an exertion of one of vox storm colors garnished gave the whale to be definitive the mention the labels you didn't talk with backstory. part of i just fax them star gets built out sucks them in spine and seemingly the audience votes us maximun know what is being there which is the politics of exhausted but it went up and and be clifford. the d.m.z. politique we can come. on better be fickle. it's a long as mention of the planet and keep to. the bucks to a huge how does fit in. after. where does this unshakable belief in economic growth come from. has it always been

there. is a drill e part of human nature. it was raw data was under imaginative use of mass production methods but there was a lot there was able to perform much more time marable to build more planes but all the united nations but together to turn our ships at the rate of two hundred a month yep which carried over the years beyond might of the united states to decide the outcome of a war. the success story of economic growth began during world war two mass production of tanks and aircraft let the american economy out of crisis the output of military equipment was now calculated by a new statistical measure gross domestic product or g.d.p. if production i.e. g.d.p. grew and so did prosperity americans believed so firmly in this new formula that they compel their allies to bring they can elect policies in line with it from then

on it wasn't people's incomes that counted it was only growth and it turned out to be such a useful measure actually for the war effort and for understanding the war effort the oft awards became the single most important policy number. across the world it kind of symbolizes progress to us soldiers says wow things are getting bigger so they must be getting better that was to us of the g.d.p. . in the three decades after the war the western economies grew up to eight percent and in the u.s. they called it the golden age of capitalism in france they were the thirty glorious years in germany it was the economic miracle an entire generation enjoyed material prosperity and full employment and this became engraved in the collective consciousness even though these high growth rates were only made possible by massive water destruction the believe in growth was now unstoppable. g.d.p.

became the most important benchmark in history. that an economy in the grace of the economy was doing a good job force when when we were young if you like when as an economy as a society we were young and one of the really important things to say is that there are some societies where that is still necessary where you still need that growth where you still need food clothing and shelter whether very very poor undernourished people living on less than the price of a skinny latte from the cafe downstairs and that's why that's a situation where growth makes some sense. but the idea that human beings all we want is more more stuff doesn't really stack up so after a certain point you have to ask yourself well how much is enough how much how much more do i need to grow the economy to satisfy human appetites.

the nineteen seventies so our growth rate sink for the first time due to the oil crisis and other factors the boom was over the market set your rate its western economy stagnated millions suddenly found themselves unemployed it was uncharted territory. for the first time the limits of course became visible economically socially and economically. we do have some understanding about groet. in one thousand nine hundred eighty two a group of scholars commissioned by the club of rome presented a report in washington and titled the limits to growth using a computer simulation such as that mit had calculated for the first time what continues economic growth would do to the planet they're finding set off alarm bells around the world when resource consumption is doubling every twenty years for

the first time people were confronted with the fact they can only grow it could also have negative consequences and that the planet's natural limits would soon be reached the success story of growth was in crisis we've reached levels of prosperity which carry the seeds of disruption and necessitate a complete relook at the whole world social political novel situation. the club of rome report sold thirty million copies and became a global sensation. and yet soon this cause themselves came under attack their calculations ready tried as irresponsible fear mongering because it's impossible to admit the end except. the success story of growth must continue. unfortunately many of us called us predictions turned out to be right and in many cases reality even surpassed the bleak predictions.

as the cover for own reports was causing an international uproar the brazilian rain first in the amazon basin was doing nearly untouched the huge brazilian state of much of grosso largely populated by indigenous people consisted of forest and seventy today not much of that is left since the mid eighty's progress aided by international investors has been eating away at the rain forest thirty five football fields of forest disappear every minute it's been the same story over and over again lumberjacks moving first. thank cattle breed s. and finally the sort of thing parents. a lot and they love. this quote of one point containing as it is you need your nail your. aesthetician know what audi zome. the pets comment and i

bear it below school fare but as the leader of being their god but on knowing that a god is following a singing i.e. a tone for there is this as i'd as i have got the ear wars the dance of the fuzzy and the keep thing there. were stamped there has there. been as good as society has boogy of us both them slide plimpton the meal you meant them to mean that you. must or noms a loss when you see a pick your cup down must own all who are going to wash. mark with. the gap is there by god alone could possibly. go the sestak lucia's ain been a feast with the seed money. losing money. the tropical climate and then the three to four hard to spray year and with that massive profits saw and corn for export an enema feet.

