tv Documentary RT September 2, 2017 9:29pm-10:02pm EDT
the italian case with its debt out of control could have even caused a domino effect on the whole european economy only dose of the pigs. what was going on in europe in contrast to the free markets invisible hand. which improves the lives of people the government's invisible foot. tramples on people's hopes and destroys surgery. said that's the word spread and austerity had entered into everyday speech but no one knew what consequences the economic crisis would entailed be taken to the streets across spain to join the general strike that stretching throughout europe that still european politicians was shared with the crisis would be resolved soon
applying effective economic recipes and structural reforms. after four years of austerity the economic conditions of the pigs are even worse but the european press continues to believe that corruption and indolence are the sources of our problems and at this point we deserve this crisis. praise for. the. and. see. the. post in austin. and with the cause a. second. will.
that is sound the big key. chip if you. live in that she country as the we wish the weaker economies are. working hard spendthrift. that's mostly complete nonsense greeks work on june more hours per week than germans do. in one thousand nine hundred two the my strict treaty was signed in the european union was formally born. but let's take a break because this story also talks about that in that very same year founded the social co-operative. on the of which she is now president in twenty four years now and in their colleagues and given back dignity to those who are just been released from mental hospitals schools prisons or simply from their homes they left with the fam a few up to colorado full of crazy people they drove around. town north of from under
the eyes of the outraged locals and they got to change the face of their city a cooperative has dealt with more than five hundred people with disabilities and more than five thousand people took advantage of it serves a tenth of the population of mt to return today the likely base is that it would be shut down triggering a real social bump in the event yeah that's. a good. one hundred. percent say. with macroeconomics you can understand the limits and then with microeconomic you understand everything that happens if thought it goes live back our economic might put you in this role and then micro would be everything that happens inside the role playing still. in the stuff i've said it that it is that. if you. seven hundred dogs in the room
to get some bones there's always ninety five there you've got a macro problem a structural problem five of those dogs are going to get any. of it now the micro. psychologists will take those five guys out in the exam and then they'll say ok they need more training we need structural reforms they need exercise exercise or a trainer teach you how to fight hard case bones and then they run the experiment again they send those dart do together and sure enough the next time those dogs get . what they forget this is going to be just five other dogs that don't get bones because there's a macro problem it's good to have better dogs stronger darts faster darts but if the problem is to short bones short. nothing the micro can do about.
told that i really miss. elizabeth start to treat shaken to its very foundation t.j. you had a hundred fifty billion bombs killed today. and. also the other big question tonight the fate of the thousands of employees who work in the building. the u.s. financial crisis spread to europe in the form of
a crisis and quickly turned into an economic crisis. so there's a lot of the started about what's going to come out of. it was never the strongest suit or the european union. the only way of imposing such highly. toxic policies of for three shifting the losses from the banks onto the shoulders of the weakest stock spears of europe. whatever the next.
feel a. massive government intervention launched a new. economy creating jobs balance in social conflicts in protecting the weakest segments of the population this was called the new deal found. that there were family. and they're going to. come over to the new deal was inspired by the father of macro economics john maynard keynes argued the need for public intervention in the economy of the nation on the opposite side milton friedman yes that treatment of freedom and economic consumption of the bloodthirsty dictator pinochet theories remain the source of current economic policies of the west and anything we can do to keep government spending is a good thing we should restrict it to those activities like defense which we really
need to do. because it's a political decision is why in the past i've called it a crime against humanity because it's an act of decision a kind of walk they have run out of money the central bank this credit accounts is no limit to the amount they credit so let's see how money is created in the united states. can be taken into the afterlife that's a lot of people from the future are now arriving in the present. is able to pay for is very into the president using but he doesn't talk about it much because he's already considered to be quite a strange man but you know that's the truth. saloon the dubrovnik in venice are all fixed travel destinations so it must be nice to live there or is it.
crowds of tourists disrupt the city's economic and social life before this on the celestial get out. of this. some not scums by him some but yes you've done as we've done as minor leagues in a school much as him but i'm not the city's tried desperately not to collapse. of. the will and probably globally. in the bushes up the oem subs knock up the supposed to me of a. god of my blood. is a tourist phobia the fear fell into an identity. seemed wrong. to me. to shape out. the cuts to the ticket and it. equals betrayal.
when so many find themselves worlds apart. just to look for common ground. no not one tough. enough lives up to let down one by its nature the definition. one seeking out in the. south. came to me it was in the south yes it did. and yesterday but. now it's like i'm. going to the let me. see if. this just killing if one means a leftist i know but let me say this one tokyo found it was going to go
get. this look was because did it because it didn't seem quite a cultural shift from the premise. that. the federal reserve is not spending money the buns. the federal reserve much the same way that you haven't a column in a commercial but. ben bernanke it was the president of the world's most powerful central bank the u.s. federal reserve true to learn true we simply used the computers to mark up the sars
of your column in the federal reserve we need to preach morning because all more economists by the week and then flee from despair really. feel in the us to. money can be focused on public spending specially when the economy is in trouble. in the eurozone instead during hard times this could happen. she made sacrifices. and sacrifice today.
