i've got a feeling it's more a case of strong and taking action against china because a lot of the focus has been unfair tried from china the size of the tri deficit they have and china you know exploiting manipulating its currency and having its own controls against imports into its own country and having massive export. excess capacity of steel and i've got a feeling that's really what trump is going to say not so much that you go to a deal out of the european surges that tariffs on the other side that you've got europe to finally live up to its rhetoric about opposing china on unfair try let me ask you you know you're sitting there in london we appreciate you being with us so late over there but does brooks that have any thing to do with the terror of said and i just think about will it be a different reaction from the u.k. as opposed to the e.u. . people of any stupid reaction you can think of i'm in and it's been one very embarrassing watching how the british have handled bricks and not
realizing that the other side of the negotiation wants it to file and they've completely stuffed up everything so even over the you know the allegations of russian poisoning of of a spy of the everything has been ham fisted so i think i'm not going to try to predict or explain any of the reaction of the english might have i think i'll move on the thing i'll say as i'll be in consequential steve king i want to thank you for again for being there late and i'd love to have you back again to talk about your book which i just had time to peruse today and it's great and again that book is can we avoid another financial crisis and i know that the answer is in there and we're hopefully have you back some time to talk about it more steve king thank you so much for being with us we'll come. time now for a quick pause for the cause but stick around because when we return we'll look at a new study sticking with the u.k.
on the economy over there and how it is impacting people we'll talk with laura marling of the center for economic policy reform and as we go to break here are the numbers at the closing bell mixed day for stocks and bitcoin at eighty two twenty eight as we went to air. this baby panda is a. day that this one much eighteenth vote with your remote. for special coverage of the russian presidential election exit polls opinions real time results monitoring and much more. global warming are selling you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles that will. produce talks for the tell you that will be gossip the public by itself will support. off the bad guys and tell me you are not cool enough to buy their
product. all the hawks that we along with all the one. combination of shipping is very artful policy towards russia where he's established a great relationship with food and they killed an american mistakes i think. that this relationship between russia and china to talk. quite a lot can be quite tricky and would be very difficult to undermine. the church secret indeed catholic priests accused of sexually abusing children can
get away with it literally i like to call this the geographic solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to a different spot where the previous standard is not the highest ranks of the catholic church help conceal the accused priests from the police and justice system to that end of that so that as the end then i think you'll hear that it is this is out and. welcome back mario draghi the president of the european central bank has indicated he seeks to have several smaller interest rate hikes after the bank ends its current bond buying economic stimulus measures the stimulus measures are expected
to ended september of this year mr draghi says the interest rate increase will begin well past that date and would be at a quote measured pace. and its official german chancellor angela merkel has bigger. on her fourth term in office after narrowly being confirmed by the german parliament the close vote however is indicative of the chancellor's reduced popularity among german members of parliament. and cutter abbas has posted a loss for the fourth quarter of two thousand and seventeen the brazilian state oil company was pushed into the red by a special payments that included three point four billion dollars to end a class action corruption lawsuit in the united states the company of the rock for years by the so-called car wash bribery scandal that has implicated brazilian executives and politicians meanwhile the multi national scandal surrounding brazilian construction firm oba deck has now reached mexico prosecutors santiago
says he was fired in an effort to block several investigations of odor brecht's related corruption including one that implicated the mexican president in two thousand and twelve election campaign. yesterday we reported that google has joined facebook and will no longer allow bit coin or other crypto currency is nor crypto exchanges or initial coin offerings to be advertised on the platform and news appears to have impacted the price of bitcoin which dropped five percent yesterday from ninety two hundred dollars to above eight thousand dollars eight thousand two hundred fifty dollars during our break there and speaking of google the european union is preparing to plan a further defer to regulate the search engines like google and yahoo the requirements would include providing regulators with information about how ranking algorithms work one requirement being consider is if the platforms will have an
obligation to tell advertisers that they can pay to increase their prominence in search engine results. austerity policies will push one point five million children in the united kingdom into poverty by twenty twenty one according to a report by the official equality and human rights commission the commission found that if current policies are left in place the poorest twenty percent of the population will suffer the most losing ten percent of their income sixty two percent of single parent households will be impoverished by twenty twenty one up from thirty seven percent which was estimated in twenty ten meanwhile the richest fifth of the country will be unaffected commission researchers found that most of the harm will result from cuts to benefits for the working poor and disabled people and a freeze on affordable housing aid. why