i mean one sixty three is the gateway to the amazon basin it brought lumberjacks money and destruction into the forest. today countless trucks lined the agribusiness highway transporting their valuable cargo to the international ports. they pass and enter the sea of soybean fields enormous silos and slaughter houses through one of the largest boom regions in the world growth rates of up to twenty percent business. and the savage beasts is region it was just lived by indians it's just amazing forest. thirty forty years just off colonization and it's the most important region nagra business off the country. it's right place to make new investments to make money.

you carol a good part exported to russia china and in other countries. do you see any limits know the limits of the disk i have and the limits. in response to the crisis of the seventy's economic policy underwent a change of course new growth had to be followed no matter what the cost even if that meant only seeing the prime and falseness of china's capitalist. these had been contained after world war two because there were hundreds possibility of the

great depression and the war itself. monetarism was a new magic word. among them was the idea that if you put more money into the economy liquidity it was cool that additional money in the economy would help really best that would help give a small production that would allow us to consumable goods and we would get growth back again so this little hiatus if you like in the seventy's primarily caused by the oil crisis led to a transformation in the economics of society and in particular how we think about right now we think about stimulating growth i. governments deregulated financial markets banks insurance companies and investment funds gains in influence and we're now allowed to gamble with currencies stocks even with people's retirement funds capital was that lose and the financial sector was

flooded with my. divorce a pact with the devil and the beginning of a slow process of self disempowerment in exchange for growth governments relinquish the power to financial markets but who do we mean by financial markets and capital and what does it all have to do with us. the allianz group is europe's biggest insurance co and one of the biggest players in the global financial markets. it's been fun felt six hundred million oil different from four hundred million leaving so see shown at one hundred million for the softness you know in the lead so see shown leading via the foresaw good ones o'quinn one fist to she went on my country to so for stay in. the us

some are spirit of figure one inch on base you think you want and box like to is it will fit and see a party for mukesh cotton and the same box to pot it's a peon so buy spirit box in investments invest it to one in it will be in an infrastructure to investments in autobahn and would literally zero in all molly to take. the some o. s. more of the positive closed in in china therefore also on a show all of some kind of one of the growth. in the developed markets in europe and us. they also know new light wants to be seen which we could never knock to a finance if a few puts in but it does if you puts end to high fashion mission via in so going to invest in visteon as acts in the movie when it's at the law. as

a given in the token fini gun opining given that mia in didn't train and then he can and then who will his facts to mean decent and none mukesh who will have to knock and and evade it and the tough to his system to mystique no trick is to stop it going to push it all into over that bittorrent that i knew was an invoice spent nine as ish much to me i'd have a torn effects from the forced. thank you sandy six you got sick and going to kill ya you will miss he thought he could touch up the subjects to a cold case for cough buys of think hard to six months i thought to. cost beyond. the one of millions of insured individuals it sent on its way to multiply when andre has group team has a rough idea to which countries and sectors the billions that flow they hire an asset manager he determines what stocks or bonds to invest and. most of

our clients are institutions what they want is they want their their money invested in the capital markets. our customers expect their capital to be returned they want their money back and they want a return on that game and the mobile growth there is high other agenda. well why i'm commander just one point two trillion euros obviously it's and in germany we're managing four hundred ninety billion euros of a sense of. the financial markets they have a social role in distributing people's savings towards investment and that investment is usually a form of there so when you get you take out a loan for example to buy a house that line could end up in a bond and we could end up buying that phone so growth is important so that

individuals and companies who borrow money in the capital markets can actually pay those lines back. off of this free trade and when he said friend you just. imagine a world with zero growth that's a world in in which pretty much everything gets frozen if you haven't got a job in this new world with no growth bad luck. you're going to have to wait for somebody to retire before maybe you get their job . and society without growth probably won't work at all not for long it will degenerate and to collapse. without growth societies will descend into chaos according to the financial and political elite. but is that really the case isn't it rather the blind faith in

growth that leads us to chaos. in the eighty's the world of finance operating from the city of london and wall street increased its influence and governments and societies and became the driving force of capitalism today financial markets not governments determine their wellbeing of enteric countries. how did it come to this how could financial markets gain such influence over our lives. one person who knows the financial world better than almost anyone this year at college for nearly thirty years he was a successful fund manager on wall street and in the city of london. no never once beautiful mind you i was a scientist and i've been offered twenty thousand pounds to go and stone wall street in one thousand eight. and i was one of the last out something in your room . and we went into the new era of reagan thatcher and

