crosstalk in the great transformation i'm joined by my guest here in moscow mark sloboda he's an international affairs and security analyst we also have dimitri bobbitt he's a political analyst with sputnik international and we have these and he is a professor at the higher school of economics. rules in effect that means you can jump in anytime you want and i always appreciate glenn let me go to you first here this is the tenth anniversary of the beginning of the great recession and what's really interesting about the last ten years that if you were wealthy in the one percent you could say recession what recession you have a greater concentration of banks greater concentration of media and you have tens of millions of people across the western world that is the defining moment in their life it will probably be for the rest of their lives if it depends on what side of

the divide you want because you know these elites were just too big to jail. well that's correct and they're only become much bigger since then. and they're also much more exposed. to. volatility in the markets so i think. this crisis is far from over and i think the next crisis comes along it will be much worse because let's not forget this crisis caused a great extent by too much borrowing too much spending. too much debt to get out of it the specialists borrowed more in order to spend more and you know in quantitative easing it inflate this. so i think that once they take away. this. kool-aid let's call it the things will go quite this point it will be much worse than the previous time i think what. political ramifications are immense mark and

when you can draw this is a fundamental moment phenomena that actually created the demand for somebody like donald trump and. right wing populism in europe i mean austerity is a hard thing to sell you know first of all the fault. and the lack of response by washington and by other countries is universal it's on both sides of the political aisle i mean it is is the big wall street bankers no big wall street bankers responsible lehmann brothers anyone else has never been held accountable they picked off a few smaller bank in the us under tarp just to say that a few people were punished but certainly not of the ones that were really responsible for it and you know this didn't only happen in the u.s. and it happened all around and they continued on with complete impunity and none of

the rule broken rules of the game that allowed them to do all of this to inflate these bubbles have been changed and they're simply talking now what will be the next big bubble will be mortgage relief again i would be education why was it always saying that one point to me you know there was plenty of private financing we could have bailed out lehman brothers and everyone else there was so much money on wall street but no what we get now and this is the perception i think widely across the western world is that you have. socialism state socialism for the rich and then you have capitalism for the rest of us so again you know planned to call me they all be viable planned economy every quarter we plan it just depends on who is playing it unfortunately wall street was playing but simply playing it or the u.s. economy and they ran it into a disaster no question that because of the number of wall street. the officials in

both the obama administration. you know go right into the economic facts and i go to really put it you know obama said let me this week it didn't start with donald trump he's a symptom not the course he has been capitalizing on resemblance that put it to should have been playing in four years because of that british service of donald trump who has been feigning all of this obama for two consecutive terms was in the country i like the way jimmy door put it in his show he said it was not global drum called me the u.s. defense budget seven hundred billion dollars it was not trump who started the wars in libya who helped the wars in ukraine and in syria it was a mama and now obama is saying that it was you know i think of course well he's not this is hitting an interesting point here i mean we know this is an article in the american consumer been encouraging our viewers to look at the american consumer some great stuff you know all the time of the coup against trump we could talk

about that there but the conclusion you know this is what i think it's kind of interesting and it kind of goes back to what mark was saying quote for his supporters trump's continued occupancy of the white house is more about cultural grievance a middle finger to a failed establishment the middle class was improving now i see trinket and the blame game or you know something that mark has just mentioned is just you know absurd the washington post accuse drum for florence in what way because all tribes hold a lot of use on climate change and i think what i saw that there is a god i'm excited to go ahead. mark. did i think many will be blamed for one accomplishment being blamed but in this instance this wasn't really capitalism because in capitalism they also do things wrong essentially the.

because by the end they're punished and those things right today essentially take over but what you saw in this instance was essentially people throwing good money after bad money because the common corporations that everything wrong they did it to be this is this is my thing with that i mean i would say this is more cronyism in corporate capitalism because you're absolutely right in theory in a pearson's if you make a bad decisions you should pay for it ok but in this case a cascade number of a level of mistakes were made and there were only protected and bailed out recession what recession ten years later that's how the one percent feel we often describe this is neo liberalism well technically that's not true it's what we judge the call on this runaway vulture capitalism but it actually combines the worst aspects of how you act and the neo liberalism with the worst aspects of keynesianism with with bailing out of the banks and the government you know

shifting the cost of this from the big financial institutions which gambled and lost the money to the private so what it is is that you can bail out wall street but you don't have to worry about main street and that's again going back to the thirty seconds before we go to break you know too big to jail or too big to be jailed you know there are some people in there are some companies that just don't get punished and not only with that recession of two thousand also with the iraq war no one wants to know what was a window it is they made me thought because that is bipartisan crisis what crisis and the endless foreign wars here you i mean i don't care about class war but class war cares about you know gentlemen we're going to a short break and after that short break we'll continue our discussion and some real news with our.

