tv Fareed Zakaria GPS CNN May 8, 2016 10:00am-11:01am PDT
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this is "gps," the global public square. welcome to all of you in the united states and around the world. i'm fareed zakaria. ♪ we'll start this show with the stunning news from the 2016 presidential campaign. ♪ >> donald trump is the presumptive gop nominee. >> we've assembled a great group of conservatives to discuss what this means for the republican party, for conservatism and for america. and just who is to blame for all the rancor in washington? is it politicians like donald
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trump? when research suggests that it might be all traced back to china. what in the world? also, the jon stewart of egypt. now living in exile in the united states tells us exactly what is going on in his very troubled nation. and while there's much worry about american politics, is europe actively falling apart? yes, according to greece's former finance minister. >> it would be awful, frightful and highly disruptive. but first, here's my take. at the heart of donald trump's appeal is his fame as a successful businessman. it's why most of his supporters don't really worry about his political views or his crude rhetoric and behavior. he's a great ceo and he'll get things done. no one believes this more than trump himself who argues that his skills in the commercial world amply prepare him for the
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presidency. now there's some debate about trump's actual record as a businessman. regardless, it's fair to say that he his formidable skills in marketing. he's been able to create a brand around his name like few others. the real problem is that these talents might prove largely irrelevant because commerce is actually quite different from government. the modern presidents who achieved the most, franklin roosevelt, lyndon johnson and ronald reagan had virtually no commercial background. some who did, herbert hoover, and george w. bush fareed much worse in the white house. one of the few successful ceos who also did well in washington is robert rubin, a former head of goldman sachs he served as the chief white house aide of economics, and then treasury secretary in bill clinton's administration. when he left washington he
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reflected in his memoirs that he had developed a deep respect for the differences between the public and private sectors. in business, the single overriding purpose is to make a profit, he wrote. government, on the other hand, deals with a vast amount of legitimate and often competing objectives. he also noted that a big difference between the two realms is that no political leader, not each the president has the kind of authority every corporate chief does. ceos can hire and fire based on performance, pay bonuses to incentivize their subordinates and promote capable people aggressively. by contrast, rubin pointed out that he had the authority to hire and fire fewer than 100 of the 160,000 people who worked under him at the treasury department. even the president has limited authority and mostly has to persuade rather than command. this is a feature, not a flaw of american democracy. power is checked, balanced and counterbalanced to ensure that
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no one branch is too powerful and that individual liberty can flourish. in interviews with "the new york times" trump imagined his first hundred days in office and talked about the positions he would fill. i want people in those jobs to care about winning. the united nations isn't doing anything to end the big conflicts in the world so you need an ambassador who would win by really shaking up the u.n. this displays an astonishing lack of understanding about the world. the united nations can't end conflicts, because it has no power. that rests with sovereign governments unless trump wants to cede u.s. authority to the u.n. secretary-general ban ki-moon. the notion that all it would take is a strong american ambassador to shake up the u.n. and end conflicts and win is utterly removed from reality, yet it is a perfect example of business thinking applied in an alien context. success in business is
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important, honorable and deeply admirable, but it requires a particular set of skills that are often very different from those that produce success in government. as walter lipman wrote in 1930 about herbert hoover who was probably the most admired business leader of his age, the popular notion that administering a government is like administering a private corporation. that it is just business, or housekeeping or engineering is a misunderstanding. the political art deals with matters peculiar to politics with a complex of material circumstances of historic deposit, of human passion for which the problems of business of engineering as such do not provide an analogy. for more go to cnn.com/fareed and read my "washington post" column this week. let's get started. ♪ the conservative columnist
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george will says that donald trump is the most unconservative nominee in the 162-year history of the republican party. what will his candidacy do to the party, to the country? i have assembled a group of conservatives to help me understand the issues. david fromme was a speechwriter for george w. bush and he is the a senior editor at "the atlantic" and chair of the policy exchange. emily miller was the senior editor of the opinion for "the washington times." before that she spent years working for republicans on capitol hill as well as for secretaries of state powers and rice. dan has served as senior foreign policy adviser to governor mitt romney in both white house runs and has advised paul ryan, as well. and ross is an op-ed columnist for "new york times." so, ross, you wrote a column which made me think of something which there were 17 candidates who ran for the republican nomination. i think its unquestionable that
