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yeah well when when we looked at the income inequality across the oecd countries, it's been said you know, that the us had the highest inequality of any of the major industrialized countries in the oecd that was that is part of the part of the problem in that we're not counting all of our transfer payments and france counts all their so far as i can tell. and there is a methodology section of that data and i went and read it all and we do to ourselves in other words if if we submitted the same data that the french did. and that's what part of the data we say is missing. and we've added back in when we did the calculation, we would look a lot different. and in fact if you look at another set data which is based on the national income and product accounts and the percent of gdp that is spent on transfer payments, we spend than anybody except the french, more than the germans, more than the brits and. so that says we're spending that money, but it's not showing up at the end of where the income comes in. you know, i also always the in response in to an article we wrote that is in the ba

you are right, the market is tight, inventories on the oecd side are at multiyear lows.ial and government inventories. what we have seen is oil prices have fallen, strong dollar, risk aversion, investors leaving the oil market, leaving the opec countries to stop the negative momentum in the market, stabilize pricing. guy: how big with the cut have to be to be a real cut? giovanni: we need to make a clear distinction here. if it is applied from the production level, and effective cut would only be a fraction of the real cut. opec less countries are producing more than 3 million barrels a day below the production cut level. if they make one million barrels per day cut, the effective couple be one third out of it. essentially if we got voluntary extra cuts, it could be stronger on the price side. guy: is anything less than 3 million barrel a day cut a cut? basically that would imply that you are just realizing what the reality of the current production situation is. giovanni: and he cut will be a cut but only a fraction of the paper cut. effectively, if we still only have a

in the modern era and potentially the most repressive legislation in any oecd member in recent times. if you have protested in their previous five years, you can be forced to wear an electronic tag and have your home fitted with monitoring equipment. you can be forced to report to police as and when they choose, forced to stay home, forced not to go to certain places, no longer to associate with friends of yours, no longer allowed to attend any protest or come indeed, talk about attending a protest orncourage anyone else to attend a protest. this is just one of the astonishing draconian measures which has been pushed through right under the radar just before the truss government collapsed. amy: i would ask you about your recent piece in the guardian where you write about two, activists who recently threw cans of tomato soup onto vincent van gogh's "sunflowers" painting at the london national gallery to call out the u.k. government's role in fueling the climate catastrophe. your final thought? >> this is desperation. young people are absolutely desperate. what does it take to be heard?

in fact, the oecd, that's the organisation for economic co—operation and development, says that womenimes more likely to take on unpaid caring duties than men. but the cost of childcare varies wildly from country to country. one report reveals that, in europe alone, there are massive differences. in sweden, a family will have to spend just 1.5% of their income on full—time childcare. but in the netherlands, on average, it can be almost 30%, although much of that can be returned through the tax system. here in the uk, it's nearly a quarter of a couple's pay. and in the united states, it's around 13%. and elsewhere, new policies and new investments are being announced. canada, it's rolling out across the country an initiative to cap childcare costs at $10 a day. and injapan, they're doubling the budget for government support for childcare. in the european union, they've just published ambitious new targets so that, by 2030, half of all children under three are in early education and care, and that 96% of children between the age of three and starting school will also be able to access c

i see you the last time you worry, i had the pleasure of saying patients on your and oecd vision and you are now. i share tyour space i'm grateful for this so. >> always great to see you. that yellow is popping,you're waking us up. >> that's my intent . >> the last time we talked you were new to nashville. you hadn't settled in and you haven't tried any chicken . where are you, where are you on that? >> i've had the hot chicken and what's the other one and then helen's, one of them they got chicken to. i definitely delved into that department too much so i got a withdrawal. >> welcome, we are so excited and i'm glad we are national, we're so hard to have glad to have you. at least give us a brief bio of who you are. author, hip-hop scholar, minister, ordained minister and all of the above. we're going to get started d. you know my routine is i have a little post-it notes. i am that person who read it o all so get ready. >> that's amazing, you'll have to tell me what's in there, i probably haven'tread at all . i'm justhelping you, i read the book . >> 3i have 13 pages of notes because

oecd, the political report said it's leaning towards myra. summer of joe biden with his aviators, that seems to be puttering out in real time. >> laura: the number one state that could be a bellwether for an absolute republican wave would be what? let's see a gubernatorial race. if it went to republic, which would preside to republican wave? >> oregon. >> laura: it's got to be pacific northwest. if that goes red, all bets are off of the democrats. >> and i will go back to oregon. it will be safe again. >> laura: the lives of beloved children's characters, why are they being revealed. a big city mayor has an answer to her crime problem. raymond arroyo will bring us the details. "seen and unseen" is next. >> laura: time for our "seen and unseen" segment or we explore the cultural stories of the day with the author of "the wise men who found christmas." raymond arroyo. great to see you. there's a new streaming movie with a big reveal. >> it is a scooby doo movie. >> laura: i was going to say that. it was funnier. velma has a new love interest? >

