Transcripts For ALJAZ Growing Pains 20240713

Community wake up to the challenges presented by chinas manipulation of the longstanding International Rules based order that has benefited all of us for many decades john holl as our correspondent at that conference in munich. You know they say that the Munich Security Conference doesnt provide solutions but it provides platforms for competing narratives to play out weve certainly seen that here in the last hour under the same roof youve got the United States effectively firing the starting gun and missile to a new era of foreign and defense policy naming china as the number one threat to the world and then swiftly followed by the Chinese Foreign minister waving the flag seemingly for multilateralism a concept that seems to be under increasing strain and threat in the west we have the headlines europe has recorded its 1st death from corona virus after an elderly Chinese Tourists died in france the 4th person to die outside of Mainland China and south break has now killed more than 1500. 00 people but the World Health Organization says china is running 82. 00 trials for possible treatment the director of the w h os Emergencies Program is calling on nations around the world to work with beijing to fight the virus but 82 different trials underway in china right now everything from Traditional Medicine all the way through to and drugs. And thats not only in collaboration with trying to explain. Investigators. Thats an incredible advances in just basic knowledge of the next 2 to 3 weeks these drugs will have results in 2 to 3 weeks however another 67 people on board a quarantined cruise ship in japan have now been infected with corona virus that takes the total number of cases onboard the diamond princess to nearly 300. 00 that is the largest cluster of cases outside of china earlier the United States embassy in japan said about 400 american passengers will be flown home on sunday this ship has been isolated since the 3rd of february but 11 vulnerable passengers were allowed to continue their quarantine on land. South sudans president has agreed to return the country to 10 states and 3 administrative areas that move by salva kiir is an attempt to resolve one of the most contentious issues of the countrys peace deal here an opposition rival rick nash our have until ever the 22nd to create a unified army and to agree on the number of states the parties have twice failed to form a unity government the minister announced a deal said it was for the sake of peace in the country and should take effect immediately a military offensive on the last rebel held region in northwestern syria is causing the largest single displacement of people since the conflict began 9 years ago 800000 people have now fled the fighting since december Government Forces are trying to retake the last opposition held areas protesters in mexico of march to the president ial palace to condemn violence against women marchers were outraged that a Newspaper Publishing photos of the body of a murder victim 25 year old. Killed earlier this month the Mexican Government says 10 women were killed every day last year in gender based attacks and u. S. Federal prosecutors have dropped a criminal investigation into the former Deputy Director of the f. B. I. Over his role in leaking to the media and was accused of lying repeatedly about allowing a subordinate to brief a journalist on an investigation into the Clinton Foundation ok has always denied any wrongdoing those are your headlines the documentary growing pains is next. Youre. They view growth as something positive. Its great watching our kids grow up or seeing a tree grow. It we always aware that all growth must come to an end. Theres a limit nature knows no such thing as infinite growth this rule seems to apply to every kind of growth but one Economic Growth is somehow supposed to continue indefinitely. We believe them and now there are no limits to growth and Human Progress when men and women are free to follow their dreams and we were right. If that growth fails to materialize we panic but why. Does one person recognize the 150 years ago growth is the fundamental principle of our Economic System capitalism only works when the economy grows but calm mocks recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. If we reach that point is the system about to collapse. At infinite growth actually be possible. The governments dont want to even question the g. Word they dont even want to put a discussion around growth if youre looking at this from the outside it an alien arriving from outer space and youre looking at the society. You would really wonder what was going all what are they doing what what is this gross that has to appear in every political sense on some is the basis of every economics textbook what is it all about is it or is it a religion that they have is the god that theyre chasing is the virus thats taken over them. What is this visceral fear that emerges as soon as growth starts to go away. And he says off to one of vox storm kindness garnished given the well to do from is it the mention the of it was not available didnt talk back storm in the. Fall to guy fox whom style gets filtered out sucks them into finding and seemingly the audience votes us maximun know what is being there which is the politics of exhausted but it went up and and because if what. Mediums the politic can come. On by the perfect thing. Is along is mention of the planet and keep to. The box to a huge how does. This work after. Where does this unshakable belief in Economic Growth come from hasnt always been there. Is a drearily part of human nature. It was raw data was under imaginative use of mass production methods but there was a lot they was able to perform it was time marable to build more planes that all the United Nations put together to turn our ships at the rate of 200. 