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tv   Growing Pains  Al Jazeera  January 28, 2019 11:00pm-12:01am +03

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al-jazeera. al-jazeera where every. hello i'm maryam namazie in london just a quick look at the top stories for you now egypt's human rights record has once again come under scrutiny during a visit to the country by the president of france emanuel macron told his egyptian counterpart abdel fatah sisi that egypt's human rights record is even worse now than under deposed president hosni mubarak but reports from paris. so far emanuel mark crawl's first trip to egypt is proving to be a delicate balancing act the french president wants to boost cooperation and trade
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with cairo while delivering a strong message on human rights as of what president sisi came to paris in october twenty seventeen we had a long discussion about that and i think things have not gone in the right direction since that since that time there have been bloggers journalists and activists who've been imprisoned that is a reality and though i have respect for egypt i cannot ignore this president abdel fattah el-sisi suggested that egypt needed new lessons in human rights. it will not advance by bloggers egypt will thrive and work on effort on its children's perseverance economic social political and religious reform. for macro it was a change of tone from the twenty seventeen meeting with c.c. at the time he'd said it wasn't france's place to lecture egypt over civil liberties some campaign is and friends have been urging that cross to take a tougher stand on human rights and end arms sales to cairo these activists in
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paris say that they have proof that french weapons such as armored vehicles and surveillance systems have been used by dorothy's to crush dissent. because it read russian that is made in france because some weapons and technology installed by french companies as a larger oppression of the syrian book edition imagine. france is one of egypt's main arms supplies but no major weapons contracts was signed on this visit or those forty deals were made in other areas such as transportation. this by to manual mark cross criticism of cairo's human rights record there is no doubt that the fridge presidency's egypt as a key ally in the region but some analysts say that the diplomatic importance that fridge presidents have traditionally given its acquiring could be misplaced. france is always best on an alliance with egypt to solve regional issues but its misguided efforts between france and egypt to find a solution for libya have been a total failure and on other issues egypt has lost much of its power and
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credibility. macross always said that he's a president who believes in talking frankly on this occasion it's an approach that may have police campaigners but it's less clear what impact it will have on future relations between paris and cairo natasha butler al jazeera paris in our other top stories the turkish government says it expects the four million syrian refugees currently living in turkey to return home after a safe zones have been set up president says he and his u.s. counterpart donald trump of discussed setting up a thirty kilometer wide safe zone in syria running along the border it's also intended to protect turkey from kurdish armed groups pope francis is saying he fears there could be a bloodbath in venezuela as pressure grows on nicolas maduro but there are started a second presidential term earlier this month and is rejected rejecting calls from e.u. nations for new elections majorities critics are hoping the country's armed forces
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will turn against him opposition leader who has proclaimed himself the interim president but madeira saying that quite zero is part of a u.s. led. funerals have been taking place for the victims of friday's dam burst in southeastern brazil nearly three hundred people are still missing after the disastrous in iron ore mine most of them are presumed dead trapped in the town of broome a dino that was swallowed up by mud unleashed after the dam collapsed. well it's been three months in saudi jenna's jamal khashoggi walked into his consulate in istanbul never to be seen again and now the u.n. human rights investigator looking into his murder is meeting with turkey's foreign minister agnes callum of will have weeklong talks in turkey she says it's a crucial step towards formal accountability for the killing of jamal khashoggi you're up to date with one of our top stories of the morning is a bit later on i'll see you in twenty five minutes time time now for growing pains
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. you're. the view growth as 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 this rule seems to apply to every kind of growth but one economic growth is somehow supposed to continue indefinitely. we believe them and now there are no limits to growth and human progress when men and women are free to follow their dreams and we were right
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. if that growth fails to materialize we panic but why. does one person recognize the hundred fifty years ago growth is the fundamental principle of our economic system capitalism only works when the economy grows but karl marx recognize something else as well it is this growth that will eventually destroy the system itself. and today every reach that point is the system about to collapse or might infinite growth actually be possible. the governments don't want us to even question the g. word they don't even want to put a discussion around growth if you're looking at this from the outside it an alien arriving from outer space and you're looking at the society. you would really wonder what was going all what are they doing what what is this gross that has to appear in every political sentence on is the basis of every economics textbook what
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is it all about is it or is it a religion that they have is the god that they're chasing is the virus that's taken over them. what is this visceral fia that emerges assume his grace starts to go away. and he says often one of storm kindness garnished gave a while to be defined as a dimension the of it was not a levels you didn't talk back storm instead us.
