tv [untitled] August 16, 2012 6:30am-7:00am EDT
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a new report the extent of american military buildup in. china. by those are the headlines on. american economist. says the u.s. president barack obama doesn't care enough about the country's deficit and debt problems. and then. with reese todd buchholz a former director of economic policy at the white house he was one of the first u.s. economist to forecast the two thousand and one the slowdown in the u.s. the two thousand and eight pop in commodity prices and the dell rate of the u.s. debt rating thank you very much for joining me today you're welcome let's start with your latest book rush why you need our love the place you argue they are that
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competition is the one thing to keep us going and from you revealed the problem that exists right now and this is science heat they receive a lack of desire to fight for a thing to fight for a good job a good education is that really sell we've had twenty years of focusing on self-esteem trying to make kids feel better about themselves and it didn't matter how they did on tests the test scores didn't matter what they knew or what they achieved the whole point was it didn't matter what the important thing was to feel good about yourself so in washington d.c. for instance they asked the students how they would assess themselves in mathematics. and the washington d.c. students felt that they had wonderful skills in mathematics they had the best sense of themselves they had great pride in their knowledge of mathematics but when you
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look at their test scores have turned out they knew very little of anything so we've spent twenty thirty years educating people that trying hard is not very important and what's most important is just to feel good about yourself but bet is just a complete confusion because the best way to get self-esteem is to do something worthy of a seed and i'm afraid that the younger people are not. i want to do some baggage in a pretty harsh economic climate. even before the great recession which began in two thousand and eight we were seeing over the course of the last twenty years decline in the willingness of young people to simply move to another state in order to take a job we've seen a decrease in mobility so yes the great recession has made things worse made people even more nervous and worried about their futures but these trends were in place beforehand he think americans really are becoming those people who need
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a three hour lines you dump them as generation y. pour into it bruce springsteen in the one nine hundred seventy s. had a famous rock album in a song called born to run and he wrote about a generation that couldn't wait to get their driver's licenses couldn't wait to get on the road and explore the country and study have done recently we see that young americans are less interested in getting their driver's licenses in the one nine hundred seventy s. and eighty's nearly every high school student once they turned sixteen or seventeen would have a driver's license now many are waiting till eight hundred nine hundred twenty and is that because of economic decline no but i think it is a symptom of a lack of motivation so instead of being born to run they seem born to sit on the sofa in front of x. boxes or play stations or their i phones of course there is
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a portion of the population of the young population that is very motivated highly motivated that is very ambitious and very aggressive and certainly carving out great careers for themselves so i certainly not going to suggest that an entire generation is sitting on the sofa however we have especially in this harsh economic climate certain states in the united states which are prospering. where the job market is very healthy and other states where it's very poor. well you can rent a car you could hop on a bus it would only cost about two hundred dollars to get yourself on a bus from nevada a state with a terrible economic climate to north dakota where you would have a job almost as soon as the bus arrives and yet we're not seeing people making those sorts of moves they seem to be waiting in place for the jobs to come to them and i'm afraid that is not
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a very promising way to look at the job market these days so the go go days of the nine hundred ninety s. turning into the go backward states of the two thousand so where next the u.s. economy is a bow what a pilot would call stall speed we certainly are growing fast enough i believe that we're not going to go back down into a double dip recession but the job market is painful the job market is very weak i think president obama has not done much to help the job market i don't think his stimulus plan was very effective the only thing a stimulus plan did was scare people into believing that we now have debts that will be unpayable and that the u.s. debt to g.d.p. ratio you see will simply be unmanageable. so we've got an economy that's slowly repairing itself but we seem to be avoiding tough decisions when it comes to how we're going to pay our debts in the years ahead can we expect another stimulus
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plan i don't think there's going to be another stimulus plan out of the u.s. congress certainly republicans will not be in favor of it because they see that it's been a waste and president obama i think recognizes that the prior stimulus plans are no longer popular in fact i'm not even sure he will use the word stimulus anymore because now it has a tone of being negative because very few americans believed it has created any jobs except maybe for some government bureaucrats president obama. a year and a half two years ago pointed a commission to examine the u.s. fiscal deficit debt problem he appointed a well known former republican senator and a very distinguished. advisor to president clinton obviously the previous democratic president those two individuals with their staffs with congressional
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colleagues spent months studying the deficit and the debt it was the simpson bowles commission and the president appointed them and they came back with a plan that was very tough that was very bold that would cut some tax rates to make the u.s. corporations more competitive but at the same time they would cut spending you know really across the board including in retirement schemes and the president was presented with this plan and even though he chose the members of the commission he walked away from the plan because president obama doesn't care enough about the deficit and debt and so i think until the president leaves office whether that's in november or in january or four years from january i think it's going to be very difficult to for the u.s. to tackle these difficult economic and fiscal issues right now like looks like almost nothing that we have a seem to be think can be taken to be think i'm talking here about the very
