nobel economics laureate. america will have a joint collapse much bigger than in two thousand and eight mr prescott let's start with. the water if you have. four children and give more credit cards. but tell me that they have to behave responsibly and one of them does. what. it's. because of the problems and that we have to sort of cut out that it's analogous to the subprime mortgages which made it was not beneficial to either side but the government wanted to foster home ownership pretty much set of a bad system the problem is that the germans and the french went to somebody they should not run to. and somebody who should not be borrowing. matters should not of the borrowing should when people monitoring the market should let their corporation in the usa have some big ones and then many of bankrupt and the old people vote. all people want the place to say so the. french and german governments said to the banks and then the bank saw them do with all this money and they said well you know what has greece gone w

so you can watch the full interview with nobel economics lord edward prescott in twenty minutes time here on. the u.n. special envoy to series urging the security council just send a message to both syrian government and the opposition but there will be consequences if they don't comply with the peace plan coffin and also says president assad has discussed with him the forming of a transitional government and appointing someone at a middle as a middle man for the regime on his ass he's marrying a partner with. kofi annan says first and foremost it's most important for the u.n. security council to act with one voice right now applying pressure on all parties in syria to comply with their responsibilities of the six point peace plan a plan that calls for an immediate end to violence the joint special envoy says that this curity council of course could even include consequences on parties that do not comply with their obligations to to end the violence in syria mr anon also indicated which he has over and over again that he believes that iran could play a very positive role in helping t

well you can watch the full interview with nobel economics laureate edward prescott in twenty minutes here on r.t. . tens of thousands of people attended a funeral in saudi arabia for activists killed during recent demonstrations the un ratz was fueled by the detention of dissidents and growing calls for political freedoms and civil rights political analyst dr morse and so they think the united states backing their contradicts the democracy it preaches. they sold the saudis with the backing of the americans they thought that this lands and people slaves under their government that's why the. people are peaceful people demonstrating over the months i mean duration. and this they want a certain kind of dignity and honor and try to have social welfare in the place where we know yawn and produced from their district the united states backing this monarchy they say they want democracy and the freedom as a time when their friends. they are preventing their citizens living this kind of life there is a revolution covered up revolution where media does not cover all of this evidence . things a

and you can watch the full interview with nobel economics lord edward prescott in just over an hour here on r.t. . the un special envoy to syria is urging the security council to send a message to both the syrian government and the opposition that there will be consequences if they don't comply with the peace plan cough and and also says president assad has discussed with him the forming of a transitional government and appointing someone as a middleman for the regime his arse he's wearing a fortnight. venning goodness statics round the clock operations a product always being exported america's mainstream news industry generates power and profits but it seems partisan reporting and frequent gaffes may have made many americans turn away from the big broadcasters a recent gallup poll shows an all time low of only twenty percent of the public trusting the news many say this means citizen journalism is becoming a big game changer and the amazing thing about training citizens to be really good pundits is that they they have a wealth of information that journalists just don't have when you hel

economics became more popular during that time period. he is certainly a heroic figure in my book with the austrian school. one of his closest associates won the nobel prize in economics in 1974. so yes, he is an important character in my book. >> when they talk about the austrian school, what is that mean? >> well, it is one of two major schools of economics. the other schools the chicago school and this is a more hard-core school that advocates the gold standard, it is very suspicious of intervention by central banks. particularly, the business cycle is very important because they say the manipulation of interest rates by the federal reserve can only have disastrous effects. it is a cycle that is unsustainable, a boom that will inevitably lead to a crash. it did not surprise the austrian economist at the boom did not last and had these effects. >> also there was possible easy. >> oh, i have a whole chapter on marx. so you know my view about him. each chapter has these very clever titles. i tried to create them. for milton, it is milton friedman's paradise. >> posses a great attitude. he defended him at harvard to teach there, finally he got kicked

