yeah there's probably a little bit of that but forty percent of g.d.p. versus five percent g.d.p. i think that's. you know we're not spending as much and relative relation to the size of the economy which is why i like right now we're not having rubber drives that sort of things like that so make some contacts stand there right what's interesting is just how big that even if we had so you know like you said i think a lot of it's private contractors we've talked a lot about because they don't fall under exactly the same. loyalty or i think honor in the field when you're there for a paycheck i think it's a little bit different and one of those is that just gotten so big they're much like the banks so the u.s. defense department has three point two million employees that makes it one of if not the biggest employer in the world right we spend more on defense than the next eight countries combined with this big amount of money and with so much beer. ocracy which all of us would like to see effects and so much bureaucracy and so much spending it to me feels a little like the big banks w

yeah well you know the g.d.p. of america is not anywhere near twenty one trillion dollars you've got a country now where the debt is well above g.d.p. it's as a function the assets on the books of the central bank four or five times bigger than the central bank it's way out of control the other way they can manage just to keep interest rates artificially low and of course that creates the wealth and income gaps that result in san francisco where you've got billionaires and it's our first home most people shooting up smack on the streets that's a direct result of the federal reserve bank policies to keep insolvent banks zombie banks like j.p. morgan goldman sachs from having to declare bankruptcy and a result of social unrest results in all kinds of manner of destitution think central banks you pots if the crypto billionaires if the crypto economy if all those young guys like china think and solace from the last episode. they make this the sort of switzerland of the crypto global economy it could be that puerto ric

more than eighty five percent of the g.d.p. of the other countries would ratify before you would enter into force now it's only six out of the eleven and not only change that will change all this elements related to gender with strength and the aspects related to labor rights and environment and all of that i think made it up a better agreement not because the united states left because of the reality that we wanted to continue on. and it would to continue or we had to make it a more attractive agreement and i think when that up with a better agreement but not because the us left bar because of the reality that we did not want to waste the years of negotiation over high standard agreement new zealand's trade minister says the deal isn't perfect you'll have given this trade agreement seven out of ten. as the rating why is that why did you sign it if it's not what the ten or ten out of ten agreement is with a strike which is probably the best try to grammont in the world when we have no tariffs on any product we have free flow of

today we're five percent of g.d.p. and so i think that it may help frame the discussion a little bit where back in the day what he probably saw was a lot of you know contractors and businessmen and so forth maybe go into the bank and today it's much more scaled down and it's much more streamlined and we still do have issues of that when you know the blackwater controversy is a good example where they they became too powerful they i know when i was a commander in afghanistan and you had some contract personnel come through terrain that you had worked six months to secure the friendships in the villagers in the in the local mayor and all that and then they blow through and shoot some people you're back to ground zero negative turf because they're all americans and it's all the same thing to the indigenous population so there's some of that that needs to be watched and sure you know this is what inspectors general do and what you know we have all the audit trail stuff for and yeah there's probably a little bit of that but

when you look back at twenty ten by that time the debt was still at a level of eighty one percent of g.d.p. so this is clearly an improvement but what is going to happen now this is mean that germany might have to pay something well the e.u. could in theory make germany pay a fine but we look at when you look back at the past this was mainly never the case and also compared to other countries in europe such as portugal and spain the debt percentage of g.d.p. there is always much higher ok so germany's debt load or its success in reducing it what's it telling us about the economy as a whole. well in general also despite some political turmoil we have seen here in germany the economy is very strong a record after record today we have also received the latest unemployment figures in march eighty eight thousand people were last less unemployed compared to the previous months this means that the total unemployment rate went down to five point five per cent that's the lowest actually in the month of march since the reunification interesting also the latest inflation data that we are getting toda

yeah there's probably a little bit of that but forty percent of g.d.p. versus five percent g.d.p. i think that's. you know we're not spending as much in relative relation to the size of the economy which is why like right now we're not having rubber drives that sort of things like that so make some contacts stand there what's interesting is just how big that even if we had so you know like you said i think a lot of it's private contractors we've talked a lot about because they don't fall under exactly the same. loyalty or i think honor in the field when you're there for a paycheck i think it's a little bit different and one of those is that she's gotten so big they're much like the banks so the u.s. defense department has three point two million employees that makes it one of if not the biggest employer in the world right we spend more on defense than the next eight countries combined with this big amount of money and with so much bureaucracy which all of us would like to see effects and so much bureaucracy and so much spending it to me feels a little like the big banks where i fe

