labor secretary robert reich if that was enough i believe we need to reach deeper and farther and be bolder in terms of restructuring the economy creating a brand new economy in many sectors if we're talking about green technologies wind turbines and solar panels and the rest if we're talking about medical technologies the importance of changing our health care system and we're talking about education that is not just a matter of technology but a matter of restructuring our educational system all of that requires fundamental change and also fundamental reform and i believe the by demonstration needs to be as bold as is possible. former u.s. labor secretary robert reich speaking there now leaders in washington and brussels say they want to mend their bad relationship but an issue that defined the trump iraq could quickly get in the way of the transatlantic reunion that issue being china the new biden administration 10 up to help the push back against what they say are china's unfair trade practices but can europe risk eleni china here's our financial correspondent shells to delay me o

labor secretary robert reich if that was enough i believe we need to reach deeper and farther and be bolder in terms of restructuring the economy creating a brand new economy in many sectors if we're talking about green technologies wind turbines and solar panels and the rest if we're talking about medical technologies the importance of changing our health care system if we're talking about education that is not just a matter of technology but a matter of restructuring our educational system all of that requires fundamental change and also fundamental reform and i believe the by demonstration needs to be as bold as is possible former u.s. labor secretary robert reich is there for that full interview you can go online dot com slash business now it's not just washington celebrating the inauguration of joe biden but much of europe meters there hope to benefit from an administration likely to withdraw tariffs and probably eager to mend ties but could they be getting ahead of themselves here's our financial correspondent chelsea lately. from trading floors to corporate boardrooms hopes ar

robert reich. is glowing welcome to the show. in berlin good to have you with us really 1000000 americans filed new applications for unemployment benefits last week as down slightly from the week before but it's still well above the single worst week of the great recession the number of new claims wells to 1400000 when adjusted to include government funded programs for the self-employed good workers and others who don't qualify for the regular state unemployment programs the services sector has been especially hard hit during the pandemic affecting lower wage earners in particular who are lot more likely to be women and minorities. now for more on this we turn to our financial correspondent in new york ian's korda. about 900000 new claims is what we're hearing put this into perspective for us you know the numbers came in a bit better than expected but clearly there are strong recoveries that we didn't see in the labor market over the summer months has definitely stalled and there are still about 16000000 americans so who depend o

labor secretary robert reich if that was in the us i believe we need to reach deeper and farther and be bolder in terms of restructuring the economy creating a brand new economy in many sectors if we're talking about green technologies wind turbines and solar panels and the rest if we're talking about medical technologies the importance of changing our health care system if we're talking about education that is not just a matter of technology but a matter of restructuring our educational system all of that requires fundamental change and also fundamental reform and i believe the by demonstration needs to be as bold as is possible. former u.s. labor secretary robert reich speaking there time now for a look at some of the other business stories making news the value of bitcoin has plunged fueled by fears of stricter regulation under president biden but the currency has been trading at just over $25000.00 losing more than 10 percent in a single day it's had almost a quarter of its value since record highs earlier this month british prime minister boris johnson is welcoming news that nis

labor secretary robert reich. welcome to the show stephen beardsley in berlin. it's good to have you with us really 1000000 americans filed new applications for unemployment benefits last week that's down slightly from the week before but it's still well above the single worst week of the great recession the number of new claims swells to 1400000 with adjusted to include government funded programs for the self-employed good workers and others who don't qualify for the regular state unemployment programs the services sector has been especially hard hit during the pendency affecting lower wage earners in particular who are look more likely to be women and minorities. now for more on this we turn to our financial correspondent in new york ian's korda. about 900000 new claims is what we're hearing put this into perspective for us if the numbers came in a bit better than expected but clearly there are strong recoveries that we didn't see in the labor market over the summer months has definitely stalled and there are still about 16000000 americans who depend on benefi

labor secretary robert reich that was enough. i believe we need to reach deeper and farther and be bolder in terms of restructuring the economy creating a brand new economy in many sectors if we're talking about green technologies wind turbines and solar panels and the rest if we're talking about medical technologies the importance of changing our health care system and we're talking about education that is not just a matter of technology but about a restructuring our educational system all of that requires fundamental change and also fundamental reform and i believe the by demonstration needs to be as bold as is possible for us labor secretary robert reich there for the full interview you can go online dot com slash business now is not just washington celebrating the inauguration of joe biden but much of europe leaders there hope to benefit from an administration likely to withdraw tariffs and probably even cement ties but could they be getting ahead of themselves here's our financial correspondent chelsea elaine. from trading f

