ahead on u.n. spokesperson says people panicked after security forces who were there to protect the town left. china says it's concerned and disappointed after the u.s. justice department announced criminal charges against telecoms giant or and its chief financial officer the accusations include fraud and theft of trade secrets beijing is urging washington stop what it calls the unreasonable suppression of chinese firms who is now available for sure just as the foreign ministry said with
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no evidence they're using the state power to discredit and attack dissimulated companies this sort of behavior is unfair and immoral as the department responsible for the sea industry we consistently encourage chinese companies to act in accordance with international rules and market principles and develop foreign economic cooperation on the basis of abiding by local laws british m.p.'s are due to vote in a few hours time on what happens next it will be their first chance of proposed their own solutions to break the breaks it deadlock after they overwhelmingly rejected the prime minister's draft agreement earlier this month a brazilian mining company says it's cooperating with prosecutors after three of its employees were arrested and with their alleged role in the dam collapse it's growing pains now stay with us on al-jazeera.
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you're. the view growth of something positive. it's grade watching our kids grow up or seeing a tree grow. it we always aware that all growth must come to an end. there's a limit nature knows no such thing as infinite growth this route seems to apply to every kind of growth but one economic growth is somehow supposed to continue indefinitely. we believe them and now there are no limits to growth and human progress when men and women are free to follow their dreams and we were right . if that growth fails to materialize we panic but why.
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does one person recognize the hundred fifty years ago growth is the fundamental principle of our economic system capitalism only works when the economy grows but karl marx recognize something else as well it is this growth that will eventually destroy the system itself and today. have through each that point is the system about to collapse or might infinite growth actually be possible. the governments don't want us to even question the g. word they don't even want to put a discussion around growth if you're looking at this from the outside it an alien arriving from outer space and you're looking at the society. you would really wonder what was going all what are they doing what what is this gross that has to appear in every political sense on some is the basis of every economics textbook
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what is it all about is it or is it a religion that they have is the god that they're chasing is the virus that's taken over them. what is this visceral fear that emerges as soon as growth starts to go away. and he sells off to one of vox storm kindness garnished gave the well to do from is it the mention the of it was not available because you didn't talk back storm.
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fault a guy who just faxed them style gets filtered out sucks them into finding and semen is the audience that's outfox them and what is being that which is the politics fast senior to butter women up and and because if what. mediums the politic can come. on better be fickle. it's a long as mention of the planet and keep to. the bucks to get a huge how does fit in the back off. where does this unshakeable belief in economic growth come from. has it always been there. is a drill e part of human nature. it
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was raw data was under imaginative use of mass production methods but there was a lot there was able to perform much more time marable to build more planes but all the united nations but together to turn our ships at the rate of two hundred a month jobs which carried over the years beyond might of the united states to decide the outcome of a war. the success story of economic growth began during world war two mass production of tanks and aircraft let the american economy out of crisis the output of military equipment was now calculated by a new statistical measure of gross domestic product or g.d.p. if production i.e. g.d.p. grew and so depressed purty americans believed so firmly in this new formula that they compel their allies to bring they can elect policies in line with it from then on it wasn't people's incomes that counted it was only growth and it turned out to
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be such a useful measure actually for the war effort and for understanding the war effort the oft awards became the single most important policy number. across the world it kind of symbolizes progress to us sort of says while things are getting bigger so they must be getting better that was the us of the g.d.p. . in the three decades after the war the western economies grew up to eight percent annually in the u.s. they called it the golden age of capitalism in france they were the thirty glorious years in germany it was the economic miracle an entire generation enjoyed material prosperity and full employment and this became engraved in the collective consciousness even though these high growth rates were only made possible by massive water destruction the believe in growth was now unstoppable. g.d.p. became the most important benchmark in history.
