fullness there isn't today. inequality is really unprecedented i'm sure that total inequality it's like the worst periods of american history. but if you're find it more closely the inequality comes from the extreme wealth in a tiny sector the population fraction of one percent. there were periods like the gilded age in the twenty's or early ninety's and so on when a situation will rather similar to this. now this period six trillion because if you look at their wealth distribution the inequality mostly comes from super wealth . literally the top one tenth of

a percent are just super wealthy. not only is it extremely unjust in itself. inequality has highly negative consequences on the side is awful. because the very fact of inequality has a corrosive harmful effect markers that. you opened by talking about the american dream or the american dream is closed and diluted it will encourage you work or you get rich it was possible for a good worker to get a decent job. at a core of children who are school. collapse.

imagine yourself in an outside position looking for mars. what do you see. in the united states where there are professed to like democracy. in a democracy public opinion is going to have some influence on poesy. and then the government carries out actions determined by the population and that's

what democracy means. it's important to understand that privileged and powerful sectors have never liked democracy and for very good reasons. democracy puts power into the hands of the general population and takes it away from them. as kind of the principle of concentration of wealth and power. were. concentration of wealth yields concentration of power particularly so as the cost of elections skyrockets which kind of forces the political parties into the pockets of major corporations. and this political power. translates into legislation that increases the

concentration of wealth so fiscal policy like tax policy deregulation. rules of corporate governance a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn to yield more political power to do the same thing. and that's what we've been seeing. so we have this kind of vicious cycle in progress. you know actually it is so traditional that it was described by adam smith in seventeen seventy six he read the famous wealth of nations. he says in england the principle architects of policy by the people on the society

in his day merchants and manufacturers. and they make sure that their own interests are very well cared for however greed is the impact on the people of england there are others. now it's not a merger of manufacturers it's financial institutions and multinational corporations the people who adam smith called the masters of mankind and they're following the vile maxim all for ourselves and nothing for anyone else . they're just going to pursue policies that benefit them and harm everyone else. and in the absence of a general popular reaction that's pretty much what you'd expect. right through american history there's been an ongoing clash between.

pressure for more freedom and democracy coming from below and the efforts that elite control and domination coming from above. because back to the founding of the country. james madison the main framer who was as much of the believer in democracy is anybody in the world that they nevertheless felt that the united states' system should be designed and indeed was his initiative was designed so that power should be in the hands of the wealthy . because the wealthy are their more responsible set of men and therefore the structure of the formal constitutional system placed most power in the hands of the senate or the senate was not elected in those days it was selected from the wealthy men as madison put it had sympathy for property owners in their right.

to read the debates at the constitutional convention. madison the major concern of the society has to be to protect the minority of the opulent against the majority. and here argument suppose everyone had to vote freely as they will the majority of the poor get together and they would organize to take away the property of the rich and he said that would obviously be unjust so you can't have that so therefore the constitutional system has to be set up to prevent democracy. which is of some interest that this debate has a horrid tradition goes back to the first major book on political systems

aristotle's politics. is. of all of them the best is democracy and at any point said exactly the flaws that medicine put into. if absent were a democracy for free men the poor would get together and take away the property the rich. well same dilemma they had opposite solutions or settle for posed what we would nowadays call a welfare state and try to reduce inequality. so the same problem that solutions one is reduce inequality will have this problem and the other is reduced democracy. if you look at the history of the united states it's a constant struggle between these two tendencies democratizing tendencies that's mostly coming from the population pressure from below and you get these constant

battle going on periods or gratian periods of progress in one thousand nine hundred six for example were a period of significant democratization. sectors in the fucking lation that were usually passive avocet it became organized active story pressing their demand. and they became more and more involved in decision making and activism and so on. it just changed consciousness in ways. minority rights. really don't want.

women's rights. or. concerns of the. american is. seeking to provide a position of creation to those who criticize us on the descent they are serious about law. of the vietnamese people black people and people concerned for other people one. million poor people in america when you begin. to reason. the system of distribution of wealth the question of research. these are all symbolizing say.

