it was because did it because it didn't seem critical to. the. survival. let's say on a strike that. greece comes back from the fight. thank you for. destroying that's right. that's slavery. to public wells. when the ruling classes protect them

so. we can all middle of the room sit. we started working on the question of the euro before the euro was launched and we had such concerns about what was what you were preparing to do you all know. god and all bureau laws days.

pleased to say. thank you all very much. an hour for me to be here to. pay tribute to a hero of freedom. milton friedman. i arrived in italy in november two thousand eleventh shooting documentary the nation was at risk of default and under pressure of the european institutions the berlusconi government had just resigned in favor of mario monti a technician who would have afforded the forthcoming catastrophe it was the first time in a decade that i came back to the land where i was on a brilliant mind. to advance a moral vision. a vision of

a society where men and women are free. free to choose italy had been downgraded by the radio agencies and had lost credibility in the eyes of international markets there was everywhere a climate of fear and uncertainty about the future. when government attempts to substitute its own judgments. for the judgments of free people. the results are usually disastrous. the italian case with its debt out of control could have even caused a domino effect on the whole european economy not only dose of the pigs. what was going on in europe in contrast to the free markets invisible hand. which improves the lives of people the governments invisible foot. trampled on people's hopes and destroys their.

maybe about it said that's the word spread and austerity had entered into everyday speech but no one knew not what consequences the economic crisis would take the streets spain's choice the general strike that stretching throughout europe still european politicians was shared with the crisis would be resolved soon applying effective economic recipes and structural reforms. after four years of austerity the economic conditions of the pigs are even worse but the european press continues to believe that corruption and indolence are the sources of our problems and at this point we deserve this crisis.

priest for the. world. and. then that are bullied see. that match of the. most honest of and a lot of quizzical as a kid. sees the. world. that is sound the big kid enough to buy into. ship if you. live in that she countries do we wish the weaker economies are. not working hard spendthrift. is mostly complete nonsense for example greeks work. more hours per week than. germans do.

it. in one thousand nine hundred two the my strict treaty was signed in the european union was formally born. but let's take a break because this story also talks about. that in that very same year found in the social cooperatives. only of which she is now president in twenty four years in new colleagues and given back dignity to those who had just been released from mental hospitals schools prisons or simply from their homes they left with the family a few to condo full of crazy people they drove around. town north of from under the eyes of the outraged locals and they got to change the face of their city a co-operative has dealt with more than five hundred people with disabilities and more than five thousand people to convention jeff it serves a tenth of the population of mt to return today the likely base is that it would be shut down triggering a real social bump in the event that's. a good. one hundred.

percent say. with macroeconomics you can understand the limits and then with microeconomic you understand everything that happens inside of those limits macroeconomics might put you in this role and then micro would be everything that happens inside the world. bought. in the stuff that will send it that someone's about to step down. if you said one hundred dogs into the room to get some bones there's always ninety five there you've got a macro problem a structural problem five of those dogs are going to get anybody. cheated. by the opposition of it now the micro con is then the psychologist will take those five guys out and they'll examine the then they'll say ok they need more training we need structural reforms in. exerciser. fight hard.

to get and sure enough the next time. they forget this is going to be just five other dogs that don't get bones because there's a macro problem it's good they're better dog stronger darts. but if the problem is short for short. nothing the micro can do about. you is it really possible. between the upper floors of. small. problems is it true that we are one hundred dogs in a room with five bones and who decides when the bones must be ninety five or one hundred.

people. you. see. i. don't. really miss.

christine basie. meeting with any move by the. president. to start a little straight shaken to its very foundation t.j. you had one hundred fifty billion dollars of today everyone is asking and. also the other big question tonight the fate of the thousands of employees who work in the building. and the u.s. financial crisis spread to europe in the form of sovereign debt crisis and quickly turned into an economic crisis says there are so there's a lot of discussion about what's going to happen.

it was never the strongest suit or the european union. the only way of imposing such highly. toxic policies of for three shifting the losses from the banks to the shoulders of the weakest stock spears of europe. whatever the next. was that maybe.

