Skip to main content

tv   Russia Today Programming  RT  August 29, 2017 12:00am-2:01am EDT

12:00 am
north korea finds a test missile that flies over the territory of japan landing in the pacific ocean south korea has conducted. in response. muslims and refugees are the least welcomed groups in germany according to a new major study that says chancellor merkel plans to continue her open door policy for migrants. a six year old girl survives fridays and lets sounded like coalition air strike in yemen that killed at least fourteen civilians. that's a for me for now kevin owen will be live from hayle moscow studio in around an hour's time next malta international peace lavelle's cross talking the north korean
12:01 am
crisis or if you're watching the u.k. on and keep watching for renegade inc. hello and welcome to cross talk we're all things are considered i'm peter lavelle is an american inspired attack on north korea inevitable one certainly gets that impression listening to washington's war hawks and theirs to knock occurs in the corporate liberal media is north korea a growing military threat of course it is but it is also under threat is there still time for diplomacy.
12:02 am
stocking north korea i'm joined by my guest when the one in washington is the chief political correspondent at c g t n america in boston we have paul atwood he is a professor emeritus of american studies at the university of massachusetts and author of war and empire the american way of life and in beirut we cross the logic he is a philosopher novelist filmmaker and investigative journalist or a gentleman cross-talk rules in effect that means you can jump in anytime you want but i always appreciate it ok weighing in washington let me go to you first here let me read a few quotes here says china could easily solve this problem meaning the north korean problem that unfortunate character of the u.s. has at the united nations that nikki haley says time for talk is over before we get to how the u.s. and its allies look at north korea can you explain to us how the north koreans see their dilemma of be threatening western powers and their neighbor to the south. well peter let's not forget the north korean issue was largely issue resulted from
12:03 am
the cold war i mean the cold war largely waged by president harry truman based on an i c sixty eight document largely about the perception of soviet fear rather than factual assertions about soviet fear and then of course the invaded the north korea the korean peninsula which was one country throughout much of history up until the second world war it was one country one people one culture but then unfortunately the war happened and twenty percent of the north korean population were wiped out of this earth thanks largely due to the u.s. invasion so the memory of history is still fresh and currently the north koreans have. i'm not defending the north koreans but they do have legitimate security concerns you know one hundred sixty thousand u.s. troops stationed across western pacific the cold war architecture for deployment remaining largely intact and also around military exercises between south korea and
12:04 am
the u.s. so the regime of course thinking about its survival and is also feeling threatened both in memory of history and recent developments by the u.s. industrial military industrial complex poland in boston you know one of the remarkable things here is we we every few years we go through this you know this is north korea mania that i call it ok and it of course actions and reactions things that north korea does and reactions to in south korea in the united states and the actions of the south koreans and the americans because of the north korea ok but one of the interesting things here is that why doesn't if there's such great tension in this inevitability of conflict why don't the two sides just sit down and talk because the americans refused to do that why not go ahead paul. well the united states have to go back to why the united states wants to be in asia at all ok why does the united states intervene ten thousand miles from mature and to and
12:05 am
to answer that question you have to go back to the open door policy sounds boring but the bedrock foreign policy of the united states is the open door policy and when china closed the door after world war two initially the united states wanted to set up a client regime in china but that failed the communists took over and closed the open door and so the united states decided that career would be its first bastin against the encroachment of china and the closing of asia to american economic penetration ok but i mean let's talk about this the in this new killer thread i mean why don't they want to talk about that that's very important and that's pressing right now can you answer that boris go ahead home well you know the the real the real threat for the united states from the beginning was always china and you know we talk about one hundred sixty thousand troops stationed across the.
12:06 am
western pacific but there are also nuclear weapons surrounding china china is aware of that and you know the united states uses south korea as its primary base to you know basically send messages to china that. want so the united states is talking about a possible war a nuclear war with north korea because of china well that i don't know that that doesn't seem what. we well what what i'm saying is that you know that there's the chinese they have an angle in all of this the let me go to andriy in beirut i mean the chinese are not there to settle all scores in that part of the world because the united states has such a huge military footprint there the chinese have made it very clear that they want to go she asians they have limited ability to push the north. marine regime and they've offered a number of things solution a diplomacy a freeze on freezer and there's
12:07 am
a lot of the diplomatic talk coming out of beijing so i think you know it's really incumbent upon the united states to react to that go ahead andre in beirut. yes of course actually china. is acting extremely peaceful in its own region in the asia pacific it is being constantly provoke on several fronts and there is that the. trying to reach a peace agreements like the philippines are being contaminated. even at the overthrow their governments there are of course north korea is sitting. between i mean there is a border with china and for russia and just imagine what interests of the west are if there is a so-called reunification of korea hostile the unification if there is a war and let's say north korea is going to collapse then the western regime is going to or western the empire is going to expand to the border with both russia
12:08 am
and especially with china so this took on the sort of big snow on the hitlist sort of being intimidated by the worst both china and russia the two allies and. the north korea would actually be. the new. hostile power because it would become one of its kind of understood that if there is a unification of korea it would be like germany it would basically. it's of the principles and we saw alliances and we saw that happen with nato expansion here when let me go back to you in in washington i mean this is really the crux of it all is that you know the united states is making demands for its client state south korea but you know the united states could make a major move a good. gesture i would even say of taking out its troops what are those troops over there for i mean south korea is
12:09 am
a very affluent country it's twice the population of the north it has it's more than able to defend itself here that would be one step in the right direction i mean the united states is tying itself to an alliance that is a really a no win win for all korea and china and russia but you know if there's a war there i don't think people in memphis are going to be worried about it ok and i think that's a very cynical go ahead in washington. peter i think partly it is etiology and also it is about like i said military industrial complex wars or the prospect of wars are good business let's not forget ten percent of the u.s. manufacturing sector are weapons manufacturing so largest weapons manufacturer in the world also i'd like to respond very quickly to china to make some clarifications because president trump recently tweeted about china quote unquote doing nothing about north korea could do everything to solve the problem and he said they will not allow this to continue well it's really
12:10 am
a myth because for one thing how can he or washington expect china to do everything in turn in terms of security for the united states washington sells arms to taiwan patrolling south china sea regularly and much of the cold war for it employment intact and secondly china did do quite a lot quite a bit actually under as a member of the security council imports from north korea down thirteen percent imports of coal from north korea down seventy five percent western headlines focused largely on the overall trade volume increasing but that happened largely before the un sanctions kicked in finally present argument was that you know how can china than china stop trading with the north koreans not using leverage against north korea well that's it is it logical argument if china did all trade with north korea. how could beijing's leverage when organs come from of course of course you know paul can you weigh in on that there because the united states doesn't
12:11 am
recognize that north korea respective of how you feel about the regime in north korea it does have security interest in the united states doesn't recognize that it has north korea as a sovereign country a member of the united nations and has a right to protect itself but it doesn't recognize it particularly if you look at the mainstream media go ahead and boston well the american government clearly recognizes that they have a legitimate security interest if the american public that doesn't seem to understand that because we don't have a sense of history in our country the united states intervened in a civil war in korea in one nine hundred fifty and turned it into a major conflagration in which millions of koreans on both sides of the border died where millions more of orphans and widows and the maimed were created. and you know the north korean regime doesn't want to see that happen again and uses the south but if there's another war it is a korean war true there will be an absolute apocalyptic collapse catastrophe in
12:12 am
east asia. north korea has i'm to itself with the deepest sense of security that it thinks it needs to protect itself against another onslaught by the united states it's very simple. and the north koreans are not going to preemptively launch their nuclear missiles against the united states all they can't do it right now. the only time they will you they're not suicidal the only time they'll use them is if you know they believe the united states is about to take them out. so essentially it is it is to preserve the regime in the in the current political order there that seems quite reasonable here i do and i'm glad you mention it calling the north korean regime in saying on balance and all that it does not help whatsoever it's very rational to protect yourself or a gentlemen to jump in here we're going to go to a short break and after that short break we'll continue our discussion on north korea and stay with our king.
