a few years leading to serious consequences in just about every corner by to myal wallerstein who's a senior sociology scholar at yale university thinks that their real economic crash is yet to come that's now interview that's next here on our team. thank you very much for being with us today. so exactly two years ago you told me that the real economic crash is still a couple down the line is that with us right now i know it's a year or two still down the line but it's but it's very clearly to me what was the biggest trouble at this point the united states. just the rest of the world.

actually everybody's in trouble but the united states is clearly in trouble the european union is in trouble i think it's in less trouble than the united states but it's in trouble but i eat i think also that the so-called newly emerging countries or the emergence countries brazil india china are also in trouble and so i i don't see anybody who isn't in trouble so like you're saying the global financial system clearly broken what is wrong with the modern capitalism of that's a very long story but i mean modern capitalism has in my view but that's a long story reach the end of its rope. it cannot survive as a system and what we are seeing is the structural crisis of the system so the structural crisis goes on for a long time it really started in my view more or less in the one nine hundred seventy s. that go on for another twenty thirty forty years it's not a crisis of

a year or a short moment it's a major structural unfolding of a system and we're in transition to another system and in fact the real political struggle that's going on in the world though most people refuse to recognize. it's not about capitalism should we have it or should we. should replace it. and of course you can have two very different kinds of views on what should replace it. well i would like a more relatively democratic more relative be egalitarian world that's one view we've never had that history of the world. it's possible. that you have a very. polarizing exploitive system doesn't have to be capitalism capitalism is that but you can do that in many other ways some of which may be for worse than capitalism so that's the way i see

because of the political struggle that's technically called apply for a cation. of a system so bifurcation. capitalism system is directly linked. yes its roots are in many ways the impossibility of continuing the basic principle of capitalism which is. ceaseless accumulation of capital. and that's the whole point of capitalism as a system and it's it's worked in some ways marvelously well for five hundred years it's been a extremely successful system and what it has tried to do but it has undone itself as all systems do but it's a dangerous. dangerous. if you mean is it dangerous to you and to me yes it's extremely dangerous to you and to me. in

fact. one of my books i called it hell on earth it's a system in which everything is relatively in short term unpredictable and people can live with predictability in the short run their lives. predictability in the long run we cannot trust but if you don't know what's going to happen the next day or the next year then you don't know what to do and you get paralyzed and that's basically what we're seeing in the world economy right now is a paralysis nobody's investing really because they're not sure that three years from now they'll get their money back so when you're not sure three years from now you get your money back you don't invest and if you don't invest that makes the situation even worse but people don't feel they don't have much choice and they're right they don't have too much choice the options are few there like you said we are and. we have no choice but to be in it but do you see

a way out well it's not a question of a way out we obviously what happens in the bifurcation at some point the thing tilts and we get into a new relatively stable situation the crisis is over we're in a new system but we don't know which one it will be it's very optimistic in the sense that it matters what you and i do in a way that in the normal workings of a system it doesn't matter in the normal workings of the system right you put a lot of energy and everything in the end comes back. in russia or something called the russian revolution one thousand nine hundred seventeen there was a revolution it was in enormous social laffer right incredible numbers of people put energy into it tried to support it in x. and y. way they did incredible things and in the end eighty years later you see

where is russia in relative to where it was in one thousand nine hundred thirteen in many ways it's back to where it was. not that far from. where it was same thing could be said of the french revolution enormous social effort and after fifty years if it were they more than a sort of ripple on a continuous line. change within their country so what does that say that the importance of the personal choice that you're talking about that you and well that point is the situation changes when you get into the structural crisis instead of a lot of effort. making a small amount of change basically a little effort can make an enormous amount of change because the whole thing is so unstable so volatile that every little effort pushes it in one

direction or another so i sometimes say this is the historic. of the old greek philosophical distinction between determinism and free will when the system is relatively stable it's a relatively determined a system in which we have relatively little replay when it's all unstable when it's going to structural crisis three will comes into the picture that is to say your action and my action really matter in a way that. they didn't for five hundred years that that's my basic point now that you always karl marx as one of your biggest influences do you think you still as relevant in twenty first century. look karl marx was a great great thinker of the nineteenth century he had all the virtues of his

