now that we're running a giant ponzi scheme what we're telling them is that if we can't borrow more money we're not going to pay back the money we've already borrowed which means of countries like china decided they don't want to lend us any more money then we're not going to pay it back to my they've already lowered us or we do paid back it's going to be with money that has very little purchasing power because ben bernanke is going rogue also pretty gross the sooner the chinese start to stop enabling this phony economy that we have the sooner we as americans could begin to repair the damage and what's going to happen is where the dollar collapses americans are going to see a big reduction in our standards of living. website. you you what you think about the outcome of the american debt ceiling debate it will be more than the hardball feel unsafe are saying there's no doubt the ceiling will be raised seventy percent say the result will be a global economic crash and eight percent say to the u.s. will to fold and they'll be no pun when it's home. small countries

like the republicans to evacuate feel that our economy's being crushed under the weight of the year a current crisis with bailouts the year as a member states needing to be paid for nations likes to back off even the pinch has also reports critics that say the rules have changed with the year a membership failing to live up to its promises. they say that charity starts at home also a vacuum may be one of the poorest countries but with pressure from the e.u. to participate in the second bailout their money could soon be going to greece it on them i'll tell you what joining the euro zone brought responsibilities but not benefits in fact slovakian pensions a significantly lower than days increase people here at this hey michel to tell us they barely cover their food costs with the money they receive we have to now. deal with homelessness we have to reform our pension system our health care system this

never enough money. that back in two thousand and nine when slovakia joined the year is a it was such high hopes it was also kind of prestige to be the first one among hungary and public polish people read about for the one from central europe to be you know in the zero club back the year using it seems isn't all it was cracked up to be as rejoining the euro zone there was always been treated that was saying that birds of one country are a liability of just this one country in may two thousand there and the rules changed dramatically days left as of the year a gang may well now be breathing a sigh of relief if a neighboring nonny here is saying countries have felt the benefits slave actual peers have been heading to their check out in a bid to escape the year and we come just across the border from the backyard to the czech republic where the superstore outlets doing

a been in business more and more people make the regular journey to do their shopping because the prices here has to be much cheaper with people now shopping outside the country vacuums retail revenues have fallen dramatically in the high prices mean the tourism industries have been hit hard certainly not the results hopeful when they feel. joined but every club has its leaders and what they say apparently gays even if they're the ones who got you into trouble in the first place you see be created this illusion that all the countries in europe on our. homeward jenna's there are the greek bonds are as good as german bonds saw. made it possible for greek to all the world so much money slovakian may be contributing this time it's left many of those at first so eager to join the euro gang feeling they're now simply being pushed around serfs that our thesis back in.

has been warned by the international monetary fund that it needs more cuts to avoid becoming the next fix him off the debt crisis the i.m.f. says the country's credit rating could be at risk of austerity measures are taken economics author patrick young and he's paris developed these problems long ago. the problem is look these aren't things that have just happened suddenly i mean the french budget deficit has been in a deficit the french budget since one thousand nine hundred seventy four i mean these are things that have been going on for thirty or forty years it's absolutely ludicrous untruthfully governments need to stop spending and they need to be very realistic about their budgets and there are fundamental problems going all the way through the euro zone and we don't have any leaders who are willing to give us a sustainable solution this is typical of contagion we've been talking about it for weeks we have you know when you get some degree of illness and it goes through the body ultimately you have to decide when to amputate it and the truth is we should

have amputated greece from the euro zone long ago we've got the situation at the moment where provincial libraries in northern germany are being closed because the money isn't there because it's being used to fund people in the mediterranean i think german voters are going to get very angry about that very very soon and i actually think the political will is not there amongst the people to endlessly keep bailing out their saw their neighbors it's going to be a huge problem because ultimately the contagion is going to hit and i really do believe that after last week's events unfortunately we only enjoyed closer to the idea of a total euro meltdown. still to come on the program a dangerous connection libyan rebel movement to killed and was off to his alleged times to get that information cooled into question. and we take a look at the israeli protests taking inspiration from the arab spring the warring netanyahu gulf. war so investigation has concluded that the