within they said sally election and all of them are basically talking about highest spending debt to g.d.p. is still very very high that's been as a result of the expansion of the expansion of the debt and also the slow run of

closer look last year the eurozone economy expanded more than two percent but in the united kingdom g.d.p. rose just one and a half percent this year british economic growth is expected to slow even further that's weaker economic outlook is also weighing on the pound its value has dropped fifteen percent since the briggs's referendum of june twenty sixth a weaker currency makes exports more competitive but imports more expensive that has an impact on inflation which has risen more than three percent its highest point in five years so that economic climate has led to increased borrowing average household debt that is debt as a portion of income now totals around one hundred fifty percent that's the second highest rate after canada of any advanced economy. so what will brings it bring we've heard doomsday scenarios and promises of a land of milk and honey if britain is lucky. it will be somewhere in the middle to discuss that with me i'm not joined by michael hughes who's the senior economist at sea of humanity in london michael welcome to the show one year of the triggering article fifteen

and put some more on domestic spending and we'll reduce military spending down to three percent of g.d.p. so continuing the reform girls are still a few figures here right now right now russia spending one is defense in excess of five percent of the g.d.p. and all of them created as for the presidency agreed that it was too much you know we need to cut it and when did bush and decide to cut it after we got the capacity to hit the united states not by me me say three or four would be enough you know because russia doesn't want to invade it you want it works to dissuade just isn't right i don't want to have been harboring has a right after russia got the capacity to neutralize the. government executives to or rather to. you know a cold war saying mania maybe this so what we don't want to keep going to see just two or three it would be enough because we are not going to keep them we don't want to keep them we want security not diminishing forty seconds. i think that. what what this in the case first of all it's being read as russia trying to step back from an arms race again like i said i t

five years the reason for that is that russia is finally recovering after a two year recession the g.d.p. last year expanded by one point five percent and the inflation reached its all time low two point five percent also their appreciation of the russian ruble resulting from the recovery of oil prices have has boosted the employers however it's still too early to say about the complete recovery over the mutual trade between two countries it can't has to be reached their progress is volume of eighty billion dollar is last year it only reached fifty billion ok but there has been some recovery and you marette to mention that the russian economy obviously took a hit because of the sanctions but it is covering so do those sanctions have make any sense to. yeah sure they do i mean it is not possible to say that they didn't heed russia's economy at all the heat was basically really have the first of all three sectors that against which the sanctions were introduced to finance the energy sector in the defense they may simply go to a severe hit equating to their estimations of my international m

that two percent but in the united kingdom g.d.p. rose just one and a half percent and this year the british economy is expected to slow even further now that weak economic outlook is also weighing on the power and its value has plummeted fifteen percent since the brics referendum of june twenty eighth sixteen and a weaker currency makes exports more competitive but imports more expensive and that has an impact on inflation which has risen more than three percent its highest point in five years that economic climate has led to increased borrowing average household debt but instead as a portion of income now totals around one hundred and fifty percent that's the second highest rate after canada of any advanced economy but so far london has made no move that would signal an exit from bricks and so with one year to go how is the business world handling the prospect of britain leaving the e.u. our financial correspondent daniel cope tells us this from frankfurt. well the clock is ticking in only three hundred sixty five days until britai

economies out there which hasn't returned to its level of g.d.p. that we had back in two thousand and seven greece is another example of this and shackled by high debts the reason why it's not translating into. the pockets of the italian populace is that unemployment is still very very high one third of italian eighteen to twenty five year olds still unemployed and therefore when you're looking at high unemployment you're looking at a and in an economy in an environment where wage levels are likely to be rising productivity remains very very weak it's about ten percent below the numbers that you see in germany for example or in the u.k. and therefore the average italian is having to work just a little bit harder to get to the same level of productivity as elsewhere in europe and that's obviously affecting their growth affecting their pay prospects and affecting sentiment as well and the issue as well of italy's public debt is still very much there i mean how is the new government going to have to deal with that very very carefully to be honest you

g.d.p. by fifty percent over the next three years this is a serious task but i'm sure that we will be able to achieve this goal. as a build up another in the in the killing of basic indicator is longevity life expectancy in the year two thousand and i thought life expectancy was a little over sixty five years in russia and for a female say it was under sixty mile and this is not just learning this is a real tragedy but in your that is a tragic figure but i see you in recent years with what you are russia one of the best life extending assuming the growth rates in the world we will increase to life expectancy by over seventy years we move to seventy three but even this is not enough to date we have to set a new goal the other she would be succeeded by the end of the next decade if russia she was joining a club of countries. with eighteen thousand plus life expectancy. if the woman just knew that you stood on the reason when your sponsors like japan france germany and i think one of those. lif

