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tv   Boom Bust  RT  June 23, 2017 4:29pm-5:01pm EDT

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and maybe fears of the right word but i talked to a lot of people that believe that if this goes south. the economic isolation could lead not to recession but depression to i mean what does the u.k. make where's the steel industry where's the iron ore everybody's got oil there's a lot of it on the world right now all the prices are very good so if if you have you have to think about the tough times of the downside here on the i mean if the european union economically turns against the u.k. you're not going to get a very good deal especially if you don't have a very strong prime minister and you don't have the political power so this could go south and then this could be economic isolation if it's not done properly i think big race care is actually not to manufacturing i think the big risk services and the u.k.
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it's a services space to come in has been for a long time i know we touched on manufacturing industry the one nine hundred eighty s. when in fact. a part of the u.k. economy even then so the service industry it's the servicing the wealth it's absolutely main effect that's what it is and not manufacturing and not making things and not being self-sufficient and outsourcing everything to the bottom line into the asian realm in the u.k. is going to be able to roll the dice economically and say hey we're going to do a better deal with and i'm saying there's a lot more to services than than just financial services and i'm a little bit reluctant to to limit this discussion to talk about financial services and forget about all of the many other service industries that are on u.k. the point i'm trying to make is that it is services that drive the u.k. economy not to manufacturing that has been the case for a very long time and i don't see that breaks it is in any way going to change that so the question in my mind is what happens not to the tariff. we hear
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a lot about world trade organization rules or stuff it's not that it's about the non-tariff barriers though there are things that make it possible for people to sell services into other countries without incurring incurring barriers to trade to trade to do with things like differences in the or differences in custom differences in recognition of each other's educational achievements things like that the much more subtle things that we don't really discuss what is the effect on the world was here first of this mexico or canada or the united states what's the effect of a lot of serious shit of bricks it on the united states you know what i have no idea how to get out and about looters and today they're. there and i do it seems to me that it seems to me that mexico canada and united states are going up problems of their own right now when i decide to renegotiate now jagging as an american sure but where there is where there's problems there is opportunity. it would be
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hypothetically or for the us. the u.k. is looking for a drug trade deal there's a guy on the other side of the pond who's a big negotiator at least claims to be he's looking for a well he's looking for a trade deal is this an opportunity for the u.k. of the united states to do things maybe in trade that they haven't done before why would he prefer a trade deal with the u.k. over a trade deal with the he wants individual trade deals that's the troll yeah that's what he is already caught out nato for not paying their bill when it comes to security i'm not talking about meghan yet i know that there is a lot to do with the trade deals do i think that trump would probably do a deal with the brits if they aggressively push there could be a business opportunity or you know i don't think the u.k. would be top of that it's no i think that. the renegotiating nafta is very high up
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the list i think that potentially trying to do by lateral trade deals with other countries is quite a list as well i think that actually trying to sort out some kind of trade deal with the european union is higher up the list as well and that has been the noises i've been having recently are you person a stick. relatively let me put it this way one of the could says it was made of remain as like me was that we were predicting this most almighty crash well that never happened and so now we're getting a lot of flak from the e.u. side saying well the almighty crash you predicted didn't happen did it to which i say i would say i personally i can only speak for me never thought that we would have that sort of crash for me this is like a slow burn when we first leave the e.u. we've been taken to our own laws pretty much everything that's in the new laws anyway so there won't be that much of an immediate effect particularly on services
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i think the problem is the longer term as things die verge we will see. i think our trade with the e.u. diminish if that's counted by our trade with the rest of the world increasing to compensate then potentially looks quite good but there's no guarantees about that and on balance given everything else that's going on in the world at the moment i am pessimistic but i just think it's a really awful time to be doing this let's start with a negotiation theresa may the brussels with the other twenty seven nato members brought up the fact that we're going to allow all three million people to stay here in the u.k. for four million brits are going to be. going to be able to stay in the european union what did you make of that first of all she got criticized by some for picking the wrong forum to leave. and if that is the case why didn't she bring that up it's been a year that is a very good question i mean interesting lee some of the people who have been most