00 a month jobs which carried over the years beyond might of the United States to decide the outcome of a war. The Success Story of Economic Growth began during world war 2 mass production of tanks and aircraft let the American Economy out of crisis the output of military equipment was now calculated by a new statistical measure of Gross Domestic Product or g. D. P. If production i. E. G. D. P. Grew and so depressed berty americans believed so firmly in this new formula that they compel their allies to bring they cannot make policies in line with it from then on it wasnt peoples incomes that counted it was only growth and it turned out to be such a useful measure actually for the war effort and for understanding the war effort that awful would still became the single most important policy number. Across the world it kind of symbolizes progress to us soldiers says while things are getting bigger so they must be Getting Better that was the g. D. P. In the 3 decades after the war the western economies grew up to 8 percent and in the u. S. They called it the golden age of capitalism in france they were the 30 glorious years in germany it was the economic miracle an entire generation enjoyed material prosperity and full employment and this became engraved in the collective consciousness even though these high growth rates were only made possible by massive water destruction to believe in growth was now unstoppable. G. D. P. Became the most important benchmark in history. And the economy in the grace of economy was doing a good job force when when we were young if you like when as an economy as a society we were young and one of the really important things to say is that there are some societies where that is Still Necessary where you still need that growth where you still need food clothing and shelter whether very very poor undernourished People Living on less than the price of a skinny latte from the cafe downstairs and thats why thats a situation where growth makes some sense. But the idea that as human beings all we want ever is more and more stuff doesnt really stack up so after a certain point you have to ask yourself well how much is enough how much how much more do i need to great economy to satisfy human appetites. The 1970s so our growth rate sink for the 1st time due to the oil crisis and other factors the boom was over the market saturated western economies stagnated millions suddenly found themselves unemployed it was uncharted territory. For the 1st time the limits of growth became visible economically socially and economically. We do have some understanding about groet. In 1982 a group of scholars commissioned by the club of rome presented a report in washington and titled the limits to growth using a computer simulation such as that mit had calculated for the 1st time what continues Economic Growth would do to the planet theyre finding set off alarm bells around the world when resource consumption is doubling every 20 years for the 1st time people were confronted with the fact they can only grow it could also have negative consequences and that the planets natural limits would soon be reached the Success Story of growth was in crisis weve reached levels of prosperity which carry the seeds of disruption and necessitate a complete relook at the whole world social political and other situation. The cup of rome report sold 30000000 copies and became a global sensation. And yet soon this calls themselves came under attack their calculations ready tried as irresponsible fear mongering because its impossible to admit the end except. The Success Story of growth must continue. Unfortunately many of the socalled us predictions turned out to be right and in many cases reality even surpassed the bleak predictions. As the cover for only reports was causing an International Uproar the brazilian rain 1st in the amazon basin was doing nearly untouched the huge brazilian state of much of grosso largely populated by Indigenous People consisted of forest and 70 today not much of that is left since the mid eightys progress aided by International Investors has been eating away at the rain forest 35 football fields of forest disappear every minute its been the same story over and over again lumberjacks moving 1st. Thank cattle breed s. And finally the sort of the parents. Call and they love. This quote of one point containing as is new on the nail your. Aesthetician on what ought is known. The pledge government and i. Believe school fair but as the leader of seen their god but on knowing that god is following us and you eat their own theyre at the side as i am the ia wars are the dance of the fuzzy and the keep thing there. Were stamped there has there. Been as good as society has boogy of us both them flightplan than the meal you meant them to mean by you. Must or numb was a loss when you see a pick you up doll most of all who are going to wash. Mark will. Get it is their viii god only could possibly. Know the sestak luzhin has been infused with the ceremony he cut off his boozing mice. The tropical climate and then the 3. 