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tv   [untitled]    April 3, 2012 12:30am-1:00am EDT

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market finance sunday. find out what's really happening to the global economy with much stronger or no holds barred look at the global financial headlines tune in to cause report on our team. for that time for a look at the headlines are headed up take flight recorders are examined to gain a crucial insight into the last minutes of a plane which crashed in western siberia feel the aircraft wasn't just for takeoff the. u.n. peace envoy kofi annan convinced his present etc under an april tenth cease fire as doubts grow would have to fund the rebels willingness to stick to their solid body . and risking it all and losing everything number of italians it turned to gambling
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to make their fortune in tough financial times. next talk to a prominent american economist but i can't stay top of the world's finances and where it's heading next. r.t. sitting down with richard wolffe american author and professor at new school university his new book occupied economy challenging capitalism hits shelves in the next few months mr roth thank you very much for staying down to speak with me thank you very much for giving me the opportunity to years ago you said that a crisis would take not just a few years but much longer to overcome it is a common belief that the so-called financial crisis is basically over the one that started in two thousand and eight so where do you think the u.s. economy is right now i think the way to answer that question is to recognize that this crisis is a crisis of the entire global system and where it is extremely bad at one moment it
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will be relatively easier at another as the symptoms move around for example the united states was in much worse shape in the first two years two thousand and eight and two thousand and nine compared to europe two years later the years two thousand and ten and two thousand and eleven reverse the united states is not the extreme problem europe is and the financial crisis that we talk about is as severe today in europe as it ever was in the united states the banks in europe for example are in such trouble that almost no days goes by in the european major newspaper where someone isn't talking about will we have our own lehman brothers type of collapse the way we did here in the united states for both of the periods the two years that the america was worse of two years that europe was worse was ill china india russia the bric countries and so on we're doing real well they're now in trouble so my advice is before americans count their chickens that are not hatched be we're that
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the crisis that was buried here then became buried somewhere else is heading back here to give us as many problems now. now as we see the europeans having but we all have them a little bit later the housing industry in the united states big improvement until about a year ago where it's flattened out and now it's going down and that isn't as important a shape or of the future of our economy as ever the uptick in the automobile industry is so the jury is out is not at all clear that we are anywhere near out of the woods and it would be even more difficult for americans if they got their hopes up at a time when there really is not yet the the foundation for doing so you said that it was world war two that drag the united states out of a crash on itself that was the case where is george w. bush and his successor obama doing the right thing by pursuing morris' and in some
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cases currently considering new ones now i think the difference is in world war two putting aside the specifics of that particular war the technology of warfare meant that if you're going to fight a war you're going to need millions and millions of people we had millions and millions of unemployed people we basically took half of them in one thousand nine hundred forty one and put them in uniform and the other half we put into factories to produce the uniforms and the guns and the bullets and all the rest today warfare for political and technological reasons does not require large numbers of people it is both politically to dangerous to get large numbers of people involved and it is not necessary for the kind of high tech warfare that we now specialize in as a nation so warfare isn't going to do the job the wars in afghanistan and iraq and even the one threatened with iran now are not the kinds of war that will soak up the unemployment in the united states and so it doesn't represent itself as a solution we're going to have to find some other way to take messes of people and
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give the work and i don't think the private sector is up to it we've had five years in which the president first bush and then obama. told us about the incentives they're going to give the private sector to hire people the inducements they gave all those incentives they gave the inducements and the private sector basically decided keep the money keep the incentives don't hire the people so at this point if you don't come up with a real employment program you're not going to deal with a problem and war isn't going to do it unless we are thinking on a scale that is really outside the realm of what is safe for even gung ho types how much do you believe that the global economic turmoil that the world is critical for is a product of wall street as oppose to main street let me be as strong in this as i possibly can because i've been asked this question often this is a problem of our economic system it is not the fault of wall street more than it is
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of anybody else i understand on the left in the right and even in a center there's a desire to pin the donkey the tail on the right donkey find a scapegoat blame somebody so if you're conservative you blame poor people who take out mortgages they can't afford if you're on the liberal side you're angry at the bankers who after all gave them those mortgages out of their own greed and their own desire to make a buck i don't think that's the way the game is played i think poor people middle income people and rich people try to make a way for themselves in the system according to the way the system works bankers do what the banking system has them do and the same applies to everybody else when all the different people in a system act according to the rules of the system and the outcome is a bad arrangement then it's the system that's the problem actually part of our strange argument we. could give. up on a political support to deal with the one percent if he wanted to why hasn't
