when looking at it very carefully it looks like there's a lot of there's a voluntary element to it i mean when you banks not want money when banks forego money i don't understand and i was an investment banking at one time it seemed so we logical to me voluntary. yeah well the thing is you have to look at this to from two perspectives from a political opponent economic angle if you look at it from a political angle you must look i mean against the backdrop of very reluctant decisions over the last eighteen months or two years or so one has to say this was in political terms a step forward and economic terms as he rather characterize it there are still a lot of loose ends i mean one of the things is the voluntary hakka for the banks i mean the reason why it's voluntary is that politicians don't want any c.d.'s to get but obviously that's one of the cruxes you see really is in the detail in my paid interest of some of the banks actually to trigger the c.d.s. because it's insurance against losses so there's still a lot of details to be hammered out so from an economic point of view and i thi

i mean what they are going thank god i mean how much was there last year he didn't really use i mean how how much at what point did you kill the patient itself go ahead. yeah i mean they will definitely be killing the main generator of growth in europe which is ultimately the german export economy what this all goes back to is that germany other than german banks lent money to greek and spanish and portuguese banks to buy german exports they then you know when the think tanks were able to continue doing that and what you see in the latest reports this morning is the german manufacturer german manufacturing center sector is going down so yes this is a vicious circle i'm convinced that the e.c.b. and behind it that each of the governments in europe will indeed guarantee these bonds and in that sense guarantee the french and german banks but that is not going to remove the underlying volatility of this finance driven capitalism that's not going in the long run solve this problem will be coming back to it again and again and again it's endemic in the nature of capitalism we have today yo

over the weekend that he thought that the economy was humming along side of the construction said i mean a lot i think in the longer term well i mean really what he's there is a job generation where's the job generation i mean it's very interesting to look at these numbers and stats but people are out of work and that's something that is not happening generating jobs dean if i can go to you i mean you can look at two consecutive quarters of negative growth and that's a double dip ok well he said recession ok but we're not getting any job generation so we're do you see this going and are we going into a double dip and how people would be no no you are going to double go ahead and i think it's really been unfortunate there's been so much focus in the media on that because the basic story hears at least in the united states we're looking at a prolonged period of very very weak growth i mean the baseline we're looking at and there's not even that much difference in the range of forecast somewhere between two and three percent growth and we need to add a half percent just to keep pace with th

there's the i mean if you get a useless you mean like somebody there i do it is the arts degree would help you out i mean i know very interesting how to thank you very much i want to thank my guest today in paris philadelphia and in sacramento and thanks to our viewers for watching us here are to see you next time and remember crosstalk you. can. still. continue. in india she's available in the movie going to join the hotel rooms the home of venus the gateway hotel the grand imperial college the taj west coast girl until you can a lesson to tell socialism which says don't need to go and. read this and the colonel was hoto as used to retreat. them. all. ah.

i mean is it mean well for an investor and he said if you have a good relationship we'll call authorities regional authorities said look already in certain part of the lords and first things we're looking at ease is it a good business opportunity and we've seen we've seen good growth in russia and in the ration countries last year were business was up was up ten percent and it's played a very significant population within the strategic future for russia is good too with the size of russia one hundred forty million then the rest of your racial on top of it so that's what we're looking at first of all and we've seen the relationship with the federal authorities and the regulation improve over time so to less red tape or say less red tape less administration so in the last couple of years with the move towards the customs union we've seen. less regulation or more streamlined regulation we're looking at one permission for a product we've seen. easier to get all specialists into the country in terms of in migrat

you know i mean. you know so far the libyan people with plenty of mistakes in plenty of difficulties to a very long summer is this sort of a ragtag bunch of fighters got themselves organized and got themselves together and you're quite correct with a lot of data to support right exe well as well apt absolutely absolutely and and just as the american revolution had a lot of outside support too you can try and smear the libyan air first before it gets under way but the reality. of the libyan effort to show so far the libyan people have handled this very well i think they've got an even chance of continuing to handle it well. it's it's premature to prejudge the i think i think history is a very i think that i think there's history shows a lot of reason to be worried i mean you can't really take over another country with foreign assistance and then claim that you have full power look at the northern alliance in afghanistan they took that tajik dominated factions took over but they've never been able to cl

