printed for the 2008 crisis well here we have seen carstens he's the former head of the bank of international settlements and we prince tweets about him central bank interventions to quell the crisis need to reach the individuals and businesses who are all tamale affected the last mile of this channel is not yet in place and needs to be bridged urgently so he's talking about these trillions of dollars that are going to be handed to the same banks they got that in 2008 j.p. morgans of the world citibank bank of america all that stuff but the problem is especially in the situation it's not those big banks that are having a liquidity crisis as it was back then or credit crisis or credit crunch it's these small and medium sized enterprises that operate all the goods and services and deliver all those goods and services that they're the ones that are in trouble at the moment you know the last mile distribution in terms of money the former bank of international settlements. guy is talking about is explicit lee picked a graphically portrayed and a money velocity chart that we spend showing for a few years money

formally with the oecd and bank of international settlements, we are thrilled william white could be changed economics with sprawling history of economic theory for the dallas fed -- "ultra easy monetary policy and the law of unintended consequences." even you could not see a pandemic coming. let me ask the money question. we are in the all-time ultra easy time of easy money. can we get back to what we once knew? william: i think the world will change in a fundamental way. it is thatd why people do what they do during crises. it is the old john wayne line that he never said, a man has got to do what a man has got to do. the problem is, each time you do it it makes it more difficult to deal with the next time there is a problem. i have been saying for at least 20 years we have been on a bad path in terms of debt accumulation and should get off it, but every time a problem emerges, it is the same answer. i am pleased to say in a way that up until now it has worked and has brought the economy back to something close to normal, albeit with these side effects like more debt and markets tha

printed for the 2008 crisis well here we have seen carstens he's the former head of the bank of international settlements and we prince tweets about him central bank interventions to quell the crisis need to reach the individuals and businesses who are all tamale affected the last mile of this channel is not yet in place and needs to be bridged urgently so he's talking about these trillions of dollars are going to be handed to the same banks they got that in 2008 j.p. morgans of the world citibank bank of america all that stuff but the problem is especially in the situation it's not those big banks that are having a liquidity crisis as it was back then or credit crisis or credit crunch it's these small and medium sized enterprises that operate all the goods and services and deliver all those goods and services that they're the ones that are in trouble at the moment you know the last mile distribution in terms of money the former.

banks are warning that the coronavirus pandemic could drop the global economy of more than $5 trillion of growth over the next two years, greater than the annual output of japan. the bank for international settlementsned that disjointed government responses could make things worse. sheila patel is chairman of goldman sachs asset management. great to have you with us on the show. thank you so much for joining us. what is the outlook of goldman sachs in terms of potential hit to global growth over the next two years? some wall street banks out there calling for a $5 trillion hit in the next few years. meila: think of for having and for bringing content in these conditions. your great team is making it all worked. i think as we look ahead, there are things we can know and things we cannot. a global hit to growth but i'm not sure that order of magnitude has quite resonated with this yet. as we look at what we know versus what we don't know, were focused on the question of a rolling recovery. some sectors will rebound more quickly while others lag significantly in a changed world which investors are seeing for themselves. i'm used to speaking to you after multicountry tour. in this case i'm coming from

of state is said and next in the occupied west bank is a decision for israel the plan was put forward by israel's government ahead of elections earlier this year settlements are considered illegal under international law we're glad that there is a now fully formed government in israel. in the west bank. the israelis will ultimately make those decisions as an israeli decision we we will work closely with them to share with them our views of this approach with. south africa's president has announced a $26000000000.00 covert $900.00 rescue package and more than $70000.00 soldiers nearly the entire standing army being deployed to enforce a lockdown to prevent more coronavirus cases they'll join namely $2300.00 personnel already on the streets it's one of the largest army deployments in the country's history the u.k. government has again come under fire for its response to the pandemic this time by the new leader of the opposition it happened during the 1st virtual session in parliament 700 year history the u.k.'s foreign secretary standing in for prime minister barak johnson was forced to defend its record on covert $900.00 testing and supplies of protective gear for doctors and nurses. spain's parlia