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and the economy in the grace of economy was doing a good job force when when we were young if you like when as an economy as a society we were young and one of the really important things to say is that there are some societies where that is still necessary where you still need that growth where you still need food clothing and shelter whether very very poor undernourished people living on less than the price of a skinny latte from the cafe downstairs and that's why that's a situation where growth makes some sense. but the idea that as human beings all we want is more more stuff doesn't really stack up so after a certain point you have to ask yourself well how much is enough how much how much more do i need to great economy to satisfy human appetites. the nineteen seventies so our growth rate sink for the first time due to the op crisis and not affect us the boom was over the market saturated western economy
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stagnated millions suddenly found themselves unemployed it was uncharted territory . for the first time the limits of girls became visible economically socially and ecologically. we do have some understanding about growth. in one hundred seventy two a group of scholars commissioned by the club of rome presented a report in washington and tied to limits to growth using a computer simulation researchers at mit had calculated for the first time what continues economic growth would do to the planet's they're finding set off alarm bells around the world when resource consumption is doubling every twenty years for the first time people were confronted with the fact they can only grow it could also have negative consequences and that the planet's natural limits would soon be reached the success story of growth was in crisis we've reached levels of
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prosperity which carry the seeds of disruption and necessitate a complete relook at the whole world social political and other situation. the top of rome report sold thirty million copies and became a global sensation. and soon this calls themselves came under attack their calculations ready tried as irresponsible fear mongering because it's impossible to admit the end except for the success story of growth. must continue. unfortunately many of the so-called us predictions turned out to be right and in many cases reality even so possibly predictions. that's the cover for only because it was causing an international uproar the brazilian rainforest and the amazon basin were still nearly untouched the huge
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brazilian state of much of grosso largely populated by indigenous people consists of a forest and seventy today but much of that is left since the mid eighty's progress aided by international investors has been eating away at the rain forest thirty five football fields of forest disappear every minute it's been the same story over and over again lumberjacks move in first thank cattle breed s. and finally the soybean variants. a lot of it last. is one of one point containers is new on the nail your. aesthetician know what automation all good wheezes shall not approach coming at the bare billows will ferrell but as the leader of being their god but on knowing that god is following us cie they all bear with us as i do as i am the
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ear wars the dance of the fuzzy and the keep thing they've each quater of it seems were stamped their heads they are. in at did as society as build the cheer has been from flightplan from the merely meant them to mean that you. must or noms a loss when you see it get your cup down must own all dog and it was. a mark will catch it the gap is there by god only could boston broke without borders as the clue she. has been a fierce with the settlement. losing. the tropical climate and industry to four harvests pay year and with that massive profits soy and corn for export an animal feed. i mean one sixty three is the gateway to the amazon basin at the end lumberjacks money and destruction into the forest. today countless trucks lined the
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agribusiness highway transporting their valuable cargo to the international ports. they pass and enter the sea of soybean fields enormous silos and slaughter houses through one of the largest boom regions in the world growth rates of up to twenty percent business. and the savage beasts is region it was just lived by indians it's just amazing forest. thirty forty years just off colonization and it's the most important region nagra business off the country. it's the right place to make new investments to make money. you carol a good part exported to russia china and in other countries. do
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you see any limits no limits to the sky we have and the limits. in response to the crisis of the seventy's economic policy underwent a change of course new growth had to be followed no matter what the cost even if that meant only seeing the prime and falseness of china's capitalist. these had been contained after world war two because there were hundreds possible for the great depression and the war itself. i think. monetarism was a new magic word. monetarism was the idea that if you put more money into the
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economy liquidity it was cool that additional money in the economy would help really best that would help give a small production that would allow us to consume more goods and we would get growth back again so this little hiatus if you like in the seventy's primarily caused by the oil crisis led to a transformation in the economics of society and in particular how we think about right now we think about stimulating growth i think. governments deregulated financial markets banks insurance companies and investment funds gains in influence and we're now allowed to gamble with currencies stocks even with people's retirement funds capital was that lose and the financial sector was flooded with my.