main responsibility for the polish presidential plane crash in western russia last year lies with the crew however it says russian air traffic control is also a poem to play with a catastrophe killed president lech kaczynski and off the polish preschool and as. for us. alexei we've been at the news conference today in warsaw what else did the investigation team have to say. well certainly the main highlight of this press conference by the country's interior minister and the commission which was investigating the smolensk tragedy which killed most of the just political leader was that war so openly admitted that the crew of the presidential plane is mainly to blame for what happened in april on april tenth two thousand and ten saying that the crew both had very low qualification to operate in such heavy and difficult

weather conditions as it was on that day in nearby the city of smolensk and also did a serious of underwrites actions that led to this crash. also there were many many details which in some way differ from the report published by the interstate aviation commission earlier this year the report which made by the russian investigators in namely that investigators believe that the airfield in smolensk was very hard to land to land at especially in those difficult weather conditions and also. so there were some misleading information not serious but still misleading from the air traffic controllers on the ground in smolensk at the same time one of the members of the commission said in his report that following the reports that the plane initially hit a tree which led to the destruction of the plane in just two seconds after that he

said that it was not the tree which was too long it was that the plane was in the wrong place and this is the direct responsibility of the flight crew so this report as far as we understand is meant to. to clear out any mistakes like that in the future and according to the country's interior ministry minister this can be done only through cooperation. on a very detailed sounding report. coming out today and this tragedy of course had incredibly wide ranging political implications to. well certainly this whole story this whole case has been political through and through through from the very first minute some parties nationalist movements in poland have been accusing russia of holding back facts in the investigation of stalling the investigation and indeed this report will probably put paid to all the speculation concerning russia's involvement and some of the accusations even pointing at moscow for bloating of the

air crash certainly this report done inside poland will clear many of those questions and will probably come some of the tempers in poland indeed we understand that the country's prime minister is also expected to give his view on the report by the commission and we are following the developments in warsaw and we'll be bringing the latest to our viewers as soon as we get the latest details very much. reporting for us. on staying with this story david lemmon he's the operations and safety editor of flight global magazine says and the reason that the investigation continued is because poland was so devastated by the tragedy the investigation that followed was was almost painfully thorough. i think the russian investigators knowing how tragic this event was and how highly

politically charged it was they went out of their way to explain the reasons for. the facts that they found they were unusually they used in an unusually large number of words to describe really fairly simple things. i think anticipating that the truth was going to turn out to be very unpalatable which of course it was i can't really see why this investigation is continuing the accident was a simple one it's a type of accident that followed a mistake of a type which is happened countless times before in aviation history. i think the only reason why it's happening is because this was such a human tragedy such

a political tragedy for the polish people that they they've been they've been given the truth and the truth is unbearable they can't take it now i don't think that the polish investigators think they can pin the blame on anybody else but i do think that they are looking to pins some of the blame on somebody else. well for more stories you log on to our website dot com where you can find out more about the russian led investigation into the polish plane tragedy we're also on line few right now discover what the f.b.i. and norwegian massacre suspect on those predict have in common. as the mercury heads fall for c degrees celcius in moscow we see how people throughout the city of dealing with the heat.

now are obscuring more european style discontent israel is the latest scene of nationwide massive protests dozens of tent cities are appearing across the country as thousands take part in rallies to the mall and the government provide cheaper housing and lower the cost of living the biggest process yet centered in tel aviv is planned for saturday night the demonstrations resemble the beginning of the revolution in egypt that's according to thousands of palestinian israeli journalists. two thirds of the poor in israel are working poor people who are working every day people who have a great jobs and still are not able to go above the poverty level so that's a reason that people are coming out of the street despite the growth in g.d.p. it doesn't really translate on the ground the prices are incredibly high there israeli government has cut

a lot of the social services if you look at how the protesters started it's almost identical to how it started in egypt and internees and other places started through facebook somebody who made a post on facebook through social media that's how people organize it was organized completely in the beginning by the young people in israel students people who feel that they have no future people who feel who can't afford living here and i was realizing that this is not the way to go forward and he's trying to figure out ways to deal with it because the government could definitely fall in israel and these are ground and i think he is in danger especially that the process there's a growing while israel has been under building in tel aviv and haifa and all these major cities and israel is all have been overbuilding in the west bank for example fifteen percent according to the peace now report fifteen percent of israel public building budget have been going to building in the settlements in the west bank which only consist of four percent of israel's population focus of the israeli government at the moment is more sustaining circulation and more sustaining the