facts geysers financial survival guide. housing bubble all. oh you mean there's a downside to artificially low mortgage rates don't get carried away that's cause a report. two thirds of american households do not have five hundred dollars emergency. as

crazy. value population doesn't have money and money maintaining thirteen aircraft carriers are on the move why why did you change your policies and do something that is good for the lakers. and good for america in the long run. what politicians do. to put themselves on the line they get accepted or rejected. so when you want to be president. or somehow want to. have to go right to be close to survival before three in the morning can't be good. i'm interested always in the waters of my house. first city. welcome back across like you are all things considered i'm peter about to remind you we're discussing some real names.

ok before we go to some other news mark give us about a two minute update what's going on with syria yes it's a mess but that has a new that's nothing there so russia and syria are preparing still preparing for their all fence of an igloo but they have at least temporarily put it off and the big reason for this is after the failure of the austin summit in tehran is turkey gone has sent huge numbers of convoys into it carrying arms for his proxies of course h.t.s. controls all the checkpoints which is al qaeda here all shot so he's he's essentially i mean literally arming al qaeda he's sending tanks a.p.c.'s by some reports. air defense and i don't want yes i did what is turkey's

defense of this because when you say he's no one is protecting terrorists giving them supplies eccentric cetera he wouldn't say it that way what is his justification his justification if he's protecting civilians i mean that's it. he says he protecting. the protecting the new ottoman empire that is what is really doing is a land grab it's in the autumn and land grab but both from the west and from turkey which are starting to get back on the same page again the rhetoric is if russia and the syrian army go in the end to liberate it from al qaeda and friends then some civilians will be killed completely not the case of course in iraq a more so or fallujah where the u.s. devastated entire cities to get rid of isis out there even though u.n. security council reza. lucian's put al-qaeda and isis on the exact same page demand that they must build and we'll talk a little bit of an international law in a little bit here which gears here a little bit i mean it will. come out

a fascinating article very short the e.u. nations consider clearing house to avoid iran's sanctions now the reason why i put this. is that. american allies are more and more concerned about being sanctioned by the u.s. for its economic and commercial activities around the world it is this is starting here because we see these sanctions being applied on everybody and across many many sectors for many many different reasons it seems like this is the ultimate weapon sanctions well i'm afraid it's too early to have been there what we're in a war with and the states for to war you know they were in the same ball didn't leave they were in the same border in syria now suddenly they started to protest stance on iran it's too late you know what they suggest and it is european company it could be the clearinghouse for imported oil and the clearinghouse that would

give that money to another company from the european union which provides goods and services for europe well the whole problem is that the same sense of which mr trump is is reasoning that against everyone they can be not only against a foreign government they can be against a foreign company an individual and you know they have been going on for too long it's like it's like any criminal gang you know when you murder three people together when you don't want to murder the fourth one it's to wait you know the guy is going to give you up to the police you know but what's interesting to me is that this is the breaches here and it is why because if the european countries want to get around think sions there's other things that the countries of say hey well maybe we could use this mechanism in creating a new swift system because other russia has done it the chinese other people are doing it it seems to me that this is this breach is widening and it's

a dangerous precedent from really from washington's perspective you are actually using the dollar as a weapon and it is a weapon that is becoming more and more blunt it's not the only currency in the world. no i agree and i think that this the reliance on the u.s. economic and financial system has been a source of great power for the us all to me and i don't know this hour but the problem of course if you over use it i mean this article recently foreign affairs that recognize. more sanctions because once you use this march sanctions countries have a huge incentive to escape it so of course it began with russia obviously having a pretty good reasons the chinese already began to duplicate the financial system to run parallel with the united states and they didn't their opinions we always thought you know the americans. did it was going on so it. came in oh you realize oh maybe we have to go as well and if the europeans are walking in that

direction i don't think they will go as far as the chinese and russians but obviously there's a big market for an alternative system everyone from iran to go across the globe i mean europe you know the european union is the largest economic entity in the world ok it's going to need to eat out economy i mean it should start looking you know if you read something not in terms of in terms of defense in terms of security in terms of finance there it's. going to there is a division in europe don't up everyone is on board like monaco pushed back a little bit because you have to sometimes as merkel did on the winning side lately . and i just want. to resume still there. are some arguing that need to have strategic patience just waiting for the next guy that everything will go back to normal the other side essentially saying you know this is a trend this has an austrian strategy you had in the ground in the storm you know the problem with the you of course is they're not really one entity they are

divided they don't agree on anything if the e.u. was serious about fighting back against the u.s. they would put sanctions on any u.s. financial companies that are by day by the same sions that the us. yes is putting is threatening to put on e.u. countries and let's remember the trumpet ministration is now threatening the e.u. energy security in two ways both with. trade with iran which of course is principally oil and threatening them over the gas the north stream pipeline with gas russia's gazprom which they need to get gas and. as all this is going on right now and says new sanctions against china sanctions against iran sanctions against russia same thing against canada mexico everyone else i'm starting to rethink my own personal finances in light of this and i'm investing heavily in stock in popcorn because ok. because there's all of this is going on in