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it was a pact with the devil and the beginning of the slow process of self disempowerment in exchange for growth governments relinquish the power to financial markets but who do we mean by financial markets and capital and what does it all have to do with us. the ends group is europe's biggest insurance company and one of the biggest players in the global financial markets. it's been fun filled six hundred million oil different from four hundred million fifty leaves so see shown at one hundred billion for the software c.e.o. in the leaves to see shown leading via the four saw get one's o'quinn nine fifty she went on my country to so for stay in. the us via some us bit of figure one inch oh and base your pick your own inbox in uk too is wolf in
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a party for mukesh titan a decent box to pop it's a peon so by spirit box investments invested two one in it will be in an in foster to investments in autobahn and would literally zero in a modern city to. be some oh i was one of the positive closed in in china therefore also on a show all of some kind of one of both and in the developed markets in europe and us. they also known you will strive us to be seen as we could never knock to a finance if a few of what's in it is if you put sand it's a high miss and via in so going to invest even the high sheen visteon as acts in him obedient it's at the law. as a given in the token fini gun opining given me a in didn't shed and then he and than his facts to me indecent and on
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a book least we'll have to duck and. and if they hit the tough titty it's just team on the box to mystique nucleus is to stand to push it over that i knew was an invoice and nine as ish much to me i'd have it torn if i was to be forced. thank you sandy six a gothic anointed aiyana will miss he thought he could touch up the subjects to record all cars full cost by this thank god to six months i thought to acquittal his full cost pun. another of millions of insured individuals is sent on its way to multiply when andre has group team has a rough idea to which countries and sectors the billions that flow they hire an asset manager he determines what stocks or bonds to invest and. most of our clients are institutions what they want is they want their their money invested
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in the capital markets. our customers expect their capital to be returned they want their money back and they want a return on that game and the mobile growth there is another agenda. well why i'm commander just one point two trillion euros obvious it and in germany we're managing four hundred ninety billion euros of a sense of. the financial markets they have a social role in distributing people's savings towards investment and that investment is usually a form of there so when you get you take out a loan for example to buy a house that line could end up in a bond and we could end up buying that phone so growth is important so that individuals and companies who borrow money in the capital markets can actually pay those lines back. with
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a less free trade when he said thank you just. imagine a world with zero growth that's a world in in which pretty much everything gets frozen if you haven't got a job in this new world with no growth bad luck. you're going to have to wait for somebody to retire before maybe you get their job . a society without growth probably won't work at all not for long. it would be jerry and to collapse. without growth societies would descend into chaos according to the financial and political elite. but is that really the case isn't it rather the blind faith in growth that leads us to chaos. in the eighty's the world of finance operating from the city of london and wall street increased its
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influence and governments and societies and became the driving force of capitalism today financial markets not governments determine their wellbeing of enteric countries. how did it come to this how could financial markets gain such influence over our lives. one person who knows the financial world better than almost anyone this year at college for nearly thirty years you were the successful fund manager on wall street and in the city of long. known of times people i was a scientist and i've been offered twenty times in pounds to go and stone wall street in one thousand eight. and i was one of the last i was the beginning. and we went into the new era of reagan thatcher and liberal trade the so-called big bang in the city was all about financial deregulation let's go let the market
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decide and let's hire people and let's see what happens yes i suppose this really kind of controlled atmosphere which we had before and it was that we walked into where money now talks now money wins and you need people small people to trade the markets and make finance the powerhouse behind capitalism which is supposed to be. the plan seemed to work the stock markets built roads no longer needed to be financed by increasing wages and tax revenue now it was all about credits governments and individuals whether to take out loans from banks and investors. so that they could be good consumers and thus generate. credit cards come along overdraft so to use lending for houses becomes widely
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available and it's at that point that explodes that now it's not just the very wealthy have access to all these things consumerism is now people lower down the income scales as well and if you look at money supply in the in supply credits in the early eighty's it just explodes. in access to consumerism and promotion of current consumerism close debt which is created the growth we created and where we are today. the cold logic of the market to go over producing winners and losers. one of the people who knew best how to profit from this new logic was donald trump . i really think i have an instinct but i don't think it's the instinct shock i think it's the instinct of of maybe getting what i want or knowing how to get what
