still too high we've got exclusive interview coming up on that one also the world's highest paid female athlete finding out who they are thanks forty with kate partridge artie's sports presenter coming in to talk to me about football and business as well as that we got corporate news and checking in the market stats with our in-house trader here i say that's all to come by let's get started with us . because the official figure of sixteen trillion dollars seemed warningly high according to a study by the university of california america's debt is actually four times higher at seventy trillion dollars so how much does that sum a quite so let's compare it to the world's most valuable company apple so here we go that now as you can see this official figure equates to forty apple empire's bar professor how much and studies found that the u.s. has over seventy trillion dollars of unaccounted for debts which would make up a total of one hundred sixty five apples but it turns out that even seventy

trillion may be an understatement a former economic adviser for president ronald reagan professor courtly cough says it could be as much as two hundred and eleven trillion or five hundred times the world's most valuable company i asked author of street smarts jim rogers if he was surprised by the findings and how much longer such extraordinary debt levels can be sustained i am not proud that i've written two or three are quote book or three and one three more about that yes situation of us. growth that there is really you trillion if you get out the people who don't there are thirty to three hundred trillion euros there are only thirty there is no way that america can ever. this is not going to affect the market. but eventually when we started having problems in the financial markets everybody is going to be overthrown and they're going to know that america is. and it's going to grow even more turmoil in the financial market

credit market. the current market going down all over. and the moving on to bankers salaries the latest data from the european banking authority is likely to insinuate the average e.u. citizen struggling to make ends meet in these times of tough budget cuts the fact is you feel that the bank is at the ferry heart of the crisis three thousand of them are taking home more than one million years a year in pay and bonuses but most of that cash is being dished out in london's financial center accounting for three quarters of the seven figure salaries in the e.u. eight germany came in second with one hundred seventy bankers receiving one million years or more and france came in third with one hundred sixty take so as you can see there's a huge difference between loaned and the rest of the a.t.f. so the question really is all of these salaries justified patrick young right here

from t.v. advisers to give me the lowdown on this particular start right there if i may great to have you with us are they justified these huge fat salaries what you reckon well only way yes they're justified before everybody switches off and fury let me make that rather clear as to why i'm saying so the whole point of boyd bankers salaries are that they're generally paid in investment banks in relation to high much money they make therefore if they make more money they get a higher salary that's probably not an unreasonable principle by which to govern these things however the problem actually lies behind the scenes of what's going on here the reason at the moment despite the economic travails for the rest of europe that these bankers can make so much money is because of the shambolic force which has been government reaction to the crisis of two thousand and seven two thousand and eight first of all we had the whole situation where governments refused to let banks go bankrupt that. was ridiculous all of

a sudden banks became part of the government for a moment affectively second of all with a situation where the central bankers many of them former bankers themselves such as the recent arrival mr carney as the head of the bank of england these people the central bankers have simply gone on for the last five years with a frankly in same policy of hounding over money they call it quantitative easing they give away are sets free money free to the banks and they say they're going to help yourselves use this money in order to manage to rebuild your balance sheets so the result is they don't lend to ordinary people they don't lend to entrepreneurs instead they take something they've been given for free they make a lot of money out of it but of course because of the rationale of bankers' bonuses because they're making a lot of money they get large bonuses what about the bonus cap thank you think that's going to work out so that's going to be introduced in london is not the answer. oh look i mean this is just an absolutely farcical example of

regulators trying to do something to justify their political masters who have already managed to mess the whole thing up no they won't work we don't have bonus caps on footballers yet they get one hundred thousand euro as a week for kicking an inflated pig's bladder around the lawn why not because it's capitalism people should be allowed to earn what ultimately they can manage to make a profit that's a very reasonable and sensible assertion by which they could all end up paying more tax evasion and ultimately than helping government no bonus caps simply will not work all they will do is drive business out of the e.u. they'll go to somewhere like moscow where they've got a very enlightened tax regime and a growing financial center patrick young from d.v. advisors thank you very much indeed for your time today very much appreciated. russia's controversial economic amnesty law has been back in focus this week the bill means a formal oil tycoon mikhail khodorkovsky and his business partner platter on the better of our seventy nine years sentence for fraud and tax evasion charges and

will now be released from prison two months early some of the economic crimes that qualify for amnesty include business fraud money laundering and tax evasion this new law has been embraced by the business community seen as a step towards making russia more investor friendly. allowed some time for some corporate news the owner of russia's biggest our minion producer resell that a pastor is closing factories across russia i'm a ask the government for another bailout. so you provide a megaphone buys for the operator skull sell for one point two billion dollars. and this week russia's biggest carrier air flight to made the top five list of leading airlines in europe by revenue and now it's time to check in our market stats going to find out what's been happening to the russian markets was it move it in this way we got a ferry. thomas i'm afraid generous that we should only give you ten thousand u.s.

