will answer those questions for us is dean baker his economist and co-director of the center for economic and policy research dr baker it's so nice to have you on the show absolutely so i want to start with the technocrats who are in charge and the two oldest capitals in europe they are unelected they are former bankers and as i said they're running the two oldest capitals in europe so have really reached a point in the west. where we're not at risk of losing our democratic liberties and democracy but where it's already gone what once it's already gone i mean the it was sort of brought out this was brought about through a democratic process i mean these were parliaments that pushed these people in but i can certainly understand the people in both greece and italy feel like a quasi coup took place i mean they did not vote for these people they had constraints put on them by the european central bank by the i.m.f. from the you know the european union and they were given very very little choice so i can certainly understand a lot of resentment there but it did happen through a democratic pro

as well as my response to it apocalyptic a one wrote sorry dean baker but you failed democracy one o one don't spout nonsense about parliamentary democracy where exactly it's like ministers must be elected representatives if you don't know anything about it dean too bad lauren didn't know enough to call you out now might corbell disagree responding to this you are saying i think dean baker is right and i think you're right in terms of what democratic principles should be or are in theory just that he evidently is right about how democracy operates in europe or in countries with parliamentary governments he wasn't speaking of democratic principles themselves now whether you agree with dr baker's view or think that i didn't question him and challenge him about it enough after that we did delve into unity governments more to explain how they're formed in poller parliamentary governments and under what circumstances so i want to make sure that you didn't miss when we defined unity government for word of the day. all right it's time now for word of the day where we break down a financial t

tonight that's it for tonight's show thanks for tuning in if you enjoyed our hollowing special dean baker is going to be back on the program tomorrow now in the meantime got to get to become a fan of the on our show on facebook and follow us on twitter and if you missed any of tonight's or any other nights you can always catch the you tube dot com slash the only show coming up next if it's. told. me it is eve he gave me he. says. hello i'm tom are going to washington d.c. and here's what's coming up tonight on the big picture big picture team has the night off for the new year so we wanted to share with you two of our conversations with the great minds that we think are just as important today as they were when they first aired a few months ago we'll begin with another look at my interview with author environmentalist and activist bill mckibben a true advocate for the planet and a man who's don't grow.

tonight that's it for tonight's show thanks for tuning in if you enjoyed our hollowing special dean baker is going to be back on the program tomorrow now in the meantime don't forget to become a fan of the on our show on facebook and follow us on twitter and if you missed any of tonight's or any other nights you can always catch the you tube dot com slash the only show coming up next if it's. world. science technology innovation all the latest developments from around russia we've dumped a few jerks covered. there's a stork moment. a new day as. we came a we saw what did we conquer tonight take a look at the effects of an eight year long. there are so many mistakes committed by the u.s. military especially in. here. to mention one tree and what about our legacy tonight we'll have a special report from the country to get their take on the american presence in iraq.

tonight that's it for tonight's show thanks for tuning in if you enjoyed our hollowing special dean baker is going to be back on the program tomorrow now in the meantime don't forget to become a fan of the on our show on facebook and follow us on twitter and if you missed any of tonight's or any other nights you can always catch the you tube dot com slash the lower show coming up next. wealthy british stock. market why not. find out what's really happening to the global economy with max cons or for a no holds barred look at the global financial headlines tune into cars a report on. download the official location on the phone on pod touch from the storm. watch on t.v. to life on the go. video on demand on t.v.'s money fuel costs and feeds now in the palm of your. question on the dot com. close up team has been to new stuff birthplace to the most ambitious football club in the world. if not all of our g.d.p. goes to the far east where the timber industry affects the legendary siberian tigers where the ancient native community loses its weight in the modern world. and where the country's men

the federal government could come in -- i mean, dean baker, an economist i really admire said, if wes, we would give the states the same deal we gave the banks. lend to them at zero percent. >> some will reject it -- >> right, right. politics at state level. >> we're not going to take federal money. >> both parties are participating in an unsustainable economy. we cannot borrow -- >> that's not true, buddy. it's sustaining the big banks. it's the 99% not being sustained. >> where i come from, sustained to me are families. individuals. plain americans. >> i agree with you. >> this is unsustainable. >> what i'm saying is we have two issues. you talked about congress having their head in the sand like an ostrich. the trouble is the thing that supports congress, which are special interest groups and banks, are profiting from that stance. so we -- >> yes. >> the reality of what we're dealing with is the consequence of failing prals. it's not even critique the president is invalid. i think the critique is fair. that doesn't mean the reality recognizing 99% is on the move, recognizing part