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all to god the tough knocks them style gets built out sucks them into finding and semen is the audience that's outfox them and what is being love is just the politics just senior level of excellence to bow to them and up and and because if not. the d.m.z. politique we can come on that said the veil on a bit of a fickle. is a long as mention of these burn it and keep to do with mizuho the box to long in a huge how does fit any one up in the above you just read off. where does this unshakable belief in economic growth come from. has it always been there . it is a dream part of human nature. it
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was through all dangers under imaginative use of mass production methods let us unless there was able to perform much war time miracle to build more planes that all the united nations put together to turn our ships at the rate of two hundred a month ships 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 of 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
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be such a useful measure actually for the war effort and for understanding the war effort that off towards 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 the 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 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.
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and the 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 as 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 great economy to satisfy human appetites. the nineteen seventies so our growth rate sink for the first time due to the op
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crisis and other factors the boom was over the market century to 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 ecologically. we do have some understanding about growth. in one thousand nine hundred eighty two a group of scholars commissioned by the club of rome presented a report in washington and titled 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's 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 that they can only grow it could also have negative consequences and that the planet's natural limits would
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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 and other situation. the top of rome report sold thirty million copies and became a global sensation. and yet soon this calls themselves came under attack they 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 call us predictions turned out to be right and in many cases reality even so possibly predictions. as the cover for own reports was causing an international uproar the brazilian rain
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first in the amazon basin we're still in the only untouched the huge brazilian state of much of grosso largely populated by indigenous people consists of a forest and seventy today but 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 us and finally the soybean parents. a lot of it lost. in this one of one point containers is near you on the nail your. aesthetician know what automation all given we shall not approach government and i bear below school fairness but as the leader of being their god but on knowing that god is following what cie they all there is the south side as i after the
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ia wars the dance of the fuzzy and the keep thing they've each quattrocchi it simpler stamp their heads they are. in that good as a side as bill de gea of us both them slide clinton the meal you meant them to mean that you. must or numb was a loss when you see a pic your cup down must own all dog and it was. a mark of. the gap is there by god only could possibly broke without borders as the glue she. has been a fierce with the settlement. losing money. the tropical climate and industry to four harvests pay year and with that massive profits soy and corn for export an animal feed. i mean one sixty three is the gateway to the amazon basin at the end lumberjacks
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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 the right place to make new investments to make money.
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you carol a good part exported to russia china and in other countries. do you see any limits no 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 of the great depression and the war itself. monetarism
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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 games and 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.
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divorce a pact with the devil and the beginning of the 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 company 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 say showing 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 your pick your own inbox in
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uk to end wolf in c. a party for mukesh and the some bucks to pot it's a peon so buy spirit box in investments invest its own in it will be in an infrastructure to investments in autobahn and when the tulio to take. the some o. us modern 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 your puts end to a high mission via in so going to invest the high sheen visteon i sucked in him obedient it's at the law. as a given in the token fini gun openly given me a in didn't try and then he can and then who will his facts to mean decent and none
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mukesh who will have to knock and and evade it and the tufted his system to mystique new trick is to stamp it door to push it all into over that i never was an invoice spent nine as ish miche to me i'd have a torn effects from the forst. thank you sandy six a gothic anointed aiyana wilma's he felt he could touch up the subjects to a cold case for cough buys thank god to see one i thought he shot his sister could cost pun. another of millions of insured individuals a cent on its way to multiply when andre has group as a 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
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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 another agenda. well why i'm commander just one point two trillion euros obvious it 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
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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 . a society without growth probably won't work at all not for long it will be cherry 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
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world of finance operating from the city of london and wall street increased its influence on 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 long. known of times people much when i was a scientist and i've been offered twenty times in pounds to go and stone wall street in one thousand eight. and that was one of the worst i was the beginning of . i went into the new era of reagan thatcher and liberal trade the so-called big bang in the city was all about financial
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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 build roads no longer needed to be financed by increasing wages and tax revenue now it was all about credit governments and individuals take out loans from banks and investors. so that they could be good consumers and thus generate. credit card. overdraft so to use lending for houses becomes widely available and it's at
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that point that explodes that 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. has been access to consumerism and promotion of current consumerism close debt which is created the growth we created and where 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 it was
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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 of that unit he's 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 to move heaven 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 i'm building a building is one of the hottest buildings anyone's ever seen is just selling like hotcakes when hatton itself is becoming a place of the rich period. the
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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 a kind of illusion 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. the plundering of armenia's natural riches has uprooted residents and desecrated the habitat of some of europe's most endangered species. but a remarkable campaign by local residents is challenging the miked of the country's
