these are the images the world has been seeing from the streets of canada. corporation's real. rock on the loan to show the real headlines with none of the mercy let me live in washington d.c. now it's not going to take a look at the global response to the euro zone's debt crisis five central banks including the federal reserve announced a bill increase lending but is it going to be enough and what does it mean for the u.s. economy when more dollars will start flowing worldwide then house speaker john boehner had some very tough words for the president's jobs plan yesterday signaling again that there will be no compromise so what is it going to take to make job creation a priority for our politicians and is there any chance for

a third party candidate to play upon the public's bipartisan discontent that a new book shows of the d.h. at spending here at home has not been effective in terms of costs versus terrorist threats foiled we're going to break down some of those numbers and we have all of that for you tonight and more including a dose of happy hour but first let's take a look at what the mainstream media has decided to me. you know i'm beginning to wonder why the mainstream media even bothers calling itself news anymore sure they're going to covering gossip he said she said on capitol hill but getting into the fundamentals of the economy wars poverty in america forget about it now this is become especially clear in the last few days as we've seen the cable networks the supposedly most trusted names in news forward leaning fair and balanced channels turning to entertainment tonight here's a small example of what i'm talking about. two period dramas will slug it out sunday night at the emmys mad man in boardwalk empire and look out for

a modern family everyone's favorite show it seems is our a.t.l. and superstar nancy grace full yes she's known as a bulldog in the courtroom a warning dance practice i'm minding my own business i'm trying to. there's something for everyone at a theater near you this weekend sarah jessica parker returns to the big screen in i don't know how she does it but ninety ninety four disney classic the lion king it's being rereleased in three d. this time. really count down to the emmys who's on dancing with the stars what movies are being released to we have entire channels dedicated to covering entertainment we don't need three more especially not when these are supposed to be the channels that offer you news why would they even go into this business if they just want to transform their broadcasts into hollywood central you know it's really just pathetic it's embarrassing it's depressing but if they're going to play that game i have a suggestion for them why don't you talk about the close ties between hollywood and

the pentagon you know something that we've documented before for you right here on this show it's something that we've spoken to david sirota about who looked at some of the biggest blockbusters of the one nine hundred eighty s. movies like top gun and were deals they had to strike to use the military's fancy equipment on the air forces jets he calls it government subsidized propaganda it's also something that wired danger reported on today when they discovered that the cia just has a pile of scripts laying around at all times to get the hollywood whenever they need a good p.r. boost and want to get people back on their side just think about it think about some of the most prolific anti-war films of the last century the deer hunter apocalypse now full metal jacket those were incredible movies they were dark they'd sammon the psyche of the soldiers the politics of war but we're the same movies for our generation and we don't see that because now we see glitz and glam we see big explosions past paced action scenes big guns and big tanks everything is grandiose except for the debts you know they all paid a positive light on some of the great atrocities committed in our names by our

military by our cia because when the studios want to make movies and they want to read the stuff from the pentagon well they have to make some concessions they have to allow their scripts to be changed they have to pay the military in a positive light and it's an exchange fagots hollywood doesn't really care as long as they make a blockbuster and it brings in the dough in the long run you know we even see disappointing movies that aren't about war or at least not real wars or the studios take the government money the sponsorship on exchange for having to do just a little bit of promotion take a partnership for example between the army and the most recent x.-men movie. ordinary people just go for the extraordinary. to. see.

that there's army strong. so there you have it another government agency working very closely with another industry giving them sponsorship giving them weapons and exchanging making sure that only a certain type of content makes it out of the gates now the mainstream media wants to go all hollywood how about they take a look at that but they won't they're just going to send reporters to the red carpet to talk about who's wearing what who is dancing with who without even really looking at the culture examining what it says about us today like i said apparently they'd rather be the new entertainment channels and miss the news miss the commentary and the analysis any of the debt. looks like the whole world is trying to save the eurozone or at least get it to contain its sovereign debt crisis earlier this week reported that the brics might