has the u.k.'s growth been so sluggish let's take a closer look at the question with our next guest laura ling a research assistant at the center for economic and policy. search she and the co-founder wrote a new report that we're going to talk about with regard to the u.k. the u.k. at the crossroads laura thank you so much for being with us explain third of the high and for our viewers and then we get in the details what is your report say well we look at the past years in which the u.k. supposedly had a recovery from the crisis they've had positive g.d.p. growth ever since two thousand and ten but a closer look so the growth has been somewhat modest and living standards for most people have actually declined ever since really so since a crisis living standards have declined now you've mentioned something in the
report called the palmer ratio and use that to sort of as a gauge explain what the palmer ratio is and what does it mean in terms of where the u.k. stacks up so the palmeri so looks at income inequality and it looks how much the top ten percent of earners make as compared to the bottom ninety percent and it's actually in the u.k. something that's been going up in the eighty's a lot going up means that the wealthier have a larger percentage of wealth exactly so a larger ratio means that the top ten percent are capturing a higher percentage of the total income and it was slowly started to decline but since the crisis and the recovery it's been flat again and making no progress so a lot of the gains of the recovery have really still help the top ten percent this palmer ratio it's used at countries all around the world yes ok can you put the u.k. i know we're not probably very good in the us and obviously i don't know the answer
so where does the us stack up in relation to the u.k. and the rest of the world on the palmer ratio in terms of advanced economies do you can the us are divorced or do they separated out by always cd countries as i do with so if you look at o.e.c.d. data at the. provides that the u.k. is the worst followed by the us and then other countries have far better income ratios oh my gosh you don't happen to know the third or fourth around there do you after so if so it's a u.k. and then the us as far as income inequality where the wealthy are making a larger percentage of income now in your report you talk about household income that has increased but only for a very interesting segment of the population explain that so if we look at real income since the crisis we see there's a small increase for everyone right but when we look closer we see that the income
is coming from retired households and that's because of pension legislation that was favorable to them and that actually is currently also under attack from spending cuts and it's been the main equalizer in terms of household income isn't that weird that people who are making more progress are retirees so they're sitting at home or sitting in their flat in the u.k. and it's because primarily you say the pension system right yes and otherwise real wages are still lower than they were in two thousand and nine ok now we're talking about about segments of the population we always like to make sure we can cover gender gap here we know there's been a lot of news in recent days about the new study coming out on on gender equality except for in the u.k. we did a headline recently it might interest you to know when you probably do do know about how the data is skewed in part because they don't take the highest
earners income into account when looking at all employees and the highest earners are mainly doods probably old white dude so anyway explain the gender gap in the u.k. is it as bad as it is at the other places like in the u.s. . so the gender gap in the u.k. has been closing a little good but then when we look at their real hourly wages by gender what we saw actually is that they dropped more for men than they drop for one then so it's not that women's wages increased it's just that they've the chris less than men's wages oh really very interesting but there still is a big a big gender gap there but it's getting getting better but not for probably the right reason exactly so if you're a guy not the what right reason all right now you also spent some time talking about debt and deficits in the u.k. and this is a conversation we're having increasingly all over the world but of late in the us
are some new deficit figures out in recent days in the u.s. about the highest deficit we had a long long time. but when you talk about deficits and debt the real issue is what are you spending that money on not we've got a big debt so we can't spend money they are spending money but isn't it in this case that perhaps to reduce some of this either income inequality and the. the impact it's having on people's livelihoods isn't it about priorities and where they spend money in the u k. it definitely is so if we look at the u.k. they have a big productivity slowdown and they have the lowest investment rates in advanced economies so worrying about the deficit seems sort of silly rather than worrying about investment that will increase productivity and wages and living standards for everyone when you talk about investments are you talking about primarily education
or you're also talking about infrastructure for the less fortunate among citizens it's all of them it's investing in infrastructure and people in health care and everything that would help and help people be more productive the economy be more productive and sort of deal with the slowdown that otherwise will not be addressed and tell us a little bit about the u.k. in terms of growth we've seen some crazy growth numbers we saw india overtake china with six point nine percent g.d.p. this year us still lagging down at two point five percent where does the u.k. come in and what do you say about growth in your report so the u.k. seems to be very proud at one point seven percent there are last year and o.e.c.d. numbers came out projecting growth for next year and out of the g twenty countries that should be the main twenty economies the u.k.
