think. everybody. did you know the press is the only industry specifically mentioning the constitution. that's because a free and open press is critical to our democracy shrek looks. like you know i'm sorry and on this show we reveal the picture of what's actually going on and we go beyond identifying. rational debate real discussion critical issues facing america. ready to join the movement and welcome the big. bomb tell harvard in washington d.c. and here's what's coming up tonight the big picture. more and more americans are

waking up to the nightmare that is the trans-pacific partnership that the mainstream media doesn't seem to care the corporate news outlets just not understand trade policy or is there almost total blackout on t p p coverage a sign that they're up to something more sinister or and that what might happen tonio just a moment also for many americans communism is a dirty word but how much they really know about it is communism really as bad as everyone thinks it is and hundred side both the right and the left have started to take the oil industry's side not approving the keystone x.l. pipeline i'll tell you why they're totally wrong in tonight's. getting to know this right now the white house is pushing congress to pass the biggest so-called free trade deal in a generation with almost no one in the mainstream media talking about first we got

the north american free trade agreement nafta then we get the central american free trade agreement katha and now we're about to get. the southern hemisphere and asia free trade agreement shaft but the powers that be don't call it shafter they call it the trans-pacific partnership or t p p if approved the t.p.t. would create a whole new set of rules regulating the economies of twelve countries in four different continents border in the pacific ocean negotiations have been conducted entirely in secret with the help of six hundred or so corporations but over the past few months a series of leaks has shed some light on we're just what the t p p actually is all about although its supporters call it a free trade deal a t p p isn't as much about trade as it is about empowering massive transnational corporations at the expense of we the people and the governments that represent us leaks chapters of the deals intellectual property and environmental chapters show that it would give big pharmaceutical companies virtually virtual monopoly patent power let corporations sue countries in international courts over regulations that

those corporations don't like and got national environmental and financial rules sounds pretty scary right now if you think that's scary consider this as a good chance that the t.p. could be a lot more dangerous but thanks to the shroud of secrecy reduce around in the negotiations we'll never know for sure p.p.p. is a big deal and americans need to know that their government is working with giant corporations to undermine the basic principles of national sovereignty and democracy unfortunately the mainstream media doesn't seem to care or any media matters for america over the past six months only one nightly network news show the p.b.s. news hour mentioned the trade deal and the only mention it once and that one mention occurred when a scholar from a d.c. think tank said the signing out of the d.p.p. was essential to improve relations with asian nations cable news did a little better when it comes to t.p. coverage of fox so-called news had no mentions c.b.s. talked about it once and m.s.m. b.c.

talked about it thirty two times but those thirty two times were mostly on one show the edge show because m s n b c is only avail. by premium subscription there is a very good chance most americans never watched and talk about the t p p and that's a shame corporations in charge are writing the have already hidden their plans from the public eye at least the mainstream media could do is report on their secrecy joining me now for more on this is mike papen tonio attorney and host a ring of fire radio pat welcome back. now how are you i am i am concerned about this pappy just heard me talk about how little the mainstream networks have been covering t p p is this because our trade policy is confusing an area tight or is this got something to do with interlocking boards and trans national corporations it's pretty it's pretty easy to understand and you it's easier it's easier to understand why corporate media doesn't want to talk about it they're very selective on what they talk about it's not the producers tom don't have the ability to look

at this trade agreement in see that it is not awful just for the american worker not awful for farmers not all for awful for just the industrial complex in this country that used to make automobiles and used to make great industrial products it's awful from the standpoint of it's a threat to democracy i mean in the truest sense harry reid you've heard me come on your show and you've been kind enough to let me say what i wanted to say about harry reid i haven't always been all that kind to harry reid but i have to tell you something harry reid twenty years ago stood up against nafta and he said you know what this is bad for the country and it's harry reid again who has his hand up saying it i'm not only skeptical about this deal there is a deal that has no oversight it has no transparency at all but he went as far as tom is saying to his fellow democrats look you would be well advised not to

push this now coming from harry reid who runs that senate who raises money for all those people in the senate that is a clear as a very clear message it's almost a message that's so clear that the democrats thinking about supporting this fast track has got to say you know what this may not end well for me because he may not be there to raise money for me so there's a lot of meaning to harry reid coming out so strong it almost it almost gets the point to. we can almost say this might be dead except that you have a small faction like the john kerry you says harry reid is going to change his mind about this if we give enough time it's very interesting dynamics right now yeah well and and. talking about the southern hemisphere asian trade agreement shaft. i don't really want to get that. the thing that precedes this of course is fast track which is which is legislation