00 to 4. 00 hard to spray year and with that massive profits saw and corn for export an animal feed. I mean 163. 00 is the gateway to the amazon basin it brought lumberjacks money and destruction into the forest. Today countless trucks lined the agribusiness highway transporting their valuable cargo to the international ports. They passed and the sea of soybean fields enormous silos and slaughterhouses through one of the largest regions in the world growth rates of up to 20 percent business. And the savage beasts this region it was just lived by indians its just amazing forest. 3040 years just off colonization and its the most important region nagra business off the country. Its just the right place to make new investments to make money. You carol a good part exported to russia china and in other countries. Do you see any limits know the limits of the disk i have and the limits. In response to the crisis of the seventys Economic Policy underwent a change of course new growth had to be followed no matter what the cost even if that meant only seeing the prime and falseness of chinas capitalist. These had been contained after world war 2 because there were hundreds sponsible of the Great Depression and the war itself. Monetarism was a new magic word. Among them was the idea that if you put more money into the economy liquidity it was told that additional money in the economy would help really best that would help give a small production that would allow us to consume more goods and we would get growth back again so this little hiatus if you like in the seventys primarily caused by the oil crisis led to a a transformation in the economics of society and in particular how we think about right now we think about stimulating growth i. Governments deregulated Financial Markets Banks Insurance Companies and Investment Funds going to influence and were now allowed to gamble with currencies stocks even with peoples Retirement Funds capital was that lose and the Financial Sector was flooded with my. Divorce a pact with the devil and the beginning of the slow process of south disempowerment in exchange for growth governments relinquish the power to Financial Markets but who do we mean by Financial Markets and capital and what does it all have to do with us. The Allianz Group is europes biggest Insurance Company and one of the biggest players in the global Financial Markets. Its been fun for 600000000 oil the from from 400000000 leaving so say shown at 100000000 for the softness you know in the lead so say showing leading via the foresaw good ones oquinn one fist to she went on my country to so for stay in. The us some are spirit of figure one inch own base your pick your own inbox in uk 2 is wolf in a party for mukesh cotton and the same box to pot its a peon so buy spirit box in investments invest it to one in it will be here and then in foster to investments in autobahn and when the tulio could take. The sun was one of the positive closed in in china therefore also a show although some kind of one of the growth. In the developed markets in europe and us. They also no new one strives to be seen which we could never knock to a finance if a few puts in but it does if you puts end to high fashion mission via in so going to invest even the high sheen visteon as a sin it will be when its at the law. As a given in the token fini gun opining given that mia didnt try and then he can and then his facts to mean decent and none mukesh to the left eye doc and i defend it and the tough to his sister to mislead no trick is to stop it going to push it into over the top that i knew was an invoice spent 9 as ish miche to me id have a torn effects from the forced. Thank you sandy 6 a gothic anointed aiyana wilmas he felt he could touch up the socks to a cold case for cost by this thank god to 6 months i thought to look for cost beyond. The number of millions of insured individuals its sent on its way to multiply when andre has group as team has a rough idea to which countries and sectors the billions that flow they hire an asset manager he determines what stocks or bonds to invest and. Most of our clients are institutions what they want is they want their their money invested in the Capital Markets. Our customers expect their capital to be returned they want their money back and they want to return on that game and the world there is. Another agenda. Well why im commander just 1. 