one talks about it a fiscal union or one has to be able to understand what this means the united states of europe need to be thought as the united states of america you know just as america has a central fiscal fiscal agent that's called the united states treasury that does not exist in europe what exists in europe is that every county cannot have a budget deficit above the three percent and to also furthermore that from now on every continent in the euro zone should not even have three percent reduction have a constitutional amendment that it should be even much lower than that even a one percent except in some difficult times this is not what i would call the fiscal union this is it is not possible for every member of the eurozone group to create surpluses so that it is possible to then the euro the euro zone to be in a an even keel based on the definition of. america believes and president sarkozy made a major change stay with you when you were i mean i can say with you in new york of any but when countries joined the european union i'm sorry the eurozone they didn't sign up to this kind of ec

centralized state in europe where all power goes to brussels to the extent that can be undermined by these crises. do you think that it would be even possible to move towards more of a united states of europe or that kind of thing without permanently compromising the sovereignty of nations like greece nor means of course abolishing national authority that means abolishing nations and they want to just have you know just one entity called europe there is no one i mean europe is a conception on a map and there is no such thing as europe except on a map these are there are individual countries and i think all these individual countries themselves have consolidated germany and italy are really many little individual countries the bit of the been consolidated into into nation states that was a mistake too but to compound the mistake by having a regional government that would control all of europe. just a terrible thing taking away people's freedoms making them poor making the government however in the government special interest the banks the military industrial complex the. medical complex all the big interest groups they of course do better but the average people get stepped

together into unions so my question for you do you think that europe will in fact bridge this crisis and move towards more of a united states of europe. i think that would be the worst thing that could happen to europe it's been a very bad thing and then in the united states some of jefferson i was warned against consolidated government as just being an outrage we want the central it's a they said we have government at all we want to decentralize so what's already happening in europe so that the the nations of europe seeing their their political thorough authority if it's going to be exercised at the smallest level possible to transfer it to brussels to washington d.c. or you know a lot of people advocate a world government this is this is tyranny with a capital t. so to the extent that the greek crisis and other crises in europe which of course the consolidators angola merkel and the rest of these people are trying to use to create a centralized state in europe where all the power goes to brussels to the extent that can be undermined by these crises for a do you think that it would be even possible to move towards more of

with one talks about it fiscal union or one has to be able to understand what this means the united states of europe need to be thought there's a guy that states of america you know this is america has a central fiscal fiscal agent that's called the united states treasury that does not exist in europe what exists the euro is that every country cannot have a budget deficit above the three percent and to paint all.

one has to be able to understand what this means the united states of europe need to be thought is the united states of america he understands america has a central fiscal fiscal agent that's called the united states treasury that does not exist in europe what exists in europe is that every country can have a budget deficit above the three percent and to that and also for a good mile or so from now on every continent in the euro zone should not give in have three percent reduction have a constitutional amendment but it should be even much lower than badly.

through a ballot box so i think that although there are many europeans who would like to see a united states of europe there are many who would not and this question is why. did we all sign up for this issue today is that the debt burden is so severe that people will sell their sovereignty for cash right now but will they actually deliver what germany is expecting and i fear that we're going to have a meltdown have a breakdown because even though they promised they're not going to deliver because they've actually also in london i mean i've used it where is the political will right here because it seems to me and it was absolutely right you know merkel just wants to win the next election it's not a cozy is praying he's going to get in and then we'll worry about it then i mean it's kicking the can down the road just keep taking it down because the politicians have no political will they have no. fortitude to really deal with this issue because again the at the end of the day it is bailing out banks the bankers get paid everybody else gets screwed. well the issue goes back to what we started our discussi

looking for democratic solutions i've always believed that if you are going to form a new united states of europe you can only do so through free and fair referendums only do so through consent and that consent has not been given and in the case of greece and portugal and spain the prospects are very bleak indeed i do not want a rise of extreme fascist nationalism in europe but i'm terrified that the e.u. itself is now so powerful and so determined to keep up with its own failing policies that we may well be driving people into this position. it's quite a warning coming from nigel farage the leader of the united kingdom independent party. right intention oh so far let's lighten it up a little bit let's bring in dimitri kofi anna right here in studio and shannon donahoe in the control room our producer is to talk about this which is actually kind of an alarming finding of a main street dot com just came out with a list of the u.s. is the richest counties and just guess who dominates the standing the d.c. area take a look at the top three ok look at the median household incomes they are six figures