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i want. only if you recognize the profit of that unit he's in this new era as well as donald trump he made large scale purchases of derelict new york apartment blocks and promised to transform them into next three hotels and apartments to see financing from banks high on the market boom and through the largest tax break in new york city history trump himself had practically nothing will happen is an incredible place where you build a huge building in a sold out in a matter of days i mean you know you build a building with literally three or four hundred units on building a building is one of the hottest buildings anyone's ever seen is just selling like a clear cut case of manhattan itself is becoming a place of the rich period. the genie was out of the bottle the brave new world of finance or capitalism could no
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longer be constrained and great efforts were made to set it as a controllable and secure system. the whole industry is based around a kind of illusion and the illusion of certainty there is a vested interest if you like inside of the system is to project knowledge and extra knowledge. but they really don't have any more knowledge than. every armed attack in europe creates fear and division amongst its citizens. stories of loss go on told. a sweeping association of islam with violence leaves europe in this lens facing the stock reality of being ostracized by the very
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communities in which they live love and moon the tragic loss of life twice evict and on al-jazeera. in a world where journalism as an industry is changing. fortunate to be able to continue to expand to continue to have that pass and drive and present the story in a way that is important to our viewers. everyone has a story worth hearing. cover often ignored we don't weigh our coverage towards one particular region or continent that's why i joined al-jazeera. faced with growing financial burdens that separate money for student loan this chase credit card leaves me twenty nine dollars twenty one cents. i don't have a husband left me a pension my future scares me because i don't want to struggle as the dream of
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retirement fades away. do something to keep it above water. on al-jazeera. i'm sam is a that i'm in doha with a look at the headlines here now just the six week old ceasefire in the emily port of her data appears to be on the brink of collapse fighting has fled in a day there as well as toys and on the outskirts of sana'a the retired dutch general in charge of the un brokered truce stepped down one person has been reportedly killed in a suicide bomb attack in northwest syria the blast targeted a court building in the rebel held city of live a number of civilians have also been wounded. pakistan's top court has upheld the
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decision to acquit a christian woman who'd been sentenced to death for blasphemy bibi spent eight years on death row for insulting the prophet muhammad her acquittal last october sparked death threats nationwide riots by religious party supporters and then appealed for a review of the decision from on high that has more from the supreme court in the slammer bad. kemal isn't with us now it's come back to later or the un special rapporteur on exit meeting is down balls chief prosecutor agnes and the forensic and legal team are on a weeklong visit to turkey to investigate the murder of saudi journalist. they've not had access to the saudi consulate where he was killed in october. at least thirty thousand people fled the nigerian town of run over the weekend
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fearing an attack by the armed group boko haram a u.n. spokesperson says people panicked after security forces who were there to protect the town left. and disappointed after the u.s. justice department announced charges against telecoms giants. the accusations. of trade secrets beijing is urging washington to stop what it calls the unreasonable suppression. and you can keep up to date with all the stories we're following here. if you have a website. called. growing pains.
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the view growth is something positive. it's great watching our kids grow up or seeing a tree grow. it we always aware that all growth must come to an end. there's a limit nature knows no such thing as infinite growth this ruth seems to apply to every kind of growth but one economic growth is somehow supposed to continue indefinitely. as one person recognized the hundred fifty years ago growth is the fundamental principle of our economic system capitalism only works when the economy grows but calm ochs recognize something else as well it is this growth that will eventually destroy the system itself. and today have three weeks that point is the
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system about to collapse from an infinite growth actually be possible. the bloomberg company from new york place a central role in the financial system since the nineteen eighties who has provided stock traders and bankers with lightning fast price fluctuations and finance data from around the globe making it one of the world's most influential media companies . around the clock bloomberg news agency in stock market channel broadcast the glad tidings of the free market. our role in financial markets is as a provider of transparency i would provide a huge amount of data you should not have numbers on markets on economies all companies providing that chronicle of capitalism tell a story of money vitally important to bloomberg are central to what we're about dollars. and across dangerous as one of us deported numbers we look for if i say. score on the on the stated economy steady solid growth in financial markets do