12:13 am
welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive immunoglobulin my body gets and some bodies that i cannot produce itself around the world giving blood is seen as a symbol of generosity no one does this because it helps people it's just that one of the side effects is that. this applies more. to put money
12:14 am
on your car immediately. half of all plasma based drugs today come from private companies and are produced from paid plasma as well. and. one of the risks of a donation. then is proof that the frequency of pathologies is much higher in paid donations. if i was my. over two years old he will go get the money from the federal and who runs the blood business.
12:15 am
welcome back across the uk where all things considered we're discussing north korea . ok let me go back to beirut under any one of the things i find quite terrifying is how callous the mainstream media talks about the situation in the in the korean korean peninsula because you know what we've heard from paul and weighing in this would be a crowd at a catastrophic event and very destructive here i mean seoul is what twenty mile. away from the d.m.z. there in of course in any kind of military assault north korea would be would be turned into a moonscape like they did during the americans did during the korean war i mean by the end of the person who they were there were no targets to hit but for aircraft by the end of the first year not the third year. how do you tell how do you explain
12:16 am
this i mean that big callously talking about we've run out of time we do we have no more patience you know we don't want to talk about resolutions here it sounds so exactly like they're going on a war footing there and how why do you why would you expect the north koreans to defend themselves again not defending the regime but in the biz the international order of sovereign states that's what i'm talking about go ahead andre in beirut well first of all if you listen to north koreans listen to them a lot. of their governments are that artists of their people when i've been three years ago a spot of the delegation of france a clark former u.s. attorney general so if you talk to the north koreans that actually they have very legitimate concerns the they suffered tremendously during the korean war let's remember that the media coverage of vestal media western media coverage of the korean peninsula was always extremely biased and scandalous one of the greatest journalists of all time of the twentieth century. an australian journalist who
12:17 am
actually went to the war and he who covered the conflict. wrote think about the thousands of for tens of thousands of north korean being literally destroyed murdered in the tunnels burnt alive in the tunnels he even lost australian citizenship for this coverage and he was declared an enemy awful strelley and stayed very good friends of his son and all of this with our lives so i know the entire story it was always boys the let's go back to history also and see why it's north korea so much hate. it's not all that because of the standoff between north and south korea let's remember that north korea together with cuba almost singlehandedly liberate its african continent from of the colonialism so north korean troops and i lived in africa for many years and i will say i think about it a lot the fault in the movie the fault in the goal of the fourth against south
12:18 am
african authorities even through mix egyptian makes against israel during the war of the teachers the. doctors too many african countries even. now rich going through. to help to build that acacia medical system this is not discussed but this is one of the reasons the first never forgave north korea for wrestling the call of ok a little bit legless let's talk a little and say we're going to stay with the current tensions here on the peninsula here when let me go back to you here and i'm so happy to have you on the program to give a very clear. presentation to our viewers about how china thinks about this i mean china does not want to see the north korean regime collapse you would have a refugee problem that would create a security problem and of course as it's already been mentioned on this program is that you would have american military personnel and material going all the way up
12:19 am
to the chinese border china has no interest in seeing that happen and it does have an interest in seeing it negotiated again china has come out with some good talking points to start negotiations is i mean has the chinese given up on it and just rolling their shoulders thinking what the americans are going to do next i mean we saw donald trump you know just attack syria based on no imperial evidence at least it was never presented to the public i mean it was a gross violation of sovereignty and even a war crime i would say so weighing again you know kind of explain to us how the chinese see all this saber rattling. we need to remember that if the u.s. has one southern border. there are two secure china has thirteen borders to secure and many of them are current or former nuclear powers and north korea is just one of them if there were to be a regime collapse in north korea the refugees would be a great burden to their northeast eastern chinese provinces three of them currently under economic us from the economic transformation huge problems for local
12:20 am
population and local economy and also i do not think that the us can wage a war easily because if history is of any reminder look at the countries they invaded afghanistan and iraq recently knob the new countries well they didn't they didn't do very well and i go back in there well and they didn't equip themselves very well in the korean war ok by the way go ahead go ahead keep going. yeah grenada and panama back in the eighty's non of them have a w. and d. or cuba like you said and north korea back in the fifty's and sixty's the beginning year decade of the cold war none of them or nuclear powered countries so i did not think that pentagon would easily go to war with the united states an estimate of how much casualty it would there be was provided by bill clinton aide back in the ninety ninety four period when he told bill clinton who was seriously considering a war with north korea he said there could be one million casualties on top of that
12:21 am
one billion one trillion naturally economic losses so i'm not sure if the united states wants to go to war with a nuclear power have never done so ok but here it's well you know about that and that is one of the reasons why people say that north korea develop nuclear weapons or program in the first place because they saw iraq they saw libya they don't want to be the next victim here you know paul. can you explain to me i mean why do we have this kind of rhetoric coming from the president from the u.s. ambassador to the united nations i mean really it sounds like they're trying to put the public on a war footing they were talking about you know with their patients is gone would. this. diplomatic approach patients from clinton through obama because that's been exhausted i mean what is the next step here are they do you think in your mind they're contemplating a real military conflict against north korea or is it just talking points and intimidation go ahead well if they were to launch a nuclear or an assault on north korea that would inevitably lead to nuclear war.
12:22 am
the north koreans have short range missiles capable of carrying nukes as far as japan from everything i've heard. why would the united states want to ramp up the tension on this. i don't know it's too dangerous. it just boggles the mind you know i'm always telling my students that. allowing nuclear weapons to exist on planet earth is like leaving a loaded gun in a kindergarten soon sooner or later you know if we don't abolish these weapons they will abolish us and yet you know we continue to put them at the front of our. of our ability to threaten well they say oh it's very interesting that you're saying that it's very interesting that you're saying that it's because there's only one country in the world that has ever use nuclear weapons against the civilian population under me let me go to you in beirut i want to ask and i want to stick to
12:23 am
right to die and they should not repeat that same mistake on their i want to ask you and then my other guest the same question now here why doesn't the world accepted north korea will be a nuclear power. the soviet union than russia was china adversaries why can't we live without and mitigate its negative potential ok recognize the country as a nuclear power and go from there i mean i think that is one of the only ways out it's not the best solution i don't see any good solutions to this but the worst solution would be war ok go ahead on. i actually think that the walt is accepting the fact that the north korea is a nuclear power not except to the us were authority in the us and in the west actually north korea we keep talking about the north korean regime and how dangerous it is i don't see it as dangerous and i don't really think if you talk to people here in the middle east if you talk to people in latin america or if
12:24 am
you talk to even people in asia they see it as something but it dangerous again it's something that this it's a big hype that you see. chicago or in los angeles or far away from north korea anyway and you're you see this look i know people walk all over asia philippines. you know thailand based in thailand partially nobody even think about this issue it's absolutely no issue so it's again some kind of and never will be an issue on this north korea provoked an attack north korea is still going to do anything to destroy southeast asia so i'm going to do and i think most likely do to attack japan unless the attack against north korea will come for a walk you know about from the u.s. basis and then of course the delegation will not be against the u.s. but against okinawa exactly exactly that's the thing about if you're in but if you're in most of the parts of the war north korea is not
12:25 am
a threat it's not seen as when one of the things this brings up you know and something i've been very critical of over the years is this in tangle ing. treaties and alliances the united states gets itself into because it ends up being wag the dog you have them with the south koreans who depending on what regime is there at the time would political flavor is that the time they can use the united states is low bridge for what it wants in its security and the japanese do the same thing i mean another alternative and i know that this is again one very bad solution is that you know then south korea and japan. and should have their nuclear programs there do you think north korea is going to like that maybe that's going to make them think twice and is thinking out of the box here because what we've been doing the same it's this the same treadmill round and round every few years we know my goodness north korea is going to destroy the world ok i mean we need new thinking like that going when going to the last minute of the program go ahead of course the united states argues that it is
12:26 am
a force for good you look at the what happened after world war two the restructure reconstruction of asia pacific the prosperity of japan korea but they should also bear in mind that at the same time when it takes sides complicated the situation and created more conflicts look at territorial disputes between russia and japan washington always stand on the side of their allies and when there is a south china sea dispute washington stand stood on the side of the philippines and when there is a east china sea island dispute standing on the side of the japanese again so without regarding the historical issues of comfort women issue with the korean war issue those issues were largely forgotten but they should bear in mind those historical perspectives to truly understand the realities of today and if they did that maybe western audience would think differently about this what i would say is manufactured crisis that we see every couple of years and i want to thank my guests in washington boston and in beirut and thanks to our viewers for watching us here
12:27 am
or to see you next time and remember rostock rules. about your sudden passing i phone lee just learned you were taking your last turn. to us we all knew it would i tell you i'm sorry. so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each pair. but then my feeling started to change you talked about more like it was again still some more fun to feel those that didn't like to question our arc and i secretly promised to never be like it
12:28 am
said one does not need a funeral the same as one enters the mind it's consumed with death this one quite different i speak to you now because there are no other takers. to claim that mainstream media has met its make. bitcoin saul's for trust it's a mathematical formula that solves for trust think about all the institutions in your life that require trust you trust people on the road are going to be not crashing into you you trust that the doctor is professional and you trust the hospital is working in a trust third parties all day long but point is the first trust loz international currency that doesn't require trust it just requires consensus to buy into every ten minutes the protocol and why would you not be buying into the protocol if you're getting fabulously wealthy or watching central banks collapse support i like god i mean while comes and goes but watching central banks crawl into their desk and pee themselves and cry that's what i like.