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investors and pinning high hopes on its newly elected prime minister people in power investigates armenia mining out the left. on a zero. most memorable moments with al jazeera was when i was on air as hosni mubarak fell with it the crowds in tahrir square toolkit. if something happens anywhere in the world al jazeera is in place we're able to cover muse like no other news organizations. were able to do it properly. and that is our strength. the world's largest oil company fails to become public water tap and. other kingdom in the company inseparable here the world's largest oil producer and you
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don't left in a world like a stock exchange that definitely felt something al-jazeera investigates the politics of oil the middle east's most potent economic weapon. saudi arab coke the company and the state on al-jazeera. i know i'm maryam namazie and london just a quick look at the top stories egypt's human rights record is again face scrutiny during a visit from the president of france emanuel macron told his egyptian counterpart sisi that the country's human rights record is even worse now than on the deposed president hosni mubarak. to me distance of them would do more for the presidency if he came to paris in october twenty seventeen we had a long discussion about that and i think things have not gone to the right direction since then since that time there have been bloggers journalists and
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activists who've been imprisoned that is a reality and though i have respect for egypt i cannot ignore this in this context i think it absolutely essential that we have a dialogue about human rights that is coherent with our own objectives and for the turkish government says it expects the four million syrian refugees living in turkey to return home after a safe sense of been set up president said he had discussed this with his u.s. counterpart donald trump on the idea of setting up a thirty kilometer white safe zone in syria which would run along the border pope francis has said he fears there could be a bloodbath in venezuela as pressure grows on president because nicolas maduro duras critics are hoping the country's armed forces will turn against him despite pledging their support at the weekend opposition leader why dope proclaimed himself interim president last week this is the first day back to work for hundreds of thousands of federal employees in the united states affected by the partial
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government shutdown which was suspended on friday but they might only be working for three more weeks unless donald trump gets funding for his proposed border war with mexico. funerals have started for victims of friday's dam bust in southeastern brazil nearly three hundred people are still missing after the disaster it's an iron ore mine most of them are presumed dead trapped under the mob that swamped the town of burma do you know the president of the philippines will go to terra has been visiting the site of sunday's double bombing that killed twenty seven people and injured many more is about to hunt down those responsible are still has claimed responsibility for the attacks which targeted worship at a catholic cathedral in the southern mindanao province you're up to date with all of our top stories going to bring you more on everything we're covering in the news hour do join me then it will be in about twenty five minutes time now it's the second part of growing pains.
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the view growth as 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 this 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 call mox recognize something else as well it is this growth that will eventually destroy the system itself. and today have three weeks that point is the
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system about to collapse. at 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. though merck 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 i would provide a huge amount of data you should not have numbers on markets on economies all companies provide a net chronicle of capitalism tell a story of money vitally important to bloomberg and central to what we're about dollars. and not cross dangerous or is one of most important numbers we look for if
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i say for. score on the on the state of the colony steady solid growth in financial markets do you 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 is a can a break on both the central question now is whether we're in a cyclical slump or there's something structural is going on biggest. by release of systems based upon people remaining to have confidence in the information they're giving out and the promotion. of the ideology and 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
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a number of economists marx keynes and pointed out is eventually all these means go on 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
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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 sought 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 and before i ever flew in america. today people take flying for granted it
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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 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. over the last six yes more than one hundred brand new airplanes towards china.
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on airplanes every string they sing the changes. take them. as our years a tale after something to turn the battle. we all got some value out of that the world. won't record us how much of what you get the audience are not even in but currently we have slightly more than two hundred amp balls in china in toto and every year in the range of ten or fifteen a new employers want to be viewed imagine if everybody a cannot fault their travel expenses even a peasant was low cost the business water a worker is willing to travel by the market is fantastic you can't imagine
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and i i already seems that there's a sign of that that's why when i look at it every time i'm asking about the perspective of the market i cannot to measure is a dime ation of this market when i have to reference 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 as emissions but if we look at it as a social benefits and has economic benefits as a nation in this true bring to the humanity and then people may think differently. we. are trying to make as well as smaller and smaller.
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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 to 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 lehmann brothers is shutting its doors for good it's also i think a necessary part of the clean up process i mean we knew it was weak we expected to
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go it's not going in the way that people expected it to but it's gone. a long run i'm confident that our capital markets are flexible and resilient can deal with these adjustments for a long time so. there was a deep shock in the system it was a sense of my goodness we can't let this happen again governments have to have a better handle on this system and for a while there were attempts to do that it lost it probably a matter of a few months in fact by the end of two thousand and nine and into two thousand and ten. the very same companies been responsible for some of that disaster was still engaging in those same kinds of risky trading procedures that for a while had been stopped in the wake of the crisis we learned
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a lesson. but then we forgot it again. the financial crisis was a huge opportunity for governments to free the world from its dependency on financial markets and to change the system that they wasted it instead they did all they could to revive the old system spending trillions of dollars to save the banks . then something incredible happens the banking crisis miraculously became a sovereign debt crisis drive a dead became public that governments and the citizens are subjected to a stir to policies. and there which millions of people suffer to this day. thanks the stock market is however to demonstrate a sense of normalcy as soon as possible in reality nothing is as it seems kept the business survive the crisis that no longer functions like it once did.