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insistent that this must be sorted early on have been people who were campaigning full leave some of this most prominent breaks to tears have been saying we really have to sort this out and sort it out quickly the reason i know you know the reason i'm asking that is because immigration was a big portion a big motivator for this vote and moved to start with and so now she things out would she had said that before the break that vote well. don't know what she would have done but i mean we you know we could we certainly could have made this statement much earlier and in a way because the e.u. came in may it can put its position paper out first and there is was indeed quite a generous generous offer to their citizens and therefore by and by extension to u.k. ones as well because it was reciprocal. therefore they kind of stole a march i think a bit on trees may she's got some distance to catch up and part of the problem is that the proposal they put forward would mean that the court of justice will
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continue to have some jurisdiction and u.k. and that's not acceptable to the british side so they've now put forward proposal a. as the saying well we can have. rights to stay but overseen by the british courts and that's not acceptable to the e.u. side and so at the moment we've got a bit of an impasse things talk about as you say you can analyze but you can't always predict as is larry sonna doubt we're seeing a lot hearing a lot of massive corporations moving already nassib amounts of office space and saying we're going to move nine thousand one thousand and insert the thousands of numbers of our employees to frankfurt to brussels to paris is this posturing or do you think this is a reality that they're saying ok when we get the indication we're moving or is it sort of a bit of a threat either you might be a bit of both actually i mean the business community generally has not been in favor of pricks so there are more financial services companies are known and these are financial known for being a certain amount of pressure to government by threatening to do things on native
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species famously done that threatened to move to hong kong to try and influence the outcome of u.k. elections that kind of thing so wouldn't surprise me if this was to some extent posturing that set all the indicators are at the moment that it's going to be quite a rough ride and the financial services industry is going to suffer quite a significant change are all things that are going to be repatriated to to europe that has to happen and so it's reasonable to financial services would be preparing for that so cute you chose a well defined answer of what juror b. corbin's financial package is what he would his pay we know what he wants to do from the social end of things but what's his economic point i wish i knew. i was already you know this is an interesting point this is a guy who has who has really had a political rebirth and so the board and he's done it well the government should be doing this for you. but does anyone know what his economic package is what he
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wants to do well to be fair to the labor party the. economic package was fully costed i actually looked at the financial document in some ways to add up the question the problem is whether what they've forecast regarding tax revenues and growth is actually achievable and if it isn't then they cannot make foundation entirely falls down and i think this one there we important change they managed to achieve and that is that they turn to the debate away from. its which is what the conservative party were trying to do to let's talk about health let's talk about education as you know about social policy to talk about all these things because actually that's much more important and that i thought was quite a remarkable achievement the problem is the brics it still is where we are and all of those things are impacted by great thank you so much for that candid take on that's the real pleasure of financial economists francis cup i thank you thank you friends thank you for coming up our breakfast one year anniversary special with the
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u.k. being here with several terrible leaders attacks in the past few months what kind of security impact will the divorce from the e.u. that story coming up. if you want to go still but no because t.v. series but the fact. that it is what you end of it i could put a pot of soup in your speech if i like so whether they like it or not i got it but if we. put our free to focus on this world folks but you know it opens up a good opening. to start to put. what politicians do something to. put themselves on the line. to get accepted or
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rejected. so when you want to be president i'm sure. some want to. have to go on the precipice of like them before three of the more people that i'm interested in the why. question. i. i. well breck's it had an immediate effect on the stock markets the state of national security for the u.k. is still unknown are teased and tosh use wait looks at how this breakaway from the european union could potentially alter the country's readiness with several recent
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terror attacks on u.k. soil national security is on the minds of many according to the global terrorism database where the g.t.t. three thousand three hundred ninety five people have died since one nine hundred seventy from terrorism attacks in the u.k. and in the latest string of attacks another thirty seven have been killed with includes the recent attacks on with mr which left five victims manchester arena with another twenty two innocent victims dead the eight killed at the london bridge and the finsbury park attack theresa may in particular has been feeling the heat over these incidents as she formerly served as home secretary before becoming prime minister it was under her reign that placing budgets were cut and a number of security staff were made redundant in fact may was award two years before the manchester attacks that the cuts would put manchester and national security at risk and. insisted on just a few years or so much about what it was doing when she swells of the good.