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the least conservative of candidate of those 17 won. what does that say about what the republican party thinks of conservatism? >> well, first, it says there is a large constituency among republican voters for ideas that are outside the conservative mainstream and this is something i think was fairly apparent for a long time. it's just been surprising to many of us just how large that constituency was. and, two, that republican politicians are willing to put in the end, surprisingly little on the line to defend the ideas that their party is ostensibly committed to and that, i think, to me is in certain ways the biggest surprise. i thought that i had a low opinion of politicians in certain ways, but i did think that there was sort of a commitment to the interests of the party that would lead to more ferocious resistance to trump than we've seen. >> david, you've been saying for a long time that the big divide
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is the ideas of the donor class versus the ideas of the base. is this what it's really all about? >> that's the operational part, but it's clearly now working into something much bigger because the donor class is handing in its sword of surrender. there was an article by dan henninger pleading with donald trump to please consult can koch. he was handing in the sword to general lee. i think we're going need to cope with the wreck that is coming and the immensity of the wreck and it's not just a presidential wreck. it's going to be a wreck in the senate, and in a lot of other places and it's a moral and cultural wreck. to cope with this, the people who object to what is happening whether they're donors or weather they're base will need a series of strategic decisions about the key dates ahead on the calendar. there is a key date at the convention. what can be done at the convention to tell america that not all republicans are on board
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with what is happening? >> how do you do that, david? he's the nominee and he'll write the platform and the platform will say we're going to build a wall and we'll deport people and we'll ban muslims and end trade deals for a party that's pro-immigration and pro-trade. >> don't assume that that's correct. remember, trump has a terrible work ethic. ted cruz has a lot of delegates, over 600. many of the trump delegates are constrained to support him and they're more regular party people. at the time cruz here could play a very important role and you can write things into the platform, for example, to say if the presidential candidate has made any loans to his campaign that said he was self-funded, that should not be paid back with taxpayer funds. >> this would be a fight? >> you fight on the beaches. you fight in the towns. you fight in the streets. you keep going, and then during the fall, there are candidates to rescue who will deserve rescue and then afterward will come the digging out. >> you don't disagree with all of this? >> i'm just shaking my head
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because you just see all of these conservative elites in new york and d.c. they're losing their marbles over this. they can't believe this has happened. what has happened is, the people decided who would be the republican nominee. it's not washington and it's not new york. it's the people. they voted for donald trump. they want donald trump. they agree with his beliefs and they agree with his policies. they're saying jobs first. america first, they want to make america great again. that's what's going on. platform aside, donald trump has run on something that he says if he wins and beats hillary clinton this is what he's going to do when he's in office. as you said, he says he's going to build a wall with mexico and stop the illegal immigration. illegal immigration has gone up simp donald trump has done well, because people know there will possibly be a wall there in the future. there are things and people are saying, yes, stop the free trade agreements that are hurting us and hurting our jobs. >> what do you think? you were advising marco rubio, among others. >> yeah. >> advising paul ryan.
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for paul ryan this is a vision of conservatism pretty much the opposite. >> complete opposite. you take a step back. when the dust settles and if trump loses in november which i think he will, the big question is will there be trumpism without trump? i just think -- in this entire election i thought to myself, trump is a uniquely talented political figure as we've learned and he's been able to tap into something, but if trump were not in this race, would we still be having this crackup in the republican party? i would say yes, but the more conventional politician would be able to tap into it. if scott walker or chris christie and john kasich and a uniquely charismatic populous -- could have done this. >> but -- >> i know, but they were completely eclipsed by trump. if trump were in this thing, someone else could have marshalled a lot of it, and modern conservatism would have basically been intact. the idea that trump is a vessel for an anti-free trade and increase in the minimum wage, tearing up any ideas about entitlement reform and the idea
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that he's a vessel for that and the real agenda on the right. >> we've got to take a break. when we come back we'll talk about all of that, but we are also going to talk about the point you raised, which is, will trump really lose because he's up against another controversial politician, hillary clinton. when we come back. one coat, yes! ♪ one coat guaranteed marquee interior. behr's most advanced paint. come find our top rated paints, only at the home depot.
