well first of all what wasn't covered the f.t. one hundred twenty five your birthday party was mervyn king popping out of a cake making. and his moves were dangling. you know tony blair was there a backup dancer pole dancing in the background with his moves and then david cameron took out the biggest movie of all if you notice that walrus beach waterspout let's get back to this idea that mark carney thinks the way to stimulate the economy in the u.k. is by expanding his balance sheet from roughly two trillion pounds in debt to what he's saying now nine trillion pounds of debt on a one and a half trillion dollar economy you're right it would be like iceland right before a collapses but this is exactly what we're talking about be saying to the world bank's give us your toxic debt give missed the flop the junk the collateral that's worth paying the zero on the dollar put it on the balance of the bank of england and we'll give you gilts priced at one hundred cents on the dollar which then you can use collateral to keep your ponzi sche

well first of all what wasn't covered the f.t.'s one hundred twenty five your birthday party was mervyn king popping out of a cake. and then his moves were dangling. tony blair was there a backup dancer pole dancing in the background with his moves and then david cameron set out the biggest movie of all if you notice that walrus beach waterspout let's get back to this idea that mark carney thinks the way to stimulate the economy in the u.k. is by expanding his balance sheet from roughly two trillion pounds in debt to what he's saying now nine trillion pounds of debt on a one and a half trillion dollar economy you're right it would be like iceland right before a collapses but this is exactly what we're talking about be saying to the world bank's give us your toxic debt give missed the flop the junk the collateral that it's worth a penny to zero on the dollar put it on the balance you the bank of england and we'll give you gilt price that one hundred cents of the dollar which then you can use collateral to keep your ponzi schemes goi

you mentioned here they're willing to expand their balance sheet and this is another thing that the f.t. party conversation turned to he mark carney said the range of assets we will accept in exchange will be a wider look let's be clear about something if mark carney were honest he'd be wearing a dress but mascara full makeup and parading around in front of the bank of england sashaying around and basically doing his job as a pimp for the real estate speculators here in london that's his job carney is a full stop and if you open up to the bank of england you'll find nothing but use condoms and a bunch of disgruntled customers who spent all their money on two dollar hookers in the real estate speculation steph spit known as the city of london continue on this because it gets worse so he said we're we're willing to accept a wider range of assets so-called acid use condoms is one way that's euphemism for use condoms extending to raul loads that's euphemism for or some of the things in the kama sutra which you can't describe on this show because it's a family show. it sounds like the gutter

differently look you will not achieve justice in such a way so i will make a switch and change the f.t. tube look the historic circumstances the graphic circumstances a little to base the talks old the fact that we are strong and they're weak but if you look at the palestinians themselves they don't look very politically united either why is that i mean they had of israel again or a palestinian lack of engagement. it's a tragedy what's happening to them this rift between the fatah and hamas is look only dividing them almost half in kind of power lies inc there it's also effecting the easily position because these were only say let's say we have an agreement with. the can define them or do it side will double the wrist with it while to come us with it both gaza so why do we know if we do it if peace with the whole. people it's a big problem it's an additional problem that the problems that we had in the past when we were negotiating with them. i want to touch upon another huge topic from is route iran iran on one hand could be getting closer to its new clericals on the other they have s

differently look you would look at chief justice in such a way so i would make a switch and change the f.t. tube. the historic circumstances the graphic circumstances look the base the talks all the fact that we are strong and weak but if you look at the palestinians themselves they don't look very politically united either why is that i mean they had of israel again or a palestinian lack of engagement it's a tragedy what's happening to them this rift between the fatah and hamas is not only dividing them almost half in kind of power lies inc there it's also effecting the easily position because the israelis say let's say we have an agreement with. with her they can define them or do it side will double the wrist with it while to come us with it both gaza so why do we go if we do a live peace with the whole team the people it's a big problem it's an additional problem that the problems that we had in the past when we were negotiating with them. i want to touch upon another huge topic from is route iran iran on one hand could be getting closer to its new clericals on the other they have show

know i love these rare moments where action of something fairly sounds positive to share with you the f.t.'s work in the band partially hydrogenated oils which are the leading source of trans fats and foods and possibly the cause of up to twenty thousand heart attacks per year across the usa according to f.d.a. commissioner margaret hamburg as you know i would like the chemicals in my food kept to a minimum but the thing is the people at the f.d.a. are surely aware of all the hormones and beef and jim o's being produced why does this band have such a very narrow narrow focus in fact when you look at all the things that americans consume smoke use that to swear health some get the vile. band hammer while others are completely tolerated if you ever talk to a hardcore marijuana smoker they'll tell you what do we does better for you than beer and that's legal then and they kind of have a point i think there is this is one of those rare instances where a balanced position isn't really a good idea well the country could go the libertarian route at let it be everything be legal let people make t