where congress takes away its own power to negotiate and debate legislation and turns that all over to the president this this this fast track power is something that never should have been given to the executive branch in my view not at all not all of course you know i think it's interesting as we watch this unfold the republicans are all for this in a blog now can you imagine the rule itself. well the tea party that's exactly right it's an interesting alliance between tea party and democrats and you've got some wonderful democrats coming forward here sherrod brown elizabeth warren bernie sanders all the people that you would expect to come out and say you know this this this alliance the president obama is is putting together these are pretty strange allies he's a lying himself with alec who has been pushing this for a long time with wall street who wants to turn america into a new side of pan and the u.s. chamber of commerce if you really drill down what t p p is about it almost comes

down to this in the simplest terms you know we used to say corporations used to be willing to go to places like san pan or taiwan get cheap labor where they abuse the labor there's no there's no real oversight on how labor's is is treated but now what if you don't have to jump in that challenger jet in fly all the way to taiwan what if you can build a sideband right here in the united states that's what this is about because what it does is it takes away our. lety to make laws that you we have to we have to treat our workers properly we have to have safe work environments there has to be a minimal at the least a situation where a worker can work with dignity we can't have child labor and at some point under t. p.-p. we're going to see all of that challenge because we're going to lose this we're going to lose the ability to have control over our own laws it's amazing you know this is a great thing for harry reid i'm very proud of harry reid about this i agree with him today yesterday actually opened the it was the first day of the thirty day

public comment period to the state department about the keystone x.l. pipeline and not coincidentally there's been you know all kinds of lobbying that's been happening in the last twenty four hours is there really starting to ramp it up both pro and con on both sides i'm just curious your thoughts on you know obama the keystone pipeline you know game over for the climate was what james hansen said the former nasa scientist if if that much carbon is dumped into the atmosphere this is apparently the second largest. tapped pool of fossil fuel on earth well well the truth is obama has been wanting to do this for quite some time tom he just needed permission and so all of this lobbying that you see taking place all these efforts by industry and now from all the the alliances are remarkable if you take a look at them the thing that's so unfortunate to me as we see this whole discussion

focus just on the pipeline is that what we're doing is we're losing our attention to the macro picture the macro picture is we can't rely on fossil fuels anymore anyway so it's not just about the keystone pipeline it should be things that we're paying to take our attention away from solar and geothermal and wind and wind energy it and that's the unfortunate thing about this it's going to now distract us from that macro argument that we should be making of that. macro issue that we should be paying attention to is that we cannot rely on fossil fuels and expect our children and their grandchildren to live in a world like we live in at this point and so that's the unfortunate thing about time for an urban. yes very good idea and if there was a carbon tax that actually captured the externalities associated with it all of a sudden i have a feeling the keystone x.l. pipeline would not be financially viable and if we're going to be talking about high plains this is we really should be talking about water pipelines given the

drought that's happening and i'm curious just to in the last minute and a half or so we've got here perhaps. it seems bizarre to me that we got this terror alert today about toothpaste to sochi and then they said oh but you know there's not an actual threat it's just like somebody came up with the idea you know in the media all this hysteria why are we not focusing on our athletes on the games what's going on well it's call it i call it media stupid talk i mean first we hear they're killing all the stray dogs the toothpaste and paste bombs are going to go off the kitchen and tears are right outside your door putin is in your bathroom it what it happens it's a chain it's a domino effect that takes place in corporate media in once one person says it and then somebody has to out stupid that statement and that's what's happening here that the narrative has been set the narrative if you really think about it tom is

be afraid now there's no mention of course the we the atlanta olympics we had a bombing and you know and were critical about how they're running things in russia just like we were critical about how they ran things in china but it's almost as if you create this stupid talk narrative by by producers that don't want to work that hard isn't it easier to talk about toothpaste exploding where there's a toothpaste bomb where there's no real proof of and be afraid is always the favorite narrative of yes thanks so much for being with us i think and hit the nail on the head thank you thank you joe. get it out it's been more than five years since lehman brothers collapsed in the global economy is still in the weeds is the time to start thinking beyond capitalism will solve our problems more on that right after the break.