2 trillion euros obvious its and in germany were managing 490000000000 euros of a sense of. The Financial Markets they have a social role in distributing peoples savings towards investment and that investment is usually a form of debt so when you you take out a loan for example to buy a house that line could end up in a bun and we could end up buying that phone so growth is important so that individuals and companies who borrow money in the Capital Markets can actually pay those lines back. Off of this free trade when he said 20 just. Imagine a world with 0 growth thats a world in in which pretty much everything gets frozen if you havent got a job in this new world with no growth bad luck. Youre going to have to wait for somebody to retire before maybe you get their job. A Society Without growth probably wont work at all. Not for long. It will be cherry and to collapse. Without growth societies will descend into chaos according to the financial and political elite. But is that really the case isnt it rather the blind faith in growth that leads us to chaos. In the eightys the world of finance operating from the city of london and wall street increased its influence and governments and societies and became the driving force of capitalism today Financial Markets not governments determine the wellbeing of anti countries. How did it come to this how could Financial Markets gain such influence over our lives. One person who knows the financial world better than almost anyone asked you at college for nearly 30 years you were the Successful Fund manager on wall street and in the city of long. Known of times people i was a scientist and been offered 20000 pounds to go and stone wall street in 1008. And i was one of the worst i was the beginning. And we went into the new era of reagan and liberal trade the socalled big bang in the city was all about financial deregulation lets go let the market decide and lets hire people and lets see what happens yes i suppose this really kind of controlled atmosphere which would happen for a news that we walked into where money now talks now money wins and you need people small people to trade the markets and make finance the powerhouse behind capitalism which is supposed to be. The plan seemed to work the stock markets built roads no longer needed to be financed by increasing wages and tax revenue now it was all about credits governments and individuals where the take of loans from banks and investors. So that they could be good consumers and thus generate. Credit cards come along overdraft so to use lending for houses becomes widely available and its at that point that explodes. That now its not just the very wealthy have access to all these things consumerism is now people lower down the income scales as well and if you look at money supply in that and supply credits in the early eightys it just explodes. Has been access to consumerism and promotion of current consumerism plus debt which is created the growth we created and where we are today. The cold logic of the markets took over producing winners and losers. One of the people who knew best how to profit from this new logic was donald trump. I really think i have an instinct but i dont think its the instinct shock i think its the instinct of of maybe getting what i want or knowing how to get what i want. Only if you recognize the profit opportunities in this new era as well as. He made large scale purchases of derelict new york apartment blocks and promised to transform them into next 3 hotels and apartments to see financing from banks high on the market boom and through the largest tax break in new york city history trump himself had practically nothing will happen is an incredible place where you build a huge building in a sold out in a matter of days i mean you know you build a building with literally 3 or 400. 00 units im building a building is one of the hottest buildings anyones of the scene is just selling like hotcakes and then hatton itself is becoming a place of the rich period. The genie was out of the bottle the brave new world of finance or capitalism could no longer be constrained and great efforts were made to set it as a controllable and secure system. The whole industry is based around a kind of illusion and the illusion of certainty there is a vested interest if you like inside of the system is to project knowledge and extra knowledge but they really dont have any more knowledge than. Any. Progress. Or a serious mistake. Fishel intelligence is slowly invading every aspect of our lives. But very few of us really understand its capabilities for better or worse. In a new documentary ill just 0 explores the impact of they are accessing vast amounts of our personal data its data. Coming soon the controversial leader of Islamic Jihad has cut he used one of the most wanted turns to history of this recount turns on his alleged extrajudicial killing by Israel Television shows and assad says being caught in the bus to see the outcome is only death if someone tried to do but just got to immediately see many times and was shut down the borders dont kill him in damascus all aljazeera a unique kid endangered biodiversity lives in the heart of one of ecuadors tropical jungles there was a lot of misinformation about the animals that we have here and now there probably are just becoming by feathers of conservation in their communities algis their journeys deep into the rain forest to follow a scientist and have teams afterwards to save the flora and fauna so precious in the region women make science ecuadors Hidden Treasure on aljazeera. Im Kemal Santa Maria with another check of the headlines on aljazeera the u. S. Defense secretary is calling china the biggest threat to the global order he was speaking at the Munich Security Conference marcus for accuse the Chinese Government of