you know all the of my wages and g.d.p. are expected to grow the cumulative gains we believe are roughly three point three percent of russian g.d.p. in the early years after accession and after more like ten years we think russia would gain about eleven percent of g.d.p. deeper integration into the global economy is one of the people of the you know putin's reform agenda it presents to decree all an economic policy which unsigned on the day he wasn't greeted includes your own city major reform measures intended to make russia more attractive for foreign investors that is your national are on the money r t. all right gentlemen now we're also joined by a keim he's director of strategic development for a.b.b. in russia and yvonne chicago he's chief economist for russia and c.i.s. at renaissance capital even if i go to you first i mean you've heard our. first. the program what are your thoughts about where the russian economy will be by the end of this well actually i think that will see some moderation in the pace of economic acti

it's not a greater amount, not a greater amount of our g.d.p.. >> they are taking increasingly largerunt. it's 3.35% of our g.d.p. i think we need to be aware. the economic effect of that inevitablely slows employment and causes diversion of resources that would be beneficial to economy. it's not clear that it actually makes america safer. >> john: ambassador bolton that is big question. how much safer does this make us? >> i think you have to look at the divergent threats the united states faces around the world, continuing threat of terrorism the real threat of the proliferation of weapons of mass destruction, nuclear chemical and biological. increasingly assertiveness of china. >> john: those are real threats but i think back to the past when russia had all those missiles aimed at us, we spend more than at the height of the cold war or during the reagan build-up or vietnam war or korean war? >> if you add in the current cost of the conflict in afghanistan but percentage of g.d.p. has consistently been going down since dates of cold war. in fact even the obama administration secreta

it's not a greater amount, not a greater amount of our g.d.p.. >> they are taking increasingly largermount. it's 3.35% of our g.d.p. i think we need to be aware. the economic effect of that inevitablely slows employment and causes diversion of resources that would be beneficial to economy. it's not clear that it actually makes america safer. >> john: ambassador bolton that is big question. how much safer does this make us? >> i think you have to look at the divergent threats the united states faces around the world, continuing threat of terrorism the real threat of the proliferation of weapons of mass destruction, nuclear chemical and biological. increasingly assertiveness of china. >> john: those are real threats but i think back to the past when russia had all those missiles aimed at us, we spend more than at the height of the cold war or during the reagan build-up or vietnam war or korean war? >> if you add in the current cost of the conflict in afghanistan but percentage of g.d.p. has consistently been going down since dates of cold war. in fact even the obama administration secre

it's not a greater amount, not a greater amount of our g.d.p.. >> they are taking increasingly largers 3.35% of our g.d.p. i think we need to be aware. the economic effect of that inevitablely slows employment and causes diversion of resources that would be beneficial to economy. it's not clear that it actually makes america safer. >> john: ambassador bolton that is big question. how much safer does this make us? >> i think you have to look at the divergent threats the united states faces around the world, continuing threat of terrorism the real threat of the proliferation of weapons of mass destruction, nuclear chemical and biological. increasingly assertiveness of china. >> john: those are real threats but i think back to the past when russia had all those missiles aimed at us, we spend more than at the height of the cold war or during the reagan build-up or vietnam war or korean war? >> if you add in the current cost of the conflict in afghanistan but percentage of g.d.p. has consistently been going down since dates of cold war. in fact even the obama administration secretary of de

are generally is as democrats the bureau of labor another. nonpartisan organization says that both the job creation and g.d.p. growth are lowest at the current thirty five percent tax rate and highest at an eighty percent top tax rate in fact if you look at the statistics for the last hundred years those times the g.d.p. has grown fastest and job creation and growing fastest have been the times when the top tax rate was above fifty percent and those years that had grown most slowly have been when the top tax rate is below fifty percent you know they have an expression for that in texas and say they say that dog won't hunt but it's true again those numbers. for the action zero zero zero for the economy in the fifty's sixty's seventy's and early eighty's even the rate the so-called reagan recovery in eighty four the top tax rate was fifty percent eighty four. fiscal responsibility and it is strict adherence to generally accepted accounting principles whereas now you have spendthrift politicians a spendthrift administration of various strains that we know are breaking the bank and we look the other way because th

if the economists only use the g.d.p. are only one data point to tell you how the economy is doing. we have that information. .'m happy to provide it to you >> a question right in front. >> thank you. i am at the ambassador for coaster rica. thank you for your report. and your openness to receive the ambassador. you have been remarkably communicative. i appreciate that. i want to refer to the majors list. as you have pointed out now, the lines between production and transient and consumption have become increasingly blurry in the whole world. i am wondering if there is any chance that we can approach the day when the majors list will in fact be eliminated. it may become irrelevant. it is certainly harmful to our countries to have been punished by the success of in colombia and mexico. i know you understand this whole issue very well. pimm where do you think this process is going ta? >> the ambassador raises a point on the majors list. it is something that is required by the president by law to do on an annual basis. it is a fairly narrow definition of some of the issues surrounding