that caused great fear. anticipated the. earth should have but it didn't then to speed the power of the reaction to the civilizing effects of the sixty's did not anticipate the strength of the reaction to it. the backlash.

i do. think the number is something they've mastered us is over one trillion dollars in debt more than ten white collar crime families each day. eighty five percent of global wealth he longs to be ultra rich eight point six percent world market those thirty percent some with four hundred to five hundred three first second per second and fifth when he rose to twenty thousand dollars. china's building two point one billion dollars a i industrial park but don't let the numbers over. the only number you need to remember in one one business show you know board the mit one and only boom books. you know world of big partisan movies lot and conspiracy it's time to wake up

to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the bats and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for washing clothes for watching the hawks. will make us manufacture to be sentenced to a public wealth. when the ruling classes and protect themselves. when the final merry go round lifts only the one percent. going the whole middle of the room sick. doing the real need.

his trumps america first agenda isolating the united states on the global stage sure looks like it and is the new telling its citizens what to think again sure looks like a. big day to you it has because at the top because what you got is staying in that case if you it gives it nothing is that one thing is to levy j c p u it did yes it was more dangerous for you god because you give free. bloggers to do you but of course . your officer. told them to get up off the ground began to pay him down to. hurt them freeze on the sounds of an mit grown man with misleading essentially.

through his own. wish to do away from the officer. of his group. the obvious or did they kind of lunge for the web in one's midst and then when it happened on trace one as the observations didn't hit him i never saw any contact with. any kind of went back to where they were so the answers back here they're trying again fifteen feet apart at this point and that's when the officer pulled his gun and even turned three. there has been an enormous concentrated coordinated business offensive beginning in the seventy's to try to beat back the egalitarian efforts that went right through the nixon years and you see it in many respects and over on the right you see it in things like the famous pell memorandum. sent to the chamber of

commerce major business lobby a later supreme court justice powell warning that that business is losing control over the society. and something has to be done to counter these forces course it puts it in terms of the defense defending ourselves against an outside power. if you look at it it's a call for business to use its control over resources to carry out a major offensive to beat back this democratizing wave. over on the liberal side something exactly similar to the first. major report of the trial lateral commission is concerned with this. called the crisis of

democracy. or that or a commission is liberal internationalists there are flavors indicated by the fact that they pretty much staff the carter administration. and they were also called the democratizing tendencies of the sixty's and so we have to react to that. they were concerned that there was an excess of democracy developing . previously. passive and obedient parts of the population are sometimes called the special interests who are beginning to organize and try to enter the political arena and they said that imposes too much pressure on the state can't deal with all these pressures so therefore they have to return to passivity become the politicised. and they were particularly concerned with what was happening to young people young people get

into free and independent. in the way they put it there's a failure on the part of the schools the universities churches the institutions responsible for the indoctrination of the young there for it is not mine. if you look at their study there's one interest they never mention private business and that makes sense they're not special interest they're the national interest kind of by definition so they're ok they're allowed to you know flub is said by campaign staff the executive make decisions that's fine but it's the rest the special interests the general population who have to be subdued. when that's the specter it's the kind of ideological level of the backlash but the

major backlash which was in peril of this was just redesigning the economy. since the one nine hundred seventy is there's been a concerted effort on the part of the masters of mankind the owners of the society to shift the economy in two crucial respects one to increase the role of financial institutions banks investment firms and so on insurance companies. but a two thousand and seven break before the latest crash they had literally forty percent of corporate profits. far beyond anything in the past.