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because the changes been imposed of coolest lisi to collapse in fact amber red the current home secretary admitted for the first time this week that police resources have been pulled very tightly in the face of four terror attacks in just three months but she said the counterterrorism operation simply can't continue at an emergency level as confession comes after a leaked letter from britain's foremost senior plea. officers say the three month emergency plan in place was simply not sustainable and also stated it was diverting officers from child abuse cases and other serious organized crimes well no country has ever exit from the e.u. before we do know britain remains a central component of the un security council nato and is one of the five intelligence sharing network between the us canada australia and new zealand well the question is will the relationship remain the same and will the equivalent amount of intelligence still be shared the actual bedrock of what is the so-called
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special relationship between the usa and the u.k. since world war two has been an incredibly close uniquely close working relationship particularly between our listening post the n.s.a. and the u.k. question which is called g c h q government communications headquarters and i really don't see that they can afford to fall out long term if may does stay in power their relationship with the u.s. and the u.k. are also in the air after the manchester attacks u.s. intelligence reportedly leaked some in a baby's name to the press something u.k. officials wanted to keep quiet until they were further and to begin best occasion i will make clear to president trump that intelligence which is shared between our law enforcement agencies must remain secure immigration is also an important topic when it comes to national security it's something may well have to discuss if she remains in her role as prime minister in washington to talk just weeks r.t. . joining us for more as astronaut time so here is the host of going
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underground on r t k you're one of my big sources of information across the pond i just want to put a pressurized you had like well as i said earlier this is going down with. the talk talk talk about the attitude of the people. a year ago to now a lot of change and i got to say that you three are picked at quite a time to come here all the times you know we have glastonbury a big music festival our version of coachella woodstock going on jeremy corbyn will be one of the highlight acts in the next twenty four hours but right now eight hundred families have been evacuated from tower blocks just a few miles that way out of that window because of the cladding as a precautionary measure because the cladding is made of the petroleum from saudi arabia who knows the petroleum based chemical that caused the dreadful tragedy that
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occurred in the bust few days nine days ago in north kensington the mood of this country it's not a nation at ease with itself it's a question that lowell for we get on together. when they move them are they going to do something to the building to correct it and move them back well this news literally broke in the bust hour or so so none of those families knew that this was going to happen this whole country obviously watched the horrific world pictures from north kensington the poorest community in one of the richest areas on earth kensington and chelsea in london these households had no idea and that temporary accommodation is going to fix it well reporting at the moment says that the fed agree of chaos and the fire itself from the tower at the loss of life it's really. kind of taken the focus off a lot of other big stories that are out there one of them is bret's it isn't it and yet it is so much to do with economics it was very quickly taken
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a bone to be had emblem of neo liberalism the neo liberalism that brussels and europe has been responsible for government housing because i wanted all government housing regular not adequate for people to live in a big fire seventy nine people died and now of course this breaking news. the needs of the people and this is where jeremy corben really struck a nerve with people in this motion that was electoral interest saying the world watched that he got a warmer reception he was receiving more warmly to the people three some a came out people watched as she was heckled well these are bernie sanders famously except up until recently jericho because the man who wanted britain to leave nato who want to the deregulation of the city of london to stop it seems now the bricks of debate means that the trillion trillion dollar yoru clearing that the city of london does
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europe in the past twenty four hours is already being moved to say that's a condition of brecht's that we take that jeremy cool with him has been very keen on manufacturing industry infrastructure like trump and any signs. so i'm just speechless at how quickly the fire and the terrorist attack but the cutting of the police. that came down hard on theresa may and then that terrible tragedy and jeremy corbin stepping in and how it just is a perfect microcosm of what's going on and how the world is now watching it as you say it's a tough place to be right now i mean one of the opinion polls because that was most accurate as regards britain's general election in the past few weeks savation for the first time a labor leader in any case is the preferred choice of the british people but right now german corbin is the preferred prime minister of this with top security be elected today well the opinion polls but certainly i think we heard from an earlier