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even though it's not as busy as it used to be this is still the center of capitalism you can look at all the tourists who are outside the building taking pictures they all still believe this is the center of capitalism it's a symbol of something it means something to that. ten percent i'm sort of like the weatherman for the stock market i come in every day and trying to figure out what's going on in the stock market i talk to trading desks i talk to analysts i talk to people who know a lot about the stock market and i go on the air and on the internet and explain what's going on. remember the s. and p. five hundred up is down one and a half percent this month you have very clear market leaders and the reason we've had it is because of better prospects for earnings in the fourth quarter remember what the market leaders have been energy tech in banks lagging today energy tanks in banks that's interesting their next. prince and you know if i may just
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change rather. human beings want stories they don't want an endless list of numbers nobody is impressed with a list of numbers they want to know what's going on tell us in plain english what the markets for doing and that's the real skill set and often that's not easy because things are very complicated. people have always claimed that capitalism can be evil and capitalism doesn't help people i completely disagree what i see in the last hundred fifty. yours is millions of people have been lifted out of poverty i personally am a true believer and still believe that the system works well and i'm committed to that system.
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at the underfund and the new york about the fund that fastens thousand mention of the market. committed by dimensions in them to be detestable just fall into i've been shot through tells me it's in the wind as the hellish defense hard enough i was in this in one of the new york stock exchange this is a list the average i was in the first published it. is in this it's the machine just about wins. in jackson cause the decide to name in me a given of every old shaft the top not been given and is going to name. just come on the scene and. have been known to assume that the i love the shaft when belzer. outside but it was in one town while kind of talks to me getting tired to give in is in. the dock to mock police towels when competition. keyed up.
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i think what we've seen over the last few years is cracks in the in the shiny surface of capitalism. and the first that's what they look like you know they just look at something not quite right. the way the light reflects off it and as you look more and more closely. you see this you see that these cracks gay rights of the heart of the model they go right to the heart of the basic ideas of capitalism. capitalism is to work. the system deliver what it promises. providing growth jobs and prosperity for all.
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jambo inside your new smart factory in the uk see this is just. fine let's put it. in the middle unlockable the young can see so often you're. not tunisia's as long as it's you just like you're in study of a couple if you keep your hobby like a little soft. on a lot of. unix boxes been diminished. and all but that's a nice gentle bend us on the on the bad self you can find don't understand. this is all by not talk as it's box that was on the top is that they're not good as that's come most mishmosh least. ever since the industrial revolution machines have been replacing your labor thereby causing great societal upheaval it's. that until recently they have only replaced the physical labor of humans. now machines are capable of doing what makes us humans
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unique they are able to think it's a completely new chapter in human history which will have massive consequences on how we live and work. can technology thanks watson can. i mean want to is a technology unlike any that's come before because rather than force humans something like a computer watson interacts achievements on. human terms. sepsis twenty students is among them because of cognitive often stunt this jesus team went off to compliment. and dom it's been a star kids. get i mean so i sent his team in how to buy something langston imports in full view in the high end the to discus something contexts into t.v. in his name to sustain him begin to laumann untimed was a time to deceive us also did not have hospital was just him all talk and on to it . if you're interested in checking it that you're
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a spectator stand evolution's it make special notion take great great gesture. as well as carry the rights of a mystery mission get yes you can be able to do it the right people don't get this ticket let me show michael himself role thanks to interact with thinking and showing. thank. you visit me stop by and zoom in on a farm set up some shuffle in game time yeah i can finish the day and never get off the myans i nuclei t.v. ted sometimes that's bidding on and us holds true in extremis if in extremis p.v. lake. in the future agribusiness and robots will be able to carry out nearly every would seem to ask previously. of jobs who. these new technologies like economic growth but like much of the world.
