let's not forget that we have an apartheid regime. i think. one well. whatever the government says there's a few safe get ready for freedom. you know sometimes you see a story and it seems so for like sleep you think you understand it and then you glimpse something else and you hear see some other part of it and realize that

everything you thought you knew you don't know i'm sorry welcome to the big picture .

welcome back to the big picture i'm tom hartman coming up in this half hour the dow rose five hundred points today ties in three years ironically on the same day that a reserve chairman ben bernanke he gives his assessment of the economy so is there good news on the horizon and in tonight's daily take the nation of turkey syrians in some economic woes find out how bankers are planning to crash the turkish economy. and there currency there to boost their own.

right we're going to try something different with the made we were on the list time i'm the lone liberal toto is all of america's best conservative commentators on some of the biggest stories of the week joining me tonight jamie weinstein deputy editor of the daily caller dot com and david hallberg west washington correspondent at investor's business daily right ok welcome to you both let's get started moreover matched. the american people really all you have a choice between president obama's budget and the republican budget the answer actually is no on sunday nobel prize winning economist paul krugman uses op ed to endorse the progressive budget plan this is from the in the house progressive caucus also known as the people's budget the nobel prize winning economist wrote a new york times quote the only major budget proposal out there are for in a plausible plan the balance in the budget is the one that includes significant tax

increases the people's budget from them for congressional progressive caucus which unlike the ryan plan which was just right wing orthodoxy with an added dose of magical thinking is genuinely courageous because it calls for sure sacrifice so given that the progressive plan ends our foreign wars achieves a budget surplus by two thousand and twenty one. way faster than either the president's or the republicans plan and does all this without sacrificing medicare medicaid and social security is a painfully obvious that the best way forward for america is the progressive budget no actually it's one with ending our wars to keep it intact or a social safety net and raising taxes on millionaires and billionaires i think that this is the way one of the ways you can tell who is actually serious in trying to come up with a. a solution to to our problems budgetary long term budgetary problems paul ryan's plan which might not be perfect but he's actually he's asking the asking for a serious debate. serious debate it's not

a plan that you would put out there if you're looking clearly for electoral purposes to get reelected now because he's going to get creamed he's attacking a third rail of politics and he's doing so because he knows it's necessary and to to save america from its fiscal crisis how he's rewarding himself that's called courage he's well i would say he's doing so because he's getting big bucks from people who will make even bigger bucks in medicare and it's privatized that rich even a rich guy it makes it exciting millions of dollars to get elected office yes and that's why the money that was getting us here might think yeah i did i did you because you know that you can't get elected by tacking a third rail paul i said i can't even he's making is that if he goes after medicare right now it's not going to happen it's not going to go anywhere in the senate and i'd love to hear your take on this do let me finish some source of i mean it is that he's figure in that his big funders and these big insurance companies will buy millions of dollars of the ads to get him reelected you think i'm wrong well it look if this is such a good idea the progressive plan by hasn't president obama adopted it i think

because it's probably also a political loser it's it relies on very large tax increases and i look at the only i would point out is you know one of the things that's being talked about today is that you know paul ryan ends medicare as we know it medicare as we know it is going to end one way or another it's just a matter of how do we take some distance that. the congressional budget office and the assumption is that it will end one way or another if it's if changes aren't made and yet of the way it's funded in the way of money now yes there are that there are. ways to do both of those things it doesn't is going and it's going to change what's going to end it we as we know it if it does not yeah if we don't change it in some way i mean it's fiscally and reagan raised the taxes and so security and programs still along well we've continued to raise taxes are. we've raised taxes security and medicare over the years and we still keep coming up with these fiscal short and we still have the lowest tax rate in the world or at least and i really felt o.e.c.d. countries well and makes up we have the greatest inequality we've got the worst

outcomes or in the bottom fifth of outcomes in terms of in from mortality teenage pregnancy this is actually going to be as easy as drug addiction and yet if you rush to the suicide and yet people still vote with their feet to come here what what why would anyone want to come to such a horrible place sweden while at the moment that's not true there is a huge the battle going on in europe right now about immigration and eat you know just pay attention even when it's loaded with your goods that are living off the i know it's there and i know it's had the swedish people so angry that's going to flip the government if there is and you try and get in there on a good front is actually moving sweet jesus was that was moving back it's you know could i go you know not a chance any up let's let's move along better reserve chairman ben bernanke he held a press conference today to talk about the fed's future efforts to stimulate the economy take a look. it's policy statement released earlier today the committee announced first that it is maintaining its existing policy of reinvesting principal payments from its securities holdings and second that it will complete its plan purchases of six