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usually reflected in solid growth. in economics in demand in jobs markets reason is that people feel wealthier if you look at the textbooks there should be no limits to growth but if you look in the newspapers at the moment you get the feeling there is a. growth in the central question now is whether we're in a cyclical slump or there's something structural is going on biggest. by release of systems based upon people remaining to have confidence in the information they're giving out and the promotion. of the ideology and the narrative which finance is based around which is increasingly become this kind of game show pros and. for a period time everybody wins. and then there's you know a number of economists marx keynes and pointed out is eventually all these means go
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on and the question. to those heavy lobbying by the financial sector on the government to ensure actually that this financial sector growth could continue and governments believe that it was in the interest of the economy because everyone told the monitors and told them that if you had all this liquidity in the system then you must be growing your real economy but actually what was happening within that system rather was that you freed up all this money which was then used to bet on the increases in the value of certain companies and certain shares and of money itself in the system and the people who were doing that betting were not only profiting from it but they were also the only people who were regulating the system so it created a huge unstable and incredibly. equal system in which the rich got very much richer really very fast. for
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decades society has been transformed into an enormous market to which there's allegedly no alternative. the huge sums few in the financial markets scream for high returns and have penetrated every corner of the globe. new ways are constantly sought to expand profits already in the trade. the road seems to be getting to small for the capital. when i was a kid i couldn't afford to fly in an airplane i actually joined the air transport industry before i ever flew in here. today people take flying for granted it shaped the way we buy goods it shaped places people go to shape the meetings between
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people and different cultures. over the next twenty years we expect the world to meet thirty two thousand new civil aircraft. at the moment around one billion of the people who live on our planet fly by air regularly. the remaining six billion don't yet fly by and it's these people who will be tomorrow's passengers and tomorrow's customers in addition for those of us in developed countries who take flying for granted. have to live over the last six years more than one hundred brand new airplanes to
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charge. on airplanes every string days the changes. that take hold. as our years a tale or something to turn the bible belt. up some time. you know all that well. i thought was how much i want to get the long run even though currently we have slightly more than two hundred alcohols in china intent and every year in a range of ten or fifteen and you have possible to be viewed imagine if everybody cannot fault. travel expenses even a peasant was low cost the business water a worker is willing to travel by the market is fantastic you can't imagine
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and i i already seems that this is a sign of that that's why when i look at it every time i'm asking about the perspective of the market i cannot imagine as a dime ation of this market when i have to reference one point four billion which is even more important than the europe and more atrophied small bhushan what do you do about that we made every single effort to try to reduce as emissions but if we look at it as a social benefits as economic benefits as aviation industry or bring to the humanity and then people may think differently. we. are trying to make as well as smaller and smaller. to make it to a real village. for
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decades growth was kept on life support with debt only if you had the courage to say that the party couldn't go on forever but no one listened to them. in september two thousand and eight the time had come the house of cards collapsed it's a black monday for the american capital market despite dramatic rescue efforts over the weekend all efforts to keep the world's fourth largest investment bank alive have failed lehmann brothers is shutting its doors for good it's also i think a necessary part of the cleanup process i mean we knew it was weak we expected to
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go it's not going in the way that people expected it to but it's gong. the long run i'm confident that our capital markets are flexible and resilient can deal with these adjustments for a long time so that. there was a deep shock in the system that was a sense of my goodness we can't let this happen again governments have to have a better handle on this system and for a while there were attempts to do that it lost it probably a matter of a few months in fact by the end of two thousand and nine and into two thousand and ten. the very same companies a been responsible for some of that disaster was still engaging in those same kinds of risky trading procedures that for a while had been stopped in the wake of the crisis and we learned a lesson. but then we forgot again.
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the financial crisis was a huge opportunity for governments to free the world from its dependency on financial markets and to change the system but they wasted it instead they did all they could to revive the old system spending trillions of dollars to save the banks . then something incredible happens the banking crisis miraculously became a sovereign debt crisis private debt became public that governments and the citizens are subjected to a sturdy policy is under which millions of people suffer to this day. banks and stock markets however keen to demonstrate a sense of normalcy as soon as possible in reality nothing is as it seems capitalism survived the crisis but no longer functions like it once did.