be playing a role something that they'll discuss at a meeting in washington next week yesterday by central banks including the federal reserve announced that they'd be providing an unlimited globe dollars to other banks in the form of three month loans for the coordinator here is going to be the european central bank which in turn is going to extend those dollar loans to banks in nations within the euro zone banks that increasingly have found it hard to get cash as investors worry about their health i.m.f. director christine lagarde has called this coordinated move exactly what is needed but how does pumping more dollars into the economy measure up to what america needs joining me from our studio in los angeles is no me friends author of it takes a village and her latest book a black. which comes out next month i want to thank you so much for joining us tonight and for starters i want to get your take on this move by the central banks here using the swap lines that were set up after the original crash in two thousand and eight to make these short term loans do you agree with christine legarde is this exactly what's needed or not quite. this is exactly what has been shown not to work which is the reason we're in this situation

right now those swap lines were put together in two thousand and eight to two in two thousand and nine to basically fund the banking system a global banking system that was severely destructive to itself and to the rest of the world and continues to be so the only difference is that where the bulk of that destruction was seen to be first the united states back then now we're seeing that actually it was more global but it was global but then a lot of people noted to begin with and the european crisis of an actual crisis part two was. is evidence of that so allowing banks to have more cheap money printing more money to deflate the value of currency inflate the value of actually what loans should be standing for in order for those banks to appear solvent because they are not as solvent because what they have done up until this point is either borrow against or create those bad assets or buy those bad assets from each

other lot of which proliferated from the united states bank globally and we were just in another phase of that so throwing money at the money centers and assuming that we're going to have a different outcome because of that that we've already had is not a good think it's ludicrous really well it's not like we haven't seen the federal reserve do this before and think that this is good policy but how do you think of their justifying it this time around especially if you look at where the u.s. economy is right now the idea being even more dollars into the system it's only going to make the value of our dollar go down and that's not going to help. now it's going to make the value of the dollar go down it's going to make the system less inherently stable and we haven't gotten out of the last trillion dollar sets of subsidies that were put out by the federal reserve by the treasury department to float the u.s. banking system so the only thing we're doing is really spreading a bad policy globally in the second. isn't it when we've already seen that that

hasn't helped main street economies it hasn't helped populations grow their jobs it hasn't helped with the housing market or people's ability to finance or refinancing mortgages to begin with throughout the world it hasn't really helped value to individuals throughout the world and now we're looking at that same policy in a different phase as. as being declared useful. by europe it doesn't make any sense do you think that this might be some kind of power play by the federal reserve as well though to try to you know solidify or at least keep the u.s. dollar as the world's reserve currency. well the federal reserve has this idea in its own head apparently that somehow we've averted a financial crisis and that we're more stable as as a banking economy really really more stable than they were before the fed had to pump all these trillions of dollars of cheap loans into the banking system to begin with so in the fed's mind and ben bernanke he's world they're actually created

a better situation more stable situation for the united states bank and now they're they're helping the rest of the world when in fact all they're doing is yes they're printing money they're deflating the dollar they're encouraging but by short term lending a situation that is inherently unstable rather than taking a look at how these banks are really operating it what assets are really there and what potential frauds have been cause they what things are truly valued and being realistic about a situation they did the same thing here they let banks continue to remain big to get bigger to keep bad assets to continue to manufacture bad assets without looking at the problem pretending that throwing all of this money deflating the dollar was somehow going to be helpful and they have decided that it was even though it hasn't been and now they're basically doing the same thing so they are acting like the global hero when in fact all they are doing is creating more of a global catastrophe and you know of course one of the things too that we've spoken

about on this show is that i don't think that americans are quite paying enough attention to what's going on in the euro zone right now i don't think that there is you know enough comprehension that if indeed let's say you know greece defaults or other countries default their banks do fall it's going to affect us and that's of course one of the worries is how many of those toxic loans are talks of gas that's our banks from the european banks do you think that it's it would be shocking to find out that it's much worse than anyone wants to imply. i think it shouldn't be shocking but i think when we really see the fallout which we haven't seen in its totality of this this financial fraud that proliferated the toxic assets that were manufactured here that were sold through europe we will we will some people will be surprised and some people will say that's what we've been trying to tell you there are there are banks there are small towns throughout europe that are suffering because their little municipalities invested twenty million here or twenty million there in toxic assets that were polled by citi group or by j.p.

