>> jacoby: we are trying to. >> (laughing): okay. >> jacoby: are we insane?no, no, i think it's a great idea. >> jacoby: okay. stiglitz told me that while the fed was doing some good, he also had concerns at the time. >> the main thing i was concerned about was that the way they were trying to revive the economy was a kind of trickle down economics. the way quantitative easing works is that it's a lowering of the interest rates that leads stocks to go up. and so who owns the stocks? it's the people in t top. not justhe top ten percent, one percent, one-tenth of one percent. and so it increases enormously wealth inequality. we had had increasing inequality really since the late '70s and this was putting that on steroids. so the immediate objective of saving the bking system was achieved, but the broader objective, which was helping the economy recovery quickly in a robust way, in a way with shared prosperity, total failure. >> jacoby: what sort of response did you get from folkst the fed to what you were saying at the time? >> "our mandate is to do what we can

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but in russia, which produced the world's 1st domestically developed jacoby 19 job, many people are reluctant to take it. and that's leading to a record number of deaths. and after the initial optimism of a fast vaccine rule out in the u. k. are the parts of western europe and china infections arising. it'll be very interesting to see what happens in, in the northern hemisphere as by and large many countries have no restrictions at all now. and back to things. obviously the whole population is not vaccinated. and, and as they go into winter, people are closing the windows and doors and there's a higher risk of transmission in both households and businesses and social social settings. so i think where we're about to learn a lot and that is how much we can rely on the vaccine on to why richard nations are racing to give booster shots. poor countries, particularly in africa, are struggling to get supplies of back scenes, leaving millions of people, fundable, conflict and poverty have already devastated healthcare systems in syria, yemen, haiti, democratic republic of congo, which have yet to vac

it's scoring that interrupted that very smart jacoby, that displaying on. so that's point number 2 point. see the be rather said he would be ship the coffee that we are almost back to be covered levels. and hopefully once the vaccination, which of course is also proceeding very well, then we will be able to resume our growth. and in fact, i've written several articles on this topic saying that we are like you to see a repeat of the roaring, twenties of resource entry of going professor that on, i think that was sent back to you about judy schemes being implemented at the end of the stick indicators which we have to see some people's point of view and not on the business point of view of the court put a point of view to our people, getting enough food. are they getting enough employment? what are they? the ages have the wages fallen on not fall, and i think these are the fundamental indicators between really need to talk about . now those diminished are back, it is primarily for the supply side. it's a demand site. it's only demand which can really increase

his country can reach its goals on time, but only if richer ones increase their financial support. jacoby, dodo is one of the signatories, committing to ending deforestation by 2030 indonesia actually home to vast tracts of forest. he also says it might be able to reach its net 0 net 0 goal earlier than 2060 if rich countries pay what they've promised in climate finance. jessica washington as more from jakarta, in terms of indonesia progress on stopping deforestation. it is rather a mixed bag, the government is quite optimistic that things are heading in the right direction and pointed to recent data, which indicates that in 2020 entities as deforestation range felt by 75 percent to its lowest ever since they started monitoring those because in the 19th, but environmental groups will say that, well, it's really not that clear college. and in fact, they will point to some factors which may have led tooth that drop in deforestation rates in 2020. but they do also have concerns that it's not so much a reduction in deforestation as a whole, but rather a shifting of the problem from areas such

a state of emergency was declared commodity prices have not changed much cuz jacoby law after entering the state of emergency, my business has not changed much. and i can see my customers coming to buy things every day, just as before. i'm not too worried about what will happen in the future, but i hope that our country will at peace soon money. but not every one is confident. the u. s. embassy in the suburb but ordered the departure of it's not essential. diplomats on saturday a day after advising all us citizens, to leave shipyards soon as possible. and several other embassies, including those of so de rubia, canada, sweden, and no, we have now done the same mohammed out the well, just either i to suburb a few appear still to come on al jazeera, a quarter of a $1000000.00 is an offer for the innovations that may shape our future at tech show in katherine as the move away from fossil fuels, gavin pace sites like this will become more and more common. we pay a visit to scotlands oil ranking graveyard. ah. when does the store at the moment weather wise where its extremes, never tick, le

those - this included my lovely son jacobi and his friend michael.e who were responsible for— and his friend michael. those who were responsible for the - and his friend michael. those who i were responsible for the monitoring of mcleod _ were responsible for the monitoring of mcleod have _ were responsible for the monitoring of mcleod have many _ were responsible for the monitoring of mcleod have many questions - were responsible for the monitoring of mcleod have many questions to. of mcleod have many questions to answeh _ of mcleod have many questions to answer. ,., . of mcleod have many questions to answer. . ., of mcleod have many questions to answer. ., ., ., , , answer. the impact of what happened are still being — answer. the impact of what happened are still being felt, _ answer. the impact of what happened are still being felt, not _ answer. the impact of what happened are still being felt, not least - answer. the impact of what happened are still being felt, not least by - are still being felt, not least by the family and friends of jacob t