you just heard would you agree with that i mean because there are so many success stories here people have come here stayed here i don't hear a lot of people actually leaving it's still people coming i mean considering the global environment to me a lot of people are sitting on their money right now but would you agree or disagree to what degree with what vladimir just said i think there is a difference in perception that there is a difference perception if you look at the companies that are part of the foreign investment advisory committee which which works for the federal authorities is forty major multinationals all of them are continuing to invest here so we're continuing to invest here we're just opening three factories this year one of them in to michigan crescent outside of moscow you've heard about exxon investing pepsi in the food industry of ball then bill dandenault and so they industries by the people who are part of that committee that got here early on by other people i think there is a perception outside of that outside of russia that it's a bit of a black box they don'

your reaction to this i mean and we have to remember this is an election year and i want to go into that dimension as well. well first of all i'd like to add that just recently the iranians released to the two so close the hikers who entered iranian territory through iraq a military zone in an area where terrorists were active and american forces were also stationed the end to the country illegally one of them's father was was in the israeli army. the iranians released them and that was a goodwill gesture so why would the iranians want to do this and carry out such an anti and then there's. a lot of really held law in the first place treating this as an act of you know but in this instance on the part of iran no no they're absolutely they entered iranian legally they entered iran through a highly military zone and it was absolutely absurd for any ordinary person to even be anywhere near that area let alone someone people with such a background but in any case. this was all really reminds one. the fact that while they're both americans and the three of them were americans and one of

dozens present and of course you point out troy davis i mean that was huge that was huge i mean this is a guy who was executed despite all these questions discrepancies in his case left and i'm wondering you know because if you look at these gallup results they show that over the last seventy five years i mean it's really been a bit of a roller coaster when it comes to support or opposition to the death penalty and i'm just wondering why this is such an issue that is you know so fluid for people you would think that this is something that you you make your decision and you stand your ground but at the same you know we really see no flow and is it because of high profile cases maybe our emotions just up right now because of terry davis i think it's one of those issues that the more and i again i don't know if people are thinking about it more although cases like troy davis make me assume that people are thinking about it more but i think as people think about it more they realize it's like very difficult to have a solid position on capital punishment for instance if your idea of the r

is crew is open the government dot org is i mean i absolutely think that it's ludicrous yeah i think it's completely outrageous i mean as you just showed the government is taking more and more documents about us getting them from sites like google and facebook and now they want to disclose the less and less to the public you know it's completely absurd it's actually illegal to lie to a government agent and yet the government wants to make it legal to light all of us . it's ridiculous really but let's talk about the obama administration to write and i think you and i have talked about so again about this before but here is an administration that came in promising to be the most open and the most transparent and history at this point do you think that they get a failing grade i mean let's not forget this is also the president that actually received a transparency award but in a very private ceremony it would open to the press. yes i mean this is just another in a long line of incredibly anti transparent moves from the obama administration from cracking down on whistleblowers to withhol

i'm glad i'm here i'd like to go back to you here how well does russia sell itself i mean because we have individual companies gentleman sitting with me here in the studio bay so russia really quite well does russia itself throughout. i think the short answer is no to well. and again this relates to what i've been talking previously you know this perceptions about russia are either neutral or usually you know on the negative side especially when it concerns the west and. a clearly you know we can blame many people but of course it is the russian authorities and policymakers that you know have to have to think about it and work can be done to change the situation to tell that it's a country you know with vast. with vast population surpass consumer market the biggest in europe with potential to take over in consumption. you know the other rich countries that we have in western europe their taxes are low that foreign investment is actually welcome that. is being produced it takes time it's a vast country takes time but it's happening that investment in infrastructure is picking up and so