insights and all the limitations of being a man of the nineteenth century one of his great limitations was that he was too much of a classical economist. he was too much of a determinist and he didn't see the fact that systems he did see that systems come to an end but he thought they came to an end as a result. of process of conscious revolution and i'm suggesting they come to an end because of internal contradictions. and everyone is a prisoner of their time there's no question of that so he's a prisoner of the fact that he was a nineteenth century think i'm a prisoner of the twentieth century twenty first century. i was formed i mean i was born in one nine hundred thirty five seventy years in the twentieth

century i feel that i'm a product of the twentieth century and that's probably reveals itself in the limitations of. how much. those two centuries different that translate it. really that different well i think yes i think the. real turning point was. nine hundred seventy. first of all that bores the world revolution of one nine hundred sixty eight a not. a not an important event in fact i think of. the most significant event of the twentieth century more important than the russian revolution more important than the us coming becoming the hadronic power in one thousand nine hundred five where there are. nine hundred sixty eight broke the liberal allusion that was. governing the world system.

in fact the bifurcation we're coming into and we have been living in the wake of nine hundred sixty eight ever since everywhere are you saying where ever since ten . on the brink of sixty eight does that have anything to do with the fact that. people often say. has become more violent. i think what it is. is a sense of discomfort perhaps not measuring the actual reality of discomfort but there's no question people were relatively call. in one thousand nine hundred fifty s. or sixty's in a way that they're not calm about it today everybody is fearful. in many ways they have right to be fearful but you would still think that with all the progress in technology. that we live to see more civilized there will be

no more wars what does it say about human nature it says about human nature of the . people who are ready to be violent and there are many many circumstances i mean. and are we more civilized i don't know that we are more civilized. that's a kind of dubious concept in fact first of all the civilized cause more trouble than the civilized the civilized try to destroy the barbarians at the barbarians are trying to destroy the civilized the civilized define the barbarians of the others all the barbarians we are the civilized this is what we're seeing right now trying to take. all around the world we've been seeing that for five hundred years . thank you very much for this interview ok.

our hero. we hear it because our country out. god promised them this milind belongs to our. will if they are still going to be thinking the. gold chosen people will not believe that god is real estate they look at the standards just for you guys and disguised as it is for you. to understand this is the. proof of my then.

stopped. wealthy british soil it's time to. market. why no one should really happening to the global economy with much stronger no holds barred look at the global financial headlines to conjure reports. uproar spreads across the

united states as thousands of angry americans demand the corporate lobby we held accountable for the economic downturn ignored by the mass media protesters in new york and other cities claim civil disobedience is all they have to make their voices heard. reese's future hangs by a thread as eurozone ministers delay the next release of funds desperately needed to keep the country clear of bankruptcy the decision comes after athens announced it would not be able to meet its debt reducing targets by passing tough austerity measures. last from the glitz and glamour of high fashion catwalks to abuse of child labor human rights groups and blow the whistle on its back to stands cotton industry which earned the government in a fortune. i'll be back with more updates about fifteen minutes before that they will take a look at what's happening in sports with andrew. you're

watching the spall company this is what we've got to follow the leads the russian charge of the china open water push right down the road excesses an early exit. plus back in strong could be a do you get this first call up to the rusher for pulte market currency called zoom back in the year i qualified. from the rugby world cup to form a while so i'm taking the joneses then you. will start there with the tennis by russia's world number three. is just getting here china campaign underway she's up against a lot of from the czech republic they are just starting the first set that as of one of the over shouldn't have any problems really she's fresh bind the second round while her opponent had to get through the top three set against another russian ninety for try it out on monday russians are in action today and see part

of it is in the set there against manager is a marchioness sanchez and a bit later on the richter lanka face u.s. open champion sam stosur for a second time in two weeks after beating this friday in tokyo there was a scare for the women's number one can i wasn't asking her opening match the defending champion was up against the in c.d.t at least she had the world number forty eight despite some solid try to seal the first set six three was the on the back with a vengeance in the second to take it to love again made to work in the decider before putting in a love with seventy five. people on spot on a business about the russian admitting it's been a bad season after crashing out to an advantage in the second round also bowing out was italy's francesco. schiavone was shell shocked by some of the many get involved . now in the men's draw world number one because our migraine was taking on russia