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and it starts the day you sign up. so whether it's your car or home, let allstate help protect your rates. talk to a local allstate agent and discover how much more their personal service can do for you. call 888-429-5722 now. and we are back with david frum, emily miller and dan, sinor, and ross, talking about what donald trump will do to the republican party and what it might do to him. david, i want to pick up on something dan was saying earlier. do you believe that there is
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trumpism without trump? that is to say, it doesn't -- haven't we learned that the base of the republican party is considerably less conservative than we thought? >> there are things in trumpism that are healthy and the party needs to learn from. the party needs to pay attention to the economic distress that trump has appealed to. that's for sure. it is time to realize that they have to be compensated by the winners and we need a different approach to immigration that is more controlled and managed in the american national interest and that draws more from highly skilled people and less from low skilled and those things are all true, but the authoritarianism,
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the inflammatory, the open racial appeals, the concealed racial appeals, all of that radically, unacceptable and that part of trumpism has to be faced. every country, every society and every political has demons. you have to confront them from time to time and exorcise them. >> what david puts very well is you can't have a party without trump supporters, right? the idea that you can one, purge trump supporters somehow and it's very hard to purge people whose candidate is now the nominee of your party, but two, and here i think i disagree a little bit with dan. i think the idea that you can sort of return to a conservative normalcy after an event like this is unwise and unlikely. what has proven is that the party needs to address these concerns, but it has to do it without becoming essentially captive to donald trump. >> i'm going to guess you think not only does the party need to address trump's ideas, but that more than the party could find it appealing that trump will win, i guess you would say. >> well, if the republicans want to win they need to get together and as you introduced us, we have four conservatives here and
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three are saying let's find a way to get rid of trump and get hillary elected and this is insane. obviously, they don't want to the win. you're hearing all these voices, but you are only hearing them in washington and new york saying we have to find a third-party candidate and we have to recruit someone and burning my republican cards. they're not -- that's not how you take power and that's not how you win elections and you will never see four liberals sitting around a table talking about how they'll kill hillary's campaign or find a third-party candidate or embrace bernie sanders. >> you cannot claim loyalty if you don't give loyalty. >> but you're talking ideology as opposed to -- you cannot claim identity if you don't give identity, and you cannot be president if you are unfit for the office. i don't care what label he wears, if he's unfit and dangerous, he is unfit and dangerous. >> can i ask you a question -- >> but if you voters don't think that -- >> leave us out of it. if hillary clinton basically performs against trump as well
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as obama did against mccain in 2008, and basically eviscerates him in the r electoral college and if we lose it, senate control. if we wind up with ray razor thin control -- >> we don't know that that will happen. >> if trump gets slaughtered it will have down ballot implications. you will blame these three activists for this? it means the country is rejecting the guy that you were behind -- but right now we're in may, and all you hear from conservative intellectuals, pundits and washington d.c. people is he's going to get slaughtered and he can't win. that's all you hear. as opposed to, wait, there's five months and we haven't had a convention yet and the country doesn't know donald trump yet and hillary clinton is such a flawed candidate. >> do you think the country is unfamiliar with donald trump? at this point? >> absolutely on the depth of his policies. and we haven't gone to the platform stage yet. >> i wonder why -- >> when pundits say there is a disorder in punditry. when pundits mean to say he deserves to be slaughtered and they have to say he's going to be slaughtered. what they are really --
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>> they also said that i wrote four years ago that donald trump is a serious force and needs to be taking him seriously. everybody has been mocking him since. >> no one denies that now. >> there is a long list of people who said there is absolutely no way he'll be nominated. >> a source for good or bad, that is what we're debating. >> hillary is better? is that the answer here? >> no. >> you think political parties are resilient in the end? >> yes, in 1964, you know, when goldwater got defeated badly all of the pundits were saying this is it, the republican party is multigenerational setback and four years later, nixon gets elected in '68. rpg go on to win five of the next six presidential elections and democrats, 84, people say the democrats are doomed and eight year later, you have a modernizer in bill clinton, who turns the party around and ushers in an area of governance. parties can bounce back. >> will the republican party of the future be as emily is suggesting a more trumplike party, populist, nationalist, protectionist and slightly