dollars today trading with an amateur but this is serious business well even if he tell us a lot about it how has the experience well there's good news and bad news as you mentioned i am an amateur so i kind of whether about this from a news approach or a commonsense approach and i figure what do people need what do they like need in this world of metal that's one thing that makes everything go round from aluminum cans to parts for computers so i kind of took a dive because i went to the roof saw the world's largest aluminum company and you talked about a little bit there before and it tanked down seventy percent so very good at all but i'm holding faith because the metals are rallying in fact i was out in vladivostok this week and talked about looking to the east for the direction of the market china a big buyer of metals of their production is up so i'm looking to metals are going to have some faith in their passkey here but there was also some good news because

i looked at the grid companies ok everybody means power right i mean in fact our television station wouldn't run without electricity i looked at the grid companies there are quite a bit or at least doing ok so i took a bath with metals i did ok with some of the great companies this week ok good stuff that makes bag next week he doesn't have the excuse of being a beginner you know one of the best that we're going to know what is that feel slave what he got plans what he could be tackling right indeed ok again from a common sense approach i was looking at the banks and the central bank basically not changing the lending rate so i'm thinking the financials might be one way to look at that and whenever they financials are study that means oil is going to do well at least in my mind so i'm going to be looking at some well and then also cell phones right you have one i have one that we all have one people you just live off of these things and so. about murder for purchasing scarves are expecting there to

do good things i'm going to go for some so for action for the coming week you do that soon thomas thank you very much indeed for that and check in next week we want results for the purposes of arrived racial intolerance just that ok moving on forbes has named dresses tennis superstar maria sharapova the highest paid female athlete for the. million dollar contracts with nike racquet brand head and her own brand of sweep up of a has made a staggering twenty nine million dollars last year despite being the world's number one tennis player serino williams of the usa came in second in the cash stakes with a core twenty point five million dollars and fell a tennis players made up third and fourth place with china's lead now with an eighteen point two million dollars pay victoria as a ring of batteries with fifteen point seven million dollars the fifth place it went to a female that racing

a champion danica patrick just gorgeous women like it now moving on saying oh it's the billionaire owner of russia's most expensive football club is kind to slash the budget by two thirds mr solomon of russia's nineteen richest man the thought of seven billion dollars is planning to sell some of the world's top players to achieve his goal and as you can see the stars they do not come cheap and this is a change of tactics for mr karimov who splashed out more than one hundred eighty million dollars last season one of the reasons for his belt tightening could be down to the fact that his potash empire calley recently took a battering on the stock market dropping twenty percent after the collapse of the world's biggest cartel fell through it so for more on what's behind these cuts the . occasions on the sporty side a thing of the three ladies hair kate part it's all schools tell me what make these

cuts. and i think well first of all gone are the days when angie hit the headlines by signing big name players like samuel eto and villian that seems to be all over and it's not just no longer big signings it's also means wage cuts so all these bigger and as well be going. reported ten to twenty million dollars a year and it's not just the big name foreigners that we're going as well it's also russians the russian football system means there's a quota and you have to have four russians on the pitch at any one time this is pushes up the prices of the russians and their wages so they've got to go to sites three internationals they've already left angie so if you don't have established players where do you get to take them from so the emphasis now is going to be on use investment use development as part of the energy project mr karimov said we're going to put money in local plays in local druggist and players and encourage them and they could also be returning to dagestan because currently all angie's players live and work and train in moscow and fly to some eight hundred miles away for that

how much is this looks like that could be at an end as everybody goes local or just i mean i'm not an expert as i say but just looking at the league table and the stats the goals and all of that even with all these millions they haven't done. well have they well that's only recent far this season when the announcement came in four games ago and so far two defeats two draws two points from a possible twelve points adrift from the top already fourth bottom however there's a tendency to look at angie and suliman kareem off and compare him with roman and promote and chelsea well you can't whatever my bitch put chelsea it was an established established history established fan base everything was established angie wasn't and that's face it last year they were title contenders for the first part of the season they ended up coming third there in the europa league beauty is running pretty impressive for a small club and now they have got to have coming back experience coach to steady the ship from korea so that of it's going to be an interesting season for us but also for angie a part. thank you very much indeed feel time. for this week's edison all the events

are tough as hell and you can join me same pesos same time next a have a great on goodbye. interview.

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a pleasure to have you with us here today i'm sure. it'll. when i've done your bush or we expose the three tricks of wall coming up. plans to split the whole middle east into micro states a policy called kill anything that moves. goes too far.