settlements rather than caring for the majority of the population who actually opposed to the lands and oppose a patient and israel proper. libyan rebels have declared three days of mourning after their military commander and team of his aides were killed abdel father yunus was gunned down hours after rebel forces reportedly arrested him over his family suspected ties to come of gadhafi regime units have been libya's foreign minister before he defected to the battles at the beginning of the revolution the national transitional council blames the killing on gadhafi supporters is and claims to have arrested the head of the group responsible for the consequences of the murder will depend on how deep the command is alleged connections really ran that's according to one of faris advisor to america's antiterrorism caucus. the consequences of his killing could be either short ramification or vaster

mitigations if indeed he was only an individual or even a high ranking official who had still relationships with with the gadhafi regime then his killing would be it would be the end of the. if it's the other case that is he and others inside the council the interim council of the bin ghazi power have been in opposition to another force a militia force it could be other little two opponents it could be the militia of the jihadist or another tribe if the case is deeper than the concern is more serious in the west that there could be more clashes in the future or more tensions within the military camp at a time where the rebel seems to be on the offensive so we're going to wait and see the results of the investigations and most likely the nato command would want to be part of these investigations. when i come on cost of a says the alliance will keep and knowledge when it's your presence at the border with to call possible new

outbreaks of violence that clashes erupted at one of the two disputed border crossings where about two hundred three five homes set light to a customs paste it was in response to an earlier me by cost the police to take over the crossings blocking exports from the region they say peacekeepers needed to stop the violence going on the fall out of the process has gone unless i was on the puppet grade says feel that being treated as an unwanted minority on land they still regard as. they're trying to they're trying to enforce some unilateral moves in order to change the reality on the ground to change the reality as it was as it is under un resolution security council resolution twelve forty four course of always towards the session is through public so in other words the serbs or down in kosovo still believe themselves to be part of serbia and they're acting in that capacity now the western states mostly nato

states that have recognized course of our treating them as a minority but we must remember that the key to the situation in kosovo was really in nato hands they control militarily the entire province so really whatever happens down there is under their control and it's something that they will tolerate or not tolerate and we must also remember with the burning of the border checkpoint we still don't know who actually did it these were masked men they really could have been any nationality we don't know whether they were serb albanian or french or even american we just still don't know that. i heard some of the world headlines are brief now and found dead gathering on t.v. elsewhere in egypt five months after the regime of president hosni mubarak fell the demonstration has been organized by liberal parties who want a set of agreed guidelines for

a new constitution protesters also want an instant trial for their food. and his allies all of whom will appear before a cairo court next week. at least six people were killed when peacekeepers a file of al qaeda linked militants in somalia's capital mogadishu violence broke out as african union attempts to supply aid to famine refugees one hundred somalis islamists were god's starvation relief efforts as a threat to their all fourteen reports of two million somalis a not receiving food and water in militant controlled areas. u.s. the north korean diplomats met for several hours in new york for the first time since two thousand and nine both sides expressed satisfaction after the talk describing the serious and businesslike held in a good atmosphere the music which will continue on friday is aimed at reviving stalled six policy negotiations on the nuclear program so just how but escalation

on the korean peninsula since the sinking of a south korean navy vessel by the north of last year. hundreds of demonstrators surrounded japan's embassy in seoul angry at a japanese government ban on its officials for flying with korean air the decision follows the south korean airlines test flight of a new airbus jet over the disputed leon call rocks a few weeks ago protesters japanese flags and protos posters rubber. ok let's check out all the latest business news now which has. a little there and welcome to business here on r.t. . now oil prices continue to ride high despite ongoing fierce of defaults in europe and the us and according to europe's biggest oil company royal dutch shell the time of low cost oil and gas is at an end finding resources will be more complex and will require more money and investment well to discuss this in more detail i'm

joined by jorge and want to pick up plots in london thank you very much for being with us on the program now how much are the debt concerns in the u.s. and europe weigh in on the oil price. of the moment strangely they are not weighing very much the oil price has been fairly stable between one fifteen and one twenty let's say but i don't think the market is quite absorbing what our u.s. default would be if there is a u.s. default that would trigger a lot of concerns on the financial institutions then you need the financial institutions to essentially well provide the financing for a lot of transactions so i think that before would really put a cost or very negative cast on the price of commodities in the short term. then the next question that needs to be address is how is that the fault going to be manage if that the fault is manage just through lower consumption and just