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xenophobic? >> i would say that it is very likely that the publican party of the future if it is a majority party will learn something important from trump and my hope is that it learns something about the importance of recognizinged economic anxieties of ddle america and if it doesn't learn something about the usefulness of talking about mexican rapists and banning all muslims and that's an open question. look, we're in an age where nationalism is resurgent and this is true in europe and it's true now in north america and it's true for understandable reasons. people, dislocation, the forces of globalization -- >> and terrorism. >> and terrorism, have created anxieties and created losers and successful politicians, especially sectionsful conservative politicians, have to address that anxiety, and so far they haven't. that's why we have donald trump. >> goldwater called for post-civil rights laws and talked lightly about fighting nuclear wars. the republican learned from
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that. there are things in goldwater to learn from, and we will drop the civil rights laws and no, we're not going to fight any nuclear wars. the analogy with trump is yes, let's learn about the things ross said and let's never -- let us keep faith with the people when voted for trump and let us also understand what he is and what kind of president he would be and how unacceptable -- >> why are you learning lessons four or five months before we even have an election? >> do you think he has the temperament to be president? >> i do. i've interviewed him and i've seen a different person from the campaign trail. >> so why a very different person? >> i was surprised even the first time i interviewed with him. very thoughtful, calm, direct, listens very well. very different than sort of the person you see at these big -- which you have to be different in the rallies than you are one-on-one than direct with the person and he's had the same executives in his companies for years and years and years and well liked by the people who work with him and i think you'll see that type of person emerge
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more when he's not fighting 17 people around him when he's just one-on-one with hillary. >> we'll have to end on the hopeful note that we all agree on. let's hope we see that don donald trump. next on "gps," donald trump and bernie sanders can't stop railing against china, it's for the extremes of the american political spectrum, but in an ironic twist is china responsible for political extremism in america. that is what a fascinating, important new study says. i'll tell you about it when we come back. no one even knows. but everyone knows cheese. cracker barrel has won awards for their delicious cheddar and they put that cheddar in a new macaroni & cheese. can you spell delicious? delicious. d. e. l... i love good buttery chardonnay. (vo) some people get to travel for work. not too oaky. i don't love the oaky. (vo) it's the little things that make a big difference. courtyard, make room for a little fun.
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now for our "what in the world" segment. >> we can't continue to allow china to rape our country. >> corporate america will start investing in this country not just in china. >> we've heard donald trump and bernie sanders rant on and on about china, and according to one group of renowned economists, china is actually to blame for a big problem in america, but perhaps not quite what the two candidates are talking about. a new study puts the blame on
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china for something surprising. the rising extremism in american politics. what in the world? a new study co-authored by m.i.t. economist david order finds that between 2002 and 2010 congressional districts that were negatively impacted by trade with china were more likely to elect representatives who were more idea logically extreme. in other words who veered further left or right than the officials they replaced so increased trade with china and the loss of american jobs as a result, have made for a more polarized u.s. house of representatives. overall, the shift away from the political center benefited conservatives much more than liberals according to the study. the clear losers were moderates from both parties. in an interview with "gps" order pointed us to an encapsulated example. representative jim jordan, who serves ohio's north district in
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columbus. the staunch conservative replaced a more moderate republican in the 2006 election and has since led the charge in congress to kill the export/import bank and to block obama's trade deal with the pacific. consider this hypothetical, had imports from china been slashed in half between 2002 and 2010, order estimates that congress would currently have 22 more moderates, but instead of these hypothetical moderates, what we have are four liberal democrats and 18 very conservative republicans currently roaming the floor of the house of representatives, and it's no surprise that fewer centrists in congress means less compromise and more gridlock. this study illustrates and highlights the problem with free trade. most economists agree that on balance, free trade is a net positive and it produces lots of growth. and guess what? so do most americans. despite the anti-trade rhetoric it turns out that the majority of americans are currently upbeat about foreign trade.