ranks last. you know let me ask you one more thing laura so you talked about investment and where investments could be made even in light of debt and deficit one of the solutions might there be to help the u.k. economy other than investing in the future etc are there other things that you listed in your report is that outside of the scope it's outside of the scope what we can say is that prioritizing deficit reduction when the u.k. can borrow at real negative interest rate so the interest rate is lower than the inflation rate it seems completely unexplainable to prioritize reducing that death over growing the economy and improving living standards well let's hope that those interest rates stay low and that they take your advice post haste because interest rates may be rising are going to be rising in the us here within a couple of weeks and i know that the u.k. is not too far behind us so they should take your advice people should read your
study and we thank you very much for being with us laura murli the center for economic policy research thank you for being with us. and before we go a quick note the u.s. senate has passed legislation to roll back the dodd frank law that's the wall street reform and consumer protection act of twenty ten by increasing the threshold for what we call too big to fail banks from fifty billion dollars in assets to two hundred fifty billion dollars this would allow some of the largest banks to actually cause the financial crisis back in two thousand and eight to avoid regulation such as living wills and stress tests those are things or make sure that the financial system will be strong and secure efficient effective some say this would put us in a precarious position going into the future and the measure which passed with seventeen democrat votes in the senate also needs to be approved by the u.s. house of representatives they passed a more strident bill several months ago and we'll have more on this in the coming
days. that's it for now thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust are to see you next time. there are not ones out. on the flues often not done one might have snakes on the definitions and i'm back. when seeking i need. to take in the equal city just. to get the band and then you're just going to bring. out how we think i'm. young movie it might not be. good enough to know we're not beach yeah that sounds our. next guest feeling if one means
a leftist i know the deep but let me show this one tokyo find it is going to happen to go. along. the way. it is what it was because did it because it didn't seem quite a cultural critic. of the premise. the firing of rex tillerson at the state department surprised a few tillerson was often described as bland and on numerous occasions out of step with his boss donald trump the nomination of mike come pale to replace him is any place. in the heart of the swiss alps this is a place probably more secretive than the pentagon more mysterious than the cia and
better guarded than for knox swiss customs are here permanently all the site is controlled by them and they impose the opening times. opposite it was abducted from his office the procedures in place of the strictest in all europe masterpieces by artists like pecan so and modigliani i can't boards and sold inside this warehouse that's where the report comes in it covers up deals which are naturally discreet commercially discreet felt but also discreet because they concern fraud of some of those paintings a link to dark secrets nobody knows how many of these secrets a kept inside the geneva freeport system you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it a matter of confidentiality only is it the world's black box of the art business.
eleven thousand people leave syria's militant controlled good at with many more still struggling to make it to safety. frankly. should go away should. be you case the defense secretary resorts to on diplomatic language as tensions between london and moscow increase over the poisoning of former spy sergei screwball and his daughter. the investigation into the murder is yet to produce any concrete evidence with u.k. police saying it could still take weeks to establish a suspect. lawmaker. claims top government officials were involved in organizing the deadly made square shooting in kids in two thousand and fourteen.
and broadcasting live from our studios in moscow this is our to international i'm john thomas and glad to have you with us and we start with the news from syria's rebel held territory of eastern ghouta the russian defense ministry center for reconciliation says eleven thousand civilians have been able to leave the embattled area in the last day using a humanitarian corridor or set up by the syrian government and at least two thousand more are expected to leave in the coming hours through the night the evacuation forms part of an initiative to get civilians in the stricken region out of harm's way until recently many people had not been able to escape the militants there have reportedly been shelling a humanitarian corridor established by russia r.t. arabic correspondent wafa. brought me reports now on the exodus.