hundred billion dollars of longer term treasury securities by the end of the current quarter. what's really important here is what he didn't say in other words more interest secret low interest loans to banks and transnational corporations but no more quantitative easing he didn't announce that they are going to buy more treasuries in other words expand the money supply so far the fed's efforts to stimulate the economy have been widely and as been ineffective what else should we expect from a program that was solely focused on getting trillions of dollars to banks toure's multimillionaire c.e.o.'s dictators like nor market offie and the wives of wall street head honchos and hoping that that money would trickle down to us it's that they wall street is surging the banks have tons of cash the richer never been richer and yet our economy is still in the tank for working peoples of the dozens just once and for all prove the trickle down economics is an idiotic idea. the time where do you get the statistic that the rich are richer than they've ever been in

fact that's that's not the case the rich have seen their incomes fall just along with everyone else the last two years for the past two years but they have made most of it back up no i don't think that's i don't believe tina had letters about the rich are richer than they've ever been. fair enough but look i don't really know this quantitative easing is necessarily a trickle down policy i mean quantitative easing has been you know about the notion that you can boost the economy by by you know boosting the cash flow boosting the amount of dollars that the government prints and i'm not really sure that that's ever been sort of the you know the reaganomics free market well the idea the idea of quantitative easing was really similar to the idea of. tarp which is let's let's put money into the system and into the banks and you know by buying treasuries as well you know let's put money into the system and and hope that that ben causes the system to loan money out to small businesses to help banks refine

mortgages to get things going when in fact in the thirty's what roosevelt did was because everybody had five year mortgages back then in the one nine hundred thirty s. and they were all going south is he created a federal agency that bought all those mortgages turn them into thirty year fixed rate mortgages and over a fifty year period the period time took to dissolve that agency it dissolved in the sixty's the government showed a profit on reagan with the s n l's and he regulated the money to the crash in eighty six so what did he do he shot them all down he fired all the banks three sent two thousand people to prison the stockholders took a haircut and and the resolution trust corporation he set up the bill siegmund good republican he put in charge of it showed a profit why didn't bush do the same thing with the banks which i think is two points to be made here one is that i think pretty he accomplished what he wanted to do which was be so mind numbingly boring no one would want to hold a press or the press conference again never to answer the point. the rich are getting richer and the poor are getting poorer which is something the bom has been saying as well there was actually a recent study last week released by

a cornell professor as well as to other professors showing that's not exactly the case at all the poor actually have been getting richer as well. the other data had been taken to account some of the other benefits that come along with jobs the vast majority of americans would disagree with these three professors but you know it's it's whether the rich are getting richer the poor are getting poorer i mean isn't there or isn't there something to be said for doing it the way that reagan did it or the way that f.d.r. did it rather than the way that bush did it in other words rather rather than simply saying we're going to pour money in the top with it wait a minute i mean we're and he isn't even though didn't have there was an s. and l. bailout look that's what i'm saying well target was a detail how it for the banks i mean look it is actually there was an s. and l. bailout get rid of this no those those banks were nationalized those banks were shut down the c.e.o.'s of those banks were thrown out they brought in government guys with green eyeshades who used to be bank examiners to run those banks he sent over a thousand of those bankers to prison one of the few who didn't was neil bush who

made off with a million bucks from silverado i mean you know no reagan reagan took it seriously things like tarp are not free market economics this is quote you know this is better. call the better term for it is corporatism what free market economics would simply do would be reducing regulation reducing caps the rates and getting the economy going that way i mean things like tarp things like obama's stimulus plan has suddenly lost in regulation you're in favor of for example football games without referees maybe it would be more exciting though if you think i've played i mean i would just like football gets a period. of ok. let's move toward a bit of it gas prices or by the way i just put a punctuation point on that i'm just curious if either one of you i've heard this conspiracy theory on some of the conservative web sites that president obama released his birth certificate today so that nobody would notice ben bernanke he's . i've heard someone say that about the economy has no i don't think anyone noticed them anyway and so there you go it's mind numbingly boring ok gas prices are still

spiking so of course republicans are criticizing president obama for not doing enough to expand the oil drilling but like some of these claims in the right completely baseless look at oil giant caliber which just posted a historically high first quarter profit of five point three billion dollars while the money because as halliburton claimed that today's financial times there is increased drilling in the united states they made most of that money in the u.s. so should the right back off its criticism that obama isn't doing enough and what really realize the real reason for surging gas prices is because of rampant speculation on wall street even conservatives are talking about speculation driving i think i mean no i don't think we should back off just because they were able to drill in some new places the united states and they more and more profit that doesn't mean there's drilling wherever i want to wash it all why is the price of every every oil company you the oil companies want to drill in places where they believe there's a lot of oil in the united states and off the coast united states where they were not permitted to do to do it why not let them do it why don't you have that one