i marinate join me. for in-depth impartial and financial reporting commentary interviews and much much. only on bombast and only on. those the media leave us so we leave that maybe. i will see motions to tour the play your part of the musical. for shoes that no one is asking with the guests that you deserve answers from it's all on politics only on our t.v. .

as to the rest of the news on monday the janet yellen era at the federal reserve officially began yellen has a difficult task ahead of her late last year her predecessor at the nation's central bank ben bernanke and now is that the fed would soon begin drawing down its multibillion dollar bond buying program more commonly known as quantitative easing a drawdown started during the final months of bernanke these ten year that yellen will be responsible for most of her job will involve more than just fiscal policy however the same time as she manages the fed's draw down yellen will also have to

convince the world's leaders that the global economy can survive without easy american money sounds dramatic but yet yellow yellow really does hold the future of global capitalism in our hands at least to summers so to some extent after all is only five years ago the global economy entered its worst downturn since the great depression things of no doubt improved since the day lehman brothers went under but the markets are still fragile and are arguably one currency devaluation or one debt crisis away from another crash so can yell and help guide the us through the stormy seas ahead is a time to radically rethink our economic course joining me now from our new york studios for more on this is richard wool professor of economics americas at the university of massachusetts amherst and author of numerous books including his latest democracy at work richard wolffe dr wolfe welcome back. thank you professor for average and you actually went to grad school grad school yale at the same time as janet yellen i don't i don't know if you do you are but what do you

what do you think of her is she the right person for the job well she's the kind of person that has been groomed most of her adult life for this kind of work literally up through the ranks of the academic world the policy world vice chair under ben bernanke he so she is in every way the appropriate person to continue if we think that the crisis of the last few years the worst and deepest since the great depression is a time to rethink policy to face the failures of policy in the past then she is not the right person because nothing in her background or in your writing would predispose anyone to expect anything much different from her compared to what her predecessors did. from the from the time of the great depression until the reagan era we didn't really see any banking crises and then the reagan era banking crisis

of course was after the eighty three when reagan deregulated the s n l's in eighty six they fell apart if i'm remembering my time right now well i'm right and he'd been through some bankers s n l bankers in jail. our federal bank our major banking system was largely deregulated around ninety nine in two thousand and still that way i mean it we've got five or six banks now that control an amount of money to about sixty five percent of g.d.p. are we still on the edge of something like what happened in two thousand and eight or nine hundred twenty nine. absolutely and there is no reason why any level headed person wouldn't want to say my goodness we deregulated in the end of the mine nine hundred ninety s. president clinton signed the bill that cancelled the old glass steagall act that had provided some buffer and literally seven years later the economy falls apart

led by the banks making dangerous loans with other people's money risky loans that they didn't understand that blew up on them proving once again that leaving the important matter of credit in an economy becoming more and more dependent on credit in a handful of big banks is a fundamentally own wise way to organize a modern economy. in your newest article you argue that here in the united states the two parties are better understood as two wings of one capitalist party in the us sharing virtually dictatorial political influence to what extent do you think that's the result of capitalism or markets or even fed policy versus the u.s. supreme court discovering in the thirty eight years ago in the in the buckley case and thirty six years ago in the first national bank case that money is protected by

the first amendment and corporations are protected by the fourteenth amendment and we fought the civil war to free the corporations. well i think the basic issue is this and there's a recent book you might want to take a look at by a man named thomas piketty just published now harvard university press capital in the twenty first century what piketty does which deals with your question is show that capitalism and this has been true for several centuries now systematically produces growing inequality of wealth and income so grievously does this work that periodically there's a political upsurge of the people hurt by this the masses who are falling further and further behind and they change it like we did in this country the one nine hundred thirty s. they they stop that process they give us more be quality and less inequality but of course the people at the top those who benefit from capitalism's tendency the

inequality learned that lesson too and the lesson they learned is you've got to stop the capacity for the mass of people to use politics to undo the inequality of capitalism and i think the last thirty or forty years all the way up to citizens united and all the other decisions have been the process of the biggest richest and the biggest corporations to make sure that politics didn't play the role that piketty show. as it periodically did in the past that now they will control the politics with money and so we'll have to let capitalism implode on itself because it cannot be stopped politically from the inequality that in the end will swallow it up its previous book the one that was first published in french. yes. as you may know the leading authorities around the world what inequality how is that for the how is that analysis different from marx's analysis and us capital. i