the. economy here. for the big you know i mean. this. was the. research institute in italy national funding to the regions linked to social policies was reduced by approximately eighty percent from two thousand and seven to two thousand and fourteen. and. you're a member of a matter of the bones if we got it right. that decides how many pounds should be
sense and it's only going to start to speak to him into inclusion of the audience. and not just some libyan leaders in check or. daily kristie it to me i'm saying only you found your answer can until somebody. some want to be one of them on his or the asylum in need it gentlemen is in n.z. the need to punish and continue to want an enormous. damage control chock full of it. why did she tell somebody who taught. him to study is all. what we have learnt is that if you are in a situation of low growth even the recession austerity is a very bad idea it doesn't work and it makes millions of people very unhappy those
who are unemployed see their wages decline it has been misery and as a result in the eurozone the countries of the eurozone have been doing much less well in terms of mark wikinomics developments of growth unemployment the. countries outside the eurozone. believes. collapse. at least a year yet a lot of the economy. the only and the most likely to blow up if he's going to talk to me. was that daniel could have. to do the same. then you do and he's welcome by the
people. to see what you are doing a choice. he did before the kilometers i mean. the school pretty clearly going to me about they. don't mean it can be beautiful be going. down when . i want to be. but is it true that the national debt is a problem is. probably. too early imagine that the good woman is that we need to invest in things that you don't have it was only you know yeah yeah they were and. the. problem. that they solved. with the
would go i mean. put a sovereign currency is a currency that is under the control of its issuer so there is an important relation. shift that exists in any sovereign country that has a sovereign currency the relationship is that the government collects taxes in that currency spends in that currency and has a monopoly over the ability to create that currency so in canada and in the us in australia and britain the governments are the only ones who can create their own currency here in the euro zone government spending euro's and taps a mirror but cannot create the currency value of the idea in their available assets
that all of america dollars at the un approval number need to do without being that printed that it was there was no. movie or probably of a debatable movie where. these are the countries of the world who's probably dead can be a problem because they are on a bill to create their own. when you buy u.k. government balls you know that you will always be. in pound sterling at the moment of maturity because the bank of england will make sure that the cash will be. government is issuing debt all means not anymore but in new ghosts and you want to in fact like foreign currencies and as a result if markets distrust of government then the massively stillborns knowing that the governments may not have the cash you will cash to pay out to both
told us and therefore precipitating a crisis in a self-fulfilling way pushing it doesn't government into illiquidity it cannot find the cash and possibly default rules. i mean. it's a. big. tell you how an academic paper by a harvard economist wrote often reinhart which conservatives would wide are using to argue for austerity was recently refuted by grad students just because it had
a few simple spreadsheet errors and a couple of little staggering omissions that made it slightly fundamentally wrong please welcome thomas herndon mr arnold thinks probation is one of the most important american company to realize that you have upset some people in the austerity crowd who have someone starting your car for you right now. when the public exceeds ninety percent of g.d.p. it becomes an obstacle to growth. the two great economists had committed a line in the columns of their ex bridge time as i've been talking to a lot of the media across the world and pretty heartbreaking stories about what's going on in europe and you know i've also seen the effects of it in this country as well we have to keep cutting the government budget and laying off people until those people get jobs that's right you got it the austerity policies are based on a full blown discount. you know but they see their already using it all over europe
and they love it so much that they have celebrations in the street sometimes with. sometimes just fire and every. despite seven years having no lapse since the beginning of the the crisis. c b s economic studies continue to support the danger of public debts which are too high and the need to cut public spending hence the deficit. back also for the. department. must be present oggi the least bit dowdy equally month they may be limited in that it but a gentle we have respect. for them in. their creed that it needs more ok.
is just something that is the scientific it's like the trinity or something to ignore scientific basis for imposing the number of countries intelligent people. yes it doesn't make sense if you do death spending you're not adding your stimulus you're not giving the economy drugs are you doing is you're removing a restriction so you want to think of the economy with us i don't pick ron that's all for the run it's it's educate it's got good capital goods behind it it's got. lots of lots of food wot you know everything you need in your economy housing clothing music production ok but then all of a sudden you put a plastic bag over the head of the sadly he can't breathe right and so now we can't run any so what we're saying is remove the restriction. see.
felt on the. last time we chased. each one of the twenty kilos of drugs. it's a very we have made their own medical men they have assisted this is for me. i don't know don't. make. a break right. now well. welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive in. my body gets and some bodies that i
cannot produce itself around the world giving blood is seen as a symbol of generosity and does this because it helps people it's just that one of the side effects is that it. applies more burning people put their money on your car immediately okupe you don't have all plasma based drugs today come from private companies and are produced from paid plans much smaller conference in rome or of computer one of the risks of paid donation in it then is proof that the frequency of pathology is much higher paid in it. if i was line. over two years old he was. in the money using the drill and who runs the blood business.
seemed wrong. to me but he's yet to shape out just to become educated and gain from it equals betrayal. when so many find themselves worlds apart we choose to look for common ground. the knot winds up. on a flimsy off let down one might have been a tough the definitions and i'm back. when seeking out a new south. and. take them into equal city just. to get the gun and then you get ready for it. how is that gun. moving right now i think.
good to know when to. say let it go out to the. u.s. officials are now conducting searches of russia's diplomatic premises in san francisco and washington that was shot down on the state department's own russia slammed the mayor's. it's a clear violation of international law. we are witnessing an example vandalism you need international relations it's another takeover of russian property. we haven't been expect you since you want to guess you don't call him. the counter-terrorist sheaf has revealed that britain has the highest number of islam mistakes three misses in europe. i think we have i have your i
why. remember we are like people here we'll black people right and a police lieutenant in the us has been fired off the dash cam video shows him assuring a woman during a traffic stop that police only kill black people. you're watching on t.v. international with me rosana could live from moscow thank you for joining us first story american security services are carrying out searches of russia's diplomatic properties in the u.s. on orders from the state department the russian foreign ministry has slammed the move is a violation of international law and for its part the u.s. state department claims the inspections needed to quote secure and protect facilities and to guarantee that the russian side has vacated the buildings the foreign ministry has posted videos on.