miquel usually he's played in the spaniard in all three of their previous meetings and they are just starting their latest encounter on the other big name playing today joe will bring to song he faces told gary it's up and coming twenty year old could have gotten to meet. him all the former men's champion andy roddick stumbled at his first hurdle in beijing the american sixty going out to lesser known kevin anderson of south africa anderson smashed aces in some clash with these two fury a short tempered and that of sorts roddick six four seven five percent a final score in this one. you know it's a huge win for me it's. expense such a household name so you know since i was just a small kid and you know is that there is you know he would say some saw his twilight of his career but you know he's such a tough competitor and with the serve and stuff. it's really tough to read a poem this is my third time this year and you know it's gotten better me twice now so it's you know feels really good to you know having beat somebody as good as and

now in other news to be a new face in the russia squad for their two remaining euro two thousand and twelve qualifies rubin strike if not immediate doune has received his maiden call up to fill the void left by the injured alexander courage of his ankle at the weekend twenty three year old the dude has scored three goals in twenty games since the start of the domestic season while coach to caprica has once again overlooked former russian star dimitri the start of his time champions i.x. with a go after showing for dan hard last season the leaders of russia go to survive here on friday before hosting and there were four days later. the persian gulf is ruled out for a couple of weeks he was in the walls and the tea to draw moscow at the weekend that not suffered a note to his face a mouse or spotlights nicholas put out is sent off because you called then went on to score for senate before picking up an ankle injury. meanwhile russian players have back for me while i was flying kingsley jones to become their new head coach

the rugby team arrived back in moscow yesterday after failing to get into the knockout stages jones is currently detained assistant head coach and is being tipped to replace nick he stepped down as head coach after their last great game you got yourself says his departure was planned even before the tournament it ended had started rather and hinted jones was the man to replace it. you have this book because i made the decision to quit the team before the tournament so it's not connected with no results at the world cup i've been spearheading the team for three years now and the side needs. new inspiration and new challenges probably appointing an experience for a new will be the right choice it's a gel stays i think you get a head coach position. if he's offered that i think you could you could steal a share and give a lot to this team i think it is a. top class professional. i'm sure you get a really good job as i can tell you know what the costs are now the north caucuses

has long established itself as a supplier of russia's world and then pick champions particularly in wrestling and boxing but traditional sports are also held in high regard there is no call good at shell for polish from the festival and the sudden nineteen's. i aim to become a tradition in itself the caucuses games offered quite a selection of traditional sports to cheer on for the second year running hardly any of them stand a chance of global olympic recognition but that was never de gea. preserving the ancient culture as well as bringing people together is what this competition is all about. this is i'm sure a festival the coaxes games will become recognized among this country's big tournament it's events like these that promote respect and friendship between the peoples of the multi national country which is russia the presidential envoy to the

region also sad to tell him pick sports will feature in the games next year well with or without them there was still playing to affection to keep their audiences and to taint the tug of war clearly the crowd favorite was. still trace in old beach with a hint of cheating or the ever popular beltran sling i which is not dissimilar to the more established record holder style the fans and the athletes alike enjoying the process but it is it's going to put it i really love big. the competition here is high and the spirit is great i wish we had more events like this as you know. and it turns out these games are not just for fun or the joy of taking part some plan to use them as a springboard to the start and much of. the new season is about to start just the championship of the republic than the national one i want to improve my sporting

career. develop a new styles is important so probably more sensual is the legacy the games will leave behind as in the wake of the festival money has been promised to build a complex for more conventional sports in the region so a new generation can grow up to succeed the two hundred and fifty local athletes how currently vying to compete for russia at the london olympics were held rituals . and finally with the internationals fast approaching domestic football does take a break with the nominal scale in the ascendancy on the i voted in as price made them to second in the russian premier league plus the rest of the weekend strikes and i would he's got all. i. i.

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length . leg . length leg. length. that brings the end of the sports back into ass time with my.

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really you believe just signed stamps are going to some rooms. we've got the future covered.

state. uproar spreads across the united states as thousands of angry americans demand the corporate lobby be held accountable for the country's economic downturn . in greece hangs in the balance as eurozone ministers delay the next release of bailout funds desperately needed to keep the country clear of bankruptcy. laws from the glitz and glamour of high fashion catwalks to abuse of child labor human rights groups blow the whistle on his back his stance cotton industry which earns the government a fortune. and in business the kind of economic uncertainty forced investors just stay away from risky assets and russian people are preparing for the worse throwing me for the details.