but the worst could be yet to come next we speak to senior says scholar at yale university emmanuel wallerstein who believes the real crash will take place the next few years that interview's next. 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 of years 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. but 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 merge and countries brazil india china are also in trouble so 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 modern capitalism 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. it will go on for another twenty thirty forty years it's not a crisis of a year or of 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 not should replace it. of course you can have two very different kinds of views should replace it. well i would like a more relatively democratic more relative big terry and 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

of the political struggle that's technically called apply for a cation. of a system so. they capitalistic system is directly linked to the 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. and it's an enormously dangerous what are the pros and cons 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 unpredictability in the short run their lives. predictability in the long run because not just that 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 on 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 masters 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 and 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. incredible numbers of people put energy into it try 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 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. were they more than a sort of ripple on a continuous line of. 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 whole greek philosophical distinction between determinism and free will when the system is relatively stable it's a relatively determinist system in which we have relatively little free play when it's unstable or when it's going into structural crisis free 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've always dreamed karl marx as one of your biggest influences do you think he's 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 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 in one thousand nine hundred three 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. different that translate it. really that different well i think i think the. real turning point was. nine hundred seventy. first of all the world revolution of one nine hundred sixty eight. on not on important events 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. power in one thousand nine hundred five where there are. nine hundred sixty eight broke. up 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 everywhere are you saying where ever since ten. on the brink of sixty eight is that hard thing to deal with the fact that. people often say for the last two decades has become more violent and i think what it is it is a sense of discomfort perhaps not measuring the actual reality of discomfort but there's no question people were relatively call. 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 that 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 which are to destroy civilized the civilized define the barbarians of the others all the barbarians we are the civilized this is what we're seeing right now west trying to take. all around the world we've been seeing that for five hundred years . thank you very much for this interview ok.

even if this secret. is the soon. life. whether it is a put just press. or a shamanistic mature. crossroads of two really chums. safe is strong in spirit is hard. to. argue. we hear it because our country outs that. god promised them this milind belongs to our. will if they are still going to be thinking. and gone chosen people will not believe that god is real estate say look at this that is this for you guys and this

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soul is on our t.v. protests against wall street and corporate greed go nationwide in the u.s. and despite hundreds of arrests demonstrators say the mainstream media is ignoring the growing. fears also finance ministers get off of the system of who shall bailout loan for greece said medicaid don't need deficit deadlines and he's already claimed the austerity measures imposed by the government are untouchable and this transitional leaders name a new cabinet to govern the country that's fully secure to gadhafi troops intended to bomb the colonel's besieged. which the red cross is suffering from a humanitarian crisis. i'll have more of those stories in fifteen minutes but for now all the latest in sports of cake.

well i thank you for watching the sports updates and to the headlines. confidence suspects take out the guys ok european qualifying as the russians are. fighting a cocktail in slovakia. while high were crowned n.b.a. star i'm very curious like as signs a three year contract to take him to moscow cyprus car. on a russian charge bills all over spearheads the strong russian contingent in beijing talks in how long does the asking also advances. but first a football and russia have started preparing for their two remaining year a twenty twelve qualifiers at slovakia on friday and then at home to under a four days later well coached together guy has a few issues with his squad which makes for good measure missed the latest training session to bruising he picked up an ingenue one they'll defeat at home to look on t.v. on sunday while two new faces have appeared in the squad for the green strikeout bloody me a receipt i made in

a call off the record left light intensity and it's on the third record do not know when the alexander side could also make his pal offer to make sure to win if he was ruled out well despite those key changes advocate says he still hasn't conform to the starting eleven but he's brimming with confidence. to friday still if you can happen now you have something in mind but in training or whatever every can have you still do it right decision is set for today you have it in the mind and tomorrow is going to change to is you cure but still if you can happen away games we did not lose a game so that must give us a lot of confidence to the players believe that we can do it. that's a basketball and a decade of playing in the utah jazz in the n.b.a. and rushing forward under a cure lanka is returning to moscow to continue his career after signing a three year contract with the thirty year old whose nickname is a k forty seven became a free agent at the end of last season but with the current lockout threatened to stop at the start of the new n.b.a.

season he's gone back to the club he played for as a teenager and can return to america if the pay dispute is resolved the army men have won the russian league for the last nine years and booker like it has promised to give all the money in russia his children's charity foundation other stars who sign tempi contract such as dallas mavericks for rudy fernandez at the great outdoors so brothers power and mark will practice with barcelona like euro lanka is happy to have held its first training session existe. the n.b.a. lockout has given me a unique chance to play in russia again for my france relatives and friends and i can do it well i'm still at the peak of my family i'm not in the twilight of my career and i'm really happy dr archer. ten is now and world's number three verizon loba has been leading a russian charge of the china open although she needed three sets to reach the third round the twenty seven year old took the first set six three against. however the czech then won the next six fourteen level but much less fun to read at least