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he turned up my feeling is that i don't know on barack obama that well but that if he were sitting in the room he would answer something and i think i'm persuaded by this answer if the occupy movement were stronger. if it had been going for several years rather than for several months and if it had gathered the kinds of support that for example was gathered to push franklin roosevelt to change his politics in the one nine hundred thirty s. then i think mr obama would have done or would do the same thing franklin roosevelt was elected in one nine hundred thirty two as a center of the road democrat rather like mr obama he came in propping about balancing budgets and all of the rest he came here about giving incentives to private employers to hire within a year and a half of taking office he goes on the radio and says the private sector has now hired people we now have tens of millions of unemployed the unemployment rate in
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the winter of one nine hundred thirty three thirty four was twenty five percent three times what it is today and he said ok if the private sector isn't going to do it under the do it and when he was asked her how dare you he said there is no option he said look around you the see i owed the congress of industrial organizations was organizing tens of millions of american workers it was the unionization drive we had never had before in american history and we've never had it since seizing occupy wall street isn't big enough here that's right he's not big enough it's not cohesive enough it hasn't cracked enough people it's gotten majority support in the polls the sympathy is there but you've got to translate the sympathy into the mobilization that could go to obama and say you must do this or else in the u.s. and in europe we are outs coupled with austerity measures and at the end of the day it's the people that are being squeezed and suffering across the board on how much
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longer can that continue it's the sixty four trillion dollar question and the answer is it will continue only so long as the mass of the people permit it it is in a sense a game of course. the greece situation in greece which is a kind of touched on that all americans should pay attention to because if we're not very careful that our future being played out before us yes greece they can't pay their debts we can't either the debts of the united states today we are the largest the most heavily indebted country in the world our debts are in excess of our g.n.p. that's the problem that when palm got bad for greece when its total that one above its output we're already there we have a very serious problem we do not have a plan for solving it any more than the greeks did the hold of the rich and the corporations is that they can get enough time to kind of work it out disperse the
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costs among the people and maybe slither through the risk that they will have miscalculated and you can see it already in the eyes and in the words of certain of them warren buffett in the united states one of the richest people warning the rest of the rich people in america pay more taxes give the government the wherewithal to help people or else the system that made us rich is going to collapse those are signs of warning that ought to be taken a lot more seriously than the dismissal that his fellow wealthy people have mostly given it you know for a long time in the united states the ideology the ruling way of thinking is if you make the money. lord knows how you do it if you make it it's yours and you're entitle to it and this myth knology this notion that i have the right to hold on and to make as much as i can and to keep as much of it as i possibly can is making
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everyone who plays in this economic system all of the part with their if i'm if i'm not forced to another corner so whatever gets done don't touch mine don't touch mine with that mentality you don't face the seriousness of the problem and you run the risk as buffett and others have warned it is not the only one if you don't you will miss a chance to give up a little and you'll pay the price of having to give it up altogether counted as capitalism have a future well you know the great defense of capitalism all my life as a professor of economics and in the united states the ultimate defense of capital of them was always well yes it may have this or that floor but capitalism delivers the goods the rising standard of living american working people have a car a vacation all the rest ok let's give capitalism that for a long time it delivered the goods with its flaws but over the last five years it's
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not delivering goods it's the living one barely after another falling government services falling real wages falling employment opportunities rising debts for our students rising beds for our people i mean at some point the very system you gave praise to when it delivered has to be given the criticism when it doesn't otherwise you're not being serious and i think we desperately need to ask and answer the question is capitalism whatever its virtues in the past able to deliver the goods now and it's not and i think it's clear that it's tired what changes have to be made or maybe are we. finally mature enough as a nation to aerschot the question can the united states do better there than capitalism and europe are coming out now a hard occupy the economy challenging capitalism ok answer some of those yes i
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tried to show some of the new ways to organize a reorganize our economy that would avoid the problems we have now seen learn from our experience and begin to move in a different economic direction and i think that's a reasonable way i don't expect everyone to agree but what i mostly hoping for is to reignite a national debate and discussion let those who like capitalism defend it but those who criticize tell what's wrong and offer some alternatives and i try to do that in the book and i have to leave it there thank you very much for save our party my pleasure thank you.
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loser league.
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world. series technology innovation called the list of elements from around russia we've got the future coverage. thought reporters are examined to gain a crucial inside chance for the last minutes of a plane which crashed in western siberia it's been revealed the aircraft wasn't dion's for takeoff from greenpeace and boy if you haven't been since question that's on or an april tenth ceasefire screw up an hour of fun to the rebels willingness to stick to their side of the book. risking it all and using everything number of its audience turning to gambling to make the tough economic times. let's find out what's happening in the world the sport now without.