the us is weakening it's dumb barrois one mechanism other than the military for global hegemony i am enjoying watching them destroy the road because you know it's a power. for the program and i said to. me you know it's not. america first policy because it's turning into only america policy which is you know you can you know the u.s. is an enormously powerful country no one denies that it's still the center of the financial system of the world everyone knows that we can't deny it but it seems to me that the way the dollar is being used. only looking very good i would say narrow towards. that smarts were narrow shortsighted national interest that is . alienating the u.s. from friends and obviously foes the problem with you is that it's polish is what

consequential they are against sanctions against iraq why would i think for the war in syria why are they there for the war in libya syria and libya were peaceful countries they did that that can you what they would not be a threat to europe but they went along with obama and. then they said no we're not going to go well with trump against the tall lady guy and you can call their favorite bob out of their dollar trump it's not a symptom of the little trump donald trump is a symptom he is not the course he went to war with that ideology for a few decades now and now they want to get off the train to wait i would add though that this earlier mention this possible could get stronger and that's exactly where i want to go there you know what i was going to say that. several american officials make the point that. they're sending also signals out to the europeans you know hold on guys you know who won't be here forever like he's the president

but you know the relationship will continue to that's kind of a way to reassure of their opinion so that's layered ministration are speaking with one voice but you know i find that to be a very hazardous policy let's wait a few a couple of years i mean the you know there's a lot of here and now we shoes that are going on you know markets seem it seems that you know. you know with this new book fear that has come out yet right exactly . bob woodward's book. it seems to be they're pushing the twenty fifth amendment strategy much now because after two years i'm glad we don't talk about it so much on this program because i find it very boring russia russia russia again. is this the last thing they're going to do before the midterms you know because men afford papadopoulos when had nothing to do with russia and i've said repeatedly for two years if there were some kind of collusion would have been leaked by now by peter struck at least a page you know well i mean the arguing the trump is crazy i mean i think most of

it was not an impeachable offense as i think most of his voters knew he was crazy when they were he elected him and that's part of the reason why they voted for. but . i don't see that there's going to be any immediate against drum because it's already been. proven in fear and in this. deep steady state anonymous editorial the new york times that trump was powerless i mean trouble said we're going to pull all of our troops out of syria it was a stupid thing we're supporting terrorists and obama never should have got involved and suddenly we're doubling down we're net we're have an indefinite military presence in syria were openly doing military drills in the last week with rebels in syria there's no. changes because it what it isa bit because he knows he can't fight them or he has different battles he wants to fight i think partly it's because he could be convinced by the last person he talked to in the last fifteen

minutes but i think also the threat of impeachment does hang over is head and he's handed the neocons and you know the serious pentagon brass the power to do what they want you know we've seen it only so we sort of venezuela get this right i'm thinking of coups he was put on i can't believe i can get my head around this because i agree with you only to a certain extent because but they still are going after him even when he has got to get the way to get the show he told his aides he agrees he reverses but he gets no political capital and he doesn't generate any political points that would ensure his survival the last twenty seconds and well i mean the problem with these ultra liberal is that they have tremendous inertia they have been going off as a loss for a few of those and so he has he died they went off to his son even a little of the song was not in danger at all it was called the reformer but you know there was a problem they are replaced. with real issues ok gentlemen were brought out of time

many thanks my guest here in moscow this is the end of our broadcast segment stay with us for the extended version are you to change you tube channel so you next time and remember crosstalk. in twenty forty you know bloody revolution to crush the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it just no lawyer i mean your list book video put him in the new bill is that i mean you explain the total of the former ukrainian president recalls the events of twenty fourteen that those who took part in this did over five billion dollars to assist ukraine in these and other goals that will

ensure a secure and prosperous and democratic. i've been saying the numbers mean something they matter the u.s. is over one trillion dollars in debt more than ten white collar crimes happen each day. eighty five percent of global wealth you want to be ultra rich eight point six percent market saw thirty percent rise last year some with four hundred to five hundred three per second per second and bitcoin rose to twenty thousand dollars. china is building a two point one billion dollar a i industrial park but don't let the numbers overwhelm. the only number you need to remember is one one business show you can't afford to miss the one and only. two thirds of american households do

a lot have five hundred dollars emergency cash. that's crazy. no population doesn't have money and money maintaining thirteen aircraft carriers around the world. why why don't you change your policies and do something that is good for the label. and good for america in the long route. when lawmakers manufacture consent instinctive public wealth. when the ruling classes project themselves. with the financial merry go round the liberals only the one percent told. to ignore middle of the room signal. going to the real news in. the world.

child's seemed wrong all right old quotes just don't call. me old yet to shape our disdain to come to advocate and engagement because betrayal. when so many find themselves worlds apart we choose to look for common ground. know this time. as. well. so there was a build up to it. in the you know what i. don't

want to know the more i was wondering about. something you didn't really. misread. him. i don't want to. go but a little you know. this i know of the. in the stories that shapes the week he says to her in chief speaks exclusively to the two russian suspected by the u.k. of poisoning sic a script paul and his story the man's claims triggered

a few obvious response in need and all this mr as a joke. the russian military claims terrorists in syria's adlib province have filmed a staged chemical attack and intend to frame the assad government's. still more troubling signs a new executive order aimed at protecting us from paul ryan and act.