and that's the latest from the business team up next on our g after a very short break sophie shevardnadze speaks with laurence kotlikoff an economist professor at boston university about the roots and the repercussions of the global financial crisis. there are twelve cities in the united states in which half of the people live. with this is a problem that. there were. people were really focused on this problem you certainly should be able to. play. laurence kotlikoff economics professor at boston university it's a pleasure to have you with us today it's great to be with you and great to be in russia so you're the one who states that america is broke and is even in a worse state that greece and ireland how so what exactly do you mean by that well we have condiments look at all the bills the government has to pay and and in the us case we have enormous bills that have been kept off the books that are not official debts but they're very real for example paying me my social security benefits my old age pension that's a real obligation. it's not part of official government debt. but it's you k

after a short break our tease sophie shevardnadze speaks with a laurence kotlikoff and economist professor at boston university about the roots and the repercussions of the global financial crisis. you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything is. welcome to the big picture. good lover tour. was able to build a new most sophisticated. fortunately doesn't sound anything tim's mission to teach music creation why it should care about humans. this is why you should care only. there are twelve cities in the united states in which half of the people with hiv aids lives within a year. this is a problem that. substantially preventable it was like the big elephant in the room and nobody wanted to talk about they were really good public health campaigns that people were really focused on this problem you certainly should be able to. make it without any. treatments that it's good consents to. choose to get. to. choose the stories get him to to. choose . laurence kotl

believes the crisis is rooted in the way the banking system is operated in an interview with sophie shevardnadze you said that banks need to be more transparent in order to gain the people's trust. the critical banking system the model is one of very high leverage banks borrow a lot of money promised to repay and then there's opacity they take their money and they do something with it but they don't tell you what they're doing with it so it's a very unstable situation when you promise people things and then you don't know what you're doing with their money and then and that's what happened with lehman brothers and sterns and. merrill lynch and all these companies that one on one under one after the other everybody started worrying because they couldn't see the assets so what we need to do is. get rid of this faith based banking we need to have. no leverage and we have to have transparency. so good to have you with us here on r.t. today still ahead for you in. the pursuit of guilt. subject a polygraph test now and guilty until proven innocent a cia veteran points the finger at his former employer

and that's the latest from the business team up next on archie after a very short break sophie shevardnadze speaks with laurence kotlikoff an economist professor at boston university about the roots and the repercussions of the global financial crisis. there are twelve cities in the united states in which half of the people live. with this is a problem that. there were. people really focused on this problem you certainly should be able to. write. thank. you. laurence kotlikoff economics professor at boston university it's a pleasure to have you with us today it's great to be with you and great to be in russia so you're the one who states that america is broke and is even in a worse state that greece and ireland how so what exactly do you mean by that well we have congress look at all the bills the government has to pay in and in the u.s. case we have enormous bills that have been kept off the books that are not official debts but they're very real for example paying me my social social security benefits my old age pension that's a real obligation. it's not part of official government debt.

here because we have plenty more we've got the president of the world bank he tells off areas sophie shevardnadze so tell us all about it stay with us. all of those north korean scamps added again another nuclear test in north korea has made all the headlines trust me nuclear missiles are something worth being concerned over but haven't we heard this song and dance before all the way back in two thousand and two the north koreans calling for the b.b.c. rule that they have a secret weapons program and turned their young beyond nuclear reactor back on since then every once in a while a missile flies and people see the war's coming and silence then another test of some sort shock horror and then silence again with great just uses this is a bargaining tool to get what they want and rather how wacky the north korean state may seem they understand that launching one or two missiles against united states means they probably won't even hit their target and in return their entire country will be turned into ash instantly this situation really isn't cause for concern until something big changes like the us

after a short break sophie shevardnadze speaks with laurence kotlikoff an economist professor at boston university about the roots and the repercussions of the global financial crisis. you know sometimes you see a story and it seems so. you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought he. was a big picture. good luck. was able to build a most sophisticated. fortunately. anything mission to teach me the creation of why you should care about humans and. this is why you should care only. there are twelve cities in the united states in which half of the people with hiv aids lives within a year. this is a problem that. substantially preventable it was like the big elephant in the room and nobody wanted to talk about there were really good public health campaigns that people were really focused on this problem and you certainly should be able to. take it with. the use of the consensus to. choose the opinions that you. choose the stories that impact your life choose. to. laurence kotlikoff economics profes