seeking advantage across the world by any means and at any cost the Chinese Foreign minister is called those accusations lies has more from the conference in munich you know they say that the Munich Security Conference doesnt provide solutions but it provides platforms for competing narratives to play out weve certainly seen that here in the last hour under the same roof youve got the United States effectively firing the starting gun a missile to a new era of foreign and defense policy naming china as the number one threat to the world and then swiftly followed by the Chinese Foreign minister waving the flag seemingly for multilateralism a concept that seems to be under increasing strain and threat in the west europe has recorded its 1st death from corona virus after an elderly chinese tourist died in france that is now the 4th person to die outside of Mainland China the outbreaks killed more than 1500 people but the World Health Organization says china is running 82 trials for possible treatment and is calling on nations around the world to work with beijing to fight the virus i mean one of the 67 people aboard a quarantine cruise ship in japan have been infected with corona virus that takes the total number of cases on board the diamond princess to nearly 300. 00 it is now the largest cluster of cases outside of china earlier the u. S. Embassy in japan said about 400 american passengers will be flown home on sunday. South sudans president agreed to return the country to 10 states and 3 administrative areas the move by salva kiir is an attempt to resolve one of the most contentious issues of the countrys peace deal here an opposition rival rick till february 22nd to create a unified army and to agree on the number of states and a military offensive in the last rebel held region in northwestern syria is causing the largest single displacement of people since the conflict began 9 years ago 800000 people have fled the fighting since the start of december Government Forces are trying to retake that last opposition held area. In about 25 minutes here on al jazeera right now part 2 of growing pains. They view growth as something positive. Its great watching our kids grow up or seeing a tree grow. It we always aware that all growth must come to an end. Theres a limit nature knows no such thing as infinite growth this ruth seems to apply to every kind of growth but one Economic Growth is somehow supposed to continue indefinitely. As one person recognized the 150 years ago growth is the fundamental principle of our Economic System capitalism only works when the economy grows but call mocks recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. If we reach that point is the system about to collapse. At infinite growth actually be possible. The Bloomberg Company from new york place a central role in the Financial System since the 980. 00 s. Rumor has provided Stock Traders and bankers with lightning fast Price Fluctuations and finance data from around the globe making it one of the worlds most influential media companies. Around the clock Bloomberg News agency in stock market channel broadcast the glad tidings of the free market. Our role in Financial Markets is as a provider of transparency would provide a huge amount of data about the numbers on markets on economies of Companies Providing a chronicle of capitalism telling the story of money vitally important to bloomberg and central to what member does. Is one of the most important numbers we look for. On the on the state to the economy steady solid growth in Financial Markets do you usually reflected in solid growth. In economics in demand in jobs markets reason is that people feel wealthier if you look at the textbooks there should be no limits to growth but if you look in the newspapers at the moment i get the feeling there is a. Growth in the central question now is whether. Theres something structural is going on biggest. Systems based upon people remaining to have confidence in the information given in the promotion. Of the ideology and the narrative which finance is based around which is increasingly become this kind of game show with and. For a period time everybody wins. And then as you know a number of economists marx keynes are pointed out is eventually all these means go on and the question. To those heavy lobbying by the Financial Sector on the government to ensure actually that this Financial Sector growth could continue and governments believe that it was in the interest of the economy because everyone told the monitors and told them that if you had all this liquidity in the system then you must be growing your real economy but actually what was happening within that system rather was that you freed up all this money which was then used to bet on the increases in the value of Certain Companies and certain shares and of money itself in the system and the people who were doing that betting were not only profiting from it but they were also the only people who were regulating the system so it created a huge unstable and incredibly. Equal system in which the rich got very much richer really very fast. For decades society has been transformed into an enormous market to which theres allegedly no alternative. The huge sums few in the Financial Markets scream for hire jones and have