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currency that we eased the biggest banks in the world what is safe now there's always going to be some fear in the market except when there's a bubble well there's not a bubble now so there is some fear in the market and there's a big question mark over all paper currencies there's a question mark about the value of the dollar and the euro in the yen and the ruble in every other currency that is not backed by some hard assets so we have a positive sign next to g.d.p. that is a big right bold positive sign you know it's kind of fate sometimes it hides a little bit but i think. there's been a demonstration that u.s. corporations aren't managed so badly after all and they can withstand a pretty weakened cauvery and so that will i think be giving investors a little bit more confidence in the stock market and of course that confidence all has already been expressed in a pretty healthy rally over the course of the last year more than ten years ago
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a new bull market shock even worrying that the result wasn't stable and having to why it's played called turmoil you also sad that the members of the eurozone would stumble because of the differences and monetary policy so what is your point cast now i think the euro zone is like a really bad polygamous marriage with. old wives and one husband just disagreement jealousy and fighting constantly but the eurozone is a mess because that they were never meant to be together ireland was a more deflationary place as was italy germany had low inflation they needed different monetary policies and now we've got this disaster. and it can't simply be solved by the e.c.b. writing some checks. greece is simply insolvent and
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uncompetitive if greece still had the drachmas it would have been devalued there'd be truer assault from germany flooding into greece bringing foreign currency bringing their heroes to to greece the hotels would be filled instead what do you have you got it an economy that has should have a big tourism base but tourists won't go because they're afraid of riots in the streets the prices haven't fallen because they're denominated in europe and so you have empty hotels throughout meekin osa in athens and century me so it's very difficult to see how greece survives as a member of the eurozone and it may very well be on some busy weekend i don't know when no one's paying attention during go world cup match or something that greece will exit the euro zone hoping that nobody notices but it's going to be awfully hard to keep them in.
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the headlines on the streets of breaking news for you this britain involves to deny julian safe passage if indeed he's granted political asylum by ecuador all of this after threatening to raid the embassy and arrest the whistleblower by. prominent any opposition leader. gets a three year sentence for organizing illegal gatherings he's already in prison for his anti government tweets. a powerful saudi based islamic group counsels syria's membership claiming only damascus for ignoring the rebels and al qaeda terrorists. and the heavyweights square up in asia a new report maps out the extent of america's military buildup in the region china
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eagerly courts allies of its. all the sporting headlines with. company and in this. city start a new team russia should draw their game under the guidance of the. flushing that is the french open champ and pulls out of the last grand slam of the season due to injury. the golden handshake present was in the putting green all russia's. ceremony in the kremlin. russia drew one all with in what was. first game in charge of the national squad
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they looked to have given capello winning start but were foiled by a late goal from the african cup of nations runners up. again for us. even though fabio capello's appointment meant ushering in a new era of football for russia it was evident by the half empty stadium that many fans were still very much skeptical of their team after the disappointing exit from the twenty twelve euros for the ivory coast could have been forgiven for not having too many fans on hand to support their team but those they did make it was celebrating even before the whistle blew for kick off the pal opted not risk team captain andrea shannon but this was probably more to do with the potential wrath of the fans rather than any injury worries the game itself began like most friends k.g. and safe both sides probed each other but neither side could carve out any real chances ivory coast star studded lineup which included didier drogba and both to have brothers seem content just to break up russia's play. and the first half and it as they had begun. in the second half the russian fans started to make their voices
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heard and ten minutes in euro twenty twelve star islands a go it stepped up to slot in a free kick to make it one nil to the home side controversially capello decided to substitute him for minutes after for no other the national urban much to the amusement of the crowd they made them happen is known by booing him whenever he touched a ball and that seemed to have taken its toll on the whole team as i recall began to sense they could make a goal which they do they did ten minutes from time. i thought be a capello was content with the performance and the results but was surprised by the crowd's reaction to us out of there when they say i was surprised the fans wasn't him and continued to be negative towards him i also noticed that when the whistling began the team began to lose its concentration of this is not good and it's quite baffling to me going to andre him self was disappointed by the fans' reaction but vowed to prove doubters wrong you know most of today we played against
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a strong team but we had our chances with regards to the negative reaction from the stands course i'm disappointed but i try to not let it affect my game hopefully it will change with a few goals and it went from there. ivory coast midfielder didi is a chorus that is team was happy to have come away with a draw praising the level of russia. because. he did so capello's rain has begun with a one one draw with the ivory coast however more surprising was the fact that he left out andrea shadid from the starting line up and not just there to give the captaincy to ego denise. come on in the second half but was booed by the russian fans every time he touched the ball this and many other things will give plenty of food for thought but he only has three weeks to get his team together before they start their world cup qualification campaign when they play more than islands on the seventh of september. and there were more international friendlies played
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always there including world and european spain champ and spain claiming a two one victory at minute to rico the home side are ranked outside the top hundred in the world but managed to keep their minds in spain in check for more than fourteen minutes too quick goals. just take control right before the break something close a blast of a long range before says they were guests at the second substitute mark save at least some local pride sending the crowd into raptures midway the second half that was the best they could do to one last thing. i. beat in europe twenty twelve finalists lost. in the quarter finals. travelled across the border to belgium to fall to four two defeat there and there were no goals scored in the france year of y.