12:29 am
of both it was a. bit of a shell but not the. last time we changed. each one of them carried. twenty kilos of drugs. forced the fence down. the latest step toward israel. is that they have their own medical men they. listen to them in there they. don't escape or no they don't they don't make or. break.
12:30 am
now well. we started working on the question of the euro before the euro was launched and we had such concerns about what would what we were preparing to do you all know is a blog. god and all of your laws days of the old regime. says
12:31 am
thank you all very much it's. an honor for me to be here to. pay tribute to here on freedom. milton friedman. i arrived in november two thousand and eleven to shoot a documentary the nation was at risk of default and under pressure of the european institutions the berlusconi government had just resigned in favor of mario monti a technician who would have afforded the forthcoming catastrophe it was the first time in a decade that i came back to the land where i was born. to advance a moral vision. a vision of
12:32 am
a society where men and women are free. free to choose italy had been downgraded by the rating agencies and lost credibility in the eyes of international markets there was everywhere a climate of fear and uncertainty about the future. when government attempts to substitute its own judgments. for the judgments of free people. the results are usually disastrous. the italian case with out of control could have even caused a domino effect on the european economy not only to pigs. what was going on in europe in contrast to the free markets invisible hand. which improved the lives of people the governments invisible foot. trampled on people's hopes and destroy.
12:33 am
the word spread and austerity had entered into everyday speech but no one. since the economic crisis would tell you the take of the streets across spain to join the general strike stretching throughout europe is still european politicians which show. but the crisis would be resolved soon applying effect of economic recipes and structural reforms day. 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 deserved this crisis.
12:34 am
first for the german. and. then that are bullied see if you have natural munich local knowledge of google any imposed on austin. and a lot of quizzical as a kid. sees the. local machine. that is sound the big kid enough to buy into my new chip if he isn't in some capacity with a net she for all countries that we wish the weaker economies are. working hard spendthrift. it's mostly complete nonsense for example greeks work on. more hours per week than germans do.
12:35 am
in one thousand nine hundred two the my strict treaty was signed and 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 cooperatives. of which he is now president in twenty four years drought in their colleagues and given back dignity to those who had just been released from mental hospitals schools prisons or simply from their homes they left with the fam a few out. condo full of crazy people they drove around to a small town north of from under the eyes of the outraged locals and they got to change the face of their city a co-operative has dealt with more than five hundred people with disabilities in more than five times some people to content to just serves to turn the nation of want to return today the likely be risk is that it would be shut down triggering
12:36 am
a real social bump no one. in each. one hundred. percent said it. was macro economics you can understand the limits and then with microeconomic you understand everything that happens inside of those limits so macro economic might put you in this room and then micro would be everything that happens inside the room until the new found out to get into and in the stuff that will send it that someone's about to step down. if you send one hundred dogs into the room to get some bones there's only ninety five there you've got a macro problem a structural problem five of those dogs are going to get anybody. cheating on. the dish and to me the bit is now the micro calmness then the psychologist will take those five guys out and they'll examine the then they'll say ok they need more training we need structural reforms they need exercise they'll exercise them in
12:37 am
train or teach about a bipartisan face bones and then they run the experiment again they send the guard to get in sure enough the next time those dogs get in on a. main admission. and tell what had a. chance yet. 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 dog stronger dark faster dark but if the problem is to short by bones the fish. nothing the micro can do about. it. is it really possible that there is such between the upper floors of economic power small everyday problems is it true that we are one hundred dogs in a room with only five bones and who decides when the bones must be ninety five or one hundred.
12:38 am
maybe they keep a z. u . c. k h it out with. the.
12:39 am
tree shaken to its very allegations t.j. you had a hundred fifty billion. today. and. also the other big question tonight the fate of the balance of employees who work in a building. the u.s. financial crisis spread to europe in the form of debt crisis and quickly turned into an economic crisis. so there's a lot of the starts about what's going to. it
12:40 am
was never the strongest suit of the european union. the only way of imposing such highly. toxic policies of for three shifting the losses from the banks to the shoulders of the weakest stock spears of europe. whatever the next.
12:41 am
because. it didn't unique. feel a. massive government intervention launched a new. economy creating jobs balance and social conflicts in protecting the weakest segments of the population this was called the new deal found. yet we're. the only family going to the local but they're going to go to
12:42 am
great imo very 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 just theories remain the source of current economic policies of the west and anything we can do to keep down 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 that's 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 just credits because there's no limit to the amount they present so let's see how money is created in the united states.
12:43 am
seems wrong. to me. yet to stamp out this thing because that's ok and it gains from it because the trail. when some find themselves worlds apart. just to look for common ground. no not one tough. enough winds up down one mile of snakes on the definitions and i'm back. south. and.
12:44 am
taking the city. is. going to bring. me think i'm. going to let you know let me. say that if. this debt ceiling if one means a leftist i mean that the deep but let me focus them tokyo find it to. keep going it. was because.
12:45 am
the federal reserve is not spending money the. the federal reserve much the same way that you have you know. ben bernanke was the president of the world's most powerful central bank the us federal reserve troops to learn we simply used the computers to mark up the shards of your column in the federal reserve we need to preach morning because our board economy is weak and then free from despair really. feeling in the us the creation of a focus on public spending especially when the economy is in trouble. in the eurozone instead during hard times this could happen.
12:46 am
because. she made sacrifices. and sacrifice today terry. the. economy here. for about the big you know the cream and then. it will says. that. was the same. according to science and research institute in italy
12:47 am
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 the matter of the bones if we got it right. that decides how many pounds should be placed in a room of four hundred dogs. is the. little . one to say. it's. ten. ok. so you finally anti-missile disappointment not being
12:48 am
a little. bit are you going to. get it going to be in some. normal. sensitive it's only just i'll just saw him into inclusion of the audience. and i just saw only ability to check or be you know the biggest the only i'm still here you found your answer can until somebody told you. i want to be one of them giannis old son meeting netted gentlemens in n.z. was all you need to punish and continue on to an enormous. damage control chunk. of shit that was somewhat in check while his staff.
12:49 am
came to studies on. what we have learned is that if you are in a situation of low growth even the recession austerity is a very bad idea it doesn't work. 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 country is outside the e.u. was on sinatra's the term. dismantled. believes the documents would. collapse of. the stake. a fundamental east jerusalem of the yet the land the economy. by a little convinced the only and the most vocal blow up if he's going to dog me.