because. we didn't unique. feel a. massive government intervention launched a new. economy creating jobs balance and social conflicts in protecting the weakest segments of the population this was called the new deal found. that there were family. and they're going to. come

over to the new deal was inspired by the father of macro economics john maynard keynes argued the need for public intervention in the economy of the nation on the opposite side milton friedman yes that treatment of freedom and economic consumption of the bloodthirsty dictator pinochet theories remain the source of current economic policies of the past and anything we can do to keep down government spending is a good thing we should restrict it to those activities like defense which we really need to do. because it's a political decision is why in the past i've called it a crime against humanity because it's an act of decision a kind of walk they have run out of money the central bank discredits acoss is no limit to the amount they credit accounts so let's see how money is created in the united states.

here's what people are saying about rejected a night with us exactly just full on awesome the only show i go out of my way to touch you know what it is that really packs a punch. yampa is the john oliver of r t america is doing the same we are apparently better than booth at a c. paper you never heard of love redacted tonight not the president of the world bank page but he doesn't write it seriously he sent us an email. about your sudden passing i finally just learned you worry yourself in taking your last to bang ten. knew it would i tell you i'm sorry if only i could so i write these last words in hopes to put to rest things that i never got off my chest. i remember when we first met my life turned on each other at the end but then my feelings started to change you talked about war like it was again

still some are fond of you those that didn't like to question our ark and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind it's consumed with death this one difference i speak to now because there are no other takers. to claim that mainstream media has met its maker. the federal reserve is not spending smarter the buns. of the federal reserve much the same way that you are in a commercial but. ben bernanke was the president of the world's most powerful central bank the u.s. federal reserve troops to learn through a burn we simply use the computer to mark up the shards of your column in the federal reserve we need to print morning because all more economists believe and

then free from the spare room. feel in the us the creation of money can be focused on public spending especially when the economy is in trouble september make it a good second if you must be. christie said. in the eurozone instead during hard times even this could happen in english in an odd g. . c. beebies alluded to it was to seek a chicken stock to add a sequel or two coming that. she meant sacrifice. and sacrifice today for sterrett. the men for a cause. remain a big economy and get. free about the big

that the you know the cream that i made a dependent that. it will says. oh your do you know the. boy. was the same. child. according to census the research institute in italy national funding to the regions linked to social policies was reduced by approximately eighty percent from two thousand and seven to two thousand and fourteen. do you remember the matter of the bones if we got it right it is the austerity that decides how many pounds should be placed in a room of four hundred dogs. is the room. until

it is. seen on to say. that it will see its. top ten. tell. you finally on how to. get it going to. normal. sensitive it's no use at all to speak to him into including the audience.

and then get someone down if you just check or when you know they really can stay here and i am still here you found your answer gonna kill somebody. who. want to be one of them was all the song mean needed john the me is indeed he was all you need to punish and continue to want to lean on. the summit control chunk you. did. it why did she tell somebody you. can just study is all you have. what we have learnt is that if you are in a situation of low growth even the recession austerity is a very bad idea it doesn't work and it makes millions of people very unhappy those who are unemployed see their wages decline it has been misery and as

a result in the eurozone the countries of the eurozone have been doing much less well in terms of my quick anomic developments of growth unemployment the countries outside to you was on sinatra's the term. dismantle the whole set of beliefs documents which are highly misleading collapse issues butyl look at. the stake you know if you join a fundamental east as you saw in the day yet a lot of the economy going to go up by a little convinced the only and the most likely to add blowup if he's going to dog me if. zona. don't push it down you could have. to do the same. to new york city's welcome by the people. gathered in which to

watch the world get people to see what you are doing a choice. he did believe he still climbers i mean if i go to school today killing going to me of a day if you didn't believe you don't mean it can be beautiful going. on when. you're going to live. but is it true that the national debt is a problem. western. you know make a move to work for them but you're not the good woman is that we need in britain is that they don't have. no yeah they were in that period that impressive out of phase with the public will be made accountable. but. they sold the carry out the the mood of the immediate and the beautiful would go america elevator with the. who sold it to put