penetrated every corner of the globe. New ways are constantly thought to expand profits already in the tree in. The road seems to be getting to small for the capital. When i was a kid i couldnt afford to fly in an airplane i actually joined the air transport industry before i ever flew in america. Today people take flying for granted it shaped the way we buy goods it shaped places people go to shape the meetings between people and different cultures. Over the next 20 years we expect the world to meet 32000 new civil aircraft. At the moment around 1000000000 of the people who live on our planet fly by air regularly. The remaining 6000000000 dont yet fly by air and its these people who will be tomorrows passengers and tomorrows customers in addition for those of us in developed countries who take flying for granted. Have delivered over the last 6 years more than 100. 00 brand new airplanes towards airlines charge. On airplanes every string days the changes. That take them. I thought theres a retailer or something to turn the back but now we are up and i do well to. Walk i thought on stuff thats about to get a lot of right but currently it will have a slightly montreux 100 alcohols. In china they tend to and every year in the range of 10 or 15 in you them possible to be viewed imagine if everybody cannot fault the travel expenses even the peasant was low cost the business water a worker is willing to travel by the marketing is fantastic you cant imagine and i i already seems that this is a sign of that thats why when i look at it every time i must climb out of the perspective of the market i cannot imagine a dime ation of this market where ny hands a reference of 1400000000 which is even more important than the whole of europe and more i actually think means more pollution what do you do about that. We made every single effort to try to reduce as emissions but if we look at it as a social benefits and as economic benefits as education industry or bring to the humanity. And then people may think differently we. Are trying to make as well as smaller and smaller. To make it a real village. For decades growth was kept on that supports with that only if you had the courage to say that the party couldnt go on forever but no one listened to them. In september 2008 the time had come the house of cards collapsed its a black monday for the American Capital market despite dramatic rescue efforts over the weekend all efforts to keep the worlds 4th Largest Investment Bank alive have failed lehmann brothers is shutting its doors for good its also i think a necessary part of the clean up process i mean we knew it was weak we expected to go its not going in the way that people expected it to but its gong. The long run im confident that our Capital Markets are flexible and resilient can deal with these adjustments. So that. There was a deep shock in the system it was a sense of my goodness we cant let this happen again governments have to have a better handle on this system and for a while there were attempts to do that it lost it probably a matter of a few months in fact by the end of 2009 and into 2010. The very same companies a been responsible for some of that disaster was still engaging in those same kinds of risky trading procedures that for a while had been stopped in the wake of the crisis and we learned a lesson. But then we forgot again. The financial crisis was a huge opportunity for governments to free the world from its dependency on Financial Markets and to change the system but they wasted it instead they did all they could to revive the old system spending trillions of dollars to save the banks. Then something incredible happens the banking crisis miraculously became a sovereign debt crisis dr addends it can public that governments and the citizens press objected to a sturdy policy is under which millions of people suffer to this day. Thanks and stock markets however keen to demonstrate a sense of normalcy as soon as possible in reality nothing is as it seems kept the business of after crisis that no longer functions like it once did. Even though its not as busy as it used to be this is still the center of capitalism you can look at all the tourists who are outside the building taking pictures they all still believe this is the center of capitalism its a symbol of something it means something to them. And said im sort of like the weatherman for the stock market i come in every day and try to figure out whats going on in the stock market i talk to trading desks i talk to analysts i talk to people who know a lot about the stock market and i go on the air and on the internet and explain whats going on. Remember the s. And p. 500 is down one and a half percent this month you have very clear market leaders and the reason weve had it is because of better prospects for earnings in the 4th quarter remember what the market leaders have been energy tech events lagging today energy tax and banks thats interesting their next. Prince fielder. It bothers me just to try to. Human beings want stories they dont want an endless list of numbers nobody is impressed with a list of numbers they want to know whats going on tell us in plain english what the markets for doing and thats the real skill set and often thats not easy because things are very complicated. People