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according to a recent gallup poll 58% of americans still view foreign trade as an opportunity, while 34% see it as a threat. contemplate this real world scenario posed by the associated press/gfk poll to a cross-section of americans. a retailer has two pairs of pants. they have the same design and made of the same fabric. would you pay $50 for the foreign-manufactured pants or would you spring $85 for the american-made pair? 67% of americans in the polls say they would opt for the cheaper, foreign-made threads. in a sense, americans understand that they get a big tax cut in the form of cheaper goods, food and services because of free trade, but that is a diffuse benefit spread across the entire population. we don't thank china for that, yet the costs of free trade are concentrated. one factory, one town feels the
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pain and the political system responds to those concentrated costs. indeed, many of us when we see an american factory close do blame it on china. moderates must figure out a way to explain this mismatch between the broad benefits of trade and its narrow costs or as the country will keep getting more polarized with more extremists in office at all levels including maybe the presidency. next on "gps" is europe on the brink of collapse? that's what my next guest says and yanis knows what he's talking about. he was greece's finance minister during that nation's precarious period. differentlyok at paint question everything you know and what you don't know what if it's built with better ingredients given super powers and even a secret base to test those powers. since benjamin moore reinvented paint, it makes you wonder
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seemed in deep trouble. have things stabilized there? there are worries that everyone for sure, but people have talked fears of spain, portugal defaulting and even the brussels and paris attacks have receded in memories somewhat, but my next guest says things are actually very bad in europe and yanis varoufakis should know. he was greece's finance minister for the first half of 2015, and that was the most tumultuous time in greece's modern history and he has published a book called "and the weak suffer what they must," europe's crisis and the weak economic future. yanis varuofakis, thank you very much for being here. you see europe is in deep crisis, and you say greece might fall apart. >> not might, it is falling apart. if you go to austria and cross into germany you find there is a long line of tracks and cars because there is a new border there where there was none.
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s until very recently. if you look at our economies they are re-nationalizing debt. we are supposed to have a banking union in order to create the shock absorbers for the next crisis, but we're not ending up with the banking union and we're ending up with a banking disunion and at the moment the probability of losing your money if you have an italian bank is increasing, whereas in german, it would be decreasing, and the banking systems of the two countries that are part of the same monetary union are being torn apart. >> and why is this happening? part of it is the refugee crisis that is causing countries to re-nationalize things like border controls, but you're saying that at the heart of it there is an economic problem. >> well, imagine that here in the united states in 2008 the great state of nevada, the government of the state of nevada had, when the real estate sector was collapsing and construction workers were losing
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their jobs and banks are failing and imagine if the government of nevada had to go to the international markets and cap in hand in borrow money in order to bail out the banks of nevada and pay the unemployment benefits, and then of course the state government of nevada would go bankrupt and then it would have to go to the fed to ask for a loan from the fed and imagine if that loan came with strings attached. you will ruce pensions, social security, you will reduce expenditure of the state government of nevada by 30%, 40% and then what would happen is a downward debt spiral would start in nevada and incomes would shrink, debts would go up, and suddenly the state of nevada would be bankrupt as would its banks and then that contagion would take on a life of its own and it would move to missouri and mississippi and eventually it would hit california. and then, of course. >> and this is what -- >> and then californians would hate people of nevada and the people of nevada would be pointing fingers at the people of california and the union will be broken. this is how we have organized life and the economy in europe.