certainly think so too but yes the middle class has really taken a hit as joseph stiglitz nobel laureate in economics remarked a few months ago we can no longer pretend it isn't true the upper one percent now owns forty percent of all the wealth now it takes home twenty five percent of all the income the average income the median income in the united states household income is fifty thousand dollars right. there four hundred billionaires in the united states if you get a five percent return on your on your billion you know you get fifty million a year doing nothing. you know a million times more thousand has more. but the root cause of this i think really does go back it's not something that's just come about because of the financial crisis it really goes back to the mid seventy's a striking thing when you look at the data is that household incomes have been rising steadily through till about one nine hundred seventy five and they have flat lined since for the middle class this would seem to create a problem because if people aren't making more money you know yet more and more stuff is being produced

then at 10:45, former chief economist at the world bank, nobel prize winner on why growing economic divisions are bad for our economy in "the price of inequality," part of book tv this weekend on c-span2. >> the international aids conference is being held in washington this week. we will hear from former first lady laura bush. this part of the conference is one hour. [applause] >> good afternoon, i am helene gail, a delay pleasure to open this section of the conference. throughout this conference, hiv aids is taken over women has taken over 50% of people living with aids. the multiple cultural, social, economic, and biological factors that put especially young women and girls that disproportionate risk for hiv have been explored. in keeping with the theme of this concert --, we're looking at tangible solutions beginning to turn the tide for this epidemic and get all of us new hope. whether access to treatment and its dual treatment and prevention impact, pre exposure prophylactics, or increasing rates of circumcisions for partners, we now have no biological tools that will help prevent and tr

nobel prize so he is an important character. >>host: what is the austrian school? >> when of two major schools of economics one was developed in the '60s this is the more hard core that advocates the gold standard and is very suspicious of intervention might central banks because they say the manipulation of interest rates by the fed can no may have disastrous effects. with of gloom that is unsustainable. it does not surprise austrian economics -- economist the real-estate boom could not last. >>host: you also highlighted another member. >> have a chapter called march madness. you know, why you soho but each chapter five try to have clever titles. it is milton's paradise for milton friedman. also a marxist economist at harvard one defended having pallbearer then the he was kicked out from his monthly review publication in to defend socialism and marxism. is slight gain marilyn monroe to pose for the first issue of playboy. it is from the academic point to view both schools are very pessimistic about their future. with the "twilight" of capitalism. that it is about to collapse at any time. with economic boo

economics. it's not a real nobel prize. n add-on from late 1960s established by the central bank of sweden and its formal name to something like the central bank of sweden prize in economic sciences in memory of alfred nobel. they don't mind if you and i caught a nobel prize. they're happy not to correct essay thing, but informally it's not a nobel prize. but in any case, alfred nobel establishes five prize in the last forever peace anyone surprised principally for those who figure the cause for fraternity between nations and that's the signal phrase regarding the peace prize. fraternity between nations. also human cell press is your wear for work done during the preceding year. this is a surprise to me. i reset the nobel prizes were cumulative awards a lifetime achievement award for golden handshakes at the end of an illustrious career. but i think -- i didn't do any math, but no more than 10 or a dozen of the winners and you write about them, probably actually fulfill what was the nobel laid out. there's one other element

at the beginning of the show saying hey just because you have a nobel prize in one area does not make you an expert on everything economic under the sun that everybody should listen to and now wasn't it paul krugman also got some i don't know feel like they ganged up on him on squawk box today i want to play a little bit of that. but what from actual own amount that the government should take that as a percentage of g.d.p. do you have a number for ram this incredibly or what i want to try to figure out you know look i mean when it gets about this when it gets above fifty and i start to wonder a percent. so paul krugman would start to wonder if government spending became fifty percent of g.d.p. reactions you want to pile on here oh sure i'll be happy to pile on and add france is a fifty percent right now so you know where's it going to go on your own line and france has an unemployment rate in spite of all other social burthen spite or are they nor do i as an unemployment rate of ten point one percent as a ten point zero anyway it's over ten percent or now all of europe is over is struggling out on employment and they hav

in did all the work and i got most of the recognition, friedman observed, who received the nobel prize in economic science in 197 . i ask the house join in paying tribute to this most inspiring woman and expressing both our gratitude and condolences to her family. the speaker pro tempore: the chair lays before the house a message. the clerk: to the congress of the united states, section 202-d of the national emergency act, 50 u.s.c. 1622-d provides for the automatic termination of a national emergency unless within 90 days prior to the anniversary date of its declaration the president publishes in the federal register and transmits to the congress a notice stating that if the emergency is to continue in effect beyond the anniversary date, in accordance with this provision, i have sent the enclosed notice to the federal register for publication stating that the national emergency and related measures dealing with the former liberian regime of charles taylor are to continue beyond effect from july 22, 20 12, although liberia has made advances to promote democratcy, a special court for sierra leon, r