lower expenditure in the us then that is very negative for four commodities as a whole if on the other hand the go ahead as a sort of beggar you say that the effect on her oil hasn't really been seen yet if the u.s. does go into a default what kind of effect will that be in terms of actual price in the next five to ten years then. what willis's called the how do you get comic issues manage because the us is still has the capability in effect of printing money so if they print money then the opposite event happens is just an issue of which a group will the us stakes if the u.s. takes the route of the prudent lorien expenditures so it can manage is there the effect is actually bearish if the result is a total chaos in the financial industry then is completely bearish in the levels we

saw in two thousand and eight i think there are sufficient forces on both sides of the table to ensure that there is a norm calles in on our financial larch mishaps so i think the industry is still reacting currencies interest rates the price of commodities are still acting as if a solution is going to be found i may think on the aggregate is solution will be found by looking forward from here on words i think the possibility of further quantitative easing twenty years so in effect bearing in the short term events. surely indicated there before the year of cheap oil maybe your because everything is combining into more monetary expenditures are you doing sorry sir you do agree with that report where they're saying the era of cheap energy is over. well the cheap energy is

a function again of the financial market and the financial market on the aggregate right now splinting countries that want to inflate their situation out of the trouble right here by inflating their systems they stink that they get out of trouble and by inflating the system that leads to higher commodity prices where these grains coal or oil or on the aggregate i think does what europe has to do i mean stone i think does what the u.s. has to and will do so from a russian point of view on the aggregate over the long term the oil prices will be higher whether that buys more things with the money i don't think so because this is really a reaction of inflation. as many executives in new orleans street are saying i'm that it's not just in the oil industries in the many commodity markets the costs of operating you see creasing the cost of inputs required to extract resources creasy

so that means that oil and other commodities will be high all right all right thank you very much mr hoar him want to pick a talking to us from potts in london thank you. well let's have a brief look at the markets now precious metals prices are down at this hour however they are still high as investors look for a safe haven due to uncertainty over the u.s. debt resolution after republicans counseled a vote on the deficit reduction plan. it's not looking too good in europe either where moody's rating agency has put spain on review for a possible downgrade the banking stocks are leading the fall with shares index should down three point one and voices three percent in the red meanwhile mobile operator vodafone rose three point seven percent after its u.s. joint venture verizon said it would pay a dividend. now look here in moscow the market's. gains with the r.t.s. down over a percent this our market players follow the global uncertainty over the u.s.

. and looking at some individual moves on the buy six all majors are among the main losers amid weaker crude talking after losing over two and a half percent this hour backing socks are also under pressure with bank of moscow down zero point three percent the company reported a two and a half billion dollar net loss last year but bucking the trend is powered generator into a rout with skating almost four percent at this hour. that's all the business news we have this hour you can always go online about our. business for more and to stay with us for the headlines.

welcome to the. what makes a big splash in the world of high tech business what turns events science into i can't she products they don't understand oh he's this guy he followed russian innovators to easy majors and brought it in their big breakthrough back home spotlight on start up on technology update here and. we've got the future covered.

it's all balls now in her monster this is an american spigots credits in china lashes out at washington for putting the global economy at risk when not reaching agreements to keep its debts can check. a wall so back to investigation concludes the made response from the team for the presidential plane crash in western russia lies with the polish crew with that russian air traffic controllers will also be to blame. libyan rebels more than a come down now as to his family's alleged ties to the donkey's regime will called

into question. now naysay promises extra chips for the border between serbia and kosovo following a bonnet outbreak save a controversial export ban. people are valid now is another round of his debates on a cross talk with a look at the role of jesus christ in a free market economy where jesus jeans christian wrong and even jesus pills are available that's next here on aussie. wealthy british scientists like. dr. margetts weiner scandal. find out what's really happening to the global economy in these kinds of reports on r.t. . and you can.

follow in welcome to cross talk i'm peter lavelle does the lord need marketing some are selling christian rock jesus jeans and even jesus pills is this the right way to promote christianity in the twenty first century or is it a new profitable me for those who have nothing to do with faith. and you can. discuss christian marketing i'm joined by you and getting in london he is director of marketing and communications at the u.n. dating marketing consultancy and in columbus we go to philip ross he's a pastor and author and another member of our cross talk team yell on the hunger are a gentleman cross talk rules in effect that means you can jump in any time you want if.