12:50 am
to dinner say they. said to new york city's welcome by the people. who are still while they're all good people to see what you are doing a choice. he did believe she still kilometers i mean. the school pretty clearly going to me about they. didn't believe you don't mean it can be beautiful be going on or image on when. you want to live. but is it true that the national debt is a problem. probably. you
12:51 am
know make a move to grow imagine that because the money is that you need to invest it is that you don't have those on the moon yeah yeah they were underpaid that impressive out of phase with the. problema but. they sold the carry out the the mood of the the man they did with the would go america. course sold it to put a sovereign currency is a currency that is under the control of its issuer so there is an important relationship that exists in any solver country that has a sovereign currency the relationship is that the government collects taxes. is 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
12:52 am
own currency here in the euro zone government spending euro's and taxing arrows but cannot create the currency value of the idea in their available assets that all of america cation the dollar to put in the un approval number need to do without that put into it that it was there was no. movie a problem with the bit with the movie. these are the countries of the world whose public debt 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 repeat in pound sterling at the moment of maturity because the bank of england will make sure that the cash will be now to the italian government is issuing debt audience not
12:53 am
illegal and immoral but new ghost and you want are in fact like foreign currencies and as a result if markets distrust the government then the massively stillborns knowing that the government 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 to your magical political defeat of. the senior. it's. good to me to.
12:54 am
tell you how an academic paper by harvard economist wrote often rinehart 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 was one of the most american comedy talk shows 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 on the line in the columns of their ex bridge time as i've been talking to
12:55 am
a lot of the media across the world they've been 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 why 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 in every. despite seven years having their lapse since the beginning of the crisis the economic studies continue to support the danger of public debt which are too high and the need to cut public spending and the deficit . back also for it doesn't fifty. three percent odds that the least bit dowdy equally month they may be limited in
12:56 am
that it but a gentle we have respect. for them in. that it's. been actually in their creed that it means more ok. percent for example is just something that is. it's like the trinity or something to ignore scientific basis for imposing the number of countries intelligent people. it doesn't make sense if you do death. given the economy or you're doing is you're removing a restriction so you want to think of the economy. don't pick wrong that's all fair to run it's it's educate it's got good capital goods behind it's got.
12:57 am
lots of food you know everything you need in your economy housing production ok but then all of a sudden you put a plastic bag over the head and he can't breathe right and so we can't run and so what we're saying is remove the restriction. see. that you need. money. to be. had to run with. bitcoin saul's for trust it's
12:58 am
a mathematical formula for think about all the institutions in your life that require trust you trust people on the road are going to be. doctors professional you trust the hospitals working in a trust third parties all day long point is the first trust international currency doesn't require trust it just requires consensus by. the protocol and why would you not be buying into this protocol if you're. watching central banks collapse i like about it. comes and goes and watching central banks crawl into their. try that's what i like. basile in the dubrovnik in venice are all fixed travel destinations so it must be nice to live there or is it. the crowds of tourists disrupt the city's economic and social life in them
12:59 am
a little bit before this on the celestial get out of that it was such a traditional story some nas stands by him some time to see them as we finally into a school my days and i'm on my feet while the cities try desperately not to collapse all powerful corporations collect the profit of the cool we'll put to the couple who will probably go on the dole coffee cup in cali economy in the bushes up their own sobs knock up the suppose it's only in a. fun land. is a tourist phobia fulfill fell into an identity.
1:00 am
this morning as texas residents flee those devastating floods there's a shocking response from some trump opponents who are less than sympathetic towards the plight of the mostly republicans they will tell you all about that shock also to south korea conducts bombing drills to demonstrate quote overwhelming force just hours after yet another north korean missile test. and no way to learn palestinian children we've got this story they've ended up with no school to go to after israel's bulldozed six of them in the west bank.
1:01 am
by good morning a.t.m. tuesday morning you're more secure right now my name is kevin owen here with you for the next thirty minutes here from out of a starting with this those devastating floods in texas of course still ongoing that place is being pounded right now by tropical storm harvey it's been downgraded from a hurricane but it's affected hundreds of thousands of people the city whose turn is one of the worst hit and floodwaters are expected to continue to rise the damage from the storm is still being assessed but it's already being compared to hurricane katrina back in two thousand and five president trump is set to head to texas to be briefed on relief efforts but we can report this morning shockingly the disaster has got a political angle one twitter user has praised the floods for cleansing texas of racists others a jubilant that supporters could be affected some said voting republican could have
1:02 am
brought this on texas political analyst charles alltel told us that in the face of the tragedy the nation should be united not divided. texas first of all is not a state that is one hundred percent white by any stretch the imagination there is a large minority hispanic population there is a large minority black population in texas this is a natural disaster it has caused untold suffering we still don't know how much damage is down there yet and you know this is a time where people should really be coming together blaming a natural disaster of one hundred somebody because his or her political view views is stupid basically. meanwhile the political divide keeps growing in the united states with the state of california coming to the forefront of the media's attention to right wing rallies were canceled in the city of berkeley and some from cisco because of fears of violence. reignited the debate over stifling free speech
1:03 am
. anti-fascist protesters in san francisco are celebrating victory over a right wing group a treat for the organization canceled its free speech rally on saturday saying they wanted to avoid potential violence while san francisco mayor ed levy was full of praise for the city's left leaning community as the mayor san francisco i cannot express how proud i am to all the residents all the faith based leaders all the community leaders in the community groups patriot prayers leader has admitted that his movement has indeed attracted white supremacists k.k.k. members and even neo nazis but at the same time publicly denounced white supremacy i just saw nazis i do so in a white supremacist. speakers and only one speaker is why. you know we have a couple black speakers hispanic we have a transsexual speaker we have a woman speaker it's
1:04 am
a very diverse freedom of speech and assembly is a us constitutional right but when we see controversial groups like patriot prayer canceling their rallies under pressure is this a violation of those freedoms or should they be held accountable for attracting radicals but if you compare prayer groups is there not just white supremacist or not that there's a very that people just show up well you know what maybe. they are accountable for it and we're going to hold them accountable we've been having peaceful protests for decades across this country very controversial topics founders wanted people to talk if they had views that were controversial let them be expressed if they were stupid let them be exposed as being stupid and let the big. be criticised but to shut topics down to shut discussion down is anathema to the american experiment so i think we've got you the authorities really need to step in and change the tide here so where do we draw the line between free speech and hate speech while in the
1:05 am
case of patriot prayer in san francisco it's virtually impossible to judge considering free speech from a protected under the us constitution a similar situation took place in neighboring canada when a university panel on freedom of speech was called off the reason while some of the speakers were deemed too controversial by left wing dr that's preventing hate speech yet guaranteeing free speech is arguably the biggest challenge facing our society today samir upon our t. washington d.c. . the first seven months of donald trump's presidency seen a support slashed by more than a fifth if you thought the democratic party were making gains on that but it's got some surprises in store. only seven months into his term and already trump is being labeled the most unpopular president in all of american history a recent gallup survey showed that at this point only thirty four percent of americans still support him so you'd think that the democrats would be riding high
1:06 am
given the focus and volume of trump bashing i've seen it over and over again i think he's the most deplorable person i've ever met in my life he's not he lives a lot. he says things that are true that's the same as lying i guess presidents behavior make i mean as as you point out it's sort of shocking but not surprising turns out that for a lot of americans opposing donald trump does not equal supporting the democratic party at this point only forty two percent of the u.s. public has a favorable view of the democrats and this is translated into fund raising difficulties in july the democratic national committee only raised three point eight million dollars that's the worst july fund raising they've had in over ten years and at this point polls show that for many americans it seems like the democratic party is just all about opposing trump. the democrats have a message a message beyond dump trump you know an actual policy message we decided to ask
1:07 am
folks here in the democratic party stronghold of new york city the policy proposals . i mean specifically i'm not sure. nothing comes to mind nothing now. now. can you tell us one policy proposal the democrats have put forward in twenty seventeen. peach. like hating trump is enough for the democrats to to win on. now i mean they have to have something to back it. up with something is the stupidest thing you could have actually you've got to come up with something come up with solutions to the country they don't have a message. they have a message that trump is evil and anybody who supported trump is evil and frankly that doesn't sell i don't think most americans think of themselves in those terms even if they don't particularly like trump and i think the democrats are coming across as having no ideas no solutions betraying their traditional working class
1:08 am
