all right let's move to the markets lots of news there in the united states this is the kickoff picture of the dow and the nasdaq a looking pretty positive as the official labor department's report that i've been promising you of the past twenty four hours as come out a bit better than expected three hundred sixty seven thousand jobless applications were submitted in september now over in the europe a bit of a mixed picture there with the e.c.b. keeping rates unchanged at north point seven five percent but on the currency markets the year i was seeing a huge boost to towards the dollar that's after this decision of course and of mario draghi pledged support again for the european currency let's take a look at actually what is happening with with currencies right now and the russian ruble is mixed this hour it's losing value to the euro but the gating some against the bill and finally on the a russian markets we go around fifteen minutes

left on the clock in the r.t.s. my success still showing negative performance so with my six o'clock almost one percent as well prices remain below ninety dollars a barrel and lukoil is no exceptions down two percent. soon a lot of. what the presumed tones of what we do for use in the rear are see the logic of balances that supplants and you know force wave will lose some to the markets but it's not enough to have seen news coverage right now for the rest know we were both very much for example a very much dependent on capital account want to salute to be up to forty some sort of zero balance you know pushing our borders through all right coming up next on our team renowned economist robert skidelsky explains why austerity is failing and why economists need to factor in human nature.

today i'm talking to north robert skidelsky he's a professor of political economy and also the biographer of john mayne arcanes widely considered to be the most influential economist of the twentieth century we'll be talking about what keynes could bring to today's economic crisis builds could ask you first would you explain to me in layman's terms what the government is doing to mend the economy and why you think it's not working well i don't think they're doing very much to mend the economy i think their policies of made things worse the sad fact is that the british economy has been shrinking slowly almost for a year now rather like a very slowly leaking balloon and the government of been trying in one or two small ways to give it a bit of a stimulus but i think they're quite new initiatives and it's too early to

say how much effect they'll have but in general i don't think they will have very much effect and so i don't think at the moment they're doing anything very much to help because there's an awful lot of talk about prioritizing the economy and it's the main thing that we have to work on but then on the same time you say that not very much is being done at all one thing is that they're blaming everyone but themselves first of all it was it was the euro crisis then it was the high high commodity rise in commodity prices and so they claim that the policy of a stir to should bring about the recovery but that it's been derailed by these unfortunate external shocks but the policy of a stir. is basically wrong when there is a lack of private sector demand when banks are lending when businesses don't want to borrow when p. . cutting down their spending because they want to reduce their debt when the

government then adds to that sort of downward pressure on spending then it's no surprise that the economy isn't growing is does that come from an inherent misunderstanding of how economies actually work on the government's part so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as asperity was seen to be working as soon as the government committed itself to a credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong because it's real factors not just psychological factors psychological factors are very important but it's the real factors the real market that is available to

businessmen that cause them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it wanted but the policies were pointing in a different direction austerity we now know hits the poor significantly harder than it hits the rates presumably that means that during this recess and the gap between the rich in the poor will why didn't even fire. that's that's already happening a real real incomes have been going down because prices have been going up a bit and of course welfare benefits are being slashed. a lot of a lot there are lots of cuts in the public services and the rich are better able to insulate themselves against some of these effects for example house prices in london haven't gone down at all especially in the wealthy areas and in fact they may be going up a bit so the world. of the wealthy has been well maintained but people who have

relied on incomes from wages have been hit and of course there has been since the beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment one of your colleagues an economist called james keane has suggested a scheme that he calls quantities of easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash should be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cash injection it sounds like a great scheme and do you think it would work well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives

a boost to the economy because they could increase their spending and therefore set up a demand for shoes and clothes and food and all the things that people spend money on and so that'll be good for business that's yes i think that's a good idea actually suggested that the government give every household one hundred christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think everyone enjoys getting christmas presents and people really expect them from the government we've seen a europe wide backlash against austerity what do you think prime minister david cameron's chances are of being reelected if he continues if this territory continues if there's no change of policy if the measures that are now being proposed small or is enough. there was one things there may be then i think his

chances of winning the next election a very very small. because i think that there won't be a recovery his best chance of winning an election in two years' time is if there are proper green shoots of recovery and people can see them and then if they're feeling better about the economy they're feeling better about their prospects they're feeling better go about getting jobs and feeling better about getting more income then i think he'll benefit from that and they're have a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we thought of the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and

and enjoy life more and he thought hours of work over time would shrink as we got richer but that assume that we wouldn't fall into these holes that you know that progress would be steady and you wouldn't have any more slumps but we're in we're in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that full speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run and long run prospects one of the things that the railed keynes is theory is this consumerism that we've all fallen to the spell of where we have to work more to buy more to have. more are you