piece of the problem we're awash in oil we're awash in oil but we're also awash in a tremendous amount of demand for oil i mean the supply is not keeping up with the demands not genuine demand though david it's demand for derivatives you know no you know if you're still a sheen on the rise the values i actually speculation drives the price lower speculators what they do is remove the risk that is inherent in economic transaction i wish bush told us in two thousand and seven the reason they were going when gas was a dollar or four dollars and some of he was wearing a can of commodities futures trading commission and looked at it and did not find the speculation was the culprits but what speculators do know they were right in that they were just trying you know they did not find there was a crime they found that speculators were not the result for rising gas prices what's right now is a rise two years ago. presumably supply and demand trying is coming on line more and more people are going to stay high on it because the economy would be. on and that means less people have been good the funds to buy cars in china and other places so even though saudi arabia says we don't need to produce extra oil because

libya's off line and and the price of the price of oil the availability of oil there's no shortage of availability oil right now for any refineries anywhere in the world including the united states. we should have higher gas prices but i think you're making a good argument for donald trump's presidency because he says he's going to go to opec and demand them to start pumping more oil. and finally maybe in five of the latest wiki leaks release targets the trials and tribulations of get known by trials i mean secret military hearings and admissions that we don't really know if any of the detainees or many of them anyway are guilty or innocent and by tribulations i mean throwing people in detention because they were in the wrong watch so will this latest get more embarrassment finally force republicans in congress to stop blocking the president's efforts to shut down that the last congress blocked the president the president's efforts as well simply because they didn't want the prisoners and get mo being transferred to the u.s. which is what no one wants i'm not even sure that obama wants that and he started

up military tribunals again earlier this year i don't think we're going to get any of these so frightened some americans who are such terrified little this is this is the i mean it's completely irrelevant what guys are such supervillain this is this is so silly so you want to shut down which is probably the finest the nicest jail the ritz carlton of jails anywhere in the world you know who doesn't want get most shut down and transfer to some other jail the united states doesn't get all the guys in given the i don't disagree with you on that but the rest of the world is using you know the reason major recruiting is not actually it is it was a great study in the weekly standard by thomas joscelyn of all the most recent speeches just all the speeches the speeches that were given very rarely mention get go but here's the thing from. everywhere even once is enough for me but once is enough if he meant you get well the reason that this is become a bogeyman is because you and people on the left and people in the europeans have created this false notion that is in the terms of amnesty international offensively historically offensively a gulag of our time what is nothing of the sort all it was certainly during the

bush administration crimes were committed there against people that you know almost one hundred people died during their interrogation they did not get mowed well you know daily because i didn't like or not eating food there yes it was it was not like people were sold. should there be sixty six i mean options a date there was a so there was a president obama had it an investigation done when he came into office the defense department issued a report two months later they did find some overall i do you don't see rob why would you agree with president obama that these guys should be kept in jail forever without due process a law this is a vice is the way it's this is seven eight the members and i don't know nine hundred thirty as usual for benefits i mean they don't they don't fall under the constitution says kirsten's it doesn't say citizen this is a word this is this is not here with us everyone we captured on the battlefield us and europe during world war two should have got a proper trial during the war with these people did not declare they had nothing to do with in law. you're saying that the people i'd most people give i'd nothing to do with yes that's not what the documents reveal there might be i think history

history's going to see that we treated in a time of war the people who disappeared humanely i agree history definitely will judge us thank you jamie weinstein they did it over thank you very much. after the break find out where wall street vultures are circling now and why the united states could be the next great. let's not forget that we had an apartheid regime right in the. i think. even on the well.

we have the government says they're going to keep you safe get ready because of their freedom. you know sometimes you see a story and it seems so bleak you think you understand it and then you glimpse something else you should hear or see some other part of it and realized everything you thought you knew you don't know i'm sorry welcome to the big picture. for.

your world. and you know. into a little nearer. to the world cup to bring to justice or. i have every right to know what my government should do if you want to know why i pay taxes. but i would characterize obama as a charismatic version of american exceptionalism.

