there was a real sense of hopefulness 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 trying it more closely the inequality comes from the extreme wealth in a tiny sector of the population fraction of one percent. there were periods like the gilded age in the twenty's and the early ninety's and so on when a situation developed by the similar to this. now this period 6 trillion because if you look at their wealth distribution to inequality mostly comes from super wealth

. literally the top 110th of a percent are just super wealthy. not only is it extremely unjust in itself. inequality as highly negative consequences on the so it is. 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 classman diluted it will infuriate you were kurds get rich it was possible for a worker to get a decent job. get a core of children go to school. to a collapse. imagine

yourself in an outside position looking for mars. what do you see. in the united states when 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. to not proceed 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 a 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 776 he read the famous wealth of nations. he says in england the principal architects of policy are 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 selves 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 a 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 wealthier there are 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 says the major concern of the society has to be to protect the minority of the opulent against the majority. and hear arguments 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 he 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 1st 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 it. if athens were a democracy for free men the poor would get together and take away the property the rich. well the same dilemma they had opposite solutions aristotle proposed 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 2 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 1906 for example were a period of significant democratization. sectors of the fabulous sure that were usually passive and the city became organized active story pressing their demand. and they became more and more involved in decision making activism and so on. they just changed consciousness and.

minority rights. we don't want. did. women's rates. force it to say. in terms of the environment. america has a. nice a boring of my own safety that's all survival opposition to aggression did i was to size us. serious about lawn on. the vietnamese people black people and people concerned for other people one. 1000000 poor people in america when you begin. to reason a. system of distribution of wealth. restructuring

american society these are all symbolizing effect. and that caused great fear. her. anticipated the power of a should have but it didn't then to speak 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. we have a situation that is very new and that's why. i feel

like before the war we're through with people who are no more in the. and there was no end to the school board you know the 2 so the boy it was through to the end of the world through and. through the as a medical man the widespread simplicity is good for people today the in many diseases because of this good you fool the. southwest the sea on his attorney the name for you get born one who was a little did he. know it. was a mule if they give you to your neighbor out of those who know people you supposed to know it's going to be pretty i was fit. and that's the tonic and.

if you ask if that's their finish if you're not that you give. after the previous stage of my career was over everyone wondered what i was going to do next the pope the ball different clubs on one hand it is logical to sit in the home field where everything is familiar on the other i wanted a new challenge and a fresh perspective i'm used to surprising people and i saw one not if you think. i'm going to talk about football not 3 or else you can think i was going to do. by the way what is it that sliding here.

you know world big partisan movie 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 path 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 watching closely watching the

hawks. join me every thursday on the alex salmond show and i'll be speaking to guest on the world of politics small business i'm show business i'll see that. there has been an enormous concentrated coordinated business offensive beginning in the seventy's to try to beat back the golan tarion efforts that went right through the nixon years and you see it in many respects women over on the right you see it in things like the famous powell memorandum. sent to the chamber of commerce major business lobby but later supreme court justice powell warning them that business is losing control over the society. and something has to be done

to counter these forces. of course it puts it in terms of defense defending ourselves against outside power. but 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 the 1st. major report of the a trilateral commission is concerned with this. called the crisis of democracy. trilateral commission is liberal internationalists in their flavors indicated by the fact that they pretty much staff the corridor ministration.

they were also told that democratizing tendencies of the sixty's and so we have to react to it. they were concerned that there was an excess of democracy developing. previously passive and obedient parts of the population or sometimes called the special interests who were beginning to organize and try to enter the political arena and they said that imposes too much pressure on the state you can't deal with all these pressures so therefore they have to return to passive that they become the politicised. and they were particularly concerned with what was happening to young people the young people are going to 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. 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 have be as good 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 unparalleled this. was just redesigning the economy.

since the $1970.00 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 2 crucial respects one to increase the role of financial institutions banks investment firms and so on insurance companies. but a $2007.00 break before the latest crash they had literally 40 percent of corporate profits. far beyond anything in the past. back in the 1950 s. 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 buying our way to. money. on the back of. a bank. be highly providing an. outing money. to the community by making. money for a manufacturer or on going hiking how many. are going to money on a 100 why people are always needing more and i haven't been. that's a contribution to the economy. regulatory system was established banks were

regulated the commercial investment banks were separated cut back for risk in this practices that could harm private people. there had been remember no financial crashes during the period of regulation by the 1970 s. that changed. the sort of getting that huge increase in the flows of speculative capital just astronomical increases 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 1970 s. say general electric can make more profit playing games with money than you could buy producing 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 oil sure into production. 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 stickily 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 well 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. policies designed to increase in security. alan greenspan and when he testified to conquers he explained his success in running the economy as based on what he called greater worker insecurity. a typical restraint. compensation increases has been evident for a few years but as i outlined in some detail in testimony last month i believe that

job insecurity has played the dominant role of workers in security 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 union and. now for the masters of mankind that's fine they make their profits but for the population it's devastating. for these 2 presses financial ization and offshoring are part of what led to the vicious cycle of concentration of wealth concentration of power.

when gold make this manufacture consent to instant of public wealth. when the running clubs assume protect themselves. with the financial merry go round listen to the one percent. with no middle of the room sick. going to the real new. kind of financial survival job today with the money laundering 1st to visit this campus into 3 different. oh good this is a good start well we have our 3 banks all set up here maybe something in your something in america something overseas or cayman island to do all these banks are complicit in the kleptocracy who decide to give my phone and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got home got

a nice laundry cloche for max and for stacey old beautiful jewelry and how about cutting luxury automobile again for max you know what money laundering is highly illegal. watch cars record. show small seemed wrong but old quotes just don't call. me old yet to stamp out disdain comes to agitate and in games from an equal to trail. when so many find themselves worlds apart we choose to look for common ground. what is it calling the coin is magic internet a new type of digital currency essential lies digital scarcity chancellor.

of 2nd or bank that's called it got us a lot for a reason to coin a civil disobedience a source of optimism because i can control my own financial destiny it's just a new way of coming to consensus it's a game changer in the human history and this is columbus discovering the new world this paradigm shifting technology that transforms economics and finance in a heartbeat the apollo 11 landing on to the moon with max and stacey. in 24 you know bloody revolution to the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know we hear i mean you know i lived with video through me in the neighbor lose out on the school in the middle of the former ukrainian president recalls the events of 24. those who took part in this to do over

$5000000000.00 to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. politicians. they put themselves on the line they did accept the reject. so when you want to be president and you. want to. have to go right to be approached this is what will befall 3 of them or can't be good. i'm interested always in the water. there should.

well. in the week's top stories investigations continue into a plane crash in russia they killed 41 people the air of long line of bust into flames whilst making an emergency landing in moscow. the top diplomats from russia and the u.s. put their heads together in attempts to find a way forward of the crisis in venezuela they said to meet again on tuesday. and iran partially suspends the 25th day nuclear agreement and gives its signatories and.