and mervyn king the head of the bank of england inflation jumped to four point five percent and is due to hit five percent by the end of the year but despite this they're saying i don't raise the rate this is exactly i'm talking about inflation is rising the price of food and energy is rising but they won't let interest rates or wages rise because they want to keep rates near zero to finance their speculation and whenever they make a bad bet of course they get bailed out by the taxpayer who the. it has to suffer austerity measures to pay off these deaths it is financial repression it's using the globalized financial networks to impose that what i call the casino ghoul leg model of economics and mervyn king is being again like others in the system he's got a gun to a said osborn the tory from the u.k. is a financial serial murderer we remember the big bang started in the u.k. when margaret thatcher unleashed this model upon us and one of the very first assets transferred from the public domain to the private banking class was the public transport system and i want to know one thing abou

washington center over by the muniart close to the old mervyn's builting, sears building. all i will say, we are working very hard with the mayor's office of housing to do outreach to the community now to see if that's even a project the community will support. i will tell you that the community ultimately will have my support in that. what i would ask is that everyone has open eyes and open ears about it. i do think we need to do this. we need to provide these housing projects. however -- and we need to do them throughout san francisco. however, i'm open to the fact that king edward ii may not be the right oneful. as our told -- as i told our mayor's office of housing who i am working closely with and respect a great deal, it has gone so far down the road where the community may be past the point of no return in terms of support. i want to let that process play itself out. i know it's been a big deal. it's not necessarily a budget issue right now. i'm happy to take it offline. >> [inaudible] >> i completely agree that's one of the biggest problems with the king edward ii

the globalized financial networks to impose what i call the casino good leg model of economics and mervynking is being again like others in the system he's got a gun to a said osborn the tory from the u.k. is a financial serial murderer we remember the big bang started in the u.k. when margaret thatcher unleashed this model upon us and one of the very first assets transferred from the public domain to the private banking class was the public transport system and i want to know one thing about the public transport system in these inflation number is public transport fares rose by five point three percent on the month of april and by twenty two point three percent on the year so remember we're told that we have to transfer this to the private sector because they're so much more efficient and lower prices for us on the services that we'll hand to them so that was a scam government is good at running stuff like transportation and co-operative networks that's what they're good at economies of scale and get the best price private sector is good for introducing stuff like apple computers and com

do remember the bank of england, governor mervyn king said a couple weeks ago he said that inflations the british isles could peak at 5%. not good news at all. >>> this continues to be very much an underkrun at cross investors' minds at the moment. here's the story in asia. australia the biggest gainer up by 0.75%. apart from that, though, it was a pretty quiet day. >>> now, still to come on "world business today," launching into the final chapter of one phase of space history. what's next for the space shuttle "endeavour"? and the global recession has made getting a job -- a harder job in some places but not all. we'll tell you where the business buzz is these days. stay with us. >>> let's bring you up to date with the situation in ireland. the queen on her first state visit to the republic of ireland. we had been reporting that two explosive devices had been found, one in ireland and one had been defused in dublin. it now turns out that was a hoax. that's the latest on that situation in ireland with regard to those two explosive devices that we reported to be found in ireland acros