worried that more crises will follow because of the way we work and because of what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most people want to and getting into debt and then the whole machine is driven by advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only

working very part time we need to sort of distribute work better among among among people who want to work and also make sure there's more leisure so people can pursue you know pursue things for their own sake do things that interests them. and that's the way forward otherwise we're all sort of treadmill and i think you're right they'll be more and more crises as a result of it you know drop it's good else thanks. well. technology innovation all the developments around russia we've got the future covered my parents really

truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me for my hands you know just as if anyone would. but they do tell a story they tell a story of. overcoming

a barrier like this seems impossible. but then you create something higher. and when you reach stuff you. know do whatever it takes to get all the talk of the world on r.t. . your new super secret laboratory to mccurry was

able to build the world's most sophisticated robot which all unfortunately doesn't give a darn about anything james mission to teach music creation why it should care about humans and we're going this is why you should care only on the dog call. you know how sometimes you see a story and it seems so you think you understand it and then you glimpse something else and you hear or see some other part of it and realize everything you thought you don't. i'm sorry welcome to the big picture.

the turkish parliament votes in favor of military operations beyond the country's borders following wednesday's deadly shelling from syrian territory that turkey renews its retaliatory strikes on syrian targets. the plan does the west rushes to blame president to solve for the cross border voluntas calls for restraint on both sides and highlights the lack of global condemnation for the terrorism that's killed dozens and aleppo. also athens or ropes as protesters stormed the greek defense ministry and the latest show of despair and the struggling country. next to sport with kate.

hello welcome to the sport on a third big night of european football and here are the headlines. big test and she coach who she came with once again complacency has switched sides young boys come to moscow but thursday nights she wrote believe. while coolbaugh is a nice three two at home to milan as an open goal condemned to sit petersburg's side their second straight champions league defeat. and kings of the ring do not on moscow be rivals boss for the second time in a week to go third in the k.h. els western conference. but first a football analogy off preparing to take on swiss side young boys in their second group a game in the europa league because he thinks in form side a top in russia and undefeated in europe despite u.i. for making them play their continental fixtures here in moscow and as michael craft

janko reports they're keen to maintain that unbeaten run. six wins one draw and no losses that's how a. european track record read so far this season the d'agostini side have scored twelve goals and conceded only once late on it would in is it in their made in group game domestically angie have also won the last six games to put them top of the russian premier league for the first time but guus hiddink is not underestimating his next opponents we started reasonable well again is difficult. but at home it will be maybe even more difficult to get the result and it will not be an easy an easy game against a team with experience they have the experience in the past also in europe all the teams are changing. but. they have they have some experienced players so we have a very difficult match tomorrow. the dutchman will have most of his players

available with something well it unless you are likely to spearhead the attack despite this threat sushma table side young boys will hope to get something out of the game they started their campaign with a five three hundred feet to a youthful liverpool side and know another loss would leave their european dreams in tatters. if we don't get a result it will of course be bad scenario of zero points from two games is something we want to avoid at all costs we're here to get something or at least a point up so it's paramount that we learn from the defensive mistakes we made against liverpool. young boys will go into the time having posted their highest domestic league win of the season on sunday a six two home win over set of f.c. which should do no harm to their confidence and although their captain said his side were all too aware of the danger posed by angie's star studded team he's really looking forward to the challenge. is good to be able to square up to such

quality players to see how we fear i personally. really for it is the most of challenge and i wouldn't say no to go home with a new draw if they're not doing it so young boy's dream of reaching the knockout stages of the europa league could effectively end with defeat on g. on tuesday evening was sitting side on the other hand are top of their domestic league and want to continue their good form hitting has hinted that he won't make many changes to the game against young boys but he may well be tempted to because following that game starts a long run of games which begins with anomaly on sunday michael genco r.t. moscow while meanwhile it's five time european champions liverpool who are top group a as brendan rodgers side prepares to host who deny easy the english team fielded a much changed young side for their five three opening victory at the young boys but rodgers says striker luis suarez who scored a league hat trick last saturday and midfield captain steven gerrard i like you to feature those that. you know i always look teach.