east of england for example which is in the region which is going to take a predicted eight percent g.d.p. hit by leaving the european union so ultimately the people she meets maybe those people don't fear for their own jobs but their region is going to become significantly poorer if she manages to deliver on the breaks that she promises oh timidly one of the arguments of course in favor of breaks it was it would allow britain to control immigration and that sort of see perhaps one of the issues which some of the people she'll talk to may still want but how do you weigh those things up what individual people think they want versus the needs of the u.k. and the needs of the economy and still that kind of balance between those factors which we still no closer to solving that conundrum. that was john worth the blogger speaking to me a little earlier so how has the british economy been faring since the country decided to leave european union moloch is looking at some numbers force this and i can tell you terry when you look at those numbers well they're not in favor of britain leaving the e.u

how can such a country which has only ten percent of the military budget and ten percent of the g.d.p. of the united states how going to compete at it and project its a missions for role in the world the answer was clear by being head and shoulders above the rest of the world is precisely in his defense capabilities and the and demanding the respect of its capabilities and of its intelligence and of its people and their dedication through the development of these systems so he has run circles around the competition he also answered in a way a question that many in the west for example a financial times were posing of the day before his speech what would he say about the economy what kind of structural reforms would there be the answer is that he said a lot about the economy he said a lot about social welfare but it was all in the nature of an evolutionary change a continuation of the programs that have been put in place around the country in pilot praja. it's had to generalize them for the sake of the of the general state of the state of this move forward of russian society and prospe

in excess of where it is today global g.d.p. is a new mic at best and the only growth that we're seeing is a derivation of central bank money printing yeah so it's not in reality growth driven by product creation it's growth driven by stock buybacks leveraged buybacks and wall street creating you know crony capitalism and that's going to definitely and badly because interest rates have gone from fifteen percent in one thousand nine hundred eighty three in one thousand nine hundred one down to close to zero so the cost of finance ponzi finance today is relatively too low so it keeps the zombie companies in business no organic growth is created real wages are the same level or lower for the average worker as they were in the one nine hundred eighty s. yet to wish in costs are up two thousand percent health care costs have spiraled out of control with obamacare so you've got a real problem and that's and the fake news media will do anything to destroy trump along with the deep state and you know and the agents that want to control

point five times a day pay it's now rising again it's rising in the right of about seven percent of g.d.p. every year now what i think is going to happen is that as that starts to occur and you have the federal reserve believing everything's fine again because they completely ignore this issue they'll stop putting interest rates up trying to head towards that right of at least say three percent they used to get four percent as their right of interest in the gold saga three percent this time and the b. publications in in the congress may not they might go with trump on the infrastructure spending which will boost the economy through the government spending more than it takes back in taxes but in the poll rons of the world have their way they'll stop cutting government spending and get spending on the poor of course and continuing spending on the rich and what that will most likely do the rising cost of debt and the dog michigan out of money being created by the government will trigger what happened back in not in thirty seven and that is a private sector will go back into reducing its debt

rise promised that would mean a fifty percent g.d.p. increase per capita by twenty twenty five more of a life expectancy average is targeted to go above eighty is we spoke to russia's economic development and finance ministers right after the speech they told us what they thought of the goals that putin had set. but the signature of all these restrictions stimulated russia to increase production and we've been joined growth not just in sector such as culture and every day goods we see the reorientation of our economy in science towards what we previously received inputs we're developing our own high tech industries now picture pretty at the key priorities taking konami growth rates above the global average go sit before the government of vital and require more investments but all six key initiatives highlighted by the president development increased life expectancy improved business climate developing human capital as its workforce productivity and reducing poverty have already be making progress for a year now we're going to take them

g.d.p. are becoming a power on may twenty fifth i think it's time for european citizens to write and to clean the data that facebook has about the g.d.p. our. data protection law is very important and very empowering for this it says and facebook has to realize that up to four percent off that google revenue are it's the if this incident had happened that the end of the. well you know you say that this legislation is going to be something that europe should be proud of a maybe is something that should be copied or emulated around the world but there are no signs that the united states is ready to take that still. do you understand why that so why is it a why is data protection why is it still a european story. so historically as the european story if you think about the recent hostages many of the stasi off the drive and other things where you know the united states doesn't have a parrot like that i think let's go back to the point to us about the election. and let's assume for the moment of

yeah well you know the g.d.p. of america is not anywhere near twenty one trillion dollars you've got a country now where the debt is well above g.d.p. it's as a function the assets on the books of the central bank four or five times bigger than the central bank it's way out of control the other way they can manage just to keep interest rates artificially low and of course that creates the wealth and income gaps that result.