base in favor of identity politics and it's not doing them any good it appears that feeling trumps sentiments is not really a solution for the democrats if they want to win the voters trust they need to emphasize what they stand for not just what they stand against caleb mop and art see new york. tension spike he once again on the korean peninsula after north korea's conducted another missile test it then prompted immediate reaction from the south and from japan but north korea missile this time flew over northern japan the government says it crashed into the pacific about one thousand kilometers east of the mainland just hours after the then japan deployed a missile defense system at a u.s. military base in tokyo as part of a previously shared you will drill the south korean air force also helped me exercises in response to pyongyang's actions both countries called it a violation of the u.n. security council resolution however human rights lawyer erickson wrote can had
1:09 am
something to say about it he believes the arms race should not be a response to north korea these exercises are often used to show off new technology if you will so it's not always a reaction to north korea however it seems to be increasingly a. sore point over the years with north korea and we should begin to recognize that we can't step back from these things president trump said that these military exercises were totally off the table that is not a position to go into negotiations with. last week south korea the us launched joint military exercises that were considered a provocation by the north korean young said it sees the drills as a dress rehearsal for an invasion this hostile rhetorics escalated recently between washington and pyongyang the north korean leader kim jung un has threatened indeed
1:10 am
to strike the u.s. pacific territory of guam with president trump warning that any such act would be under much publicity met with fire and fury samuel from the council of korean americans believes that all sides of fitting the tension on the part and she live. by think this is clearly a response to the joint military exercises a provocative response fairly predictable looking back in history i think the fact that. the missile was launched over the country the only country in history which is actually suffered loss of life due to nuclear. weapon is extremely provocative. and there's a message being sent there in that missile test but. to me every missile test is a message. as the new school year kicks off in the west bank children one village near bethlehem of ended up having no would. they're just going to have to study in tents
1:11 am
or even outside last week israeli authorities demolished their classrooms. as you know the soldiers came and started shooting in the air. people and then they started destroying the school and i was in i feel so sad that our school has been destroyed. i'm so upset because they raised our school i love studying so much one day i want to become an engineer. but those cabins which were meant to serve as schools with a native by the year as well as all the necessary education equipment inside to the main aim of the project was to provide local children with an opportunity to try to get an education maybe home as it turns out now after all this the nearest schools know an hour's walk from where they live here a kid that's a long way well jim one of the countries behind the educational projects condemned the destruction saying that the move by israel is unacceptable adding that the project was to meet humanitarian needs was quote in keeping with international
1:12 am
humanitarian law paul asli i went to the village effective forest to check it out. the night before the new school year started israeli bulldozers arrived here on the outskirts of the palestinian city of bethlehem to demolish seven caravans at recently been erected as a school for some one hundred bed when students from the area now this was one of fifty five schools in the area that had recently been given a demolition orders but the difference here was that the demolition order came the same night that the school was destroyed there was some bombs there was tear gas and the solution has been this tent that was put up to try and accommodate at least some of the children so they could hold classes thought. well there is a strong wind we give cold we have classes in direct sunlight some of. stroke and get sick and the when it gets colder people get to go to trial had
1:13 am
committed at the love to believe in the kids from our village were so happy when they had a school and when it got destroyed they were very upset the kids used to love going to school they were so enthusiastic about it and now they're asking all the time why do i have to study in a tent the children need water bathrooms and there is nothing like this in this so-called school the situation inside the tent is extremely cramped there are four classes that are happening simultaneously now and most of the students are not in there they've been sent to a school that is around ten kilometers away and as you can well imagine it is a far distance for children this age to look and many of them say along the way they are often accosted by said here's a quote actually no we generate from council in the first quarter of this should it when she spoke cases of schools like this being destroyed by the israeli army post here r t j but i did outside bethlehem of two you asked the israeli officials for
1:14 am
calm and judging by the response they say the schools were built without the required planning perm. it's from the israeli authorities this is being presented and that's the main reason behind the demolitions now to me today only a member of the fatah revolutionary council told us there is a shortage of not only schools but also hospitals and housing because of israel's reluctance to give palestinians construction permits this time we're talking about three schools but these are not the first three schools our hospitals. suffer from the same thing our economy suffers from suffocation israel has by international law the responsibility of building schools they do not build schools. and at the same time they don't give permits to build schools. nor nor houses we have shortage in hospitals because israel doesn't give permits to build hospitals and at the same time they are building freely on our land schools for israeli settlers who are
1:15 am
illegal colonial sellers on our land and they're free to build their schools. right here coming up the trumpet ministrations impose visa restrictions on come bodhi will tell you why and bring you the reaction to it.
1:16 am
in case you're new to the game this is how it works in the uk the economy is built around corporate corporations from washington to washington controls the media the media and the. voters elected a businessman to run this country business because. it's not business as usual it's business like it's never been done before. the law trumps delivering on a campaign promise his administration this is set now to impose visa sanctions on four countries for refusing to take their own citizens many are in the u.s. illegally or face deportation of a criminal charges one of the countries in questions cambodia that in twenty seventeen that country agreed to receive thirty four deportees but only
1:17 am
a quarter of them returned home from two thousand and two seems almost six hundred people faced deportation to cambodia takes a look at what's behind the route now. cambodia is a state that rarely makes the global headlines but that could all be about to change given that stinging criticism for america recently it comes after the u.s. state department's comment on the country's state of democracy the united states government is deeply concerned by the deterioration in cambodia's democratic climate in recent weeks two months ago cambodia received widespread recognition for running transparent peaceful local elections in the past two weeks however the achievement has been eclipsed by troubling government actions curtailing freedom of the press and civil societies ability to operate cambodians are well aware of what a democratic process means you do not need to tell us what it is we wish to send a clear message against the us embassy that we defend our national sovereignty and here's what might have brought about this war of words cambodia recently expelled
1:18 am
an ngo from the country and that receives funding from washington they fishel reason given was tax evasion such problems began for the national democratic institute when the organisation was accused of working with the main opposition party in cambodia there are n.g.o.s who also will want to create a color revolution and topple the government like they have successfully in other countries so why is the us even interested in cambodia well it may have something to do with the fact that the come bodhi in government has begun to take a more anti-american line cancelling financial and military aid from the u.s. and turning to china for assistance instead and cambodia isn't the only southeast asian country pivoting towards china the outspoken president of the philippines explain his change in foreign policy when it comes to the u.s. . and they hope to stop these good would have been a belief with you why because western were.
1:19 am
you'll never. believe the. and alliances like this one aren't sitting well with washington their heads of the philippines just so he leaves for china negotiated with china we've been to the philippines practically for ever a very important strategic ally and what happened was china and russia are probably going to take it america's loss it's fast becoming china's gain while the u.s. just continues to criticize those pivoting away from all the alliances signed the seeders understand that. the. united states where. we live says that yes this is sold china hopes to even be able to is so as the best option. as the best friend. i want to be interfering in the. year in
1:20 am
contrast to western countries. seems almost a fifth of people in germany say they would not welcome having muslim or refugee neighbors come out of a recent survey as the country continues to try an integrated influx of migrants this poll suggests that nineteen percent of germans were against the idea chancellor merkel's promoted of course the big open door policy since the beginning of the refugee crisis but is occasionally backtracked on the issue the study's findings come less than a month before the germans had to the polls the latest figures you can see behind me suggest that i'm going to christian democrats are well out in front i'm martin shell says party ahead of the rest too among those trailing is the alternative for germany party set up just four years ago that parties gain popularity by criticizing merkel's open door policy and putting the interests of native germans first. zero zero zero zero zero will initiate an investigation committee and then go to merkel in parliament it will dispute breaches of law and not only with the
1:21 am
refugee crisis but also with the euro rescue policy which violates european treat is. if you ask me what your political career is all well and good merkel should be taken to an ordinary german court and tried as a private citizen so that she is fairly judged for her breaches of the rule or your correspondent next looks at how the issue of integration could influence voters in next month's german election. angela merkel currently sits around sixteen to seventeen points clear in the polls ahead of elections that are in well just under one month's time here in germany when she was talking in a recent interview about the twenty fifteen refugee crisis well she said that if she could go back in time to that point she wouldn't change a thing in the past the german chancellor has spoken differently on this issue we didn't embrace the problem in an appropriate we the d.l.c.