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encounter while unless he was on target to help. beat germany three won. him love says his defeat is nothing to worry about. if you catch all the world cup qualifiers it will be another story because the players will have played a few games in the new season so they'll be in a much better form they were getting tired in the second harvest it was all three weeks of preparations was not enough. while back in russia a unique us now john has been named the new had coach of could one cross the dar following the departure of dampier tresco the forty nine year old also manages russia national side designed as a reserve team for the primary squads previously trained and moscow while the trescott has been strongly linked with a move to another caps of club dinner. over in england manchester united have
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agreed a deal to buy scoring robin van persie from aspen or the netherlands striker has yet to undergo a medical and a great personal terms before signing a four year contract transfer said the red devils back almost fell to eight million dollars twenty nine year old scored a league best thirty goals for last season. intel is french open champion rafael nadal has pulled out of the a soap and due to an egg injury that same injury also saw this missed out on a chance to defend his olympic crown in london earlier this month that world number three at last played at wimbledon in june back then he crashed out of the second round falling victim to lessen our look at ross saw it all says he is sorry to skip the last major of the season and while defending champ another joke which was full of support i really don't know what would be injuries and how susie's but
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obviously. he's that serious that takes him you know from the tour for the last couple months and. you know easy this is a great compared to. you know somebody i know really well on and off the court i'm sure hugo's able to perform when you saw him he would he would come so you know i wish him a quick recovery was called himself is full of fits and he'll play rushes nicolette of a dent in the third round of the cincinnati is the second seed serb advancing after seven six six two victory over their separate. also through these newly crowned olympic champion and the briton cruising past local boys think where it's six two six four two one up that meeting with france is germany. while silver medalist in london roger federer will play australia as benetton in the third round the swiss master was in total control against russia's it's become
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all wrapped up in a six three six two victory in just an hour. now with the dust beginning to settle following the twenty twelve london olympics some of russia's top athletes have been ordered by president vladimir putin the country playing twenty four gold medals in london just watch their targets and there are more athletes were invited to the ceremony as they know the medals were worn in team sports russia's judo men at their best bringing three golds stuffiness triumph in artistic gymnastics and that of europe has to go and alexandra de chant inconnu what the sell victories in their sports all successful games for many of the country's representatives. yes that's right up look at that list i would like to thank everyone who supported us they are from and i didn't put into every single spectator of the true man to our fourth effort to feel such a support and now after we managed to get to the very top it's ruined our pleasure
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to see how sincerely people greet us. in the meantime uganda is the winner of belong to an olympics to think you probably true received a hero's welcome by hundreds of people on his home soil the crowd was delighted by the african countries the first gold since the nine hundred seventy two games in munich when the marathon race in the british capital to give uganda its first medal of any kind since the plant a big sixteen years ago despite his success to run a complaint to the country's authorities over local sports facilities and funding in uganda. and then a minister is for. something like mr mike. both of us in this training ground. i hope that.
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what you see. we. should be done. immediately because we have a lot of athletes. they have families but some some of them. discovered. because of their. in the meantime much more heralded. is already eyeing the next summer games the four time olympic champion and won three times in the year two hundred meter. relay race is twenty six to. madison and comedy set just to set a new world record in the four by one hundred meters with a blistering time for two point eight seconds. one hundred and to fix that twenty sixteen. definitely you know i feel like
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i'm i want to be in rio and i'm going to do everything to get there and you know we have our world championships in between but i'm still just so motivated. you know i want to come away with another success. well you know up to date now join us for more sports news from around the world with in an hour's time here goodbye. well. it's technology innovations all the developments around russia we've got the future covered.
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