well you know if one of the instruments but they haven't you know mayor since the trade center city.

during the great depression which i'm old enough to remember there was and most of my family were unemployed working class there wasn't it was bed you know much worse subjectively than today but there was an expectation that things were going to get better. 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 a find it more closely 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 tree because if you look at their wealth distribution the inequality mostly comes from super wealthy. literally the top 110th of a percent are just super wealthy. not only is it extremely unjust in itself. inequality has highly negative consequences on this so it is our fault. because the very fact of inequality has a corrosive harmful effect markers. to open by talk about the american dream or the american dream is classman dillard it will encourage you or kurt. get rich it was possible for a 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 776 he read the famous wealth of nations. he says in england the principle 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 our 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 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 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. he says of all of them the best is democracy and at any point said exactly the flaws that manderson pointed out. if absent 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 to try to reduce inequality. so the same problem absent solutions one is reduce inequality will have this problem

and the other is reduced monikers. 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 regression periods of progress in 1906 for example were a period of significant democratization. sectors of the folk elation that were usually passive apis it became organized active story pressing their demand.

and they became more and more involved in decision making activism and so on. it just changed consciousness and always. minority rights. we don't want. women's rights. in terms of the. american is. seeking to survive opposition to the creation. criticize us. dissent they are serious about law. and the vietnamese people black people and.

in turn for other people. are millions of people in america when you begin. to reason a. system of distribution of wealth. is a rule symbolizing say. that caused great fear. her . i hadn't. anticipated the. earth should have but it didn't anticipate the power of the reaction to the civilizing effects of the sixty's i did not anticipate the strength of the reaction to it. the

backlash. seemed wrong. to say palin. just to come out to. a close betrayal. when so many find themselves worlds apart. just to look for common ground. and you try and be professional you try and leave it outside the door you try and put in the come up compartments in the eyes it's new bright and so you can forget about it but nephew by little these. these little spits come and for

me it was actually putting some ice into my wife's glass of gin and tonic and the saw it and the sound of the ice cream to the glass reminded me of how we had all these cool in bali which was with bags of supermarkets on ice. this is a story about what happens auster a stray bullet kills a young girl in the streets. who happens to have family and daughters in florida the other daughter is buried in a cemetery it is meaningless is it your head what happens to the community the public was screaming for a scapegoat the police needed a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pin this on than him and what happens in court the big. shot after shot as far as a side deal that we don't know still just for the. end of this trial

unfortunately you. will still not know what childress. there has been under norma's concentrated coordinated business offensive beginning in the seventy's to try to beat. back the gallant tarion efforts that went right through the nixon years 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 business is losing control over the society. and something has to be done to counter these forces course he puts it in terms of 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 the 1st. major report of the a trilateral commission is concerned with this. called the crisis of democracy.

predator a commission is liberal internationalists in their flavors indicated by the fact that they pretty much staff the corridor ministration. and 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 pressure. there's so therefore they have to return to passivity become the politicized. 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 and their phrase 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 1970 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 break before the latest crash they had literally 40 percent of corporate profits. far beyond anything in the past.

back in the 1950 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 buying our way to. money. on the back of the reserve bank. beehive providing any. money. to the community by making. money for a manufacturer or ongoing high. remodel who are going to money

out of the white people are always needing more and i have a media. 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 1970 s. that changed. the story getting the huge increase in the flows of speculative capital just astronomically increased and 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 and 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 by 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 sort 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 well again going back to the classics like adam smith as he pointed out the 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 outlined in some detail 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 unionized. 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 i'm sure are part of what led to the vicious cycle of concentration of wealth concentration of power.

in a 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 bath 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 we're watching closely watching the hawks. when we all make this manufacture consent to instant of public wealth. when the ruling class is protect themselves. when the fine and merry go round lifts only the one percent. we can all middle of the room signals. room mean real. you.

know pretty you would know the moves through but in your circles modesty. and you can do that when you look for the good little girl with 3 minutes to do more than do. you want to go to produce you're already in the eastern seaboard you know your limits seems to treat. cities. that. half the country for that's part of it it's a poor country a sum of calda you've got. stock markets that are owned by call

time percent of the population most of us. and there are what else it is for. it's a condition that the core americans don't want to cop to it's hard core but the fact is now you've got 150000000 people america. dish you will not obey the voice of the lord you're going to do all these commandments and the statutes. in all these courses shall come upon you and overtake you. and then the white people the stolen property and the point must pretend to black people. they get rid of whites only problems will go on. the local folks need to think. the president of the fleet. wide fall is in so we go every single day. people being

tortured to death expression the l. . people in the film. somebody. may in the. white horse will find themselves affected by a crash and. point to one of my teens and pre-teens it's all sweats and a lot of. what are you going to have for dinner should they be doing anything i'm asking for a nice cold feet or civil war in south africa never to. profit from. our search and be in the total viewer and to predict.

who will get to. move results not just on. the news and. fears of a biased trial a us federal judge condemns the justice department's absolute stunt cheated played by the russian firm indicted for election meddling was bankrolled by the kremlin saying they could sway a jury. the british ambassador to the united states resigns over the leaks cable scandal which is private e-mails exposed to far from glowing review of donald trump and his administration.