and pick a group in a team to win the game i'm sure. it in asia will be a very strong team because some excellent players. and it's a they've had some excellent results the season so far obviously beaten ac milan and unbeaten in the last five games so we need to ensure we have a group strong enough. to look to win the game and but those players will be involved. when in the meantime rubina all the other russian team in action this thursday the russian cup win as host parties on belgrade includes each of the rightness of anybody as men do to two it into milan if you now get your next chief . one elsewhere isn't taking any chances as the top manager plans to once again field his first choice team a pal of the lycos in the group gerry clash this strategy didn't work in their outlook or spurs were held to a goal destroy time to lot see a fortnight ago however their on and beaten in three league games and

a first victory in twenty three years at manchester united with a three two win loss saturday and want to keep up their winning ways in europe. to be able to be to be scottish to the world in your own league so. because they were the guards you need to give orders to want to make the most of that obviously the divorce. even the possibility of going on the run and trying to do something this through. well we won in the champions league on wednesday nines and it suffered a cruel three two defeat at home to ac milan after a tamasha only goal fifteen minutes from the time gave the seven time european champions victory the visitors were tearing a lot after just sixteen minutes thanks to her to be emmanuel son and stephanie ellis surer way darts of record signing hold hold one back in first half stoppage time on the wrong track of level soon after the break starts with a quarter on our last chance but through his own nets to make it three two to milan

and a string of inspired saves from the cave a question of the r.t. meant the visitors kongo on for victory. as a result leaves in the bottom of group c. without a win after two games bottom hour our top off today tries but on the late. night formula one and seven time world champion michael schumacher has confirmed he will retire for good at the end of the season mercedes announced last week that she michael would be replaced by lewis hamilton next season and though they've been speculation the forty three year old german could move to sabah you deny said he will give up racing figured no one has won more championship titles and schumacher who initially retired in two thousand and six became back to race with the sadie's in two thousand and ten however he since claimed just one. i decided to retire by the end of the year. although i'm still able and capable to compete with the best drivers that are around but at some point. it's good to say goodbye

and that's what i'm doing here with by the end of the season. and it might be stymied even be forever. now into ice hockey and defending champions dinamo moscow have beaten rivals our boss for the second time in a week that in ohio victory was enormous four straight win and puts them surge in the western conference as younger dance reports. it was a highly anticipated fixture denali not worse he won three of the last four get there in cups in the cage and see it on top of the west and eastern conferences respectively for boss it was also a chance for revenge a solution to the most divides just last week in the rebuild charges completely dominated the first period they've done is very becoming a major threat for the opposition but these efforts won't enough to break the deadlock rather unfortunately for a divorce as it was denominator managed to produce the opening goal soon after the break the real cares if beaten keeper constantine berlin from close range from this

point fence of the mega sport their inner enjoyed an open game with loss of goal scoring opportunities. in and his dynamic counterpart alexander reader and up to the mark to say the least and there was little surprised in both goalies who are named the team's best players at the end of the night but before that the most whites who are able to find the net for a second time defender yanna yellow swara get into the school shit after a decent effort from oleksandr of h.q. and n.h.l. star coming away with one assist although he says his personal statistics i never too important as long as his team keeps winning and. i have been given a lot of support from players and coaching staff and that really helps me to get back into europe as from my personal deforming i'm quite satisfied with it as long as deny my win the game is there if you score a lot but a team loses and you can be really happy about that on that basis he is

a happy man at the moment since his return to deny they won five of their last six games and with the majority of the season still to follow the surely a lot more to expect through and company are trying to get thirty. out of on it's a tennis and while the men say maria sharapova dropped just two games as she eased into the court. a final of the china and the russian slovenian qualifier poland ahead song six of sixteen to twenty third straight set win of the tournament although it should not face a stiff a test to show this scene and you think about the song german i became formal well the one caroline wozniacki was another russian me and i have as they not is out she lost a well number one to tory azhar into the next day switzerland romita up from the wall and michelle usually has moved into the quarter finals of the men's draw the russian kept his cool to win this long final rally and beat south africa's kevin anderson six three six three and seeded youzhny is looking for his second title of

the season but next faces a fresh jo wilfried tsonga the frenchman received a walkover into the last fight and he can live with two miles into a right leg injury. that's a lisp or series life. wealthy british style. expert on. market why not come to. find out what's really happening to the global economy with mike's cons are the no holds barred look at the global financial headlines tune into kaiser report on our g. c good

laboratory to mccurry was able to build on these most sophisticated robot which all unfortunately doesn't give a darn about anything turns mission to teach music creation why it should care about humans. this is why you should care what your only dog. download the official ati application to self choose your language stream quality and enjoy your favorites from matsushita t.v. is not required to watch on t.v. all you need is your mobile device to watch our team any time.

you know sometimes you see a story and it seems so for you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you don't know i'm tom harpur welcome to the big picture.

the to sleep. news today violence is once again flared up. these are the images the world has been seeing from the streets of canada. china operations are all day.