and as republicans claim to, then you can't simply ignore revenues at a time when at 15.4% of g.d.p. they are the lowest in 60 years. poll after poll has shown the american people overwhelmingly want to reduce the deficit with a combination of cuts and revenues. every bipartisan group were able to come together because their plans were balanced. and let's be clear, we don't want to increase revenue for the sake of increasing revenue. of course not. but as a nation? we need to pay for the servicable programs the american people want. we need to reign in the deficit and debt. and we need to do it in a responsible way. democrats understand this and congressional republicans should too. because all of this is coming to a head once again. unlike last year, it can start immediately. millions of jobs could be lost through the automatic cuts. programs that families depend on would be flashed irresponsiblely across the board, and middle class tax cuts would expire. and once again if republicans won't work with us on a balanced approach, we are not going to get a deal. because i feel very strongly that

g.d.p. but they are saying there is a lot of uncertainty there about possible tax increases down the road and they are saying all of this suggests the economy is in trouble. take a listen. >> the report is disappointing, a picture of a decelerating economy where consumption, spending and investment spending have desell rating growth combined with consensus estimates from the forecasters for the next year, show the sign of an economy in a very slow-growth mode. >>reporter: that is why the news is putting the president on the defensive. as you noted, mitt romney had stumbles in europe. the question moving forward is whether he will be able to capitalize on the bad news. or whether or not the president will make his indication that he deserves another four years. >>trace: thank you, ed. the economy is not growing but look at the dow, the 401(k) is booming, up 198 points today. and the bottom number, we have gone over 13,000 for the first time in three months after top european leaders pledged to do whatever they could to protect the euro zone. many investors are concerned that europe's troubles

g.d.p. we already have agreements with so the u.s. has agreements with all the ones that are bold so over eighty five percent of the of the combined g.d.p. we have free trade agreements with them so let's just assume the free trade agreements work just as an odd factoid our export growth rate is half the rate with the countries we have free trade agreements with relative to the ones we go so it doesn't work be it's a scam but with a t p p let's just assume it works we've already done that with every country whose economy does not have a tiny size so what the hell are we spending all this time and effort of our negotiators getting into this agreement and this is where you know i sort of put up that slide for senator sometimes i say you know sir what are they really do it if the trade part was done already even if you don't like that or if you like it this is not what we're actually after so what's going to be. genda what is it's this set of corporate locking rules and the thing is congressman my congressman senator by senator congressman or congresswoman you go through the iss

g.d.p. numbers come out and people are evaluating where the u.s. is in terms of an economic recovery where do you see it and when do you see a pivotal moment in the u.s. economy looking at kind of these markers that you've laid out. well there are a lot of places where you can start. but. the average standard of living. after taxes after inflation in real terms of the average american worker has actually been going down flat to going down since the early one nine hundred seventy s. insofar as it appears to have been getting better it's because he's been taking on huge amounts of debt but. bringing in more up to current time i believe that a real depression started in two thousand and some two thousand and eight and as we speak right now we're just in the hurricane we've gone through the leading edge of the hurricane and two thousand and eight two thousand and nine and we're in the eye of the storm right now and we're going to come up the other room and it's going to be much more serious last much longer than what we saw and be different than what w

" this week's edition, pointing out that american profits, corporate profits as a percentage of g.d.p. are actually higher now than they were at the high point before our economic crisis. in other words, corporate profits have gone up to a point that they are now about 15% of our g.d.p., at the same time that our wages have stagnated and gone down. they make one point in here where they said there is an irony that a high share of g.d.p. for profits automatically results in a low share for wages. why? because the people who are making the money, by running these companies, these executives are selling their stocks, their stock options, taking the lower percentage on capital gains in order to make their money. so i am not going to vote for raising taxes on ordinary earned income, but again i will renew my suggestion to this body that we take a good, hard look at this because this situation is creating the greatest disparity among our people. mr. president, for many years, since well before i came to the senate, i have had the -- the pleasure to work, travel inside east asia in many different