1:22 am
goes for protecting the external borders area in previous times those statements have helped or at least been part of giving her a kick in the polls well something she clearly doesn't need out the moment in response her main challenger barton schultz of the social democratic party here in germany also of course remember the former president of the european parliament well he described the german chancellor is out of touch and aloof however that is and seemingly pulling him back on a limb or calls lead at the moment but of course we also can't have an election in europe these days without russia getting a mention in this time it's come courtesy of hans your mouth and he's the head of to be a file it's the same as say the f.b.i. in the united states or m i five in the united kingdom the internal intelligence service he said that russia has the potential to carry out sophisticated hacks that hell every day and went on to say that there's absolutely no evidence to suggest
1:23 am
that this is in the pipeline at all that it's set to happen which leaves many questioning why he decided to give that interview in the first place but the situation we have at the moment is that with angela merkel so far out in front in the polls it does look like this is a german election whereby the interests of voters may take something of a back seat as the focus turns inwards towards what type of governments angle or merkel will be able to form and what type of coalition she will opt for when she ultimately returns as the german chancellor. a number of political leaders across the globe have slammed the u.s. sanctions imposed on venezuela last week the bolivian president evo morales rushed to brown the action a financial blow or the cuban government denounced the move as a violation of international law on monday the chinese foreign ministry shared beijing's reaction to the news to the experience of history shows that outside
1:24 am
interference or you know after all sanctions will make the situation even more complicated and will not help resolve the actual problem the u.s. sanctions applied friday target any financial deal struck with president would do or his government as well as with the venezuelan state all company experts say the sanctions could send the country down an economic spiral than and cause rampant inflation but what multinational investment bankers managed to dodge the restrictions we're talking goldman sachs it's said to be the only company on the list that sig zent after its controversial decision to buy a was three billion dollars worth of the bombs in venezuela's state oil company back in may the move was seen as an attempt then to supply a fresh funds to mature as government but goldman sachs deny the allegations saying it made the investment because they believed in the brighter future for the country professor of latin american studies daniel schorr is convinced that the financial elite though are pulling the strings here. you know how hypocritical that the u.s. government is supposed to be knowing that it's well over one of the largest u.s.
1:25 am
banks. so do whatever. their profit margin is the front page news stories in the mainstream media always seek to deal in any country this is so obviously outside of the us so you see the banks are the sanctions because it is a profit off of venezuelan markets of it as well and day it shows today who's in truly interim in the us economy they've been. doing it is that why it is that it surely controlling us car is the president's party spoke exclusively to venezuela's foreign minister about the tension between the countries he believes that it's the opposition in venezuela has to blame for the new u.s. sanctions. but the most natural reaction of international organizations like the un would be to recognize that the sovereignty of our country must be
1:26 am
respected curb attempts of interfering into the internal affairs of venezuela and refrain from adopting a policy of unilateral sanctions that violate the principles of international law so that you understand what kind of opposition we have they have been low been going to washington to achieve those sanctions against venezuela now they are trying to convince the people of venezuela that the sanctions are the fault of president ma durham this is completely absurd and the world must know this. here truck is awful floods in texas and for the latest on the korean peninsula to just appear the top story to follow today tuesday the twenty ninth of august darty dot com or any of our platforms i'm kevin now in from a good morning maybe sneak in a half an hour.
1:27 am
coin saul's for trust it's a mathematical formula that solves for think about all the institutions in your life that require trust you trust people on the road are going to be crashing into you you trust the doctors professional you trust the hospital is working in a trust third parties all day long but the point is the first trust international currency doesn't require trust it just requires consensus to buy into every ten minutes the protocol and why would you not be buying into the protocol if you're getting fabulously wealthy or watching central banks collapse support i like about
1:28 am
it i mean wealth comes and goes but watching stocks of banks crawl into their desk and pee themselves into try that's what i like. with this manufactured and sentenced to public will. when the ruling closes some project. with the frame of. the will. we can all middle of the room signals. to leave room for the real news is real. time when the frances is boom bust broadcasting around the world right here in washington d.c.
1:29 am
tonight oil and gas prices first spawn to hurricane harvey as it hits the gulf causing evacuations of oil platforms a shutdown of facilities and some supply lines wiped out also crypto currencies are in the hot seat in china and canada it's a sector still operating in the gray zone some want it to come out into the light and some want it to be outlawed even as breakpoint has great millionaire. overnight and artificial intelligence and the sharing economy my gas details crowd based capitalism here in the united states around the world stand by for right now. the widespread devastation of hurricane harvey which hit texas over the weekend has
1:30 am
dealt a devastating blow to the state's refinery rich coasts about two point two million barrels per day of refining capacity is projected to be brought down according to analysts at s. and p. global now key facilities along the gulf coast are temporarily shut down drilling platforms and rigs are evacuated and flooding in the houston area has seriously pinched supplies many shipping capabilities have been taken out even before harvey hit the prospects of supply disruptions and gasoline futures to one dollar seventy four cents a gallon the highest level since april retail gasoline prices push the national average up to two dollars thirty seven cents a gallon analyst for gas buddy predict that the dominos are starting to fall and it is slowly turning out to be the worst case scenario. the euro has reached its highest level since the beginning of two thousand and fifteen it rose to one dollar nineteen cents from one dollar eighteen cents after
1:31 am
a speech by european central bank president mario draghi at a meeting in jackson hole wyoming analysts predict that the e.c.b. may announce a tapering of quantitative quantitative easing at september seventh policy meeting euro strike can hurt shares of exporters because it can erode revenue made overseas surge pushing lower shares of exporters across europe today gold hit its highest in more than one week as we watch the euro plunge ahead as u.s. gold futures were up point three percent at one thousand three hundred one and ninety cents. also president donald trump made threats to scrap the north american free trade deal and then expressed disappointment in meetings but that's trade partners canada and mexico which further supported gold price this comes as british officials arrive in brussels hoping to push the e.u. to talk it breaks it to force the e.u. has refused to accept before talking preach transition issues such as expatriate rights.