have always claimed that capitalism can be evil and capitalism doesnt help people i completely disagree what i see in the last 150 years is millions of people have been lifted out of poverty i personally am a true believer and still believe that the system works well and im committed to that system. At the underfund and the new york about the van that fell from the 1000 mention of the market. Committee of dimensions in time to get attention because youre going to just fall into a dozen shots which tells me its in the wind as the hell is defense hot in the house in the month of the New York Stock Exchange this is a list the average i was in his 1st published it. Is in this its the machine just about wins. 3 or jackson cause of death into naming me a given of adults often not been given and is going to name well. Lets come on the awful scene and be among the hostages have been known to the i love village often bells of if you have been in with our side long outside but it was in one town well kind of talks to me getting tied to given a sinking truck since trying to balance and cause them to mock police to buy towels or carpet to fund. Up. I think what weve seen over the last few years is cracks in the in the shiny surface of capitalism. And a 1st thats what they look like you know they just look as though something not quite right the way the light reflects off it and thus you look more and more closely. You see this you see that these cracks gay rights of the heart of the model they go right to the heart of the basic ideas of capitalism. Capitalism is to work. The system to there were 2 promises. For running growth jobs and prosperity for all. Of the on both sides because your new Smart Factory in the see this is just. A little too long. In the schmidt on the cabinets in congress and she said often you. Know tunisia is lose its you just. Instead you see the harmony like a little slow. Motion down on the lawn but a. Unix box been diminished. And all but thats in the city on the bend on the on the day on the selfie in front i dont understand what this is all fine up to because it sparks what was on the tube is thats been the truth is its come mostly for she said. Ever since the Industrial Revolution machines have been replacing your labor thereby causing Great Society the pavements. But until recently they had only replaced the physical labor. Of humans. Now machines are capable of doing what makes us human soon theyre able to think its a completely new chapter in Human History which will have massive consequences on how we live and work. Can Technology Thanks watson can. I be im wanting is a technology unlike any thats come before because rather than force humans to think like a computer watson interacts with humans on human terms. Its just interested into the mind with him because of cognitive off the instant this does a stammer and off to compliment him. On dom its even a start in kids and then get an insight and system in how to bite something lengths unemployments in full view not find the discus something contexts into teevan head for them to sustain begin to laugh when time goes the toilet doesnt us also do not have hospital was just him all talk and on to it. If youre interested in checking it that youre a spectator Standing Ovations it makes this whole notion take great great gesture only as well as picture the rights of a messenger and ratio gets yes you can be able to do it the right people. Is to get it to me like it or itself roll interact with schools and we get a story. Thank. You visit me stop by and zoom in on our farm said bob so shuffle and getting tired here even i can finish my work. Then never get off the myans i next day i t v ted sometimes thats building on and just how true in extremis affair next to him is prevailing. In the future agribusiness and robots will be able to carry out nearly every would seem to previously performed by. Millions of jobs through. The. New technologies like Economic Growth but like much in the way of just and that could endanger capitalism itself. Be able to purchase all the nice things mass produced every day and theyre not enough people who can pay for them with their wages. In Financial Markets algorithms have long since been running the show computers interact with other computers and fractions of seconds without any human input. In this room thats what we do here we have an on off switch right wheres theres really no human in our bench and i really dont believe in leaving the room. And letting you know something trade on attempted its about being there with that with the creation you know youve worked on. You know even if i dont i dont know you dont control it but you watch it is it doing everything they designed it to do. There are many mathematical models that come out of fields such as horse betting that are used and our business as this kind of fundamental pieces of Algorithmic Trading we somehow project and then our couple this society this idea. That that this is a safe environment for people to build up their rear tire mentality is actually a hyper competitive environment and. Depending on the product theres theres you know sometimes i feel safer going into a casino than trading certain products in our space i mean. It is a very different world than the way its