succulents are not illegal which are considered good on their international law of course which i think both israeli settlements in that occupied west bank including east jerusalem this administration enjoyed a very close relationship with israel namely between the u.s. president donald trump and the israeli prime minister benjamin netanyahu we've seen moving the u.s. embassy from tel aviv to jerusalem considering jerusalem the capital the u.s. has cut funds to the owner one which is the u.n. agency that deals with the fiji it's which was seen here as a way to kind of in the mineta and end the issue of refugees which seems to us also canceled or basically shut down the p.l.o. didn't present this of office in the field so all of this is seen as. known to palestinians they've been trying to convince the world truly see they let you in the crowd see how israel is using the fact that trump is in power to push for more . deals or push for more an extension on the ground reality on the ground we have to say family might not be different for palestinians they are already living under israeli occupation and many settlements enjoy having that the

state says annexation of the occupied west bank is a decision for israel to make sensually sounds like green light in settlements widely condemned of course as illegal under international law might compare with speaking in washington d.c. let's go straight now to harry for soup he's joining us from west jerusalem harry i imagine music to his radio is. well some israelis most certainly will music. certainly to benjamin netanyahu and his followers it will be i think we have to be a little bit cautious as to exactly what it means whether it's for green light carte blanche do what you like because there is still a process going on a mapping process. with israeli and the united states officials trying to delineate exactly which parts of the the occupied west bank under the cushion of peace plan are able to be annexed by israel but it is clear that that this is a very strong signal of support from the u.s. administration from the u.s. state department and might pompei o it's worth remembering exactly what happened earlier this year when the trump peace plan was announced initially the u.s. ambassador here david friedman using strictly process film and he told the media that

of state has said and exiting the occupied west bank is a decision for israel the plan was put forward by israel's government ahead of elections earlier this year settlements are considered illegal under international law. the u.k. government has again come under fire for its response to the pandemic this time by the new leader of the opposition it happened during the 1st virtual session in parliament 700 year history. or the end of the week muslims around the world will begin fasting during the month of ramadan is usually a time for family gatherings and gatherings for the faithful of the pandemic is presenting new challenges in saudi arabia prayers will go ahead at the holy cities of mecca and medina but with no worshippers every year in indonesia millions of people travel to visit their families during this time this year they're not allowed to make that journey in turkey public meals abandoned the government says it will consider closing streets of people gather from a stumble across all who has more on the preparations. turkish citizens are getting ready for a 40 curve here that will begin at 00 local tonight and will be valid for 4 days across 31 cities including istanbul in turkey and people

boycott of the country over its settlements in the occupied west bank also in january you were barred from entering hong kong for a news conference spotlighting beijing's deepening assault on internationalorts to uphold human rights how do you have a positive impact in countries that accuse you of bias or won't allow you to work there how do you change your methods. well 1st i'm each of those cases totally backfired on the part of the government so the chinese government blocked to me from holding a press conference in hong kong releasing our annual world report where we spotlighted china's efforts to undermine the global human rights system and they're blocking me ended up being exhibit a we got massive media attention when they blocked me and 2 days later i held a press conference at the united nations in new york and got massive attention again so they totally shot themselves in the foot similarly with israel human rights watch has never endorsed a boycott of israel but the reason they expelled our research it was because she had been instrumental in highlighting israel's eagle settlements in the west bank and particularly the companies that are making those settlements possible by p

of the u.n. security council rebuked the trump administration's announcement that it no longer considers israeli settlements in the occupied west bank illegal under international law. in more news from the middle east, a palestinian refugee camp in lebanon has reported its first coronavirus case. the palestinian woman has since been reportedly taken to a hospital in beirut. at least 3000 other refugees are housed in the wavel l refugee camp. this comes as public health officials and human rights advocates warn of the threat off catastrophic outbreaks i in crowded refugee camps around the world that lack sufficient sanitation and medical supplies. i federal appealals court isis allowing the state of ararkansas to enforce a ban on most surgical abortions. arkansas officials have deemed abortions to be "not essential" or urgent during the coronavirus outbreak. meanwhile, a ban on nearly all abortionons in texas during thte pandemic appears to be over as clinics began to offer the procedure again starting on wednesday. and those are some of the headlines. this is s democracy now!, democracynow.orgrg, the quarante report. i'm amy goodman in new york,k, e center of