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package he was a communist will if richard tice was right then a communist would be the prime minister who really has said of the people don't know who they want as the next prime minister how good is palling anymore what are you going to call landlines are going to go online and give a survey of course but this was servatius which was the most accurate. and i certainly there's no majority for this prime minister and this prime minister has never been elected by the british people and has the people have the political winds turned against theresa may because of security. i think security is interesting body because a lot of people that are questioning foreign policy. australia very quick to say we're not going to go into syrian airspace now that moscow has threatened any warplane west of the euphrates in syria britain britain still with it britain is still supporting saudi arabia big. and the threatening of tens of millions in yemen which is a big issue in the past few hours as the democratic leader and said and john mccain
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has said these allegations of torture and perhaps american collusion and torture in yemen should be investigated the blowback from british foreign policy and torture. and other issues this is what is driving a lot of people now to begin to understand terror attacks like the one in manchester the area on the ground in concert and understand they want to terror attacks or to a dead it has no real connection well there's no real connection and certainly in mainstream opinion here that somehow to raise them a support for invading africa's richest country in turning it into one of africa's poorest libya had anything to do with terror and i streets now we find that the atrocity in manchester the ariana grande accounts it was committed by someone who was on was being surveilled in libya and whose parents were from libya. and you could never be honest there are terrorists they say born every minute and if
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someone tonight is planning to do something horrific he or she will probably succeed if they're willing to give up their own life right sure so someone god forbid is driving around in a car with a bomb and he wants to kill himself and he's going to drive into any building he's going to kill other people sure but larry there's an irony here top fact there's a big irony here because the atrocities committed in london bridge down the river here and the ones. and they have been writing atrocities as well the atrocities we committed here a lot of the isis has claimed responsibility will britain has up until recently been supporting isis and al-qaeda linked groups in syria and jordan because the combination of political feelings intense feelings and crazy. it is this idea of blowback isn't it i mean. we the tower thankfully wasn't
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a terrorist or a city people would think of nine eleven obviously when this building went up in flames but we all know that it took a while for the american public to understand the blowback from u.s. policy supporting the mujahideen in afghanistan. to nine eleven to cologne so you think it's going to take some policy shift in foreign policy by the u.k. to have these terrorist attacks subside well certainly no sign yet from boris johnson who's the foreign secretary here he wants to be leader obviously his interview with the b.b.c. which was a complete disaster i don't think was going to happen and it was all it was though it's been that's not i don't characterize it for your journalism your ashford tell us what the foreign minister did well over here i mean. you go to the trouble for not being on their brief and so on boris johnson was asked about the queen's speech and what measures were they had to talk about poverty and inequality he just didn't have a clue at all which was going to negotiate he didn't know or an analyst didn't really
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know what he was talking about you don't know what the queen said in bali but the other day announcing the legislative program threadbare as it was because the resume doesn't enjoy much support not to as you know larry said and like throw it on to. something that means you'll be successful well. i mean i say never have i successfully rustbelt how i really will but i want to i want to focus again on security because that seems to have changed the political thinking in many circa. here in the u.k. that do the citizens feel safer today than they did a year ago and how does bricks it play into that because you know if you're going to have sovereignty how good a relationship are you going to have with these other intelligence agencies that you're supposed to be working together with i mean i think that isolation there could be some isolation in that regard as well your thoughts on that as as one does i was speaking to the former counterterrorism in his chair the other day said that
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the ministry of defense here our pentagon had no preparations for brix that as regards what happens in military alliances and intelligence which is quite amazing because you think they were a player or they're part of nato ok and they're they're thinking about doing something that is going to be so financially radical they haven't even decided exactly al they would coordinate when it comes to national security when it comes to military operations is they sure it will be that the tri nuclear submarines carrying the nuclear warheads will still be able to travel in e.u. which is because of the need to nations the ones that work or don't work that's right but then anyway you've already made your well we don't know what you control it for the government here denies of that the americans do but obviously you've referred to it before twenty thousand fewer police mass surveillance police with guns the army on the streets. these are the measures that the british government have been taking about terror you over here the bridges all have new blocks and so
