say thank you very much indeed frederick erickson from the european center for international political economy joining us live there in brussels we appreciate time thank you. well more on all of our stories for you on our web site you can indeed see that interview once again by simply logging on to dot com here's a taste of what else you'll find there right now extreme situation christians in israel of course in the crossfire between jews and muslims as they get targeted by radicals. plus russian police detained two teenagers suspected of killing a man by throwing a car wheel from the tenth floor from apartment building. to dot com all the time. to look at some world news in brief this hour more than twenty thousand people of athens to commemorate the one nine hundred seventy s. student uprising against the military dictatorship at the time there were clashes with police outside the american embassy with tear gas used and dozens of arrests made just as were venting their anger at u.s. support for the country which then ruled greece. germany has stepped up security at airports and train station

in all that is no longer willing to do saying something like that markets cover that faster political economy well financial troubles have also spread far beyond the republic of georgia trying to model itself off the united states in any way it can and to please you can also to break just like washington is a mass spiralling foreign debt money's being borrowed but where's that all going. to investigate. anyone who's ever received a hefty credit card bill you know the pain of having to pay off what you well judy could face an eight hundred million dollars bill in interest payments by twenty thirty. to spiralling foreign debts. global of debt has doubled over three years there is an international norm saying that if a country's external debt which is sixty percent of g.d.p. then the country is considered bankrupt we are currently at over the forty percent mark of georgia continues this it is entirely possible that we will find ourselves in that situation. external debt is now a major concern for the country and the government has come under heavy criticism for borrowing so extensively one of th

that was markus kerber a professor of political economy in berlin with its aspirations to join the e.u. georgia certainly seems to be much in the union at least in one respect the country's foreign debt is increasing spreading fears it could soon go bankrupt and critics say little of the borrowed money is actually being spent on people's needs with huge amounts being poured into vanity projects r.t. sarah first has this report. anyone who's ever received a hefty credit card bill the pain of having to pay off what you well judy could face an eight hundred million dollars in interest payments by twenty thirty you spiraling foreign debts. the level of debt has doubled over three years there is an international norm saying that if a country's external debt which is sixty percent of g.d.p. in the country is considered bankrupt we're currently at all with a forty percent mark of georgia continues this it is entirely possible that we will find ourselves in that situation. external debt is now a major concern for the country and the government has come under heavy criticism for borrowing so ex

thank you and marcus kubba who's a professor of political economy in berlin says more and more taxpayers in europe's biggest countries are now turning against plans. the german taxpayer is no longer willing to lease is very very becoming very reluctant to bail out countries like greece. example of very bad governance and we are no longer willing is in either to bail out ireland to fuel an ailing banking sector i think this is a general incentive this umbrella which the. heads of government have created in a under the menace of the president of the european central bank this is so large that everybody wants to be protected and the more it's raining cats and dogs the more they want to be protected and the portuguese. prime minister and the finance minister pushed island to put themselves under the umbrella to be under the umbrella themselves as quickly as possible this is an inflation of claims to be bailout which will ruin the eurozone sooner or later and the german taxpayer who has a word to say in all that is no longer willing to do saying something like that after months hurtling aroun

is no longer willing to do saying something like that and that was marcus kerber professor of political economy in berlin well financial troubles have spread far beyond the e.u. and the republic of georgia is trying to model itself after the united states and anyway can at least you can now celebrate just like washington it's amassed spiraling foreign debt money is being born but where is it all going are you sarah ferguson estimates. anyone who's ever received a hefty credit card bill you know the pain of having to pay off what you well judy could face an eight hundred million dollars in interest payments by twenty thirty. to spiralling foreign debts. basically the level of debt has doubled over three years there is an international norm saying that if a country's external debt which is sixty percent of g.d.p. then the country is considered bankrupt we're currently on top of the forty percent mark if georgia continues this it is entirely possible that we will find ourselves in that situation. external debt is now a major concern for the country and the government has come under heavy criticism

the people who 30 years of economic political economy changes and financialization of the american economy have conferred outsized benefits on. that's what we're going to do. while everyone talks about the deficit, it is shocking to watch this happen. >> why in the process though, are democrats letting the bush tax cuts define this conversation? why not just bring a middle class or job-specific tax cut to the floor in the lame duck congress while there's still one hand on the steering wheel or actually both hands on the steering wheel before one gets cut off? >> that's a very good question. i would give people a little history reminder about the power of lame duck congresses. if i am not mistaken, in 1998, a lame duck congress impeached the president of the united states, okay? after being drubbed at the polls, lost seats, poll offer poll showed they did not want the president impeached, they impeached the president in a lame duck session. surely you can bring a middle class tax cut in a lame duck session and be within norms. >> 1998, i have no recollection of that at all. republicans vote