solution and i can explain that that's a whole other maybe a little bit later dave if i can go do you i mean i've always found that the term occupy wall street to be quite interesting is actually quite agree with a lot with what rachel i do say why don't you occupy congress once you occupy parliament because it's these people that are in the pockets of bankers in the corporate world why don't we just get rid of these people ok if there is such a genuine groundswell for change that's how it can happen. i would have to take issue with what rachel said ok first of all. there hasn't been free market capitalism in the united states for as long back as you want to look in the industrial era i mean the same argument that she's making about the banks being socialist because they have so much government involvement in their business activities could have been said about the railroads back in the nineteenth century they only got what they got because of government involvement in land grants and in financing and everything else so really american capitalism has been a process of using corporations usin

i mean i may not necessarily necessarily share the view but the way the government and the strategic community looks at the relationship i think where this see is that despite whatever the american. the official claim here is that the united states may want human rights may want stability but it's a stability which is the very much different from the way it's in visioned in islamabad especially in the general headquarters army's general headquarters and there's a different perception jacob what do you think about the idea of so stability means one thing to one government and stability means something else to another government i'm thinking of washington and islamabad well absolutely i mean the us empire's position is let's get some regimes that are going to be loyal to the empire do is they're told it doesn't matter how crooked and corrupt they are the afghan regime is about the most crooked in history possibly and now they're upset because the pakistani government and people within the pakistani nation are not willing to support this imperial occupation that's gone on for more than

i mean i can go to the farmers market 50 weeks of the year. you guys may be able to do that here in austin too; i don't know >> right. >> but um and there are a lot of places where the farmers market is only five or six months if that. >> well in fact in some places like minneapolis or chicago where there's bad weather or you know anyplace else it's gonna be harder to sustain >>yeah it is, there's no question and local >> this type of environment. >> but local is not an all-or-nothing proposition. >> right. >>i mean there's a caricature of the locavore as someone who only eats local. i haven't actually met this person or you know [laughter] usually they're writing a book or you know it's some kind of stunt. >> it's like flag-pole sitting right? you know. yeah, i get it. >>so you know it's about it's about emphasis. >> yeah. >>it's about doing what you can when you can. i mean i >> right. >> you know it's not about getting this choice right three times a day. it's like when you can, those votes >> yeah. >> are very important and they accumulate

space i mean i think a big concern that you know there are a number of concerns that are starting toet serviced about our our digital lives we're all very comfortable on facebook and twitter and and on our i tunes and yet there are some significant political issues that are beginning to reveal themselves i mean for one a lot of the public space on the internet is actually privately owned and i think when the courts begin to look at some of these questions they're going to raise some fundamental issues about the nature of public and private space as well as some interesting compelling issues about privacy and intent that it seems like they're going to be looking at sooner rather than later which i guess is a good thing and i thank you from i don't know thank you very much. also to come tonight another u.s. government agency is caught spreading of long oh yeah what are the wonder of articles are cool final word tonight and ahead in happy hour trying to the times of the seventy's straight unveils a new or if not it classic chris christie is a rock about his weight but while female polit

they want to opt out of the system i mean this is that's i'm bringing up the r. word because i'm really sure why he had i think i think they just want more stuff ok kerry and i think they just want more stuff without having to feel it's not where i don't really see it for example. and this is i mean we can take this same discussion and apply it to the united kingdom today it was in the news in the u.k. that according to chamber of commerce report there are jobs in the lore available and people aren't showing up to the interview ok let me say that it's a trend that's happening in the last year almost all the time nor your whole lane gave go ahead but a day that kids are calling for a revolution these kids that are camping out in the cold in sleeping bags and sometimes without even fencer not looking for stuff they're calling for a revolution they're calling for a total change in the system in the united states and the first thing they want is complete money out of the system that would be a revolution in itself. you know as joseph said that so there clearly you're