a sovereign currency is a currency that is under the control of its issuer so there is an important relationship that exists in any sovereign country that has a sovereign currency the relationship is that the government collects taxes in that currency spends in that currency and has a monopoly over the ability to create that currency so in canada and in the us in australia and britain the governments are the only ones who can create their own currency here in the euro zone governments. spending euro's and taxing arrows but cannot create the currency value the idea. that all of america cation of dollars at the un approval number need to do that didn't it that it was there was no. movie

a problem with the bit with movie where. these are the countries of the world whose public debt can be a problem because they are unable to create their own. when you buy u.k. government bonds you know that you will always be. in pound sterling at the moment of maturity because the bank of england will make sure that the cash will now take the italian government is issuing debt borns not anymore but in you post and you also are in fact like foreign currencies and as a result if markets distrust. meant me massively. knowing governments may not have the cash you will cash to pay out to both told us and therefore precipitating a crisis in

a self-fulfilling way pushing it doesn't government into illiquidity it cannot find the cash and possibly default. political to feed off. of the. lawsuit. but back out. of a deal with a woman or girl because it's a. good. south. tower academic paper by harvard economist wrote often ryan high. which conservatives would wider using to argue for austerity was recently refuted by grad students just because it had a few simple spreadsheet errors and a couple of little staggering omissions that made it slightly fundamentally wrong.

thomas hearns and mr arnold think it was one of the most important american company realize that you have upset some people in the austerity crowd who have someone starting your car for you right now. when the public exceeds ninety percent of g.d.p. it becomes an obstacle to growth. the two great economists had committed. in the columns of their x. times as i've been talking to a lot of the media across the world they've been pretty heartbreaking stories about what's going on in europe and you know i've also seen the effects of it in this country as well we have to keep cutting the government budget and laying off people until those people get jobs that's right you got it the austerity policies are based on a full blown miscalculation. you know but they see their already using it all over europe and they love it so much that they have celebrations in the streets

sometimes with. sometimes just fire and every day. despite seven years having the absence the beginning of the crisis the economic studies continue to support the danger of public debts which are too high and the need to cut public spending and the deficit. must be percent. the. equally month they need to meet they didn't put it that we have this fact. she said. for them in full to put it to me that i'm. while it is empty annoying it really i. mean to create it it means more ok. the three percent for example is just something that is. it's like the trinity or something to

ignore scientific basis for imposing the number three on countries intelligent people. when you reject this it doesn't make sense if you do deficit spending you're not adding your stimulus you're not giving the economy drugs are you doing is you're removing a restriction so you want to think of the economy like we do as i don't pick run it that's all have to run it's it's educated it's got good capital goods behind it it's got. lots of always lots of food what you know everything you need in your economy housing clothing music production ok but then all of a sudden you put a plastic bag over the head of the satellite and he can't breathe right and so now we can't run any so what we're saying is just like remove the restriction. one see . as a bank at the event that there is even a needle jannat you did that in gun the piano doing this to mean people rishi bank

us into that it is that you need a federal reserve stump up the money. when they can last decade defeats you will be coming weekend on saturday if you know change the trade quadrupled you could from day to day change look even in post invasion who will buy sure who decided and why the sprinter had to run with the plastic bag groceries had. chose seemed wrong. but all the rules just don't hold. me you will get to shape out these days comes to agitate and gain from it equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

bosler the dubrovnik will fix travel destinations so it must be nice to live or is it. tourists disrupt the city's economic and social life before this on the celestial get out of the. sun not as. soon as we spend money in a school but there's a. mile of cities tried desperately not to collapse. the profit of. the couple who probably globally. in the bushes up the on saabs knock up the supposed to mean a. good. life. is

a tourist phobia will fail fall into an identity. here's what people have been saying about rejected in the us is it just pull on. the only show i go out of my way to lunch you know is that really packed

a punch. is the john oliver of r t americans do the same we are apparently better than. c. people you've never heard of love back to the night president of the world bank so . send us an e-mail. to present you with a real. little trump institute attack is an option as he prepares to meet with his military officials up to pyongyang said it successfully tested a hydrogen bomb. russian foreign ministry slums u.s. searches of russian diplomatic site says an illegal diabolical circus missy's in some cisco in washington was shut down on the state department. and it all.