advertised to the general public. Financial markets out of control and no longer have any connections to reality why the lego rhythms and robots produce growth they only provide work and prosperity for a few and its this growth thats destroying our future on the planet. The signs that something is going wrong with the a system thats become impossible to overlook so why do we consistently ignore them. This is for t. V. The network with all the stuff together for your. Time trusting a lot better now than i was before i had to tell it you know because they even hire us style you know to me. You guys look like so you obviously dont know what im talking about but you know this is really nice quote. I call it the most powerful name in Financial Television wall street week his back yes the news guy bridge actually purchased the rights to wall street leaks i view myself as a capital artist ok this company that ive created is my canvas. I know you guys in the media dont like capitalism but you know someones had to pay for the camera and the microphone so i mean at the end of the day the capital system is the only system that weve been able to design that works. Lets talk about growth ok there is a perception right now in these elitist academic salons ok now were not going to grow anymore well thats just flat out wrong if you study 5500 years of Human History we know that human beings are designed to have great intellectual curiosity and to innovate there are so many things that were going to do over the next 50 years its going to shock everybody in terms or people believe were going to pull asteroids down from the Asteroid Belt or a load of platinum that will be where the 1st trillionaire comes from were going to unlock the ability to stop aging were destroyed cancerous cells in our bodies all of this innovation is ahead of us and theres a tremendous opportunity for growth. Thats a sense of desperation so this chastity we dont want to base a realistic in the world we would much rather have. You know a total fantasy for our guiding star we would like to have this vision that we dont have to think about detailing grace we have to think about making grows Even Stronger we have to go harder for it we have to make America Great again we have we can all be billionaires we can all we have property empires and of course its a little asian i think it goes back to exactly that same simple basic fact we live on a finite planet. That there isnt the space for the dream of this reinvigorated the right fence which was. Just. We live in extraordinary times our world is becoming increasingly complex and many are disappointed to find that they are worse off than they used to be. But instead of doubting the Economic System they turn to those who have profited from it the most those who continually promise new growth. For these empty promises more and more people are apparently willing to sacrifice democracy peace and then vironment. Capitalism has reached a new level of escalation but is no longer suited to the world we live in. Its and its closer than we think. Hello mid to late summer produces a rash of thunderstorms all over south america theres some concentrations in northern argentina is one place to look but the longest running up into paraguayan mainly youd be enjoying warm sunshine even up in the northern and this is a rush of showers but any one place could be briefly a fresh start it doesnt look too dangerous the moment this is the heaviest rain falling into the southeast of brazil once again and yet sipe out a might be this is course but mainly talking about the pompous i suspect most of the continent is wrong or more in the way of showers developing in the Eastern Caribbean you can see that partly on the satellite picture its shows of in the forecast to mostly in the wood isles running up towards the very public and even haiti but if you to the west of that with the exception of southern mexico is relatively dry even here the showers are dispersing as we run into what sunday in the us the real deep cold moved east towards Eastern Canada hit pretty was cold yesterday but thats moving out of the way now so we talk about more of a normal winter only modest 6 in winnipeg and plus one in minneapolis with some snow running through the Northeast Corner more snow current the pacific seaboard particularly if you notice in washington state. Is your vehicle dead and did you get the peace prize too soon. Is this going to hurt or help Donald Trumps reelection chances it is very free money for you could shoot somebody on 5th avenue and not have any consequence this is not a muslim issue this is a human colony issue join me many often as i put it up from questions to my special guest and challenge them to some straight talking political debate here on aljazeera. This is al jazeera. Hello from doha everyone im Kemal Santamaria and this is the news hour from aljazeera. I want to focus on the pentagons top concern the peoples republic of china the United States called china the biggest threat to the global order as it steps up its efforts to persuade European Countries to bob the tech giant while way. Also Coronavirus Claims its 1st victim outside of asia an elderly chinese tourist dies in france. Patrol with u. N. Peacekeepers and the Congolese Army in east india see this