think the difference is marx always integrated politics in economics he didn't like the idea and he would have he would have made fun of the notion of a politics department or a political science department over here in an economics department for him these were intertwined realities and the difference between him and pick kerry would be he wants to show that the economics shapes the politics not that the politics periodically comes in and does that economic reality that the two are interwoven and it's particularly important now because of the clear thrust of big corporations in the top one percent to control politics to prevent it from undoing in the name of democracy and the mass of the people what the economy is doing to the mass of the people namely pushing them further and further to the bottom eliminating the

middle class and all the rest so if. capitalism is basically going to crash should the keynesians the modern keynesians stop trying to fix it stop trying to regulate it back to the new deal and just stand back and let it happen. well they're being defeated at every turn they're frustrated they're pushing i understand their frustration i think they're facing the fact that they don't have the base they can be all the keynesians or neo keynesians or poster indians they want they don't have the cia or the socialist and communist movement of the one nine hundred thirty s. that translated their critique into a political force they would have to go back and recognize the need to build a unified political force at the bottom something they've never done in order to see a chance for their ideas to make a difference you know here's an ironic truth the soviet union didn't collapse

because of an external attack the united states likewise is not going to go down because someone is going to blow us up with toothpaste explosives the problem of the united states is it's imploding because it can't solve the problem of taking care of the mass of the people with a capitalist system that is only interested in wealth accumulating in a tiny minority that contradiction marx pointed out and that's never been addressed in this system and it's coming to a crisis point. well it's an extraordinary analysis and and a concerning one in the ritual professor were all thanks so much for being with us tonight. my pleasure tom and thank you for having me i always always really enjoy your insights.

it's the good the bad of the very very. ugly the good alexander overture. ovechkin watching capital superstar two thousand and fourteen olympian is speaking out about the true purpose of the olympic games he told the washington post earlier today that the media is spending too much time focusing on politics in hotel rooms and not enough time focusing on the athletes is that i've been in three olympic games i remember touring in vancouver and nobody said anything bad about it who were driven why do you guys always try to fight bad things in sochi it's the olympics guys come on everybody should just enjoy themselves and ignore the bad stuff i couldn't agree more alex or at alex the american media needs to spend more time focusing on the talents of our athletes and less time focusing on human stories about bombs toothpaste the bad sam zell during

a wednesday interview on bloomberg t.v. the super rich founder and chairman of the investment firm equity international defended the idea that the one percent are being persecuted like jews and nazi germany as he put it the one percent should be emulated and. the problem is that the world and this country should not talk about envy of the one percent it should talk about emulating the one percent the one percent work harder the word. one percent a much bigger factories and all forms of our good health. they work thousands of times harder tens of thousands of times harder hundreds of thousands of times harder i'm sure the one percent work so hard sitting around on their butts are on the pools collecting their dividend checks and the very very oddly that crazy anti obama lady during a recent town hall post hosted by republican congressman jim. stein an unidentified

woman went on a tirade against president obama calling for his execution as an enemy combatant to look. i don't. know where it runs for the next few months and i know that. there are muslims that he is shipping insurance through my making commercials yet. feel like you know you do not get it you say the general public life. is kind of you know. you know the worst part all this is congress and britain side didn't even try to correct that woman he just kept going on about how tyrannical obama is now. coming up the phone lines are now open for your take my take a lot of segments so you want the chance to ask your question live here on the big picture or give us a call at two o two not all four twenty one thirty four take talking to you after the break.

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live . live. in effect that means you can jump in anytime you want. you know the playing. field in big spirit travels with the flame from its place in greece. james brown for an elemental and epic journey around russia and beyond.

where i think become. one of the wonderful. face i think you. pleasure to have you with us here on t.v. today i'm sure.

whatever your take by take a live our phone lines are now open so if you want to share an opinion make a comment ask a question live on the air give us a call to a two not a four twenty one thirty four if you're outside the united states add a one before that number for the u.s. country code let's go to our first video better than i can get in syracuse new york . it's on this is keegan at syracuse university our district system is absolutely broken shouldn't we move to a proportional system where every american is equally represented in their ideas if for example three percent of the country is green party shouldn't we have three percent green party representation in congress thanks. yes i think it's a brilliant question kagan and you know most americans don't even know what proportional representation ins but the fact of the matter is that you know our form of government was we were.