i learned from my uncle and i what they need in the absence of civilians are living good or right now by the humanitarian corridor you can see behind me and the passage has been recently opened by syrian forces to happen it's allowing crowds of civilians many of them are children to leave in battle area people are coming from different districts and many civilians were telling about the suffering they face from militants also said they were previously prevented from cleaner we left eastern ghouta you were so difficult when we tried to leave earlier that you were not allowed as it was controlled by terrorists. the army advanced on the town and asked us to leave thank god we are safe and sound and we have arrived here. where you are which is close to the capital damascus came under rebel control back in two thousand and twelve since then government forces have been trying to recapture the
area and fighting intensified there last month the militants have been driven into three pockets with the syrian government now holding a large parts of the territory but the situation for civilians trapped in the embattled areas remains a dire people have been caught in the crossfire and are suffering shortages of food and supplies. ukraine's defense secretary has told russia to quote shut up and go way over moscow's alleged poisoning of former spy sergei screwball and his daughter as the diplomatic fallout over the incident continues it is absolutely atrocious treacherous and outrageous what russia to it insults great we have responded to thought frankly russia should go away should shut up we've certainly raised eyebrows because it begins to feel a little bit surreal when this kind of language starts being used in this kind of language comes into play. especially if you're expecting to be taken seriously
certainly in the world of diplomacy the u.k. has plans to provide a sample of the nerve agents that has been discussed and rebel in connection to this poisoning to the organization for the prague bishan of chemical weapons which russia is also a part of but it's not providing a sample to russia despite requests and messages multiple times from russia throughout this past week to be able to analyze this nerve agent and try to assess what exactly it is and we do know of course the foreign ministry in russia has been saying they would like to know what the substance is we've heard from foreign minister sergei lavrov said russia that russia will definitely retaliate in connection to the expulsion of the twenty three russian diplomats certainly a quid pro quo scenario is sort of traditional in these kinds of scenarios but he did underscore that russia will continue to use diplomatic language when germany
france america and the u.k. have now issued a joint statement on the poisoning which they say well was highly likely to have been orchestrated by the kremlin that requests that moscow provide the organization for the prohibition of chemical weapons with information about the nova chocolate nerve agent program now it follows the british government decision on wednesday to take retaliatory measures against russia in an address to parliament prime minister theresa may announced that twenty three diplomats will be expelled from the u.k. she said that by a lateral high level meetings are also being suspended that includes a visit from russia's foreign minister sergey lavrov on top of that there will be no official delegation from the u.k. attending the upcoming football world cup this summer and we spoke to the russian ambassador to the u.k. alexander. about the incident and the backlash it has triggered he says he does not believe the case is being handled appropriately dunes were greens. the. under the
british course of occasion agent a two three four. is the russian region we asked the british officially by a node to share the samples of that in order to make our own conclusions and we would knight so all the investigation of the scruple is classified we don't have any information we don't have any axes nobody saw even the pictures of the people in the hospital whether they alive or maybe the just in the group. so nobody talked to the doctor you know there is absolutely no transparency in this case and this is where is us but by the way under the international law in the vienna convention we have to give the excess to these people because they're russian citizens and we're also being denied so basically britain doesn't respect the international law and the way how they're behaving. is just. puts a lot of questions investigation into the attack on the former russian intelligence
agent and his daughter is still ongoing and there are still many unanswered questions as artie's daniel hearkens explains and attack by the kremlin on u.k. soil for downing street it seems the case is all but closed russia is the culprit no questions or other. as the prime minister taking the necessary steps to make a formal request for evidence from the russian government given the gravity of the accusations at official request seemed like a reasonable osc but last year though says no such requests were forthcoming. we haven't received any official request from london we've told britain we're ready to respond if they file the request instead of filing the official request the u.k. continues to pull political stunts and moscow also said it would cooperate in a joint investigation within o.p.c. w. parameters it seems this all. it was unacceptable to the u.k.
government. has high resolution trace analysis been run on a sample of the nerve agent no one says from to reason may on that but the promise that believes there's already enough evidence to make it highly likely this was an attack ordered by the russian state guilty as charged mr script atlantis daughter poisoned with an. a military grade nerve agent developed by russia means motive and opportunity are usually needed to prove criminal guilt the nerve agent live in chalk legibly used in that attack was actually developed in the soviet union decades ago and the o.p.c. w. officially confirmed that russia had concluded the destruction of its entire chemical weapons stockpile last year but apparently it was not only russia that had access to research labs and the scientists working there in his back to stand for example which became independent after the breakup of the soviet union it was the
pentagon that helped to demilitarize the facility it was in that very facility that nugget shock was tested to do most of the gerbils up at least in the mid one nine hundred ninety s. western special services recruited a number of our chemical specialists their names are known they also brought some of the documents and continued research in this area including in the us in the u.k. the results achieved by those countries in creating new poisonous substances that for some reason classified under the common name in the west are confirmed and represented in more than two hundred open sources from nato countries we have all the references we're ready to provide them. how has he responded to the russian government's request for a sample of the agent used in the soles reattack to run its own tests apparently no response and no sample why the secrecy if this is such an open and shut case.
has that revealed any evidence as to the location of its production all the identity of its perpetrators hundreds of offices as you would expect continued to work around gathering evidence to identify those responsible we're not declaring a person of interest or a suspect at this time. how does committing a heinous act on foreign soil on the eve of a presidential election and months before the much discussed world cup knowing the diplomatic fallout benefit the kremlin you have to ask one thing if russia wanted to kill this man they could have killed him when he was a prisoner in russia why have they waited this long and why use a chemical weapon that makes it definitely is so russia is behind this that very old to think that the president of russia is sitting in his office deciding who to kill someone who is no threat in them that basically now retired in britain i would guess that mr putin.