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even though it's not as busy as it used to be this is still the center of capitalism you can look at all the tourists who are outside the building taking pictures they all still believe this is the center of capitalism it's a symbol. of something that means something to that. ten percent i'm sort of like the weatherman for the stock market i come in every day and trying to figure out what's going on in the stock market i talk to trading desks i talk to analysts i talk to people who know a lot about the stock market and i go on the air and on the internet and explain what's going on. remember the s. and p. five hundred dollar is down one and a half percent this month we have very clear market leaders and the reason we've had it is because the better prospects for earnings in the fourth quarter remember what the market leader said then energy tech invents lagging today energy tax in banks that's interesting you know fix this. but it's you know if i could just
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change rather. human beings want stories they don't want an endless list of numbers nobody is impressed with a list of numbers they want to know what's going on tell us in plain english what the markets for doing and that's the real skill set and often that's not easy because things are very complicated. people have always claimed that capitalism can be evil and capitalism doesn't help people i completely disagree what i see in the last hundred fifty years is millions of people have been lifted out of poverty i personally am a true believer and still believe that the system works well and i'm committed to that system.
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as it undefined now and then new york of all the bonds that fall from the housing mentioned off the market. dimensions and into the detestable because you're going to fall into this form of these instructions tells me it's in the wind as the hell is. facade in the housing this is one of the new york stock exchange this. isn't this it's the machine just about wins. we are into acting cause of death. and even given that every which off the top nothing to give in that is going to. come on the scene and. have been known to the i love the bells. but it was incontinent while kind of talks to me getting tired given. the. police towels competition. up.
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i think what we've seen over the last few years is cracks in the in the shiny surface of capitalism. and a first that's what they look like you know they just look at something not quite right. the way the light reflects off it and as you look more and more closely. you see this you see that these cracks gay rights of the heart of the model they go right to the heart of the basic ideas of capitalism. does capitalism is to work. the system deliver what it promises. providing growth jobs and prosperity for all.
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the on both sides because your new smart factory in the see this is just. fine let's put it. in the middle on the one with your income and to save all in you're. not tunisia's as long as it's you just like you're in study of a couple it's a good idea ha but the life of the soul. on a lot of. unix boxes been diminished. and all but that's a mistake on the bend us on the on the bad self you can find don't understand. this is all by not talk as it's box that was on the top is that in the book is that's come mostly for she's. ever since the industrial revolution machines have been replacing your labor thereby causing great societal upheaval it's. that until recently they have only replaced the physical labor of humans. now machines are capable of doing what makes us humans unique they able to think it's
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a completely new chapter in human history which will have massive consequences on how we live and work. can technology thanks watson can. i mean want to as a technology i'm like any that's come before because rather than force humans something like a computer watson or. oxygen humans on human terms. sepsis twenty students is among the dead because of cockney teeth least on testes esteem and off the company. and dom it's been a star kids and kids and so i sense his theme in how to bite something langston imports in full view not find that to discus something contexts into t.v. i'm hesitant to sustain begin to laumann untimed was entirely deceive us also did not have hospital was just him all talk and on to it. if you're interested in
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checking it that you're a spectator stand evolution's it make special notion take great great gesture. as well as carry the rights of a mystery mission get guess who can be able to do it the right people. is to keep it from me michael himself role thanks to interact with and thinking and showing. think that he. isn't me stop by and zoom in on a farm said bob so shuffle and getting tired here i can finish the day and never get off them in a clear t.v. ted sometimes that's bubbling on and just how true in extremis if an extremist previously. in the future agribusiness and robots will be able to carry out nearly every would seem to ask previously promptly . of jobs who. these new technologies by the conduct of growth but that much in the way of justice and that could endanger capitalism and so. be able
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to access all the nice things mass produced every day and there are not enough people who can pay for them with their wages. in financial markets algorithms have long since been running the show computers interact with other computers and fractions of seconds without any human input. in this room that's what we do here we have an on off switch right moves there's really no human in our bench and i really don't believe in leaving the room