there are a number of countries australia for one whose g.d.p. is largely made up of commodity exports to china. particularly iron ore and coal exports are the source of justice to those. and i haven't heard the australians obsess over becoming china's ruins here with appendage either. at the same time we'd all be surprised if china were to be interested in russia to acknowledge your hard tech products just remember there was a story about china buying russian axes just because they needed r.n. and would that rather sounds like a joke and i do remember that whatever the case this definitely did not happen in the seventy years that i was in bath or to china but you really is china interested in russian technology i don't think it will take you by surprise if i give you the concrete fact we've constructed two blocks of a nuclear power plant in the eastern province junks to the so-called gen one nuclear power plant these two units have generated electricity since two thousand and six two thousand and seven and are part of the chinese power line but a

and i are a lot of those countries a lot more effective and productive than we are in terms of g.d.p. and i don't know i don't know that that's a little hard to argue i want to talk about the euro crisis is never right economy is contracting so jealous when i hear about these other countries you know between five and seven weeks how everyone in france you know this week is taking off for the rest of the summer and that's normal to be able to go and i guess what a lot of people say that's what you get you know. you look at greece and that's what happens because they call in the club that you know i'm too much of a going to yeah but i think that there's a different quality of life i mean there's a different appreciation for quality of life i mean we also don't see you know i mean i think. anything that's fact yes but i also think that there is just a different philosophy about how government is supposed to regulate stuff like this obviously i mean we all know this like the u.s. has a very different philosophy about that and the country that's interesting to me on that little thing is ge

you bring up this interesting point how do you balance something with the debts are bigger than the entire country's g.d.p. now doesn't this expand a little bit to this developing scandal out of london involving libel or and what i mean by this is that these banks have been allowed to grow their balance sheets to considerably bigger than the. g.d.p. of the countries that host these banks can comment gently we see a collusion going on we now know it's between the e-mails between barclays and bank of england there's collusion going on to keep the library rates and other interest rates artificially cheap as a way to allow the growth of this extraordinary debt to continue is there is that it's same thing is true at the federal reserve bank and banks in the united states correct yes you know it's a different mechanism and cheapening the rates but it's exactly the same it's the same go. rates in the us close to zero and they get it was preposterous considering you know the fundamentals in the macro situation and the same thing with europe the libel. scandal i guess you'd call it collusion is quite interesting b

g.d.p. growing seven point six percent law schools are amazing by most standards but not by beijing a blame to the global crisis to costume demand for its products in the halls more pressure on premier wen yarborough to pump more money into the economy i return to the twenty percent growth seed previously is all right lisa next hour i'm going to have the figures for the u.s. market all right thanks for march. and our exclusive interview is coming up with new president who came to power controversially after his predecessor was ousted for a short break and have been. one needs of spare time to obtain inner peace and spirituality. pressman chip and creativity requires special conditions. are met accuracy and knowledge on the attributes of some of the two tier. those who are behind bars freedom of cell to expression. started. before going to local and now pulling the fire. log. of. choose your place take your stand. and the stuff that. makes your statement. some of the words. you put straight from mine. the. machine would be soo much brighter than if you knew about someone from funds.

g.d.p. we saw last time because home prices are already depressed however the rest of manufacturing is is now falling you know into the gutter led by autos you know these are jobs these are auto parts these are trucking supplies all of this and corporations are running pretty lean here lauren so what's going to happen here they're either going to lay off workers which are going to put more people out of work and governments are still struggling soror going to see some more government layoffs either that or these corporations are going to keep these people on and their profits are going to sink which one is it i think is a combination of both so that does not bode well for the stock market and also looking ahead in the beginning of next year we've got all kinds of tens of billions of dollars worth of tax hikes across the board alternative minimum tax all kinds of tax hikes the first year of a presidential term is seldom a good one all of the cards are lining up here for a pretty significant recession loss of jobs and an earnings recession as well i know that sounds. could your two scenarios of

to fifty years the other option is fiscal union and that's to ask the germans who are to have debt eighty percent of g.d.p. more than nine times what russia has they already have the ask the germans to then pay money to southern europe that politically just doesn't look possible at the moment or revolt capital between various countries not new in europe thank you very much indeed let's check how european markets are reacting as we gear up to that decision they are gaining slightly they're pretty flat in fact as traders await that decision the euro is low against the dollar of the fairly heavy losses yesterday the ruble is losing some of yesterday's gains here or most. of trading mixed off the posting games from wins the cold is all good news that capital inflows to russia hit five billion dollars last month and that's all we've got time for me so we'll have more for you next hour all right day i will see that thanks for that update. i next saw you on the news headlines after this short break stay with us to. download the official antti obligation to your i phone the i pod touch from the q jumps to. one ja

