hello that welcomes event to capital with me katy perry will be in this week we're going to be talking about bankers salaries are they 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 at the markets desk with our in-house trader here i'll say that's all to come but 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 equates to release compared to the world's most valuable company apple's a guy 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 cortical of 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. not the growth of routed through through your quote book were three one three more about that if you were to move us your group and we're going to grow to get it to you trillion if you get out the people there or thirty three hundred and you were there only thirty there is no way that america can ever know. there

this is not going to affect the market anytime soon but eventually when we start having problems in the financial markets everybody is going to be overthrown and they're going to know that americans are going to and it's going to produce more turmoil in the financial markets credit markets. the currency market is going to affect all of us in a huge way moving on to bankers salaries the latest data from the european banking authority is likely to insinuate the average citizen struggling to make ends meet in these times of tough budget cuts the fake is a bill that the bank is at the ferry heart of the crisis three thousand of them all taking home more than one million euros a year in pay and bonuses but most of that cash is being dished out in london's financial center accounting for three courses all the seven figure salaries in the a year eight germany came in second with one hundred seventy bankers receiving

woman in your is a mall in france came in. so as you can see there's a huge difference between london and the rest of the e.u. so the question really is all of these salaries it's justifiable i've got patrick young right here from the t.v. advisers to give me the lowdown on this a particular start right there right there if i may great to have you with us are they justified these huge fact salaries what do you reckon well one 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 farce 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 and 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 then do you think that's going to work at all that's going to be introduced in london is that 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 though 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 a 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 then helping government no doubt 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. and now it's time for some corporate news the owner of russia's biggest our minion produced a result 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 on our markets

they're 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 us dollars today trading with an amateur but this is serious business what 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 or metal that's one thing that makes everything go around 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 with their production is up so i'm looking to metals are going to have some faith in here but there was also some good news because i looked at the grid companies everybody means power right i mean infact 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 fuel slave plans where he could be sacked leg 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 the 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 of the oil 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 are 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 of 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. execs to have million dollar contracts with nyc racket brand head and her own brand of sweets mr 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 our 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 a gorgeous woman girl power like it now moving on staying told the billionaire owner of russia's most expensive football club is kind to slash the budget by two thirds mr solomon of russia's nineteenth richest man with a fortune 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 euro 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 imp. caissons on the sporty side of thing i got the. part it's all schools tell me what's 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 go in 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 u.s. investment use development as part of the energy project mr karimov said we're going

to put money in local players 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 can train in moscow and fly to some eight hundred miles away for the 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 halfway well that's only really so 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 is a tendency to look at angie and suliman karimov and compare him with ramana 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 city 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 self is going to be an interesting season for us but also for angie pay-pal. thank you very much indeed feel time. for this week's edition of the event's a capital you can join me same pesos same time next a copyright on goodbye. wealthy british style. time to rise with. market why not. come to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune into kaiser report on

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

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 stakes a policy.