robert reich, former cabinet secretary continually refers to fascists without defining them. the 99% majority or more of people who vote republican have no sympathy with anything akin to authoritarianism. what they are tired of his being inferred that they are beneath contempt. that is something that donald and highlyartfully brought to the surface. that is the focal point of future conservative, center-right, whatever you want to name it statesman show to give a positive assessment to the deep longing of people on ed asight to be respect well as providing a framework which will allow people across the spectrum to also feel respected so we can restore the idea of disagreement without disparagement. opposition,loyal with whom you disagree but share a bond of citizenship is central to a liberal democracy. that is a concept that is being discarded. once we discard the concept of loyal opposition, we cannot have a free republic. host: this is david out of georgia. caller: good morning. good morning mr. olson. to geton, i would like philosophical. what is going on in america is ea

former president on the high lee was previously convicted in 2017 but only served a year in jail or robert reich joins us live now from so rob so what more do we know about this conviction and sentencing that. this is a real shock decision there had been appeals by various business groups here for leniency from the court samsung itself has often asked the courts please don't jail our bass samsung is by far the biggest single conglomerate in the south korean economy and is part of the founding family j. wiley is its de facto head but it wasn't to be he has been given a 2 and a half custodial year custodial sentence now all these charges relate to bribery offenses he was found guilty of in 2017 he only served one year of a 5 year sentence and since then there has been this attempt by the prosecution to reimpose a tougher custodial sentence as part of the attempt by samsung to keep their boss out of jail they agreed to set up a compliance committee to look at the way that they deal with their business practices to ensure this doesn't happen again there is a lot of big issue here about the so-called

labor secretary robert reich he told me that $1.00 trillion dollars even if it passes would be good for about 6 months and then more would be needed so if you can't even pass 1 point one trillion what are the odds you going to get more what is the thinking from the white house and from wall street where you are on more aid . well i mean wall street always laughs more money so that's not a big issue and nobody really seems to think about the huge debt load that we're seeing on the other side of the aisle because we shouldn't forget already we have a record a government debt we have forever record corporate debt that we have a record and household that but nobody seems to vary about this at this point but if you look at what to joe biden is proposing he's talking about a rescue plan and then a recovery plan so right now we're still in the face of a rescue and that's what this $1.00 trillion solar at a dollars is supposed to be spend on and then if that is done then we're talking about recovery and probably another couple of $100000000000.00 so at $4.00 at least i'm to get the economy goin

labor secretary robert reich he told me that $1.00 trillion dollars even if it passes would be good for about 6 months and then more would be needed so if you can't even pass 1 point one trillion what are the odds you going to get more what is the thinking from the white house and from wall street where you are on more aid . well i mean wall street always laughs more money so that's not a big issue and nobody really seems to think about the huge debt load that we're seeing on the other side of the aisle because we shouldn't forget already we have a record a government debt we have forever record corporate debt that we have a record and household debt but nobody seems to vary about this at this point but if you look at i want to joe biden is proposing he's talking about a rescue plan and then a recovery plan so right now we're still in the face of a rescue and that's what this $1.00 trillion solar at a dollars is supposed to be spent on and then if that is done then we're talking about recovery and probably another couple of $100000000000.00 so at $4.00 at least i'm to get the economy go

robert reich, former cabinet secretary continually refers to fascists without defining them. 99% majority or more of people who vote republican have no sympathy with anything akin to authoritarianism. what they are tired of his being inferred that they are beneath contempt. that is something that donald and highlyartfully brought to the surface. that is the focal point of future conservative, center-right, whatever you want to name it statesman show to give a positive assessment to the deep longing of people on ed asight to be respect well as providing a framework which will allow people across the spectrum to also feel respected so we can restore the idea of disagreement without disparagement. opposition,loyal with whom you disagree but share a bond of citizenship is central to a liberal democracy. that is a concept that is being discarded. once we discard the concept of loyal opposition, we cannot have a free republic. host: this is david out of georgia. caller: good morning. good morning mr. olson. to geton, i would like philosophical. what is going on in america is easily