g.d.p. rate because my stomach columbus and healthcare plan are going to bring this whole new era ora to the way we are thinking about business in the united states. do you think he would have been elected in 2008 with that campaign platform. >> certainly not folks would have translated that into 8% unemployment rate. this guy did not inherit the biggest hole of any post war president. ronald reagan inherited unemployment mess. 10.4, not the 10% the way it did for mr. obama. at this point mr. reagan had the economy growing at 6%. whereas mr. obama a growing it 2%. he had gotten unemployment down at 7%. mr. obama t about 8%. simply, this guy didn't inherit a bigger mess. what he does his alibi better than anybody i have ever seen. >> why is mitt romney not ahead in every single poll and not ahead significantly if in fact things are as bad as you say, peter and said some economists are saying? romney isn't turning this into some big path to victory. at least so far. >> two factors. one he has not done a good job of explaining how he would create jobs. running around the country tax cuts and de

g.d.p. and this is because of the banks so people are angry about that they think they can cope with these protests partly because. mining regions are of course very localized in certain areas of the country these are small areas the truth is that the miners are getting a lot of solidarity because many people relate to them and sees their problems their own problems so well maybe the government is in for a surprise in that sense. and greece is also in a state of turmoil and violent clashes have shaken the city of agony in the o. in the west supporters of the far right golden dawn party fought with anarchists leaving cars and shop windows smashed at least one person injured and golden dawn's influence is on the rise and gained around seven percent of the vote in the recent general election artie's jacob green takes a look at it as in a phobia in today's chris. all around the country crumbles some parts of greece seeing firm foundations take root. in that we want a nationalistic state all of them should go back to where they came from the word of an elected official as unemployment grows hand in hand

g.d.p. and this is because of the banks so people are angry about that they think they can cope with these protests partly because. mining regions are of course very localized in certain areas of the country these are a small area us the truth is that the miners are getting a lot of solidarity because many people relates to them and sees their problems their own problems so well maybe the government is in for a surprise in that sense. this is r.t. coming up for you in the program a rough justice tweeting activist ends up in jail in bahrain as the government continues its crackdown on the opposition. hard times in greece meaning difficult ones for immigrants as well with the economic crisis being blamed for ports of increased racial intolerance a recent human rights group report suggests that police are refusing to give assistance to foreign victims of abuse and are often accused of are failing to investigate complaints properly jake aggrieved takes a look at allegations of xenophobia and austerity wrappers to greece. all round the country crumbles some parts of greece seeing firm foundations take r

g.d.p. and this is because of the banks so people are angry about that they think they can cope with these protests partly because. mining regions are of course very localized in certain areas of the country this are a small area of the truth. that miners are getting a lot of solidarity because many people relate to them and sees their problems their own problems so well maybe the government is in for a surprise in that sense. it's good to have you with us here on r.t. today tough negotiations have been taking place right here in moscow where russia's top diplomat has been meeting with the syrian national council of the arab countries main opposition alliance the talks brought no meeting of the minds with the group insisting that president assad's regime must be deposed before they'll be peace with this report artie's lucy caffein of. after the talks we did hear from the syrian national council leaders sort of reinstating of their demand that assad step down in fact they upped that demand saying that everyone associated with the current assad government must step down for talks to be ten yo and why

g.d.p. and this is because of the banks so people are angry about that but also what you mentioned the fact that investors are going to take a loss in their investments well the problem is not just investors the problem is that many people actually had to supply absence of people were deceived into buying a certain form of shares a certain financial products that now means that they will lose their money asked if they were investors when that interest they were savers this is a huge problem in spain there are lots of protests and this decision by brussels will go down very very badly in spain for many people so it's more trouble ahead so the control of the. in spain essentially goes to brussels all the while the spanish government is cutting pensions raising taxes putting a lot of the cost of shouldering it to the small town or local investors it might seem to some that brussels best interests for spain well they're not exactly forefront. well i think we have to understand this crisis a crisis of the banks in the rich countries which have lent money to the let's call them the poor concept o

g.d.p. and this is because of the banks so people are angry about that they think they can cope with these protests partly because. mining regions are of course very localized in certain areas of the country this are a small area just the truth is that the miners are getting a lot of solidarity because many people relate to them and sees their problems their own problems so well maybe the government is in for a surprise in that sense. well of course all of our news much more as well available online for you are twenty four hours a day just a click away a website on t.v. dot com let's check out some of the stories that we're covering there at the moment for example wiki when the russian version of the online encyclopedia shuts down for a day in protest at a bill in the russian parliament which opponents say limits internet freedom of course in the government to quickly add changes to it. also learn how a new american law could give legal immunity to biotech companies involved in planting cultivating genetically modified crops. we're going to the world update soon for now the rescue operation in rush