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and letting you know something trade on attempted it's about being there with the creation you know you've worked on. you know even if i don't i don't know you don't control it but you watch it is it doing everything they designed it to do . there are many mathematical models that come out of fields such as horse betting that are used and our business as is kind of fundamental pieces of algorithmic trading we somehow project and then our couple this society this idea. that that this is a safe environment for people to build up their rear tire meant time is actually a hyper competitive environment and. depending on the product there's there's you know sometimes i feel safer going into a casino than trading certain products in our space i mean. it is
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a very different world than the way it's advertised to the general public. financial markets out of control and no longer have any connections to reality. while algorithms and robots produce growth they only provide work and prosperity for a few and it's this growth that's destroying our future on the planet. the signs that something has gone wrong with the a system that's become impossible to overlook so why do we consistently ignore them . this is for t.v. the network was always stuck together for your. time trusting a lot better now than i was before i did you know because if they even hire you style you know to me. you guys look like so you obviously don't know what i'm talking about but you know this is a really nice quote i call it one of the most powerful name in financial television
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wall street week his back yes the news guy bridge actually purchased the rights to wall street only as i view myself as a capital artist ok this company that i've created is my campus. i know you guys in the media don't like capitalism but you know someone's had to pay for the camera and the microphone so i mean at the end of the day the capital system is the only system that we've been able to design that works. let's talk about growth ok there is a perception right now in these elitist academic salons ok now we're not going to grow anymore well that's just flat out wrong if you study five thousand five hundred years of human history we know that human beings are designed to have great intellectual curiosity and to innovate there are so many things that we're going to do over the next fifty years is going to shock everybody in terms or keep ability we're going to poll asteroids down from the asteroid belt or low to platinum that
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would be where the first trillionaire comes from we're going to unlock the ability to stop aging or destroy cancerous cells in our bodies all of this innovation is ahead of us and there's a tremendous opportunity for growth. that's a sense of desperation so this strategy we don't want to base a realistic in the world we would much rather have. you know a total fantasy for our guiding star we would like to have this vision that we don't have to think about detailing grace we have to think about making grows even stronger we have to go for it we have to make america great again we have we can all be billionaires we can all we have property and of course it's a little asian i think it goes back to exactly that same simple basic fact we live
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on a finite planet that there isn't the space for the dream of this reinvigorated the rest fetich this is. just. we live in extraordinary times our world is becoming increasingly complex. and many are disappointed to find that they are worse off than they used to be. and instead of touting the economic system they turn to those who have profited from it the most those who continually promise new growth. for these empty promises more and more people are apparently willing to sacrifice democracy peace and then vironment. capitalism has reached a new level of escalation but it's no longer suited to the world we live in. it's and it's closer than we think.
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from dusky sunsets if a spring savannah. to sunrise atop an asian metropolis. hello again welcome back to your national weather forecast well we're looking at plenty of sun across much of the southern part of south america particularly over here towards of sencion temperatures for you are on the rise here on tuesday thirty six degrees is going to be a high as we go towards wednesday though thirty eight degrees is going to be the high there we do expect to see more rain coming into play here across borders out as with the tempter there of thirty one degrees in cuba we did see a deadly frontal boundary push through and that because a tornado across parts of havana three people dead over one hundred seventy people injured when that system went through right there we are still seeing the funnel
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system bring some rain showers across some parts were talking about the turks and caicos down here across central portions of cuba and into the cayman islands even jamaica could be seeing some rain showers as well for here on tuesday but as we go towards wednesday really not looking too bad we're going to see some cloudy conditions across kingston event your temperatures are going to go back up to about twenty five degrees there and we expect to see about twenty four in your forecast where we are seeing some very very cold air coming in from canada across parts of the northern parts of the united states here temperatures are not going to get very very high at all across much of the area take a look we're expected to see here on tuesday minus twenty nine in winnipeg minneapolis minus twenty and when you factor in the winds it's going to feel more like minus forty. the weather sponsored by qatar peace. the world's largest oil company fails to become public water tap and. other kingdom the company inseparable here the world's largest oil producer and don't
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list in the world's largest definitely something al-jazeera investigates the politics of oil the middle east's most potent economic weapon. saudi arab code the company and the state on al-jazeera. this is al-jazeera. this is the news. coming up in the next sixty minutes here's the cease fire in yemen's port city of hyundai there might be on the verge of collapse as aid agencies warn of worsening conditions a legal victory for a christian woman in pakistan whose with all led to widespread protests.


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