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hello there thanks for watching good to have you company and this is what is coming up over the next few minutes advantage of on guard of course dismantle cracked or to take it to one seriously and make a pile of semi final. twelve months united extend their lead at the top of the english premier league with it so you know when i have a black. bombast loan or prepare for a must win game against ac milan it's the second legs of the champions league quarter finals get underway. start there with occasional semifinals or add on guard have taken a two one series lead against tracked or after a narrow one nil win last night out on guard without for draw mind chavan care who is the postseasons points leader but they didn't lead him as surrogate the men in struck soon after the first interval his goal making all the difference to you in arms to give up on god the overall seriously trying to his front man you can you
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can itself could have sent the game into overtime but his powerful last gasp effort was saved by carry around the finish goaltender not showing up his first post-season shot and. both night then on the last it was their place in the final of the garden cup they lead their series against carson paid as the three nil and need just one more wing to go three. foundations for this evening's klatsch. united have gone five points clear at the top of the english premier league after its you know when black it was an easy day blackburn holding athletes in the last ten minutes before one tourney of valencia and ashley young school the vital goals for united wins putting them five points clear of rivals manchester city blackburn slid into the relegation side. the thing from unities point of view. you know they look at today and they think fully in minutes it will probably want to with a goal was coming from you know because we were in
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a good positions off the ball we were for straight we were clever on the pick and you know with disappointed we didn't just hang in there for another five or six minutes because if we did. a really good point put your point of view in the look at related to. a fever in a couple of games. champions league action regimes this evening and only a win will do the defending champions barcelona if they take on ac milan at the nou camp in the second leg of their quarter final after a goalless draw in the first leg past the half to win the season to make their success of semi final they are on the new fourteen home games in twelve days ending in picture ace another neil neil though would put a seam allowance and that makes barclays game plan straightforward. as well but the most important of all i think this is the most important game so far this year because if we want to remain in the champions league we need to win this is a final nor room for mistakes and it is difficult to manage stars because we score
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first we need to persist and score more goals with a run the result yourself in every single moment so you don't need to attack a lot but also remain vigilant in our area. but when i got another taste of the new camp during a training session on monday the last time they were here was in september when they treat c c with barcelona in the group stage and their captain is demanding another brave performance from his team mates. to morrow's game will have to be pushed the courage because that is you only way to face barcelona the face them one needs the game position of the ball and all the rest comes in second place to come to the stadium and face barcelona with bravery is the first thing to do in football to anything could happen and it's important that she says of the quarter final dynamic host marsay the german side they clear favorites for the two goal advantage from the first leg and they're in a rich vein of form after winning their last seven games however they will be without the suspended bastian schweinsteiger and their coach thanks it's where
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they're not three me yet. run assistance is roman from the results from the first leg is good but we haven't reached the next round yet i mean to be just like we scored two must see if they can score here so we have to sleep very focused will have to show the same quality as in the last game of it over the last few weeks and then i'm sure we'll get into the next round some of us have our own we want to but whatever he says not say have it all today they are only a terrible run of results and i mean having lost eight of their last nine games however their league game against montpellier last last weekend was suspended to allow them proof to prepare for this day i managed to get here to show i'm still believed this day and cause an upset. silverfish actually get chosen if we want to achieve something all parts of the team have to play at their limit and you both collectively and individually like an average match but have our ideas of what we would like to do but of course we have
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to implement those norms are failing. clearly martin the talian city a footballer has been arrested as part of an ongoing investigation into match fixing has landed defender and their massey yellow was taken to a bar in cross you can use his office yesterday and italian prosecutors say eight of his former barry teammates are also under investigation barry's last nine matches in syria last season are being looked into including the darby in which the c.l.o. own goal helped elect cheney win to neil to avoid relegation news agency and say claims he scored it on purpose in return for one hundred eighty pounds and your rights. elsewhere as a golf fans have had a sneak preview with the stars preparing for this week's masters at all gus that is the first major of the year for time champion tiger woods is considered the favorite again after recently getting his first win on the p.g.a. tour for over two years he knows the course well and the hot warm conditions are
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likely to suit him although fellow american bubba watson believes any one of five could win this year's green jacket as we know over the last three years anybody has a chance they've been in one and if they're playing well there's about five guys at one point great all year obviously with tiger just winning titles will be up there again everyone is going to cheer for tiger tiger knows this course pretty well it's another course he's won a few times so obviously he's going to be appearing at least there's about five guys that everyone knows mickelson but obviously when you're a few times there's a few guys who just play your good all time and obviously. pretty good you don't always be playing good so you know there's a handful of guys that we have right now is about that has a chance and are really great contests now we will end with football because it is your chance to catch up on all the goals that flew in during this weekend's russian premier league it is. live live
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so that brings us to the end of the sport for a moment or a bit like to thank you. i fit an execution dates in believe me. just a one to two executions a is enough for anybody to go through your life. you know more than fifty percent of the people who are actually the texas are not. why you know little known to afterwards merry. christmas night and you know we execute our convicted capital murder as we have the highest execution rate in america we're not
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afraid to do it we do it well this comes of course we just becomes. oh i have a new hope. i will get a letter your dad is due to be executed next week then as appears on the dudes who know you can loose here want to be a period city in a manner of me and i said it's time to go. and i would lead them into this because of this chamber of. commerce trade till after they were dating.
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download the official cation short i phone the i pod touch from the i.q. sample to. watch on t.v. and life on the go. video on demand on cheese minefield costs. or s.s. feeds now with the.

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