liberal trade the so-called big bang in the city was all about financial deregulation let's go let the market decide and let's hire people and let's see what happens yes i suppose this really kind of control downs which we've had before and it was that we walked into where money now talks now money wins and you need people small people to trade the markets and make finance the powerhouse behind capitalism which is supposed to be. the plan seemed to work the stock markets built roads no longer needed to be financed by. creasing wages and tax revenue now it was all about credits governments and individuals were to take up loans from banks and investors so that they could be good consumers and thus generate brooks's. credit

cards come along overdraft so to use lending for houses becomes widely available and it's at that point that explodes but now it's not just the very wealthy have access to all these things consumerism is now people lower down the income scales as well and if you look at money supply in that and supply credits in the early eighty's it just explodes. going at the end that's been access to consumerism and promotion of current consumerism close debt which is created the growth we created the way we are today. the cold logic of the market to go over producing winners and losers. one of the people who knew best how to profit from this new logic was donald trump

. i really think i have an instinct but i don't think it's the instinct was shock i think it's the instinct of of maybe getting what i want or knowing how to get what i want. only if you recognize the profit opportunities in this new era as well as. he made large scale purchases of derelict new york apartment blocks and promised to transform them into next three hotels and apartments to see financing from banks high on the market boom and through the largest tax break in new york city history trump himself had practically nothing will happen is an incredible place where you build a huge building in a sold out in a matter of days i mean you know you build a building with literally three or four hundred units on building a building is one of the hottest buildings anyone's ever seen is just selling like a clear cut case of manhattan itself is becoming a place of the rich period. the

genie was out of the bottle the brave new world of finance or capitalism could no longer be constrained and great efforts were made to set it as a controllable and secure system. the whole industry is based around kind of the mission and the illusion of certainty there is a vested interest if you like inside of the system is to project knowledge and extra knowledge. but they really don't have any more knowledge than. in september twenty seventh team the people of the kurdish region of northern iraq

voted in favor of independence from baghdad. but joy was short lived as the iraqi government reacted forcefully against any idea of separation. al-jazeera world travels to the kurdish regional capital of overbuild to investigate independence and the iraqi kurds on al-jazeera the latest news as it breaks the difference is that in the last bottles ossified the statistic in the ritz with the this time go for the truth does not come up with detailed coverage while has already said that he's ready to take over as interim president and call for you elections. from around the world volunteers are doing what they can that's not the point behind the government's decision to criminalize homelessness it hundred. russian filmmaker andrina christophe explores how putin's russia impacts the very values of the nation russians are famous for their cultural legacy but contradiction and

conservative be the source of stagnation and authoritarian rule why was i was the assume raided by the police to misuse ukraine six homosexuality the significance of it put into the russian elite is that she was like a feature who controls the cobra in search of putin's russia on al-jazeera. your child has their arms around and these are all top news stories the u.s. president's close ally roger stone has been arrested as part of special counsel robert miller's investigation into possible russian collusion in the twenty sixteen election stone was arrested in florida following a grand jury indictment he's been charged with obstructing official proceedings making false statements and witness tampering united nations special rapporteur on

me and my young young healy is calling on bangladesh to allow the un to make an assessment before the refugees are moved to a remote island this week visited a bus and charlotte lying island in the bay of bengal in the five hundred kilometers from cox's bazar about one hundred thousand are written there are expected to move there and live in newly built barracks human rights groups have criticized the plan saying living there will be living in a prison. in gaza and the health say that now. even be contemplated until the caption. for any refugees relocate is agreed upon the government can come and anywhere to live on budget will eventually have basic access to the same basic rate as those who live in the us is that and venezuela's military has reiterated its support for president nicolas maduro saying the terms

to remove him amount to a coup un human rights chief michel bashir layers warning the situation may rapidly spiral out of control with catastrophic consequences the afghan taliban has named one of its co-founders as the leader of its political office in qatar. is expected to join the go she is with the u.s. which appear to be gaining momentum. the republican and democratic parties tried to. but neither. government departments and. wall.