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on but massive mailings id cards soon those words as with all the israel. exactly i think that seems to be the put there's a point where there's a bill that's being discussed right now about privacy and protecting your personal information here in the u.k. is that they're that's one of the eat things that they're talking about right now oh yeah well you listen to make i take a stronger stance on that but the u.k. is a bit wishy washy in that we have a complete mess of valence here provide means here we'll have to i mean edward snowden currently in when mosco said the british law was on the perhaps the worst in the world as for god's previously despite the protestations of the government. so were those that all go we're here we're the u.k. go with security on the streets i mean theresa may made all of these cuts in law enforcement. manpower's important it's interesting because the european union means also lots of policies about how far the state can intervene in
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a society and that's very important as regards the austerity cuts that were made on security for instance and i think there's a rapid growing realisation certainly jeremy corbin's people see it that we need more police on the beat rather than mass surveillance on that neighborhood needles in the haystack is it that but that costs money and the european union never was very strict about all sorts of ideas about funding and about nation state spending brics it means britain can finally get away from a neo liberal consensus of how an economy is run or see effect of other countries in europe and their dealings with going on. about but what does france think it was germany think and how do they in the future deal with loli go to remember that you are i mean that alone. i mean you've got to remember that thousands drowning in the mediterranean off the mediterranean shore sixty thousand were rescued in the past
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few years in the mediterranean and the figures are astounding when the producers on going underground show we do i say is that really the number because it seems so so high a quarter of all people in greece between the ages of eight hundred thirty are unemployed i mean you know you can't there's a reason why should your looking i mean yeah you're i mean they may have a good macro and a technocratic neoliberal government there but we go to elections coming up of course in germany and europe is not a continent of ease with itself either and if britain makes the move away from financial services that the financial services go to go to frankfurt and britain riek concentrates on a different. pivoting of the economy away from well let's face it it's all you guys well did lehman brothers if you all worked at lehman brothers and it's a. i believe it rather than probably wouldn't be in full bloom as they would be police on the story. forgive me it. was the european union working.
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obviously it was working for the very rich the they wanted to live very well they thought actually it wasn't working because there's only a couple of countries that are really paying the bill and this was one of the things why the u.k. voted the way they did is because the u.k. has been harnessing too much of the financial responsibility or at. paying the bill itself is arguably in the liberal construct doesn't it because. paying the bill and the way the european union worked was just subsidize those poor mediterranean countries as you say but not put any infrastructural spending in well keeping inequality rates better say in germany what was it germany going again the fantail so it wasn't working or was for i think rapidly because it isn't it wasn't working at all and we have to again look at polls just see whether other countries will follow paris lead as for us ali thank you so much for joining us appreciate it stay tuned for continued coverage from artie's one year anniversary special live from
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london we'll be right back stay with us. exactitude night comedy. not the fat by the. go back to the corporations it's just more your life profit over people and. their data it's not for me it's like medicine it's like a cancer from all the stress that the news puts reminder redacted tonight is where you can go to cry from laughing about the stuff that's going on in the world as opposed to just regular crying we're going to find out what the corporate mainstream media is not telling you about how we're going to filter it through some satirical comedic lenses to make it more digestible that's what we do every week hard hitting radical comedy news like redacted tonight is where it's at.
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all the feeling to snoop dogg. everyone in the world should experience to lead their lives and you can get it on the old the old. the old according to just. look up the modern world come along for the ride. in case you're new to the game this is how it works in our economy is built around corporate corporations run washington the washington post media the media the. voters elect the businessman to run this country business because.
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you must it's not business as usual it's business like it's never been done before . this is artsy america special coming. hosted my larry king live. short. term lindsey graham's. league. play a different one year civil rights. abiding. larry king and lindsey france coming to you from london tonight this is our special program on r.t. america going worldwide talking about brecht said it was one year ago today that the united kingdom decide.

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