that was only mcnamara heritage foundation now in the u.s. economic turmoil brew as it may not be taking out on the streets right now as we're seeing in london but it is taking it out on the stock market it's been a volatile week to say the least the market has swung hundreds of points in just minutes we saw that today and the dow jones closed down more than five hundred points now the federal reserve you. after day came out and announced that they'll keep interest rates near zero for two years but do central banks and leaders even have any of the tools left that will work earlier that is one of the questions that i asked financial radio host an economics blogger i meet your coffee nuts here is part of our conversation. course not that's going to happen and the downgrade of the i stand here because of the united states whether it was worth it or not i think speaks volumes about the shift of risk from the balance sheet of banks the balance sheets of sovereign countries which are effect of the backstops for the welfare state so when i get throu

mean on this side of the pond well here to help us figure that out as sally mcnamara not only is she of the heritage foundation but she grew up in nottingham in a police station her home town was destroyed by these rioters are attacked thank you so much for being here so a lot of different areas about not exactly what caused this but what are the root causes underneath it some say social inequality some say austerity measures some say police targeting minorities what do you think is the root cause i mean. it's been a lot of political opportunism here however i think we would be absolutely insane not to acknowledge that we have a fundamentally broken society in britain we have a situation where young kids are seen running out of supermarkets running out of louisville town running out of sneakers stores with bags of stuff that they think is ok to loot and they'll go home and their parents won't say hey you can't steal that there won't be any ramifications from the police we are starting to see now the government is pushing back we are seeing people brought up before the courts already the courts were up all nigh

and in the skies this is sally mcnamara senior policy analyst in european affairs at the heritage foundation thanks so much for joining us tonight now of course you are far from britain so you're really watching some of these scenes from your home country what is that what exactly do you think is going on here because we've heard a lot of different arguments depending on what your political leanings may be from the media from politicians that multiculturalism may have failed here that this might be a welfare state issue that kids have no opportunity but do you think it's well first of all i think it's a national embarrassment and i think it is just absolutely crazy that three months ago we had a million people in london for the royal wedding and not one security incident fast forward three months of we're seeing these riots the government needs to be more prepared because this is going fifteen years in the making and we know that there are huge problems in these communities this isn't the working class versus the rich class this is a whole underclass of kids who have never seen their parents