is that you've had a protracted steady up trend in commodity prices i mean there have been eruptions along the way we've had a little bit of an interruption this year but i think you know maybe one of the best ways of phrasing it is if you had gone back let's say in a time machine to one thousand nine hundred ninety nine ninety eight and told let's say the top twenty economists in the world that u.s. unemployment is going to climb to nine point one percent and that europe is going to be on the brink of a major recession with virtually no growth what would you expect the price of oil and copper to be well i think those economists would look at the prices of oil and copper in the nineteen nineties and they would say certainly at the low end of those ranges and that would be maybe sixty cents or fifty cents or maybe even thirty cents for the price of copper and maybe fifteen or ten dollars for the price of oil today in this world we're sitting with oil at one hundred ten dollars in terms of how it's price in europe and we're sitting with copper well over three dollars a pound i mean the

able to leapfrog them but you know beyond hydrocarbon steven lee well yeah i think it already is i mean solar right now is in many cases competitive with hydrocarbon and so is wind. and china is the one that can produce the lowest cost when the lowest cost solar is so yeah i think that they are leapfrogging to some extent you know there's a lot of work to be done that's why they're spending you know trillions literally trillions of dollars you know developing smart grids etc as far as the oriel that the u.s. may be sitting on right now that's not conventional oil that's non conventional oil and it really is not clear that we're going to be able to get significant by significant i mean twenty or thirty million barrels a day from those let's say shale deposits i mean we'll be lucky to get two or three million barrels a day from those shale deposits that's really the proverbial drop in the bucket as far as that's concerned you know conventional oil is kind of peaking right now i mean we're again i come back to you know instead of arguing about how much oil this that i mean you know there's

well i don't think i mean it back. superficially looks like that no no just to not only destroy it maybe even invaded it one point ok because we changed it seems to be a popular flavor of this year go ahead i don't think that there is the day that they should have my view at all why do i in the way i said it we did it for exact even used a word for exaggeration exaggeration for conversation think it's go ahead i use again islam goes on to exaggeration and misrepresented misrepresentation i should go right ahead. i don't think that you know u.s. can despite what it wants despite the divergence i don't think that that should be on the cards that ought to be on the cards or it is on the cards it would be far too risky a strategy for you know for the u.s. to you know try to come in or tried to do you know another may second kind of an operation until it has actionable intelligence with a mate second we have to be very clear that they had actually actionable intelligence and have the dog have the same there is definitely wh

and you and if you look at it from the perspective of inflation i mean eventually you're going to get inflation and when that starts i think you see you know another leg in this kind of bull market that we've had in gold i really i mean i hate to sound i hope i don't sound crazy. but i think you can almost look at the bull market that we've had in gold and silver is kind of a warm up for what we're going to have over the next ten fifteen years because you know there's no way around it in my opinion you cannot use paper currency as a reserve currency when commodities are scarce now if there's some sort of technological miracle if someone comes up with an analog to cold fusion and becomes very very cheap again all bets are off and i'll be the happiest man in the world but as we stand and talk right now that's not on the horizon at least in my opinion and as long as these commodities remain scarce gold is going to be the only reasonable. reserve currency in the world and i think the chinese see this incidentally and i think they're headed for a gold blag gold back won i mean you know in

>> i mean, i don't think it's there. i mean, i do think it can happen. but if there's anything that... i don't even want to use the word "positive." i mean, if there's anything that's semi-good about this it's that at least both governments are now dealing with reality, and not the finger pointing that we've see >> hinojosa: well, there was a big moment when... with hillary clinton going down as secretary of state where she basically says, "we have a responsibility in this." >> right, right. >> hinojosa: in mexico, how was that taken, after years of essentially the bush administration saying... barely dealing with it, saying, "it's your problem," when hillary clinton, secretary of state hillary clinton, goes down there and says, "we have to look at our drug usage..." and i don't remember if she brought up the issue of guns. >> yes. yes, she did. >> hinojosa: what... how did that go over in mexico, when you have the united states saying, "we bear some responsibility here"? >> it was like, you know, (speaking spanish), you know, finally. >> hinojosa: reall