this is the nobel laureate and the 1993 article, looting the economic underworld of bankruptcy for profite emphasizes the great thing about account aing fraud is it's a sure thing. and the fourth thing is it's the opposite. you lose your job if you refuse to engage in the fraud. so, the average cfo in america has a tenure of three years. now, that's all kind of problems to begin with, you're never going to get a long-term perspective out of that. >> yeah, hold that thought right there, hold that thought, bill. we'll keep you on the line and we'll come back. i want to keep talking about this. we'll get right back into it after this break. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical

roubini and stiglitz and nobel prize winning economist krugman there are macroeconomic solutions are worthless but this is not a macroeconomic problem this is a micro economic problem micro economics concern to some things with things like price discovery and supply and demand issues curves meeting and what the price is that generated by these two things meeting in the open free market society and what you've just described and i completely agree with you is that the price discovery mechanism the micro economic plateau upon which this global economy sits is totally corrupted and this is the he this insidious. bit about why bore is that it's the macroeconomic grain of sand upon which is built civilization which is that dissolve thing because it is on anchored to anything but the fraudulent intent of those who are manipulating the price in ways that tilt the free market pool table of wealth in ways that were all the balls of wealth go into the pockets of the few it suits my career nomics to stop macroeconomics and as we see the pick up in the decline going on in the global financial collapse this is partly i think because you know we see this massive group of

nobel me himself we have to bear in mind that the accusations the allegations against him dates back to before he really rose the famous is still a criminal investigation this teeny with an alleged economic crimes against him in this sense to really bear some similarities to another case it's currently ongoing a courtroom actually just behind me the trial of pussy riot three defendants who back in favorite took part in a so-called punk prayer curses in christ save a cathedral and it really offended many of the faithful of the russian orthodox church ever since there we've seen these three individuals championed by international media by. in session he writes organizations and indeed by international musicians as pro democracy and that's really what overshadowed the criminal proceedings were seen taking place and still an undecided case here. in moscow thank you. for another u.s. is preparing to send hundreds of military police across the world to help local authorities handle security when needed special units have already been created by the country's marine corps and the move comes after a recent report claimed that washington's multi-million dollar effort to train local police in iraq

then at 10:45, former chief economist at the world bank, nobel prize winner joseph stigeltt. s on why growing economic divisions are bad for our country. part of book tv on c-span2. >> washington journal continues. >> our topic, money in politics, nobody knows it better than sheila krumholz, executive director of the center for responsive politics. good morning, thank you for being with us. guest: thank you. host: bloomberg business, karl rove, in 2000 he was bush's brain and now he wants to be the $1 billion wallet as well, focusing on american crossroads, one of the number of suprapacks for theand republicans, changing campaign 2012. guest: absolutely. this is a whole new ballgame. we are looking at a system that's brand new for a presidential election cycle whereby the money can come from corporate treasuries, labor treasuries, trade sowses and folks like karl rove, political operatives who have been important strategists and fund-raisers for a long time are really holding many of the cards this time. their behind the scenes, but very powerful. host: among the people who are some of the key trib to

economic -- we saw tonight 2008 and 2009. we did it by using the smartest and most state of the art thinking of our great universities. nobeln investment. we, the american people, countered it with the jobs act of 2009, just when we needed it to prevent a second great depression. third, that health care bill. we as a country faced up for the first time in our history to our duty. we agree every american has to take personal and family responsibility for their health needs and agreed as a country to meet our duty on health and millions rely on emergency realms. we agreed that every american should meet their own health duty, not to dumb the cost on someone else. it is the president's duty now to tell people. this country's middle class that has health insurance.