back in the one nine hundred fifty s. and as for many years before the united states economy was based largely on production. in the united states as the great manufacturing center of the world. financial institutions used to be a relatively small part of the economy and their task was to distribute unused assets like a bank savings to productive activity a bank are way behind on. money. on the back of the. bank. behind them i didn't. have any money. for the community by making. money for a manufacturer to me kind of going. to unlock how many models are going to money on

a one hundred why people are always needing more cramming and i have a meeting. that's a contribution to the economy. regulatory system was established banks were regulated the commercial investment banks were separated cut back or risk investment practices that could harm private people. there had been remember no financial crashes during the period of regulation by the one nine hundred seventy s. that changed. the story getting the huge increase in the flows of speculative capital just astronomically increased an enormous changes in the financial sector from traditional banks to risky investments. complex financial instruments money

manipulations and so on increasingly the business of the country isn't production at least not here. the primary business here is business. you can even see it in the choice of directors so the director of a major american corporation back in the fifty's and sixty's was very likely to be an engineer as somebody who graduated from a place like mit maybe industrial management more recently the directorship in the top managerial positions or people who came out of business schools learned financial trickery of various kinds and so on. by the one nine hundred seventy s. say general electric can make more profit playing games with money than you could buy produce and in the united states. you have to remember that general electric is substantially a financial institution today it makes half its profits just by moving money around

in complicated ways and it's very unclear that they're doing anything that's of value to the economy. so that's one phenomena let's go financial ization of the economy. going along with that is the oh sure introduction. the trade system was reconstructed with a very explicit design of putting working people in competition with one another all over the world. and what it's led to is a reduction in the share of income on the part of working people. it's been particularly striking in the united states but happening worldwide it

means that an american workers in competition with a super exploited worker in china. meanwhile highly paid professionals are protected they're not placed in competition with the rest of the world far from it and of course a capitalist free to move a workers are free to move labor can't move but capital can again going back to the classics like adam smith as he pointed out free circulation of labor is the foundation of any free trade system but workers are pretty much stuck the wealthy in the privileged are protected so you get obvious consequences and they're recognized in fact praised. policy is designed to increase in security. alan greenspan and when he testified to congress he explained his success in running the economy as based on what he called greater

worker insecurity. a typical restraint on. compensation increases has been evident for a few years but as i learned of some detailed in testimony last month i believe their job insecurity has played the dominant role workers in secure they're going to be under control. they're not going to ask for say decent wages were a decent working conditions or the opportunity to free association meaning unions. now for the masters of mankind that's fine they may show their profits but for the population it's devastating. some of these two processes financial ization i'm sure are part of what led to the vicious cycle of concentration of wealth concentration of power.

what politicians do listen to them. and put themselves on the line and they get accepted or rejected. so when you want to be president. or some want to be honest. it's a going to be press it's like a forty three in the morning can't be good. i'm interested always in the waters in the house. was sitting. on. that i had to get up on something that. was on the dead level that. doesn't.

get it down so that there's not a second out. names have risen and then our thirty who committed the passage says there was nothing and never was never imposed by now. you can. rule of finding oh oh oh dear it's great oh. been a real good shots few begin murders controls all life. becomes i'm sorry the last community young people are deciding this they want to be not like their parents not like the new liberals. the blacks are always struggling school again you always have problems but your level of focus and walk is the most ubiquitous known out there most police departments

use it almost every stores in the school tell that they could get their hands on economies in twenty four hours. through it teaching these kids a bio racism about police brutality taking cried of them there are these kids are a part of all history. after the previous stage of my career was over everyone wondered what i was going to do next the ball different clubs on one hand it is logical to sort of know from fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to surprising people by salt or not so you think. i'm going to talk about football not for you or else you think i was going to do.

by the way ways of the flying here. seems wrong. when old rules just don't call. me. yet to shape out just because that's ok and engagement equals betrayal. when something find themselves worlds apart we choose to look for common ground.

he's had line news after a day long manhunt dutch police say they've now arrested the chief suspect wanted over the shooting on a tram in which three people died and who tracks also this out. after widespread looting and violence the french government has to ban yellow vest protests in the areas worst hit by violence if there's a radical element to the demonstrations. new zealand moves to toughen its gun laws pressuring social media to do more in its fight against extremism it comes off to the most.