child protective services workers they closed held homeless shelters i mean they have just there's been a de moving of the public sector at the local level at least here in sacramento we've got a twelve point five percent unemployment rate you're something and i do scream all the low. services role i think my students parent their father has a lot of security right where you take their status should we have to go to embrace and after that short break we'll continue our discussion on global protests state party. and. it's the life long dream for many. months brave real loomis not enough to steer the ship. knowledge. and genuine love to the motherland history are required. people who revive the ancient craft are sailing through the centuries. thank you here in the russian european space partnership. the future of the european satellite navigation system. on board the world's most reliable space vehicle. soyuz rocket is gearing up for the first ever blast off from a foreign base. the landmark launch. ok. welcome back to crossfire guy peter lavelle to remind you we're talking about protests

is it isn't happening the anyway the assembly meetings it hasn't happened yet and i got a job but i mean this is starting and i had had well this started out. on wall street with one occupation it's grown like wildfire all over the country and there are all these different demands developing but we're hearing words like us empire we're here we're seeing connections between us militarism and the inability to fund public sector jobs all of these demands are coalescing and it's very early in this movement remember it's only been a what about a month ok joseph but i mean we just heard what i just think all right let me go to just a personal going to rachel but i mean and we just heard you know we've been focusing a lot on young people there's a lot of middle class people middle aged people involved in this as well as because of the financial crisis and i'd like to point out to you during most recessions income inequality narrows during this great recession a recession a great contraction we've seen inequality actually grow not something new for a recession at least since the second world war

to the present all right gentlemen this is cross i mean you can jump in anytime you want and i very much encourage it but first tell us about this ongoing almost endless crisis there have been quite a few meetings but not much progress the global economy is emerging from one of the roughest squares yet with intense market volatility fueled by the fear that policymakers cannot contain the spreading crisis. means mired in its own debt due to the absence of political will power to avert disintegration this is the most serious financial crisis we've seen at least since the one nine hundred thirty. if not ever now we're having to deal with very unusual circumstances devising a rescue plan that would pull the monetary union out of a meltdown has so far been met with gridlock and resulted in political stalemate among the governments of europe they need for unanimity has significantly slowed the process with countries at odds over the need to recapitalize the banks and the source of the funds to make it happen germany is ready to recapitalize the banks and we need unitary criteria we are under t

moral hazard issue here i mean nobody wants to see the greek people suffer i mean i think we'd all agree on that there but there is the moral hazard issue of you continue to throw money into greece to try to save an economy that most people leave is already bankrupt then you have the other pigs lining up to say will do the same for us i'm not trying to be insensitive fair to say you does this system work or not as you go ahead jump in let me just add you haven't said much in the program go ahead. yes it's not it's not the germans the germans didn't force the greeks to borrow money so the greeks chose to borrow these these monies themselves and it's turned out they were unable to pay and of course there were french and german and other banks have lent money to greece and they'd be the participants that would actually lose out when the greeks defaulted i am not suggesting that actually the greeks were particularly benefit by default and i just think it's inevitable that they will do so that they will default and they will exit from the euro at this stage i think things have gone beyond the

rules showing contemporary movies this is this idea of a festival or well not necessarily vinnell i mean there are wonderful film festivals that are that are concentrated on retrospective for example i don't know if some films are chalk is contemporary they are sometimes very attentive to retrospective part of the example berlin ali and san sebastian film festival well we are not the biggest film festival in the world so we we are trying to concentrate on what is important for in our days when our show casing we're not presenting retrospectives a lot of them are. we are sort of trying to focus our attention on the trends that are delving to be particularly interesting in the nearest yes there is a worry contemporary art which i personally dislike the wounds of this a format i don't really understand what form it means i think that i think that a piece of work including movies can be good or bad but well this is it you can also be forty three or sixteen why knowing well the world this is only seventy four met means but still they see professions like yourselves very that that every first