1:32 am
with every generation new technology has made life easier in the washing machine to the car however when we talk about new technology invariably the topic leads to drops protections for workers etc joining me to discuss this is aronson professor of business at new york university and author of the sharing economy thank you for joining me on this now in your opinion is there any real limit to what an ai could do for businesses or for society is for is not only making making it more our lives more convenient but also helping you know expand the type of jobs we have. well we're certainly going to see a great deal of advancement in you know convenience and comfort because of artificial intelligence and robotics. to be solving the problem of
1:33 am
perception being able to see what's around you and make sense of it and of natural language processing in able to communicate like humans so across a wide greens of both businesses and in the household we're going to see a lot of convenience but in many ways every generation that has this kind of revolutionary for their time technology. like you know enjoys the same kinds of benefits and so the dishwasher or the washing machine would received the same kind of joy as you know our intelligence agents are being received today. well some fear that it could be the death of the american worker but others say that it will actually bring in jobs even as it replaces workers what do you think about that because obviously if it replaces jobs or is going to be some lag time there and people don't have time for that sort of talk right now. you know well lindsey it's going to be a little bit of both. you know there are certain kinds of jobs that are going to
1:34 am
see a steep decline over the next ten to twenty years jobs in retail jobs that involve driving jobs and things as sophisticated as financial compliance the combination of robotics and is going to render a lot of these jobs done by machines rather than humans but you know again like you know one hundred years ago forty percent of the u.s. workforce. was engaged in farming in some way today that number is under two percent the machines replace the humans there the machines have been steadily be placing the humans in the manufacturing sector in the united states and so you know as these jobs are destroyed new jobs are created because new industries are created things that used to be informal become formal new human aspirations are met you know in one hundred years ago there was no tourism industry to be employees eight
1:35 am
percent of the world's population two hundred years ago there was no health care industry today it's twelve percent of u.s. employment so it's going to be a destruction of a lot of today is jobs but a creation of a lot of new jobs because new industries the new capabilities come along well it's look at china it's pushing hard on ai technology it wants to become a world leader by two thousand and thirty probably sooner than that if it can swing and how does the u.s. compared to its development versus a i in china. well china has certainly got one big advantage today which is that there is a centrally sort of a government coordinated effort to become a leader in the next decade sort of in the same way that there was a concerted effort to win the space race in the u.s. about fifty or sixty years ago but as in. the united states a lot of research is happening in pockets of universities that companies like
1:36 am
google so china is almost certainly going to be the world leader in artificial intelligence over all but there are going to be capability is that the u.s. is going to be ahead of the rest of the world and simply because we've got the deepest bench of academic researchers and the deep bench of industry researchers who are individually sort of like you know top of their field in different sort of slices of. the thing that makes me think about china and sort of like you know more saliently is the fact that. you know china employees more than any other country in the manufacturing sector that over eighty million manufacturing workers in china you know at its peak the u.s. which was the largest manufacturing base in the world at the time had twenty two million manufacturing workers a lot of these jobs are going to be automated over the next twenty years and so on the one hand while there are big investments in x.
1:37 am
i think that it's imperative for the chinese government to also start thinking about transition strategies mid career transition strategies that will allow the people who are currently employed in manufacturing and even some services to be able to sort of leap from where to the next generation of work as and when that's created. well let's take a look at some information we've got here this graph we see that while. you know many many factory jobs are on the decline since the ninety's you and i talked about that as you point out the health care industry has been thriving those are big numbers we could see a similar pattern in what new jobs and industries would thrive and grow as a i you know becomes more common and we start counting for them in our economic models as i mentioned there's going to be some lag time but what do you think. the jobs that are going to continue to be secure i'm guessing it's sort of you know bedside manner with with regard to health care and things like that what do you
1:38 am
foresee. the pattern that i've seen through history. is that things that used to be informal become formal and so health care used to be something that was done a toll. as we ordered me to farming and as we sort of got beyond the point where we had to spend all our time protecting ourselves and feeding ourselves that emerged as an industry so i certainly think that there's a tremendous amount of growth potential in the care industry i certainly see a lot of potential for growth in the education sector right now education while we've made great strides in the last hundred years is still higher education is largely sort of for a small slice of society with the technology is i think it will become a lot more ubiquitous it will be something that you can access the different points in your life and i think that this will be a bit a big growth engine. but i also think that there always is more and more human
1:39 am
aspirations that. the things that occupy our time to be can all be posts you. there are challenges to the planet in general climate change you know threats from outside. that could potentially take up a lot more of our time if we shift away from the spending time on now so i have no like you know i talked about this in that article that you sort of pull the graph from that you know the future of work has always seem bleak to the people who are seeing the technological change they look at the machines and they see well if the machines do what we're doing now what are we going to do but if history is any indicator the old saw with the well this time is different now because the technology is a whole day that they say that light a lot worker protections and things like that but if workers have new jobs the fight to protect them is on and important obviously to fight that that's no
1:40 am
argument for not pushing forward with technology at least in my opinion and i'm sure you know a lot of people one of the things i've got a question about is in your book you take detail you know the sharing economy and how it comes into play you even talk about when you wanted to take your daughter to school and you noticed all of these cars on the side of the road you live in a big city and you're saying i wish you could just borrow one of these cars and now you can how is the sharing economy feeding into this in a very rapid rate. well i think the fact that the sharing economy is changing what it means it's changing how work is organized and so because of platforms like. the labor platforms like poor even sort of platforms for lawyers like up for consultants like cattle and what we're doing is we're taking the traditional full time job and we're breaking it up into projects each of which can be done by a different people. different person so the need for companies or the need
1:41 am
for full time employees starts to go down the reason why this is important when you're thinking about automation is that if the work is broken up from jobs into these tasks automating a couple of tasks is a lot simpler than automating and entire job and saw the sharing economy and together that's what we have to look at if we really want to predict the future of work very interesting to hear thank you so much erin sadar john professor of business at new york university and author of the very interesting book the sharing economy thank you. we're going to go to break now stick around because we got back groundbreaking cancer treatment company has been bought by galleon scientists important to watch there and cryptocurrency is could face a crackdown in china and elsewhere as we go to break here the number of the.
1:42 am
live. welcome to the ocean are already rumors and we're not going to want to hear that.
1:43 am
wow. wow. wow wow i. thought it was supposed to some of us there was a. bit of. disposal. last time we chased. each one of them carrying twenty kilos of drugs to this very first offense. is the main thing. they have. this is for me. i don't know maybe. i will bring. more. than one.
1:44 am
elliott scientists will pay eleven point nine billion dollars in cash for that company to buy pharma and plant a stake in an emerging area of cancer treatments that train a patient's immune cells to attack tumors the shares of twenty nine percent to one hundred seventy nine dollars fifty cents in early morning trading on monday after the deal was announced its stock rose sixty six cents to seventy four forty five kids potential treatments including one for the blood cancer lymphoma that could receive u.s. regulatory approval by later this year called cart see this type of therapy
1:45 am
includes removing immune cells from a patient's blood reprogramming them to create an army of cells that can zero in on and destroy cancer cells and then inject them back into the patients daily it has developed top selling treatments for hiv and the liver destroying hepatitis c. virus the deal helps establish illiad as a leader in so-called cellular therapy. on friday president issued more sanctions on venezuela that decision got a negative reaction from embattled president nicol nicolas maduro as government but now some of venezuela's allies are coming to the country's defense. has got more on that for us. trying to pick up the pieces here wellness particularly case we're talking about trying and they sort of have a two part argument here on one hand they think these sanctions are simply not
1:46 am
going to work and on the other hand perhaps more importantly they think it could make the situation in venezuela even worse and make their venizelos relationship with the u.s. also worse so they don't have much faith in the sanctions. days after the white house announced more sanctions on venezuela the chinese government came out in support of its close ally and beijing made it clear it doesn't have faith the sanctions will have any impact whatsoever during a press conference on monday a spokeswoman for china's foreign ministry said the present problem in venezuela should be resolved by the venezuelan government and people themselves the experience of history shows that outside interference or unilateral sanctions will make the situation even more complicated and will not help resolve the actual problem considering the close ties between both countries the comments aren't too surprising earlier this month china defended ben as well as constituent assembly
1:47 am