to. give you growth something positive. it's great watching our kids grow up or seeing a tree grow. it we always aware that all growth must come to an end. there's a limit nature knows no such thing as infinite growth is ruth seems to apply to every kind of growth but one economic growth is somehow supposed to continue indefinitely. as one person recognized the hundred fifty years ago growth is the fundamental principle of our economic system capitalism only works when the economy grows but calm ox recognize something else as well it is this growth that will

eventually destroy the system itself. and today every weeks that point is the system about to collapse from an infinite growth actually be possible. the bloomberg company from new york place a central role in the financial system since the nine hundred eighty s. rumor has provided stock traders and bankers with lightning fast price fluctuations and finance data from around the globe making it one of the world's most influential media companies. around the clock bloomberg news agency in stock market channel broadcast the glad tidings of the free market. our role in financial markets is as a provider of transparency via huge amount of data about the numbers on markets on economies of companies providing a chronicle of capitalism telling the story of money vitally important to bloomberg and central to what member does. is one of most important numbers we look for

if i is a score on the on the stage for the economy steady solid growth in financial markets do usually reflected in solid growth. in economics in demand in jobs markets reason is that people feel wealthier if you look at the textbooks there should be no limits to growth but if you look in the newspapers at the moment you get the feeling there is a. great growth in the central question now is whether we're in a cyclical or there's something structural is going on biggest. by release of systems based upon people's remains have confidence in the information they're giving and the promotion. of the ideology in the narrative which finance is based around which is increasingly become this kind of game show

croce things. for a period time everybody wins. and then there's you know a number of economists marx keynes and pointed out is eventually all these mains go out and the question. to those heavy lobbying by the financial sector on the government to ensure actually that this financial sector growth could continue and governments believe that it was in the interest of the economy because everyone told the monitors and told them that if you had all this liquidity in the system then you must be growing your real economy but actually what was happening within that system rather was that you freed up all this money which was then used to bet on the increases in the value of certain companies and certain shares and of money itself in the system and the people who were doing that betting were not only profiting from it but they were also the only people who were regulating the system so it created a huge unstable and incredibly. equal system in which the rich

got very much richer really very fast. for decades society has been transformed into an enormous market to which there's allegedly no alternative. the huge sums few in the financial markets scream for high returns and have penetrated every corner of the globe. new ways are constantly thought to expand profits already in the tree is. the road seems to be getting to small for the capital. when i was a kid i couldn't afford to fly in an airplane i actually joined the air transport

industry before i ever flew in here. today people take flying for granted it shaped the way we buy goods it shaped places people go to shape the meetings between people and different cultures. over the next twenty years we expect the world to meet thirty two thousand new civil aircraft. at the moment around one billion of the people who live on our planet fly by air regularly. the remaining six billion don't yet fly by air and it's these people who will be tomorrow's passengers and tomorrow's customers in addition for those of us in developed countries who take flying for granted.

have to live over the last six years more than one hundred brand new airplanes so it's airlines charge. on airplanes every string days the changes. take shelter. and all there's a retailer bad or something to turn the bible belt. up sometimes you are well that's what i thought was how much of what you get the money that you are currently we have slightly montreux hundred alcohols in china tech and every year in the range of ten or fifteen and you want to be zero imagine if everybody. now for the travel expenses even the president was low cost the business walter

a worker is willing to travel by air the marketing is fantastic you can't imagine and i i already seems that this is a sign of that that's why when i look at it every time a i'm asking about the perspective of the market i cannot imagine as a dime ation of this market where ny hands of reference of one point four billion which is even more important than the whole of europe and more atrophy means more pollution what do you do about that we made every single effort to try to reduce his emissions but if we look at it as a social benefits and has economic benefits as aviation industry or bring to the humanity and then people may think differently we. are trying to make as well as smaller and smaller.

to make it to a real village. for decades growth was kept on life support with debt only if you had the courage to say that the party couldn't go on forever but no one listened to them. in september two thousand and eight the time had come the house of cards collapsed it's a black monday for the american capital market despite dramatic rescue efforts over the weekend all efforts to keep the world's fourth largest investment bank alive

have failed lehman brothers is shutting its doors for good it's also i think a necessary part of the cleanup process laming we knew was weak we expected to go it's not going in the way that people expected it to but it's gong. to. the long run i'm confident that our capital markets are flexible and resilient can deal with these adjustments for a long time it sucked.