it's time for thought i'd say the good the bad of the very very painfully ugly the good senator dianne feinstein democrat from california is ushering legislation through the senate named the respect of men. the act that would promptly repeal the deep bents of marriage act it federal law that prevents same sex marriage bill picked up two more co-sponsors last week as on track to pass out of the senate judiciary committee soon so all the republican controlled house is fighting to defend doma the democratic controlled senate is fighting to repeal it still think there is no difference between the tea party and the bad world net daily a conservative conspiracy web site as opposed to over six hundred articles since president obama took office alleging that he is not an american citizen so now that

the president released his long form birth certificate time for world net daily to admit its mistakes right. wrong today the editor in chief of world net daily joseph farah released this statement saying it is important to remember that there are still dozens of other questions concerning this question of eligibility that need to be resolved through a sure what has become a very skeptical public concerning barack obama's parentage is adoption is that is throughout his life. there really are no more questions joe he was born in hawaii he's a u.s. citizen is the time to take off the tinfoil hats at will. and the very very ugly newt gingrich speaking at a catholic prayer breakfast this morning gingrich took umbrage with a very pressing issue that all americans are talking about at least the talking about if they're paranoid religious zealots and that issue is our alan your dating system. until religious values and principles are coming to dominate the academic news media and you will class in america there's now

a convention in scientific publications for a place on all gone money a.d.d. with common era c.e. secular cultural pressure rejects recognition of the christian calendar in favor of an artificial rip. relax newt kasia eighty to see won't bring about the rapture but i do understand you have to make it seem that way to win. up the christian right in case you decide to run for president or you just want a whole bunch of campaign money from them and that's very. wall street banks three years are looking for their next next get rich quick scheme

and they may have found it in the nation of turkey this week the turkish economy is front and center in world market news because of its soaring deficits a deficit that could lead to an economic implosion as the new york times pointed out in an article yesterday turkey's trouble in financing gaps or deficits of that size has been at the root of its two busts past two bus and some worry the history may be repeating itself basically turkey is hooked on credit and aggressive banks over the past two decades have been giving pretty much anyone a loan and even get a loan through text message or at an a.t.m. so the economy both here and worldwide is being inflated by huge amounts of debt that could come crashing down at any moment highly influential economist nouriel roubini a guy who predicted the financial collapse here in the u.s. before it happened in two thousand and eight he voted his newsletter today to turkey's debt saying turkey stands out in terms of the size and speed at which it's a current account deficit is expected to grow in a worst case scenario this could lead to credit bursts and severe downturns and

roubini and when roubini is talking about turkey and soon everyone in the foreign business community will be talking about turkey and that means it was at most a matter of minutes to hours after roubini published his newsletter with the vultures already started circling. thanks to republican phil gramm alan greenspan and reaganomics there is now practically no limit to what banks can make a buck off of today and in the last few decades the big payoff gamble in wall street is in foreign currency speculation that's when banks speculate or bet that a certain country let's say turkey's currency is going to collapse and if it does collapse the bankers make off with a ton of money a problem is once this process begins is little turkey can do to stop it with more and more banks there's bet the turkish currency will collapse and the credit agencies will start downgrading turkey's debt cause even more pressure on their economy until finally the turkish currency or their economy or both does indeed

collapse it becomes a self-fulfilling prophecy these guys are like vultures circling around a wounded animal trying to feast off what little they can before just the bones are left they sit around wait for a country that's in economic trouble and then dive in to make sure it does indeed collapse is what george soros did back in one thousand nine hundred seven in thailand they put of seven hundred million dollars bet that the thai baht would collapse as soon as that nation started getting to an economic trouble seen his move major u.s. banks like goldman sachs j.p. morgan citibank and morgan stanley jumped in with multi-million dollar bets on thailand's collapse which drove down thailand's bond ratings raising their cause to borrow and then sure enough thailand collapsed for some reason these bankers don't see that their massive payouts come on the backs of millions of people who suffer starr and endure violent turmoil when their economies collapse these guys are making literally billions destroying people's lives and i'm willing to bet that turkey will be their next target now that roubini has pointed out its vulnerability

. so why should we care because after turkey the united states could be next as long as these insane tax cuts for millionaires and billionaires persist too much hot money running around out there then we will see for ourselves looking at a debt that could take down our economy just last week yes m.p. credit rating agency said there was a one in three chance the u.s. credit could be downgraded and if that happens you really think the bankers won't turn their sights on pillaging of the america and pillaging us these are the same guys who are selling off our nation's infrastructure in bulk to foreign nations and the same guys who are shipping us jobs overseas by the millions and they're the same guys who already showed us back in two thousand and eight if they don't give a rat's patootie about bringing our economy to the brink just to make a buck turkey maybe the wounded animal today but pretty soon the us can find itself surrounded by wall street's ravenous for choice that's the big picture for today for more information on the stories we covered visit our websites to thom hartmann

dot com and our also check out our you tube page at youtube dot com slash the big picture artsy and slash tom hartman and this entire shows available for free podcast on i tunes and don't forget democracy begins when you get involved your city. we'll. bring you the latest in science technology from the realms where. we've done the future covered wealthy british science.

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