saying it was quote generally held smoothly those remarks stood in stark contrast to those from the u.s. and europe accusing the assembly of severe of voting irregularities and part of that is due to the business relationship between venezuela and china especially work concerns energy they currently have an oil for a loan deal venezuela hasn't been able to keep up its end of the bargain in fact the shipments are behind schedule and china is owed over sixty billion dollars despite the setbacks relations are still strong right after those sanctions were imposed by the u.s. officials from venezuela immediately traveled to china during that meeting both sides began working on a new investment fund to offset the boy that the u.s. government is trying to expand venezuelan president nicolas maduro ordered state run firms to increase the ratio of shares held by chinese investors ok so they landed china these sanctions that different from the ones previously brought on
1:48 am
venezuela yes so basically the difference between these sanctions and previous ones are just the scope of the target initially the sanctions were attacking president during his inner circle and you know the relations that they could have with people in the u.s. with their business opportunities but. this time it's basically an attack on venezuela's economy so it's actually in the entire country instead of just his administration and american businesses cannot give money to venezuela or their state run oil company and of course the intention there is if the approach is at fault they would have a harder time raising cash that so you know on top of that of course we know that. verbal expressed that he would be open to military action that was of course not in the official sanction statement but he did say that he would be open to that which is why then as well as taking these sanctions even more seriously than before these ones are a bit harder aside from china though if any other nations come forward to support
1:49 am
as well i mean i can imagine it's just one yeah it will china is great to have on your side. certainly not just china in fact the former heads of state from spain the dominican republic and panama recently got together and formally condemned the sanctions said basically the same thing as china that one they're not going to work and they're just going to make the situation harder to deal with and approach in the future and i mean in terms of south america countries have been kind of divided but we've seen pretty solid agreement in the caribbean nations to support venezuela so it really different throughout latin america but then at the same time you have the organization of american states which include many latin american countries and they have come out many times to keep issuing sanctions on venezuela because they want to right and so we're also looking at a situation with civilians where a lot of the allies evidence available say yes but this is going to trickle down to them too nicholas materials because government has got such
1:50 am
a stranglehold on the power there nothing's going to happen is that right yeah i mean he right now there's nothing the outside forces feel kind of powerless so that's why they know they have to go right after the money they can't say ok well we're just not that we're going to cut off diplomatic ties that's not going to. no that's why they're going right for the economy and if they eventually do approach or to fall which a lot of analysts are suggesting that could mean a lot of trouble for his administration because people there we know are already struggling enough all right thank you so much. and michelle coyne offerings on crypto currencies such as big coin may face a crackdown by the chinese government these digital currencies allow anonymous peer to peer transactions without the need for banks or central banks the chinese government has issued draft regulation broadly aimed at illegal financing which it says includes virtual currencies as the it calls it now an important detail for the first time illegal fundraisers will be accountable for their own losses couple this
1:51 am
with stiff prison sentences participating in digital currency funds used to be punishable by death now with life in prison illegally absorbing public deposits will get you ten years in jail though also crypto currency is massively popular in china big coin has hit all time highs this year that most recently leveled at four thousand two hundred ninety six dollars a theory of big coin neo like coin ripple stratus and a range of others have created overnight millionaires with many of their creators pushing for initial coin offerings in order to create an exchange. but as china is certainly not alone let's head to canada with few rules and regulations currently in place when it comes to initial court offerings some are worried that if not controlled both businesses and investors may be playing in a grey area where problems may arise artie's in high limits as in toronto with more for us alex both canada and the us are approaching this issue in
1:52 am
a similar fashion introducing rules on how crypto coins can be used in these terms what can you tell us about that it's big business and we're seeing the. group two coins are basically using what we're hearing is called an old sort. and michel coin offering much like an i.p.o. and what instead of having shares you have crypto currencies which fluctuate much like shares so this basically takes the game out of the game because we have all kinds of rules and regulations when it comes to shares but with i.c.a.o. those this is a bit of a different gray area right now but let's let's go to a couple graphs just to understand just how big this is getting if you look at the first graph here you can see that the monthly i.c.a.o. funding college just skyrocketed month after month this year and then this other graph shows something very particular here that actually i see zero funding has surpassed angel investors and seed capital funding in many areas so the problem is though is the uncertainty with this area so when we talk about i.p.o.'s and we talk
1:53 am
about shares we know that there is disclosure of that's necessary for companies have certain things that they must disclose there are certain rules and regulations to not only protect companies to protect investors as well so now since this new area has popped up the governments are trying to react to it and they're trying to figure out is this a coin is that a currency or is it a share but the american government has just recently made a decision and it's moving along the same lines as the canadian government we know that the u.s. regulatory regulators they use securities and exchange commission recently learned ruled that a major crypto currency was offering which raise a hundred fifty million dollars u.s. last year will in fact this is a securities offering not a currency offering so that really brings that into a realm which is understood by these type of regulators so the question is are they going to do this doing this in every circumstance or are there circumstances where
1:54 am
this can be viewed as a currency instead of a share but we know the the winkle vi. have been trying to push this through the s. the s.e.c. with their crypto currency in essence he keeps coming back and saying look if you cannot protect investors we got nothing for you china. as i mentioned earlier very heavy handed approach but can you tell us a little more about this fascinating and heavy handed approach china's taking will try to have the same concerns we do really and people might get ripped off in this whole big scheme of things and the fact of the matter when it comes to trying to look a sixty five i c o's this past year four hundred million dollars involved hundred five thousand investors i mean this is happening very rapidly and quickly and there's literally you know they're going to five star hotels people are renting out these huge rooms and they're packed with people wanting to invest into this game the fact of the matter is though that the chinese government saying look this is again something that we're not too sure about we don't want to see things like pyramid schemes popping up from those they they know that there could be some type
1:55 am
of illegal actions that when you're moving into something that is regulated so the chinese government is saying yes we are trying to put some regulations together but they're going as far as to say that they might shut this thing down altogether this type of investment the i c o's that they won't be able to move left or right they're going to shut it down until they can figure out how they need to regulate it properly what do you think about all of these new cryptocurrency spazzing out they want to take you back off the success of that coin that coin is upwards of forty four thousand dollars i'm sure you're aware right now do you think that it's there there drown out that the market only has room for maybe three or four i was wondering about that earlier today i mean look at there it was a big one and that's more business to business but bitcoin i mean i wish that i listen to my friends at work so google right now five years ago i would have been one very wealthy man the fact that matters it's still a new game out there so who even knows if this is going to last really like me very
1:56 am
much sorry about that i got a lot to offer got to go outside of it all toronto thank you sir. it's over to greece now it's produced line for over four thousand years and it's one of the toughest ours but for two long years most citizens of them buying it. legally in two thousand and fifteen greece created a special tax on all wine whether it was produced locally or imported the government was trying to generate additional state income but of course prices soared wine that used to sell for about four euros or around six dollars jumped closer to seven euros or eight dollars because the tax was so disliked many turned to the black market wine experts believe that it sheltered more than sixty five percent of all wine sales there is an end in sight though the greek government has now seen the error of its prohibitive ways and is looking to halt that tax by the end of this year. that's all for now check out the show on youtube youtube dot com slash two bus r t thanks for watching.
1:57 am
bitcoin saul's for trust it's a mathematical formula that solves for trust think about all the institutions in your life that require trust you trust people on the road are going to be crashing into you you trust of the doctor is professional you trust the hospital is working in a trust third parties all day long bitcoin is the first trust international currency that doesn't require trust it just requires consensus to buy into every ten minutes the protocol and why would you not be buying into the protocol if you're getting fabulously wealthy or watching central banks collapse i like about it i mean wealth comes and goes but watching central banks crawl into their pea themselves and try that's what i like. welcome to the wonderful world of
1:58 am
blood donation i come here every three weeks to get my transfusion to be specific i receive in. my body gets and support is 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 or burned or put money on your car immediately you don't have all plasma based drugs today come from private companies and are produced from paid plasma as well as come from your own murder of computers what are the risks of pay donation. there is proof that the frequency of pathology is much higher paid. if i was lying. over two. he will go in the money using this approach and who runs the blood business.
1:59 am
down at once. on a flimsy don't want the big finish. taking the equal say the south yes. and then you're going to bring. me think i'm. going to let the. saudis out. just dealing with one means or less just a. matter that. none tokyo find it is going to keep going.
2:00 am
like. this look was because. i. as texas residents flee those devastating floods there's a shocking response from stump trump opponents less than sympathetic it seems towards the plight of a mostly republican state. to belgium to bounce compensation from israel to sixty you funded schools are being bulldozed in the west bank. and as u.s. sanctions against venezuela take hold seems goldman sachs's don't just put restrictions off to plowing billions into the country's state's oil company.

24 Views

info Stream Only

Uploaded by TV Archive on