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>> and how bad can it actually get? when you talk about disintegrating, you think the european union could actually break up? >> i have no doubt it will. if we continue the way we are it would be awful, frightful and highly disruptive if something like this happens and that's why all of us should work together to consolidate the european union. >> is britain's exit likely to be the catalyst that could make this all snowball? >> i don't know. it may very well do so. this is why i campaign in britain in favor of the remained campaign. >> let me ask you about the politics of this because one of the things people worry about in the united states is we want europe to be able to act as a single entity on foreign policy with regard to sanctions against iran, sanctions against russia and we want a europe that can act as a single partner on issues like climate change, and
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it seems to me you're describing a europe that is getting more and more divided. will this affect europe's ability to play a part on the world stage? i. >> absolutely. do you think that vladimir putin would be so uppity if we didn't have this great depression and this integration of our economy? i'll bet you he wouldn't have been. you put together the words "european," "union," "foreign" and "policy," you end up with a joke. there's no such thing. everybody acts completely on their own and if anything instead of getting closer together we're being pushed further apart. mahatma gandhi was asked what do you think about european civilization? he said it would be a good idea. same thing with the european union. it would be good to have it. you believe there is a path forward and you are working for it. how optimistic are you about the path forward and how worried are you that there will actually be a breakup? >> my views is that we don't
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have a moral right to be anything other than optimistic. our optimism should be based on faith and not evidence. there is no evidence that things will end up well for europe, but we must remain optimistic because this optimism may feed into a political path that will consolidate europe. we need to stop this slide into a post-modern abyss. we have to stop re-erecting borders within the countries and we have to stop indulging in the not in my backyard logic and we have to face up to the fact that we have one european crisis and not a greek or british or italian crisis, but one crisis of one single market. we need to consolidate and create the political institutions that will help us deal with this crisis systematically in order to avoid the systemic collapse. >> yani svaroufakis, it's a pleasure to have you on.
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bassem youssef was called egypt's jon stewart. he was the host and star on a weekly satire show on egyptian tv titled simply "the program." like stewart did in america, yusef brilliantly and boldly took on the powerful in egypt from mohammed morsi and the muslim brotherhood to currently al sisi. yousef's satire was too biting, after being suspended and pulled off the air and forced to move to different channels, he announced he had had enough, the shows ended twoiers, and he left egypt in part over fears of his safety and now living in california, yousef will soon debut in california "the democracy handbook". listen in. >> it is an amazing honor.
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>> oh, my god, it's an amazing honor. i may be in one of the coolest cnn studios ever. it is so cool. >> we got an award for it. >> the bricks and stuff. we need a live audience and people cheering for us as we go in. this is crazy. yeah. >> you had your own shows. you had a show on after the egyptian revolution? >> yes. >> it was the number one show in egypt and then president morsi didn't like it and he prosecuted a case against you and morsi gets deposed, but it turns out the new regime doesn't like it and doesn't allow it to air. >> i'm not popular with the regimes and they have a problem with my jokes. i don't know. >> i know that you are constrained -- let's be honest, about what you can say about all of this. >> yeah. >> let me start by asking you, where do you think egypt is right now? there was so much hope in many ways the leader of the arab world seemed to be leading the
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arab world away from dictatorship and toward democracy and now we're back with the regime, and i'm going to characterize it this way -- more more repressive than the mubarak regime. >> this is the most democratic regime in the history of egypt. are we fooling ourselves? let's talk about how history works. i'm not a historian. we've been only five years. five years in history is nothing. where were the french revolution s five years? there was a lot of regression and where was the american revolution in five years? i always say a revolution is not an event, it's a process and you can't just really remove a whole regime and whole mentality that's been there for decades just for standing in the street for 18 days. it takes time. we were too naive to think it would actually work. >> how do we understand what happened in egypt in terms of the clamor for the military to come and replace the government? because i think a lot of us saw