russia and that's not even counting nato all our us are committed to increase the fun spending share of g.d.p. the direction of travel is clear but we have to continue to move in that direction it's a fair. demand that all who benefit from the best defense in the world carry their proportionate share of the mystery cost to defend freedom these grave security concerns are the same reason that i have been very very direct with secretary in saying that nato members must finally contribute their fair share and meet their financial obligations other nations must be prepared to take responsibility and that includes more investment in defense why is nato raising military budgets in some cases doubling them if its closest competition is reducing spending i may have been wrong here they're evidently e's an arms race one man race and you obviously do two of these tango. the leader of the dutch party for freedom has been criticized for a public display of solidarity with russian gear to realtors recently visited the country's lower house of parliament the state duma where he wore a russian netherlands f

the net global growth of money supply has been increasing year over year over year and the debt to g.d.p. of the world is at skyrocketing levels of three hundred four hundred percent global debt to global g.d.p. hey this is an enormous ponzi scheme there's no escape from this enormous ponzi scam the best they can do is try to scare the market into not crashing a little bit but look out is that's impossible nobody nobody's going to be able to is to talk cancer away there's a cancer in the market you can just ask it to walk away and not attack the cancer is over leverage speculative jihadi financial terrorist with too much money to speculate on these bond markets and the fed has nothing to do about it they're going to and i fight they're going to a gunfight with a knife roll off how they're going to do you honestly believe that they're going to be able to manage this exit from quantitative easing without a catastrophic bomb collapse and we have about thirty seconds and then hopefully i can stay for another segment well i certainly hope so because when there's a catastrophic on crash there

and how as a percentage of g.d.p. that the united states doesn't way lower than germany or fraud well it's not all that much lower than germany actually and france where are present there at twelve percent well it's a bit closer than months of matter of fact and actually we're probably more efficient poor over zebrafish it gets where using far less money out of g.d.p. to pay for a public health far less it's only a few percent but it's really a few percentage points is after all the about we spend on the feds and where there is quite a lot of money yes you can i just ask you finally about the jamie colby has written to the prime minister about new policies necessitating immigration checks on people for life saving treatment. what would you say about the checking of immigration status for life saving surgery that well obviously i think there's no problem with people who fall ill it's an emergency there's no problem there told them either where they come from we treat them and indeed i've treated many people from abroad

equal pay and a room full of million as the top of almost lose weight on the equal pay if both the g.d.p. of south african nation i want saw a tip for the big window this yeah well one of the movies is all about a disabled woman who is being sexually harassed at walk and she ends up sleeping with a green skin of indeterminate jad my money's on the. well there was a drama saturday outside the white house in washington with temporarily went on lockdown after a gunshot was heard details after a short break with some. good folks who. put themselves on the line to get accepted or rejected. so when you want to present danger. we still want to be rich. to going to be the person who she was before three of the four people that are going to see you always in the water. i would still like to be. everyone in it for the sake of peace and stability that. the pakistanis or the indians although. we are objective is the thing which is peace and stability within the region that is the pool. of foreign troops. for a while. i welcome back this is our t. international now a man has died after shooting himse

to just put it differently important export of goods just seven to eleven percent of the g.d.p. so that is. very very little compared to other countries for example in germany expos fifty percent of the g.d.p. in the united states is only seven percent so you can see that just because the united states is just such in the market with three hundred twenty million customers mostly producing everything it needs by itself you can wage a trade war if you insist on it of course there will be always people suffering in the united states but it will not be the majority for example germany never could be made to trade it would kill the whole economy and that's not true for the united states and that's exactly the reason why is not the first president to start a trade war i mean the same. and of course it backfired as clued said. in the end jobs were lost and gained but you know. what happened regen is still very popular and that's exactly the nose that physically economy it's just nonsense but politically for the united states it's always a good idea for a president to start a trade will