economic -- we saw tonight 2008 and 2009. we did it by using the smartest and most state of the art thinking of our great universities. nobeln investment. we, the american people, countered it with the jobs act of 2009, just when we needed it to prevent a second great depression. third, that health care bill. we as a country faced up for the first time in our history to our duty. we agree every american has to take personal and family responsibility for their health needs and agreed as a country to meet our duty on health and millions rely on emergency realms. we agreed that every american should meet their own health duty, not to dumb the cost on someone else. it is the president's duty now to tell people. this country's middle class that has health insurance. people that have health challenges, how this will make things better for him. he needs to sell the health care act. as if he were talking to a 2-year-old and he can do it. that's "hardball" for now. thanks for about with us. "politics nation" with al sharpton starts right now. >>> welcome to "politics nation." i'm al sharpton. tonight's lead -- an orchestrated smear.

economic inequality. >> young people tell the truth and so the, thus far let us implement the truth here. so here i am asking, where are the chinese nobel peace prize win center ask yourself in your conscience and ask yourself how we should behave in front of that fact that our laureate is in prison. and for what doing what we have been doing. but returning to your question, until the end of the 20th century the world was very differently divided, continents were divided, countries from one another and the borders. of course the fact there was great disproportions in the development and standard of living. in the united states perhaps you could not see it that clearly. but in europe we can see it perfectly well. now when we have advanced the technology so much that we can no longer become confined to single space in countries we come to realize that we have to enlarge the structures in which we organize ourselves and during the lifetime of this generation we need to quickly enlarge our organizations or otherwise we shall lead protests which have already started but will continue increasing in the future. for me as a revolutionary, i bel

nobel prize winner lech wa lelesa. but it was overshadowed by comments he made at a fund raiser in israel. he suggested that culture was a contributing factor to the economic inequality between israelis and palestinians. the statement enraged some palestinian leaders. >> palestinians and israelis may be in conflict, palestinians and israelis are people, equal. such racist statements do not serve those trying to protect and save lives in the region. >> reporter: the romney campaign said his comments were mischaracterized in a rare move they release aid full transcript of his remarks at the private event to try to clear it up. the white house decluined to weigh in. >> it is clear there are some people who have taken a look at the comments and are scratching their heads a little bit. i would leave tight governor romney to further explain what he meant what he intended when he said that. >> reporter: the palestinian dust-up just the latest on the week-long foreign trip. last week in london, romney riled up the brits when he suggested they may not be prepared to host the olympics. romney heads home tuesday and back to the campaign trail. next challenge for him

nobel laureate "new york times" columnist paul krugman earlier this week on "squawk box." pedro schwartz injos us from madrid, a spanish economist, a former member of the spanish parliament, currently serves as professor of economicssity in madrid. i don't know whether you knew that you would go viral on this. and i don't know what the spanish word for viral is, professor, but the debate where you're, i think, giving a pretty thoughtful critique of professor krugman's book has been seen millions of times, i think, by now. did you have any idea that a boring economic debate would become so popular? >> no. usually i teach 25 to 30 people. not tens of millions. but there you are. >> you gave a lesson to one person in particular, one notable person. i'm going to try and sum up for our viewers exactly what you were saying. keynesians got us into this mess, and thousand we have now sacrifice our principles so that they can get us out of this mess. i've watched the tape, and you were basically saying a huge increase in aggregate demand, because of the low interest rates engendered by the euro, caused this to happen. and now any attempt to fix it shouldn't involve the root cause of the disease. >> well, exactly. you have

nobel laureate and an academy award-winning musician. they told the crowd life and health are much more important than economic efficiency. organizers say about 170,000 people came out today to listen to the message and to raise their own voices. demonstrators demanded the government stop restarting nuclear plants and decommission them. >> translator: i cannot believe they operate such dangerous things when i think about my child and other children in fukushima, i cannot help but do something. >> translator: it would be a great shame for all japanese if another nuclear accident happens again. i'm really angry with the terrible politics that politicians play. >> reporter: government officials have heard that before. but they say japan needs nuclear power for now to avoid electricity shortages. especially during summer. however, prime minister yoshihiko noda is promising to reduce the country's dependence on atomic energy. just how much and how fast, though. it's still up for debate. he's planning to set the government's future energy policy by the end of august. these people say he should reflect their voices before he mak