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and that could endanger capitalism itself. who will be able to access all the nice things mass produced every day and there are not enough people who can pay for them with their wages. in financial markets algorithms have long since been running the show computers interact with other computers and fractions of seconds without any human input. in this room that's what we do here we have an on off switch right was there's really no human in our bench and i really don't believe in leaving the room
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and letting you know something trade on attempted it's about being there with the creation you know you've worked on. you know even if i don't i don't know you don't control it but you watch it is it doing everything they designed it to do there are many mathematical models that come out of fields such as horse betting that are used and are business as kind of fundamental pieces of algorithmic trading we somehow project and then our couple this society this idea. that that this is a safe environment for people to build up their rear tire meant time is actually a hyper competitive environment and. depending on the product there's there's you know sometimes i feel safer going into a casino than trading certain products in our space i mean. it is
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a very different world than the way it's advertised to the general public. financial markets out of control and no longer have any connections to reality. while algorithms and robots produce growth they only provide work and prosperity for a few and it's this growth that's destroying our future on the planet. the signs that something has gone wrong with the a system that's become impossible to overlook so why do we consistently ignore them . this is for t.v. the network was always stuck together for your i'm done time trusting a lot better now than i was before i had to tell it you know because if they even hire us style you know to me. you guys look like so you obviously don't know what
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i'm talking about but you know this is a really nice quote. i call it one of the most powerful name in financial television wall street week his back yes the news guy bridge actually purchased the rights to wall street leases i view myself as a capital artist again this company that i've created is my campus. i know you guys in the media don't like capitalism but you know someone's had to pay for the camera and the microphone so i mean at the end of the day the capital system is the only system that we've been able to design that works. let's talk about growth ok there is a perception right now in these elitist academic salons ok now we're not going to grow anymore well that's just flat out wrong if you study five thousand five hundred years of human history we know that human beings are designed to have great intellectual curiosity and to innovate there are so many things that we're going to do over the next fifty years is going to shock everybody in terms or keep ability we're going to poll asteroids down from the asteroid belt or
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a load of platinum that would be where the first trillionaire comes from we're going to unlock the ability to stop aging or destroy cancerous cells in our bodies all of this innovation is ahead of us and there's a tremendous opportunity for growth. this a sense of desperation so this strategy that we don't want to base a realistic in the world we would much rather have. you know a total fantasy for our guiding star we would like to have this vision that no we don't have to think about detailing christ we have to think about making grows even stronger we have to go for it we have to make america great again we have we can all be billionaires we can all we have property and of course it's a little asian i think it goes back to exactly that same simple basic fact we live
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on a file a planet that there isn't the space for the dream of this reinvigorated the regs to fetich this is. just. we live in extraordinary times our world is becoming increasingly complex. and many are disappointed to find that they are worse off than they used to be. but instead of doubting the economic system they turn to those who have profited from it the most those who continually promise new growth. for these empty promises more and more people are apparently willing to sacrifice democracy peace and then vironment. capitalism is reached a new level of escalation but it's no longer suited to the world we live in. it's and it's closer than we think.
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hello there heavy rain is causing us a few problems in parts of australia the northern parts of queensland have seen a lot of flooding and some landslides as well but that system responsible it's not as nudging a bit further south so for the northern parts then it's not quite as wet as it has been and instead the main focus of that rain is just edging southwards elsewhere and for a perfect starting to be rather warm and rather dry over the next few days thirty one degrees maximum temperatures and elsewhere the temperatures are on the rise so force in adelaide will get to around thirty six i'm open to around thirty seven so
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the heat is returning for us over towards new zealand is largely fine and dry for many of us here we do have a bit of cloud coming and going at times but it's still quite warm for clint will be getting to around twenty seven degrees and in christchurch will be at twenty seven by the time we get to wednesday the temperatures are rising here as we head further north we've got snow working its way towards japan more snow that is brought on and the winds from the northwest elsewhere it is generally looking quite quiet weather wise but all that warm force in maximum would just be minus twenty degrees it will be a lot milder force in beijing here are temperature is up at seven degrees that should be a fair amount of hazy sunshine coming through at times as well. and inspiration. series of short stories that highlight the
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human triumph against the. zero selects. the latest news as it breaks the difference is that in both bottles awesome flotus the authentic and the ritz with the this time gold with truth does not come up with detailed coverage has already said that he's ready to take over as interim president and call for you elections. from around the world kids are doing what they can and that's not the point behind the government's decision to criminalize homelessness it hundred. in recent years the sawhill of north africa has witnessed the so-called war on terror.
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but is this official narrative. masking a larger battle. a battle for the earth's natural resources. shadow war in the sahara cultures. this is zero. hello i'm maryanne demasi this is the news hour live from london coming up fears of a bloodbath in venezuela as pressure grows on president nicolas maduro to call fresh elections and the u.s. announces sanctions. france's president of on your background attacks egypt's human
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rights record as he meets his counterpart abdel fattah sisi in cairo. west african leaders discuss how to stop boko haram that violent.

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