equal pay in a room full of million as the top of almost the only way to be on the equal pay for the g.d.p. of south african nation so what's sauce hit for the big winner of this yeah well one of the movies is all about a disabled woman who is being sexually harassed at walk and she ends up sleeping with a green in partner old indeterminate jad my money's on my. new show on law you know talk drama real nasty scenes drama so the white house in washington a bit earlier today was temporarily in lock down in front of a gun show it was built for the provocations what happened right after the break. with this manufactured consensus stick to the public will. when the really close is protect them so. when the final larry you're a gift certainly the woman. we can all middle of the room sick. every single p.-l. and every single corporation in america has a guy sitting at a desk is engaging fraudulent trading to extract money from the market and back up america and causing taxes to go up it causes fragile programs like obamacare repeal because infrastructure projects that die because people in san fr

campaigning he will pay a room full of million as the top of almost always easy to equal pay for the g.d.p. of south african nation so what's our tips for the big winners this yeah well one of the movies is all about a disabled woman who is being sexually harassed at walk and she ends up sleeping with a green skin partner of indeterminate chad my money's on now. for one drama to another nasty seems outside the white house washington earlier temporarily went on lockdown after a gunshot was heard and deep somebody told me about after this break. i would still like to be up for this because everyone in it for the sake of peace and stability that with it's the russians or the americans or the pakistanis or the indians although month by and large will be our objective is the theme which is peace and stability within the region now if that is the board then. whether it is within the one that's done or for the region the long term presence of all foreign troops inside of one this week and not bored with what the region or for a one month. i get thanks for watching out international so as i mentio

and put some more on domestic spending and we'll reduce military spending down to three percent of g.d.p. so continuing the reform girls are still to a few figures here right now right now russia spending one is defense in excess of five percent of the g.d.p. and all of the candidates for the presidency agreed that it was too much you know we need to cut it and when did putin decide to cut it off we want the capacity to hit the united states not by i mean he sells three or four would be enough you know because russia doesn't want to invade it you want it works to dissuade just isn't right i don't want to have own arms right as it were right after russia got the capacity to neutralize the. military government executives to or rather to return it's like you know a cold war saying mainly maybe this so what we don't want to keep going to see just two or three it would be enough because we are not going to keep them we don't want to keep them we want security and ought not diminish and forty seconds. i think that what this in the case first of all it's being read as russia trying to step back

and put some more on domestic spending and we'll reduce military spending down to three percent of g.d.p. so continuing the reform girls are still to a few figures here right now right now russia spending one is defense in excess of five percent of the g.d.p. and all of them created as for the presidency agreed that it was too much you know we need to cut it and when did putin decide to cut it off we want the capacity to hit the united states not by many cycles three or four would be enough you know because russia doesn't want to invade it you want it works to dissuade just isn't right i don't want to have own arms right as it were right after russia got the capacity to neutralize the. military or its executives to or rather the territories where you know a cold war saying mania maybe we were just so what we don't want to keep going to see just do it to be it would be enough because we are not going to keep them we don't want to keep them we want security not diminish and forty seconds. i think that what this in the case first of all it's being read as russia trying to step back from an

rise promised which would mean a fifty percent g.d.p. rise per capita by twenty twenty five or over average life expectancies targeted to go over eighty years fifty billion rubles will be spent to fight poverty as well we spoke to russia's economic development and finance ministers right after the speech told us what they think of the goals that putin has set for the. but you're going to all these restrictions stimulated russia to increase production and we've been drug growth not just in sectors such as agriculture and every day goods we see the reorientation of our economy in science towards what we previously received by inputs we're developing our own high tech industries not picture of it yet a key priority is taking a konami growth rate above the global average the goal set before the government of vital and will require more investment but all six key initiatives highlighted by the president obama development increased life expectancy improved business climate developing human capital as its workforce productivity and reducing pov

of the world is at skyrocketing levels of three hundred four hundred percent global debt to global g.d.p. hey this is an enormous ponzi scheme there's no escape from this enormous ponzi scheme and the best they can do is try to scare the market into not crashing a little bit but look out is that's impossible nobody nobody's going to be able to is to talk cancer away there's a cancer in the market you can just ask it to walk away and not attack the cancer is over leverage speculative jihadi financial terrorist with too much money to speculate on these bond markets and the fed has nothing to do about it they're going to and i fight they're going to a gun fight with a knife. how they're going to do you honestly believe that they're going to be able to manage this exit from quantitative easing without a catastrophic bomb collapse and we have about thirty seconds and then hopefully i can stay for another segment well i certainly hope so because when there's a catastrophic on crash there will just restart the whole mess all we get it will make this situation worse so my wishful thinking is tha