this is r t live from moscow i'm marina josh welcome to the program center stage of world economy and politics is shifting to the asia pacific region and that's the view of russia's foreign minister sergey lavrov he was speaking in china at a meeting of ministers of three emerging powers russia india and china part of a powerful bloc known as brick which is hoping to change the economic landscape of the planet so who's already leaving the dominant powers of today behind artist s. are cilia knows the answer. from a pile of ruins right after the second world war to an economic powerhouse second only to the us all in the span of a single lifetime major pan economic miracle while you enjoy it but

i don't think there's the political will to do this until we get the economy going back again. i think neither political party has a plan to get it going. >> hold on. let's let wayne get in here. >> either party doesn't -- neither party has a plan to get us to 5 or 6% 6% unemployment. >> wait a second. wayne, go ahead. >> i think julian is absolutely right. there is no political will to do this. republicans and democrats are going to disagree about it. the only way we can possibly try to start doing there is to chip around the edges. you could index this to the -- to the fact of longevity in our lives. there are all kinds of ways to make this palatable. you've got to face political reality and realize that congress is not going to do what you want, jonathan. they're going to do what they want. the only way to do this is by stelg to the people. >> i want to pose this question to tracy. how about private advertising the system in that has been attempted in the past. >> how about actually let's move toward that. wayne, here's my question to you. why not phase it out? look, anyone m

the center stage of a world economy politics is shifting to the asia pacific region. well that's the view of russia's foreign minister sergei lavrov off he was speaking in china at a meeting of ministers of three emerging powers russia india and china part of a powerful block known as bric which is hoping to change the economic landscape of the planet so who's already leaving the dominant powers of today behind. in a different way. from a pile of ruins right after the second world war to an economic powerhouse second only to the us all of the span of a single lifetime major pan asia economic miracle won't go you but nowadays the land of the rising sun is becoming the land of rising discontent. the unemployment rate itself is. around five percent but what's problematic is the quality of the jokes play on your side of you being cut. even when companies hire new people they tend to the condition of without social security so the social benefits economic growth is on a standstill and export the engine of its economy are hurt by a soaring him pushing them to take their bus

on my right, we have an mit professor of political economy and international management. on my far right is an economist formerly with goldman sacks. she has written a provocative book on how the west was lost. let's go started. bob, let me start -- first, we have a few statistics to give people the scale of what we're dealing with and the change. china has the gross national product of about $5 trillion. compared to that, the u.s. has a gross national product of $15 trillion. but the chinese figure is growing at a rather dramatic rate and they are closing the gap all the time. the third player here, india, it is only about a fourth the size of china in terms of gnp. but the growth rates in all of these cases, except our own, are on a fast scale. china is expected to grow this next year at 9.5% and in debt at 9.8%. compared to them, we are expected to grow 2.5%. what do we expect from a trip that obama is taking and how special do we think this one is vs. normal international presidential trouble? >> i think mr. especially number of ways. >> let's make sure everybody -- i

economy. it was a political error that cost him his own job. >> the new opera based on a book banned in russiaor more than half a century will have its premiere in the u.k. tomorrow night. the production features gruesome auction and dramatic creations from the director. our arts editor has the story. ♪ but this is the story of a dog. it is a sort of canine frankenstein. an ambitious scientist wants to try an experiment. ♪ could be transplanted human body parts and turn a dog into a man? the answer is yes, but not one that you would want to live with. there is an element of experiment about this production as well. it is a collaboration by two leading opera companies in europe who wondered if a largely unknown russian composer was put together with the theater maker who has never directed an opera before. here is their answer. ♪ the composer based his opera on a novel written in 1925 by another russian. the book was immediately banned in russia. it was not published there until 1987. the authorities considered it a damning satire of communism which of course it was. the dog represents the russ

month deadlock after an inconclusionive parliamentary election in march in which no political party merged with the economy. al malaki must deliver a list of cabinet members to parliament within 30 days. >>> japan's supreme court has rejected an appeal by ichiro osawa to suspend indictment procedures it against him in a political funding scandal. he's the former leader of the ruling democratic party of japan. osawa faces mandatory indictment after an independent judicial panel ruled for the second time he should be indicted on charges of violating the political funds control law. he filed for an injunction saying the panel's second judgment covers an allegation not included in the criminal accusation. on tuesday, the presiding justice of the supreme court's first bench said the inquest panel decision should be judged in a criminal trial and cannot be disputed in litigation. the court does turn down osawa's appeal handing down the court's first ever judgment of this type. osawa has separately followed litigation demanding the state nullify the inquest panel's decision. the trial is set to begin at the tokyo

they believe, by early next year, investors will again be focused on the economy and not politics. suzanne pratt, "nightly business report," new york. >> susie: and now to the business of politics. yes, we've heard a lot about "messages" and "strategy", but campaigns are also multi-billion dollar endeavors, and growing more expensive all the time. why does it cost so much to get elected, and where does the money go? darren gersh takes a closer look at the marketing of politics. >> reporter: research shows you need to see a campaign ad not once, not twice, not three times, but seven to ten times before a candidate's message really sinks in. evan tracey tracks campaign spending on advertising, and says that's a key reason elections are so expensive. >> generally, this is a business about getting repetition. you want people to see your ads as many times as they can, so that the themes start to stick with them. >> reporter: here's how the math looks to a candidate for congress. it costs about $41,800 to buy enough air time to reach every voter in a congressional district one time with