for the bond market and all industry that's in the news there's a lot of gulping air there and the f.t. reports that toil for oil means industry songs do not add up so rising costs are being met only by an ever smaller increases in supply this is the w.e.o. the world energy outlook published by the international energy agency max and they say according to the two thousand and thirteen w.e.o. the total world oil supply in two thousand and twelve was eighty seven point one million barrels a day an increase of eleven point nine million barrels over the seventy five point two million barrels per day produced in two thousand only one third of that max comes from conventional oil two thirds of it comes from unconventional crude which is light oil oil sands and deep ultra deepwater oil and they come with a higher cost. the other is natural gas liquids and gels and they come with lower energy density so you're putting a whole lot more money in and getting a whole lot less energy out right so that is the definition of peak oil so if you look at the economics of the oil industry the world hit pe

the economy so they're directed by by the government for the public now like you mentioned there's no f.t. i see model in. what other countries employ the model that is public the public model that is close to rico's model and is it only appealing to those countries that don't have such backing like f.d.a. . well even in the us it would behoove our government to put its money in for local governments to put their money in their own banks because they they too could lose their money the f.d.i.c fund only has thirty two billion dollars in it to insure six trillion dollars so we're we're into a false sense of security if a big bank goes down j.p. morgan for example has a trillion dollars in deposits america has a trillion dollars in deposits and they both have over seventy trillion dollars in derivatives and because glass steagall has been repealed they are allowed to coming their deposits and their investments so if they did another big derivatives bust like the one that we saw with lehman brothers in two thousand and eight and if there is no government bailout as the government has said th

for the bond market and all industry that's in the news there's a lot of gulping air there and the f.t. reports that toil for oil industry songs do not add up so rising costs are being met only by an ever smaller increases in supply this is the w.e.o. the world energy outlook published by the international energy agency max and they say according to the two thousand and thirteen w.e.o. the total world oil supply in two thousand and twelve was eighty seven point one million barrels a day an increase of eleven point nine million barrels over the seventy five point two million barrels per day produced in two thousand only one third of that max comes from conventional oil two thirds of it comes from unconventional crude which is light oil oil sands and deep ultra deepwater oil and they come with a higher cost. the other is natural gas liquids and gels and they come with lower energy density so you're putting a whole lot more money in and getting a whole lot less energy out right so that is the definition of peak oil so if you look at the economics of the oil industry the world hit peak oil

f.t.>> i think about it, you've done pretty well this year, whether it's been some of your calls on social, some of your calls on biotech. wouldn't you agree? >> i've been in some hot spots with social mobile. oil, thank you to mark pappa, biotech, thank you to bob -- >> but beyond the stock picks, if you watch your show, you're going to learn about these industries. >> thank you, that's what it's about because i'm going to make mistake. people maybe goes to 50 and i've kept people out there. the idea is to learn why twitter got there and why container store got there and maybe people get smarter. it's not about stock picks. it's about making people smarter. >> i'm keeping an eye on directv, charter communications, both of which reported earnings this morning. directv looked pretty good. latin america's subgrowth may have come in lighter than some, though u.s. is strong. story at directv is about repurchasing stock, to shrink the cap, the amount of stock, repurchase is 1.3 billion. i don't

there's an interesting story in the "f.t."t 3.4% of global assets have come into the equity markets and it doesn't sound like a lot. but when you talk about the world's money supply, it's actually the highest level since 2004. are you still seeing continued buying interest at equities, barry? >> we are, although, i would say that there's been as much as anything there's been interest in buying other things, like european equities and a little bit of renewed interest in e.m. after the scare that, you know, the taper tantrum this summer. but to be sure, i meet very few equity investors or very few asset type investors negative on the equity market. decidedly bullish. >> does that concern you that there's so much bullish sentiment from everybody? >> oh, the goldman sachs report we were talking about. there was a suggestion over the weekend that goldman sachs in 2014 there will be a correction of 10% of some sort. they put a 67% chance of that happening. does that make? >> how do they come up with that? >> that's the other questio