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the square, the search for democracy, and millions in the streets in squares all over. and morsi comes in, yes, he governs very badly and tries to act high handedly, but what was it that triggered tens of millions of people to come out on to the street and say we want a here's the thing. the problem with the middle east in general this bipolar personality and the mistake that the west always does, we might deal better with the military regime in order to protect us from -- as a matter of fact, military and religious factions work hand in hand. one of them keep the other as a scarecrow to tell you this is the alternative. >> explain to me something about the arab mood or egyptian mood in particular. you're not just a political pundit, you had the most popular tv show in egypt. why are they so anti-american? i'm sometimes puzzled -- >> who's anti-american? >> when you look at the polls in egypt, whenever i go to egypt,
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i'm struck how friendly egyptians are and how they are fascinated by america but you look at the pugh polls and polls like that and ask, what do you think of the united states? and up there with pakistan and palestinian territories and anti-americanism are the egyptians. >> they are the first ones lining up in front of the american embassy to get a visa. all regimes everywhere in the world they need something to fall back to, a reason for failure. sometimes i feel the american and israel are people who -- they offer this kind of legitimacy to these regimes, we're not failing because we're incompetent, but because all of these people conspireing against us. we have this kind of -- we hate it but we would love to have a visa right now just to stay there. >> would you like to go back to egypt? >> everybody would love to go back to his country. but it's just like, i have a couple of my friends -- i know that have been arrested in the
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streets taken from their houses. never know what will happen. you can't really predict what's going to happen. >> meanwhile, you're going to keep doing comedy from the safety of california? >> well, i'm doing comedy now about the american politics. i have a stand and do my show again in arabic outside of the country. this is a stand that i stand by. and i'm doing a show now called democracy handbook. and it is basically discussing american politics through the eyes of middle east which could be very interesting. >> does trump remind you of some middleeastern politics? >> trump -- if trump runs in the middle east he's going to be a progressive liberal. i mean, oh, my god, you're so cute. you're talking about trump, xenophobic, hateful racist bigot. >> and in egypt -- >> back home in the middle east, that's one thing.
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trump, lightweight. >> bassem, honor and pleasure. >> thank you so much. >> next on "gps", do two-day workweeks sound good to you. in venezuela they are nothing but bad news. i will explain. (vo) some people have to travel for work. hey there, looks like you've had a long day. (vo) some people get to travel for work. i'm really looking forward to this spinach salad. it's got quinoa in it! (vo) it's the little things that make a big difference.
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the imf predicts the gdp will grow by 2.4% in 2016. it brings me to my question, what is the world's fastest growing economy according to the imf's latest world economic outlook report? myanmar, china, india, or the ivory coast? stay tuned and we'll tell you the correct answer. this week's book of the week is joshua cooper ramos the seventh sense, the new reality of the world we live in here today uses connectivity, people and computers and almost everything is getting linked and these new networks are spewing oceans of information. he writes with ease and authority about the foreign policy of this power shift,
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giving us an essential guide for this brave new world. venezuela does not observe daylight savings time but last week the country's clocks sprung forward 30 minutes. this way people wait longer to turn on lights in the evening. this small change ordered by president maduro is indicative of a big problem, a severe electricity shortage. maduro blames el nino saying drought has emg bed the dams that power most of the country. his critics blame government corruption and mismanagement of the economy for years. the power shortages are did he have vas stating and staggering when you consider they are happening in the country with the world's largest oil reserves. there are rolling blackouts and workweek that has been reduced to just two days for the 20% of
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the workforce that are public employees and electricity isn't the only thing that's scarce. faced with spiraling oil prices, the government has ins ttituted rations. it's nearly impossible for venezuelans to access even the most basic essentials like food and medicine. somehow maduro managed to celebrate one thing this week and told cheering crowds he was raising the minimum wage by 30%. inflation in venezuela is expected to rise by 720% this year and 2,002% next year. latin america and the world can expect only greater turmoil and instability from venezuela in the coming months and the people of that country will probably face even more hardship. the correct answer to the gps challenge question is a, the imf projects myanmar's gdp will grow
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by 8.6% making the fastest growing economy. venezuela is expect to contract by 8%, the worst projection of any country in the world. thanks to all of you for being part of my program this week. i'll see you next week. >> happening now -- >> i think paul ryan is soon to be cantored as in eric cantor, his political career is over. >> sarah palin saying she's campaign against the house speaker in his august re-election. >> because he's so disrespected the will of the people. paul ryan and his ilk, their problem is they have become so disconnected from the people whom they are elected to represent. >> and john mccain saying it's foolish to ignore
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