morgan chase or or what have you that are still in litigation or hoping to get to litigation to settle these things so so so they're there and meanwhile their towns are being devastated and that money can't be used to grow their own individual economies this is happening throughout europe and we are linked in that manner now what do you think to this proposal or at least for now might just be rumors of the brics perhaps bailing out the eurozone this of course initially was something that was thrown out in brazil and next week of course they'll all be meeting here in washington d.c. for the i.m.f. meetings but. is that a really odd way of looking at things and thinking of these of these poor countries having to bail out the rich. it's it's not even that there yes it is odd to think that other countries have to come to the aid of the banking systems of the of the richer countries that bet wrong that gambled wrong in the deflated the value of of the general economy and not just their countries but in the peripheral countries

and so it's kind of ludicrous to assume that this can happen from the outside and what needs to happen for for all the countries that are suffering is that there has to start being a realization that if there needs to be default on debt there needs to be default on the countries need to grow their local economies in such a way that it makes sense because only with only through that will we actually have productive growth and jobs and create a sustainable situation this idea of flowing money back and forth to plug the holes in really what was a create and lend and borrow against toxic asset pyramid that was global and remains global remains not entirely honestly value throughout the world is really a problem now of course though you know if we go by that logic if something needs to default it needs to fall you know the banks that are too big to fail can be too big to fail they need to fail we're going to see even more fallout it's going to be even worse for the economy even worse the recession is going to definitely double

the point if you don't already think that it's there and so you know i just wonder what you think of that's going to look like for example new york mayor michael bloomberg today was saying that you know if the economy doesn't get better if we don't get unemployment handled here in the u.s. then we're going to start seeing riots the same way that you saw in cairo do you think about might happen. i think there's still a. lack of full understanding as to how what we're discussing with respect to the banking system and throwing money at it is really a culprit to the morning with the economy for everybody else is really keeping jobs from being created and creating situation actually were jobs are being thrown out and lost and cut from small businesses and medium sized businesses the reality is these these banks by not letting them filled by funneling subsidies into them by accepting this argument that this is what we need to do to have a more stable economy all that does is perpetuate a problem where banks get funding cheaply to continue to do what they're doing and

they don't provide the funding on word to individuals so they don't help people refinance their mortgages they aren't giving in their historically low levels of giving loans to small businesses or to organizations that can actually hire people and provide productive growth to the economy the money is sitting at the banks that isn't being widespread not here not in europe that's the problem so the logic of bailing them out of giving them more money to sort of compensate for the fact that they're sitting on it to begin with and all they're doing is plugging the holes of their own bad decisions is really not the way to go the way to go is if there is to be money given into a private banking system there has to be strong strings attached to that money so that it is used to onward lend and create jobs and finance the growth of small businesses and adding staff instead of cutting staff so that it can be used to help people refinance loans and mortgages even if it be student loans so that there's a way to create economic stability at the bottom level of the mainstream of the

population and citizenship level rather than assuming that funneling it in from the top level of these international goliath's is going to make a difference to the rest of the economic community the rest of the population and. in the meantime these international goliath's do allow this bailout culture to prevail right now if you keep watching of course what happens there nomi thanks so much for joining us tonight. thank you. now if unemployment nine point one percent and brain bank profits rebounding nicely people are fed up and they want to make it known that of our viewers have been drawing our attention to a protest is set to start taking place this weekend to shed a light on the tight knit bond between washington d.c. and wall street and of course we're going in quality here in the united states a protest is called occupy wall street it's called on twenty thousand people to come to the financial district and set up tents chairs kitchens anything else that they need to create a barricade plan occupy an area for a few months all for the sake of grabbing dc's attention and putting wall street

firms in the spotlight now anonymous is also on board this movement. this is him and violent protest we do not encourage violence in any way the abuse and corruption of corporations and banks and governments and here. the hacktivist of also created posters hope protesters determine where they can protest peacefully without any confrontation from the cops and you can imagine the wall street banks aren't making any comments about occupy wall street but mayor michael bloomberg welcomes the activists this weekend saying people have a right to protest and if they want to protest we'll be happy to make sure they have locations to do it as long as they do it where other people's rights are respected this is a place where people can speak their mind and that's what makes new york new york now these protests evolved out of a movement called we are the ninety nine percent and that's a focus on those who are suffering whether it be who those who are unemployed people who are working three jobs just to survive i want to go if you have to highlight the one percent of our country that happens to be doing incredibly well