>> we are working very hard and very focused on this important multilateral agreement through the oecdwhich the u.s. as part of. so we are at the table and working hard and hoping that what we will get at is a conclusion of this multilateral agreement reached with the oecd partners including the u.s. >> i am wondering how important a multilateral approach is in asia with some partners like canada, that this multipronged strategy is to counter china's weight across the region. is that very significant in terms of avoiding a situation where you see multiple trading partners pitted against each other? >> for canada, it is really important that we continue to diversify and provide opportunities for our exporters and businesses. we often talk in canada about creating an economy that works for all. as a small business minister but also canada's trade mr., helping business -- helping them get the benefits of trade and make sure workers get the benefit of the trade means diversifying and looking into markets that are high-growth markets. we're talking about opportunities in the digital economy

i will say that if you look at forecasts from a lot of major international institutions like imf, oecdhave said that they think that the chances of a global recession have risen. that is partly -- again, not definite but more likely. that's partly because you do see financial conditions tightening around the world. it's not just the fed that's raising interest rates. central banks around the world are raising interest rates for the same reason. you have a lot of disruptions in m commodity markets. >> unfortunately, we have to leave it there on that note. thank you for your time. >> thank you. >>> thank you all for starting your morning with us. boris, we know it's going to be another tough day for the people of florida. >> a tough day, amara, and a difficult future. it's hard to look at some of these images of devastation in southwest florida and central florida and imagine that this recovery is going to be expedited. entire communities were wiped off the map. it's difficult to communicate how widespread the deaf nvastat is. it's hard to imagine this area getting back on its feet quick

so if you look at all of the, oecd countries in the last three years, are you ready for this, liz?0 trillion. $20 trillion. it is not surprise that you have inflation all over the world. elizabeth: let's talk about that because inflation, all right, inflation is like 1000% in venezuela? we should tell people in venezuela you know, inflation is just a global thing, not maduro's fault. they are great guys over there printing trillions of bolivars? >> as i said, when you have got governments that are out of control and unfortunately, liz, i hate to say this, but that includes our own government here in america, that are basically printing these massive amounts of money through government spending, you're going to have a world inflation crisis. it is very much, liz, you and i are i think old enough to remember the '70s when we had the same kind of cycle, the inflation problem wasn't just in the united states it was all over the world that didn't do jimmy carter much. elizabeth: i don't remember the '70s. just the hucapoo shirts just kidding. what is the gop plan to fight inflation? >>

do you know how much all of the oecd countries have spent and borrowed since covid hit?20 trillion. this is the most absurd thing. this little tiny tax cut, this little mouse in the tax cut , meanwhile you've got these elephants of gigantic spending plans and oh, my god they want to cut taxes. stuart: wait a second >> they should fire everybody at the imf. stuart: do you think some of the politicians, europe and maybe here, will be forced to follow britain's lead, and that is cut spending because of the pressure from central banks? >> here is the thing. i want to make sure your viewers understand this. they didn't cut spending in britain. they got rid, the one good thing in the plan which was the tax cut, to encourage more investment and more production, which reduces inflation so the world is upside down right now. yes, the single-most important thing in the united states and around the world right now in every developed country is to dramatically reduce government spending. government spending is the cancer. it's the virus right now that's killing the economy. stuart:

. >> meanwhile do you know how much money the central governments of the oecd countries borrowed overway up. tiny tax cut down here this will be the end of the world. this shows what a lot of international leaders want more government, more government. that is what the united nations wants. that is what the central banks want. one other quick point when the united nations we care so much about the poor. wait a minute the poor are victims of high inflation. charles: right. >> they get killed by inflation. charles: they're never going to get unpoor, just living day-to-day become as big struggle for them. steve, what do you, steve forbes, rather, what do you make then of what's happening just even here in this country right now? where are we going? >> the exact opposite of where we should be going. the early 1980s we learned stablize the dollar, have growth, tax cuts, deregulation, the u.s. booms and rest of the world imitates. 50 countries cutting taxes after we did. we had a global boom for 20 years. so they're doing the opposite. they're suppressing production, not only of energy, but

has had lower comparative inflation, core inflation from oecd peers from q1 2020 to q2 2022. now i would like to recognize -- we are going to recognize congresswoman brown for five and subquestions -- five minutes of questions. >> thank you, this week jbs owning the largest fleet in the world has agreed to pay millions of dollars -- and potentially eliminate competition to inflate prices. this is not the first settlement of their kind, meet producers of all kinds have entered this settlement after accused of price-fixing. the settlements are not an admission of wrongdoing, it opens up the conversation of how concentration at the top trickles down to store shelves around the country. can you explain how large-scale consolidation with an industry can drive up prices for consumers? >> absolute, take the for example, for companies control 85% of the industry. that means two things. if one of those companies goes down for any reason, the whole supply chain form meat is disrupted and drives up prices. it also means they have an enormous amount of pricing power because of the market

level of chinese citizens paying income tax, roughly 7% of the population paying income tax versus oecdf 45%. so, he is extraordinarily powerful but still shows himself unwilling to use political capital to push through, i wouldn't call them reforms in a liberal sense, but to upgrade and modernize the fiscal system. and i don't think it is a matter of he doesn't have enough power and maybe two weeks from now we are suddenly going to see a new world, he clearly just sees it as two frocks with risk. so, he is unwilling to push those adjustments. shery: is that because use capital and the political aims he has to play domestically? he is potentially getting a note from year and a new economic advisor, the vice premier is set to retire? jude: yeah. one thing people are watching, if we see a full suite of retirements, and it could be at pboc, it could be at cbirc, we could see the whole senior team of economic policy advisers leave. and early indicators, when you look at people at ndrc or even if you see someone move into premier, these people are not coming in to rock the boat or go in a di

here or whether we want to be a country like some of the others from the anglophone countries in the oecdralia, canada, which have lower levels of tax at lower levels of spending. but we cannot have, obviously, is low tax on high spending so that is what i meant by the scope of the choices that are available. in the shorter term, it looks like we're going to have to have either some relatively modest increases in taxation or some quite difficult cuts in spending in order to get us towards a fiscally sustainable position but we are in the midst of huge economic uncertainty so i think the ideal position to be and would be to say, actually, we're not going to make big decisions in the short run. we are going to wait and see where we are going to wait and see where we are in the year or two and that is why, that is where i do wonder whether the current uncertainty makes that perfectly sensible decision more difficult to achieve because everything is so spooked that saying we will make those hard decisions in the year or two might look even less credible than it would have done just a few mont