and now of course the fed is acting amid a very new political order that will also impact the economy. we look at all this with david wessel, "wall street journal" economics editor and author of "in fed we trust, ben bernanke's war on the great panic." and david i'll start with you, first help us understand exactly what the fed is doing today and how it's supposed to stimulate growth in the economy. >> what the fed is doing today is announcing a program of printing $600 billion worth of money, that's what a central bank does, and whying that money to buy long-term treasury bonds in the market. this will push up their price and push down the interest rate on those bonds, and they hope that will spread to other debt in the economy, mortgage rates and corporate borrowing, and that should make it easier for some people to borrow, make them more willing to borrow and make them spend a little more money. they also hope this will raise the price of stocks because they figure people will not want to buy bonds any more because the yields are so low, that will make people feel and actually be r

this country the most conservative developed world for the return to the new deal system of political economy and divided government is a way of reflecting the that. >> we wanted to give back at the federal reserve question. i should tell you i saw a poll that says more americans fought the federal reserve was a fine kentucky bourbon and that was the monetary. [laughter] >> starting off where henry was talking about, i think we are in a situation where, you know, pragmatism and prudence may council what would seem to be rather radical measures. one of looks at what the government in britain is doing now which is 25% budget cuts to the many departments and reduction of 490,000 public sector jobs. i think that california, illinois and new york are going to be faced with scenarios that may be the only provincial even though it doesn't sound very moderate and it's not something that a middle-of-the-road per cent would immediately think is the best thing to do, or certainly not a continuation of the status quo. as for the federal reserve the incoming republicans are aware of the concerns about hyp

many voters told us their anxiety and frustration with the economy and with politics as a whole. >> things have not turned around as quickly as we anticipated two years ago. >> i am a conservative and i do not care for the way this administration is governing the country. >> we need to change what is going on downtown. that is what i was here to do. >> the early signs are americans are voting not for continuity but once again for a change. the story of this election may turn out to be that certain crucial parts of the electorate became disaffected with president obama and his party and drifted away. >> the only question being asked across america today is how bad will the results before the democrats? the president released and internet video imploring people to get out and vote. >> you have got a chance to change your community and your country. all you have to do is vote. >> these elections are also verdict on his first two years in office. years of recession, unemployment, more political drama. if republicans take one or both houses of congress, barack obama will find it harder to gover

>>> this sunday, the pollticks of the econo >>> this sunday the politics of the economy at home and abroad. over trade and a rebuke of his approach to economic recovery. at home, the debate over the bush era tax cuts and the co-chairs of the president's debt commission propose taking the knife to social security, medicare and the defense budget. after the election, will the white house and republicans be capable of finding common ground? my guests this morning, the president's senior adviser, david axelrod, his first sunday interview since the democratic losses at the polls. then, the view from the republicans, just back from afghanistan, ranking member of the senate armed services committee, senator john mccain. plus, a special focus on jobs, the future of the economy, whether washington will take meaningful action on the debt. with us, former chairman of the federal reserve, alan greenspan, former speaker of the house, republican newt gingrich, author of the new book, "all the devils are here" about the financial crisis, journalist bethany mcclaine and former congressman, crisis, journal

gathering in south korea the foreign ministers of three emerging powers have been talking economy and politics and china russia india and china are part of a powerful bloc known as brick which is hoping to change the economic landscape of the planet so who's already leaving the dominant powers of today behind r.t.s. are still your search. from a pile of ruins right after the second world war to an economic powerhouse second only to the u.s. all of the spat of a single lifetime major pad economic miracle. you enjoy it but nowadays the land of the rising sun is becoming the land of rising discontent. the unemployment rate itself is. around five percent but. the quality of the jobs lay your salary of being cut. and even when companies hire new people they tend to the condition. without social security the social benefits economic growth is on a standstill and export the engine of its economy are hurt by a soaring again pushing them to take their business elsewhere in the short run you will be doing you should really be increasing the prevention we will be increasingly important parts for the buse

he goes to our districts and says republicans want the economy to fail so he fails politically. i mean, that kind of talk, all these straw men and counterfactual arguments does not make it's easy to cooperate and come together on the big issues of the day. >> rose: well, you'll grant me that's happened on both sides. >> absolutely. i will grant you. that we don't have halos over our head either on this stuff. i think the big question of the day, though, is what is the vision for the country? and i do believe that the president is a fairly ideological guy. and i think his ideology... >> rose: even though his friends and colleagues say he's essentially a pragmatic seine list? >> his rhetoric doesn't show that. his policies don't show that. and his policies are in place right now. so i don't see that. plus, they're reelecting the sgaipl same congressional leadership that they had in the last two years. so it's difficult to see a strong course correction. triangulation, my guess, will be the exception, not the rule. hopefully we can make a difference on a few things and we've got to