in some ways, right, a lot of it makes sense but what you don't have is you do not have a united states of europend when you don't have that kind of national unity behind it it's hard for each individual nation to say, fine, wall put in austerity measures so you can keep giving us money to allow us to pay off our debt. at some point what you do need is you need growth, you need to get out of the recession. and then you need to be able to reduce your debt. and until those debt levels are reduced, this is coming from my lens as a restructuring lawyer, until you reduce that to levels that work, you are not going to get out of this economic decline. >> still more to come. report earnings before the bell. we'll be right back. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reduci

united states to this eruption of world crises? >> they were isolationists. >> so what did they enact? >> neutrality act. >> right. basically designed to keep the united states, what? >> out of war. >> out of war.lluninvolved with quarrels in europe. critics to the time said these were acts perfectly designed to keep the united states out of world war i. by this time, most americans thought it was a mistake for the united states to get involved in world war i. most americans wanted to keep america out of foreign crises. time and time again, starting in 1935 through 1938, against roosevelt's wishes, congress passed a series of neutrality acts, pretty much tying the hands of the president, making it very difficult for the president to respond to foreign crises because he couldn't make distinctions between aggressors and victims. and the congress had also rejected something else roosevelt wanted. that was american participation in the world court. we were not members of the league of nations, but we could still be members of the world court. roosevelt, who understood the dangers abroad and was not an isolationist, was an internationalist and wanted america more involved, gets rebuffed. congress won't ratify america joining the world

of need two countries. russia feels compelled to take countermeasures because the united states has refused to give legal guarantees demonstrating that the deployment of the american missile defense system in europe is not directed against russia. nato countries are in the list scripts the deployment of their military installations to europe. new american military bases may soon be set up in kazakhstan. turkmenistan and tajikistan. once russia has been encircled by military bases as a new geo political reality will emerge we need to take this reality into account already today but take measures to control potential threats to our security. meanwhile the view that the missile defense shield is too expensive is getting increasing currency inside the united states itself to provide financial backing to the armed forces more of the project is making millions of dollars from nato subcontractors inferiors countries. between two thousand and five and tooth. nine the u.s. has spent fifteen billion dollars and the price paid for the entire program that we are dealing with right now here in two thousand and eleven is another hundred fifty billion dollars that's larger than many country's entire military bu

variety of threats that are currently in the air number one the environmental problems that we're having in the united states and supports fracking is concerned the possibility of nuclear accidents in europe and japan and the united states again the problem the possibility or rather if not probability that in the united states are going to have severe capital controls and you already have capital controls in europe so i think that all of these would lead you to think that probably the southern hemisphere is where you have to go now the other him as a mystery or being south africa australia new zealand show. lee argentina your wife those seem to be the countries that would be the safest to go but the same time you have certain environmental problems that are going on in chile and so far as pollution and sound jago you also have a fairly strict control system they don't want money to just fly in fly out of chile and so you have the possibility of that then in australia new zealand you have the possibility that the australian and or new zealand government will wind up cooperating with the american government in terms of extraditions in terms of you know renditions stuff like not so each of t

to keep on not lending money to the united states and the chinese have problems of their own and do very worried about it that's one of the united states and europe because after all china is producing goods and services for the european market markets and if those two markets begin to tank china begins to have trouble and course there's a task between the chinese companies probably and the chinese people whereby the party controls political power in exchange for giving employment to the chinese people now that tacit agreement is broken and you're going to have riots and essentially our spraying in china which nobody wants so you know it's in everybody's best interests is the vision should running smoothly and for china to tell europe and united states get out of this recession depression by any means possible while the same time the trade is a big issue between the two countries right now us china and chinese trade deficit right now that to twenty two hundred ninety five billion dollars now when the president is giving a state of the union address event last month he announced this trade enforcement units that would be investigating things like

of missile defense components in europe. russia has not closed the deal it will continue until it with the united states and nato on the missile defense system it is ready for practical cooperation in the sphere. the of. elitists . says.