we're certainly excluded include the executives at the big banks now the planned protest is getting a lot of attention on the web and the hashtags occupy wall street is trending they're even pictures popping up on social media sites showing how people started gathering in new york city so it can be interesting to see if the protesters call for justice or actually be hurt and more importantly if that ninety nine percent actually shows up in person to have their message heard i think this could be a good test of whether that activism that you feel on line really can result in action in real life and where you make sure to update you on the turnout next week . still ahead tonight obama is out pushing for his jobs bill while the g.o.p. says the plan is going nowhere in congress that's right we're going to ask if washington is capable of coming together to solve a problem or even if nothing is going to get done before the next election that is going up. into that only military mechanisms if you don't work out to bring justice and accountability. 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. you know sometimes you see a story and it seems so sorely sleep you think you understand it and then you glimpse something else here see some other part of it and realize that everything is ok and you don't i'm trying hard look at the big picture. let's not forget that we had an apartheid regime.

i think even one well. whatever government says they are keeping safe get ready because if you give them your freedom. for.

well it doesn't look like the president's jobs bill is going to go very far despite all that has the bill cheering that we've been hearing from the ground same goes with the president's call for more tax increases to come out of congressional supercommittee sound like we really expected we could have some broad bipartisan consensus but after the speech that john boehner gave the economic club of washington yesterday it's pretty clear that compromise of any sort is not going to come from the republican party this by calling for politicians of all stripes to drop the my way or the highway approach boehner then said that tax increases are completely off the table he also called the president's jobs plan a poor substitute for the poor drop growth policies that are needed to remove barriers to job creation in america ouch not all starting to make you wonder if anything is going to be agreed upon in the next election but how voters can react to the lack of urgency that we're seeing here in washington d.c. to discuss this with me is changing for our senior communications strategist with

new media strategies thanks so much for joining us tonight there's romans always a pleasure. what do you say here i mean if we look at all the back and forth with john boehner saying if you just get this feeling that absolutely nothing is going to happen in this town and nothing is going to be agreed upon nothing is going to pass until we get over to the next election well in many ways a kind of think it's a good thing if you think we're going to sit around. at this point i think of the government's done so many things that we might want to try the private sector for a bit but in terms of a sector isn't acting right although i did read that i did factor is just sitting on cash and it's a very uncertainty created by the government is certainly hoping things along in that regard but i do understand that we do need to get some cuts through government does need to get smaller that we need to pass things first to get there right but yeah it doesn't seem like president obama's wanted to me and i think that the signal to this i think the signal to this is not necessarily we're being responded to the jobs bill but the presentation that the president gave and i don't mean that he gets there is something wrong with him giving the speech was a bit problematic because you saw that when he came out and he said i have this big

proposal there were two parts of it that were probably first republicans hadn't seen this proposal prior to a speech that well you know that is going to be a little bit of on the political side the second day here is coming out just a proposal to give a speech to talk about what his ideas are right everybody sits around and says if this president doesn't do it now that he's meeting from behind a screen on scene of action enough leadership or whatever let him come out and lead don't complain about it except speed speaking is not exactly we getting and this is this gets kind of into the second part which is that we didn't see what the proposal was until a few days later so he gives an entire speech saying pass this bill and then we're like well what's the bill and then they go all i'll get to it now so let's talk about what's happening now because what we did see is so after the president released the bill after republicans had a chance to look at the language we only saw some hopes for what might be compromise people like john thune were saying if you think there are some things that need to be amended here some changes and now suddenly boom it's like the language has completely changed and john thune for example completely changed his rhetoric and now says no dice we can't do it also i'm just wondering you know when

they told they all had sat down and had a meeting and everyone said. sorry whatever you said last week we decided one hundred percent we're not going with this is that the tea party that's pulling strings i think it's a great thing when you have a congressman and it shows their willingness to compromise that they at the very beginning at the outset they said this looks good we're going to look into it we're going to take some time and in four days later they continue looking and saying this is there's some problems here and in fact i kind of wish that that was the take it happened with health care that we had more time to give it consideration the specifics of the bill consideration because you know i mean you could be for the health care bill and know that there are huge problems with only a consequence of it having been passed so quickly oh there you know of course i mean a lot of so many of our problems come because often the legislation of the congress members don't even read it right it's all about having to brush it all becomes very political and just pushing it through but that's what people are so frustrated with in america right if you look at the fact that only twelve percent actually approve of the job that congress is doing if you look at the fact that president obama's poll numbers are plummeting i'm just wondering how much longer americans consider

