commentary from libertarian economists lou rockwell. israel has offered bold direct talks with the palestinians in new york as a jewish state attempts to halt president abbas's ambition to win u.n. recognition the u.s. also opposes the bid and there has been intense diplomacy to avert a crisis over the move out of stocks which are going to report on the counter efforts that russia is taking to see the palestinian plan go through. russian foreign minister sergei lavrov held an urgent meeting with the u.s. secretary of state hillary clinton now members of the delegation are telling us that even though this is a closed door meeting the assumption is that lavrov and clinton were negotiating the future of talks on the israeli palestinian leaderships the palestinian bid for statehood at the united nations security council is really stealing the show this year we know that palestinian leader mahmoud abbas is expected to present palestine's bid for recognize statehood to the u.n. secretary general ban ki moon in the next days to come and this i

rich but republicans have decried obama's approach as class warfare and libertarian economist lou rockwell thinks the president's plan targets the wrong people. we're getting poorer and it's absolutely true that government connected rich are getting richer so what do we do about that do we punish businessmen who are creating jobs and creating wealth and making things better or do we take some of the stolen goods away from the people in washington away from the oligarchy away from the ruling class i think that's what we have to concentrate on not let the guys at the top which you who obama is working for again soros and buffet in these guns would not let them try to focus our attention on hating the guts of a guy who owns a bunch of a subway sandwich shops he's not the problem he's the solution it's the bankers and all the people who got rich wall street the military industrial complex big pharma it's these kinds of arms of the corporate state that are getting rich far too rich and the other they need to be cut back cutting back cut back government that's what we need to do commentary from

spin is spun we want to take a different look and put this in some perspective earlier i spoke to lou rockwell the chairman of the niece's institute he gave me his thoughts on the president's plan. those just more obama loney i mean first of all these sickos so called cuts by the one signed last month are the ones he's proposing are not cuts at all so they're rather their alleged cuts in the rate of increase which is the way they when they were in washington when they talk about a cut that's what they mean but even that is not in his control he's talking about over the next ten years or who's going to be president ten years from now it's not going to be obama unless there's a coup so in that across the however the tax increase is a real biting hard and immediately would come into effect another way the site is talking about the buffett rule in this sort of thing these things are not going to hurt the buffett or soros or blankfein or jamie dimon or any of the other billionaires and oligarchy in the u.s. they're aimed at as you mention at the young entrepreneur as i mean a business people starti

on the wealthy but republicans have described obama's approach as class warfare and economists lou rockwell believes the president's plan could backfire. those with more of our maloney i mean first of all lisa call the so-called cuts where the one side last month the ones he's proposing are not cuts at all for the rather that are alleged cuts in the rate of increase there aimed at the young entrepreneur as in fact taxes are wealth the structure so anybody proposes more taxes seeks to make those poorer as a group however the elites will make a lot more money out of this the government's going to fall on and indeed the latest census figures show that the median american family's income in this last ten years is down seven point two percent we're going. and it's absolutely true that government connected rich are getting richer turkey is president is in berlin discussing e.u. membership and issues faced by some three million turks living today in germany multiculturalism debate comes at a time when the country is marking fifty years since invading a wave of turkish workers to help boost efforts

come up with a new set of measures in september to try and do just that but political commentator lou rockwell believes fed's measures fall short of helping average americans. it takes a hammer and hits them in the head is what we're still in a recession and that's not going to recovery and one of the reasons is because what the government is doing with the federal reserve is going to hold on interest rates so low to benefit the federal government to benefit the places lawyer goldman sachs and j.p. morgan and just like europe is being raked over the coals to the benefit of the big banks so for americans so the average grow the average yet it is being harmed to the benefit of the elite so what is quantitative easing it's it's money printing and they print this money and it has a horrendous effect on the economy and we're already starting to see prices. not as clothing food many other areas prices are going up a notch already we stand to face really a hyperinflation worse than what happened in the one nine hundred seventy i don't think they're going to put us on this zimbabwe care of a category

economist lou rockwell outlining the shortcomings he sees in president obama's deficit cutting. moving to the middle east now israeli settlers and radical rights groups are gathering in the west bank to protest the civilians drive for sovereignty at the un on friday police forces are highly alert fearing the mass marches might turn violent of settlers and palestinian lands. is their last words the mood among the people what have you have. tensions here are running high and i'm talking among the various israeli settlements on the west bank at the west bank settlement of it tomorrow where today tuesday the largest demonstration is being planned they've been dubbed sovereignty demonstrations and essentially what they are safe is marching to nearby palestinian villages nearby i would villagers to essentially lay claim to this land i was speaking to some of the organizers before i came i have to you and they said that they were expecting several hundred people turned out here today the march is expected to get underway any moment at the moment there are more journalists than proteste

to albany usa we're joined by economist rockwell lew very good evening thanks for being with us lou rockwell from the what was it were you from the little bit of a mrs institute think tank i just wanted to get that out to tell our viewers to give you on the program now given that quite frankly disturbing data from last month what is on the table for america tonight. well barack obama is probably going to propose more keynesian solutions that is more government more government spending more inflation more so-called government jobs government stimulus government payments to the labor unions to build bridges and build roads but all of this is you know we always have to keep in mind there are two sorts of jobs there are real jobs in the private sector where people do work that actually benefit society and people are willing to buy their products and whether you're improving the economy and then there are parasitical jobs sort of anti jobs or government jobs and actually subtract from social well being so what obama's going to try to do maybe he's come to his senses in a lot of some good things t

perhaps the bank should have been allowed to go bankrupt lots of talk about saudi were out of time lou rockwell chairman of the looted think funny says institute thanks so much thank you and as always lots of interesting perspectives on the economy here on our team we will be sure to bring you more but for now we are out of time but for more on the stories we covered go to our t.v. dot com slash usa we also post all of our interviews in our stories on you tube you can find that youtube dot com slash r t america i also like to tweet all the time and if you like follow me on twitter in finance at franzi i want to thank you so much for watching we will be back here and a half hour.

for a nation with twenty four million plasters employed or underemployed i spoke to the congress lou rockwell and told me the proposal to stimulate the economy is an artificial fix. because too much too much emphasis on the president for that matter too much simpler emphasis on the government we have too much presidency worship in this country and everything's the president of barack obama is probably going to. keynesian solutions that is more government more government spending more inflation and more so-called government jobs government stimulus government payments to the labor unions to build bridges and build roads but all of us as we always have to keep in mind there are two sorts of jobs there are real jobs in the private sector people do work that actually benefit society and people are willing to buy their products and where they improve the economy and then there are parasitical jobs sort of enter our jobs or government jobs and actually surprise from sort of the world so what obama's going to try to do maybe he's come to his senses and i have some good things to say i don't think so

he comes from -- his intellectual heroes are libertarians like lou rockwell and people -- and his father. he's a true believer when he comes to that and typically ver stubborn. i'm not sure how much pressure from other republicans is going to do. >> in the meantime the whole country doesn't get improved gas pipelines. joe sonka. thanks very much for joining us. nice to have you here. >> thanks for having me on, rachel. >>> on last night's show we ran out of time because of the breaking non-chris christie news before we could show you our best new thing in the world. while i like the happy stories and the weird stories, the ones i really, really love are the stories that are happy and weird and also a little weepy. so i'm pleased to report we have a deluxe three hankie heart tugger coming up. medi ca card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how