to the decider russia's anastasio probably changed her progress to two sets between the u.s. forces martina sanchez andrea kirilenko defeated u.s. open champion some studies at the second time in two weeks on false i.d.'s from the strain in tokyo while the border title on doesn't have to be made lightworkers trying to show runs in the men's draw russia's mikhail youzhny beat world number eleven nicolas almagro the first time in four meetings he got the better of the spaniard while joe blow thinks on the beach ball gary is going to go to the trough seven six seven five and check take one at close to use that against costa. gaghan elsa. and to ice hockey and spot soccer city rivals and am i for one a monday night's moscow dobby in the k h l well to nominate had home advantage and all the western conference leaders is our respective superstar more of a fight but it was spotted i can take a for the leave examination cause struck the first in the i think areas and in the

second. netted to make it two no. fellows that acted not so i would go number three at the end of the second period watched and i was misery. to the force of the home side to get one back with respect to the bank but it was too little much too late that's why the victory spots x. they ate in west palm the number of state topped by one point. russia's rugby team has backed former wales flanker kingsley jones to become the new head coach the team arrived back in moscow on monday off the failure to reach the knockout stages of the world cup in new zealand discourage the team's assistant coach is being tipped to replace mikel i need a shot at the helm to step down from the bad last pool game against australia and the other says his departure was planned before the tournament but in the players open late jones would be a good replacement. but. i made the decision to quit the team before the

tournament so it's not connected with our results at the world cup i've been spearheading the team for three years now and this side needs new inspiration a new challenge is probably pointing in experience for a new would be the right choice i hope you can see jones stays i think you can head coach decisions even if he's offered it as if you can you could steal a share and give a lot to this team i think it is easy to top class professional. i'm sure he can do a really good job as well you can continue to want to make or a star. to the n.f.l. now where the indianapolis colts of slumped to their third defeat of the season losing twenty four seventeen at the top of bay buccaneers well the colts were still missing the first choice quarterback peyton manning through injury and with kerry collins also alex they gave curtis painter this start lisette might be well enough to come to give the colts a ten often lead early in the second quarter. and often times as i

tied the game with a field goal the pack combined again to give the colts a seventeen ten lead in this. game mood swing back to the home side josh freeman through to preston pocket for a touchdown that leveled the school once again. and then three minutes after busting run from garrett blount sealed the win for the bottom is that final score again twenty four seventeen. now scandal has rocked russia's speed skating team ahead of the fast approaching new season south korean short track coaches but given the more orders often apparent abuse of power the team has been as a training camp in salt lake city in the usa where the skaters were reportedly exposed to some treatment for head coach jimmy johns he and

a couple of cases distance apart by the korean formula all he who survived he is the champion the law school is said to have had quite a state who was given a fine of thirty laps for adopting the wrong pose resting after a grueling training session. meanwhile the athletics track that will be used for next year's london olympics has been showing off for the first time and has a traditional reddish appearance to satisfy the world's broadcasters television companies want to be running arena to complement the stadiums that run seats on the green grass of the infield along with. first to try it out for schoolchildren as well as british athletes who praised the surface which is similar to the one used at the recent well championships however there are concerns about the tracks long term future of west ham united football club access to use the stadium after the games have finished counting fears the track could both be removed but the british government is determined that that won't happen it was a promise leaving

a stadium is a promise that we made at the time of the bit that a promise you made to the world in singapore i'm innocent little facts about basic things if you make a promise you should keep them so it is very important for athletics in this country to have a state in that's capable of pasting the world at thirty seven chip and to have that legacy for future generations growing up in and around the east end of london is incredibly important to us and that's before you've looked at the one hundred million that it brings the london economy. and finally the north caucasus has long supplied russia as well the dylan pick champions particularly in wrestling and boxing but traditional sports are also highly regarded the. reports from the festival in the southern mantles. aiming 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. preserve in the

asian culture as well as beating people together is what this competition is all about. because this is one of i'm sure a festival the caucuses games will become recognised 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 that olympic sports will feature in the games next year well with or without them there was still plenty of action to keep the audiences and to taint the tug of war clearly the crowd favorite. still trace in old beach with a hint of cheating or the ever popular belle tryst fling. which is not dissimilar to the more established record the styles the fans and the athletes alike enjoying the pro says thing about it is it's going to put it i really love the game so the

competition here is high and the spirit is great i wish we had more events like this but you know there are. and it turns out these games i'm not just for fun or the joy of taking part some plan to use them as a springboard to the start of an option that says 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 star 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 schools in the region so if your generation can grow up to succeed the two hundred and fifty local athletes are currently vying to compete for russia at the london olympics hilditch o t. well that's all as well this policy will be back in just under two hours with until then.

news today violence is once again flared up. these are the images go world has been seeing from the streets of canada. trying to corporations rule the day.

and rachid corporate greed on wall street's role in the financial crisis hits more u.s. cities a protester save the angry campaign has largely ignored by the mainstream media. near zones finance minister is still a crucial bailout cash for athens as it misses deficit targets all greeks claim state imposed costs are already pushing belmokhtar. libya's transitional leaders name a new cabinet as to gadhafi fighters want a final atop of the colonel stronghold of sirte which the red cross says is suffering from the humanitarian crisis. russia's ruble continued to decline on tuesday it's so so far lost thirteen percent just this all of them versus the goal of doing business to find out why this is happening and want to expect him to or do not stop.