around and wait because on one hand you know you and i are talking at the fact that we want them to read these bills they want them to actually thoughtfully look at the legislation but you can't just sit around and really your thumbs and just do the he said she said when you're pointing all the time there needs to be some sense of urgency when forty six million people are living in poverty well i think that we saw that kind of urgency in the first two years for a president both houses of congress you know it was a super majority and he was able to get across the things that he thought for priority and so the first thing he does is the stimulus the second thing he does is health care those are the things that you consider to be the most important things and neither of them worked out very well i mean there are studies that show that you know we actually spent more money we could have just handed people cash instead of doing the stimulus the way that we did but what's happening now because the republicans decided to sweep of course you know sweeping house we decided to pull any american you know we had we had this big election what republicans promise is that we're going to focus on what really matters we have our priorities in line and we're going to focus on jobs we haven't seen anything done to actually focus on job

creation quite the opposite we've just seen a lot of big. during of the debt deal we all miss our country default on its debt but still no jobs well i mean i think that a lot of the discussion was actually very much focused on how are we going to inspire the private sector to create more jobs and one way we're going to do it is by making sure that they don't worry about their taxes getting raised i mean people are not are not start are not not hiring because they're worried that their taxes might be lowered you know they're not hiring because they're worried that you know their taxes might be heights and i think that that's a legitimate concern especially coming from president disconsolate talking about you know fixing the revenue flow but it's not happening right and i for publicans out the majority then what are businesses so worried about they see the republicans say absolutely not we're never going to compromise we're not going to raise any taxes and you know if you talk about the tax problem too clearly we see some of the largest corporations and largest companies in this country don't even pay any taxes so what they're really trying to do at least just even it out get people to pay their fair share so we have revenue as well as cuts that are going to come because austerity is not working if you look over at your well i think

a big part of why some companies aren't paying their fair share of taxes especially this year is because they've lost so much business in the first place i mean that's a huge there's a huge component but then you also have to consider that you know i mean if you talk about exxon if you talk about g.e. they haven't lost that much business they've taken a lot of jobs overseas they're doing fine they're raking in huge profits and just using all of their lawyers that they get to pay for i mean you get out of paying taxes man if g.e. and exxon mobil could make up the majority of what we own our debt i think that would be a very important discussion to have as a turning point examples well funded might be examples but they don't make up the majority of what we're doing here which is that we have a budget that is out of control we do have a government that's much too large and we need to do sums of actual spending cuts we actually need to drill down into the specifics of you know areas that maybe we shouldn't be doing things maybe in privatization whatever but instead of course they were just not looking at the right areas if you ask me because there's tons of ways to blow in the military budget for example defense budget that we point out all the time here on this show the ansted were going for social programs that people really need now are running out of time so i just want to ask you quickly to

write that there is this anger bipartisan anger. now america just hates their politicians i really get that impression and so now we're coming out for a new presidential election maybe mitt romney maybe rick perry ron paul makes people are upset with obama do you think that this could be one of those elections where there could be another third party candidate there could be another ross perot out there i think i think there's a there's a real potential for another ross perot and i think that's a real threat i think it's i think it's a bad idea because i mean ultimately if you genuinely believe in advancing an idea or a cause you don't you don't fumble in order to cause someone else to fumble that it's pretty much on your side in order just to get to where you were electing the same old schmucks to you know try to well i mean do with their way our system is based on compromise right i mean that's that's how we reach this consensus is that we're not seeing it all well i mean that's why we have an election every two years i mean . the republicans for the house they came close to getting to set up and it was to send a message to the president please change the course that you're on or upset about

this and people kept on trying to spin it as something other than a tea party victory but ultimately you had tea party candidates took over took even republicans so it was a clear sign that people were unhappy both with the moderate republicans that are too willing to sell on taxes and big big budget and obama and so i think we're getting now to a point where the president is going to have to have to face the consequences for his own actions i think we're going to the point where everyone is going to have to face the consequences but there's a lot of anger and you know we'll see we'll see if there will be a reckoning and thanks so much for joining us thank you. and phil ahead tonight he claims that donald trump is going to be making maker in the twenty presidential race a person. and defense spending. on the shell coming up at the top of the co-author of the book kerry security and money balancing the risks benefits and costs of homeland security he joins us in a minute to discuss our spending. into the.