Transcripts For ALJAZ Growing Pains 20240713

To an end last month in 2017 saudi arabia the u. A. E. Behind and egypt cut all diplomatic and economic ties with cats are we are open to any genuine intention to resolve this problem and we have been we demonstrated this in fact when there was an opening. Here and november and of last year. And unfortunately these efforts didnt succeed and spears suspended at the beginning of january but. Remain at the same position that we are often the 4 blockading countries accused katz of supporting terrorism which its repeatedly tonight its also rejected a list of 13 demands which include closing a Turkish Military base downgrading ties with iran and shutting down the aljazeera media network. In december cats are sent its highest representation since the blockade then Prime Ministership. Then e to the annual Gulf Cooperation Council summit in saudi arabia at the time capsule had said theyd been positive talks with saudi leaders his attendance came after the National Football teams of saudi behind and the u. A. E. All took part in the arabian gulf cup in cats on november reversing an earlier decision not to participate. Cattle is home to the largest u. S. Military base in the middle east and gulf region the u. S. Has called on its gulf allies in the future fearing it might undermine its efforts to contain seize irans growing influence in the region normally the United States. Should have been involved in pressing all the countries involved. Saudi arabia the u. A. E. Bahrain egypt and qatar to come to some kind of date talked we have very very extensive relationships with all 4 of these governments all 5 of these governments and really its a failure of u. S. Diplomacy 3 years after the blockade began the 6 nation regional bloc is still struggling for unity so hideouts al jazeera doha the u. S. Defense secretary has called china the biggest threat to the global order speaking at the Munich Security Conference mark asked for accuse the Chinese Government of seeking advantage across the wilds by any means and at any cost and here again to other countries to stay away from chinese tech giant huawei and demands thats been rebuffed by european allies or chinas government has Just Announced the death toll from the corona virus has exceeded 1600 the head of the World Health Organization has warned the International Community its impossible to know which direction the epidemic will take us democrats are starting to cost early votes in nevadas president ial caucuses the still the still crowded field of contenders has been campaigning in las vegas ahead of the nominating contest next week and. South sudans president says hes agreed to a painful compromise aimed at meeting the deadline to form a unity government saw the kids cutting the number of states from 32 to 10 thats a major demand of the opposition to formally end the civil war care and his rival react much to have a week left to agree on a joint government after 2 failed attempts. Protesters in mexico have launched to the president ial palace to condemn violence against women demonstrators were outraged as a Newspaper Publishing Graphic Photos of the body of im not a victim the Mexican Government says 10 women died every day last year. Well those are the headlines the news continues here on aljazeera after growing pains to stay with us. I am on. The view growth of 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 fades to materialize we panic but why. Has 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 marx recognize Something Else as well it is this growth that will eventually destroy the system itself. And today has reached that point is the system about to collapse. Infinite growth actually be possible. The governments dont want us to even question the g. Word they dont even want to put the discussion around grace 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 often one of storm kindness garnished gave the whale to be defined as a dimension the of it was not a little you didnt talk vacs storm in standards. Fault a guy who just backs them style gets built out sucks them into finding and seemingly the audience votes us maximina what his finger was just the politics. But it went up and and because if not. Mediums he politique can come. On by the perfect thing. Is along his mention of the planet and keep to. The bucks to make him a huge how does anyone up in the back off. Where does this unshakable belief in Economic Growth come from. Hasnt always been there. Is a dream part of human nature. It was raw data was under imaginative use of mass production methods but there was a lot there was able to perform which was primarily to build more planes but all the United Nations but 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 did prosperity americans believed so firmly in this new formula that they compel their allies to bring they can elect 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 the. Became the single most important policy number. Across the world it kind of symbolizes progress to us soldiers says wow 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 anti 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 the believe in growth was now unstoppable. G. D. P. Became the most important benchmark in history. That 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 a thats a situation where growth makes some sense. But the idea that human beings all we want is more 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 grow the economy to satisfy human appetites. The 1970s so our growth rate sing 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 and then thats of course 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 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 growth 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 from reports was causing an International Uproar the brazilian rain 1st in the amazon basin with doing nearly untouched the huge brazilian state of matter 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 Breeders and finally the starving parents. Along that last. Misquoting of one point containing as is new on the nail your. Aspiration on what audi zome given was a shall not approach government and i. Believe school fair but as you live out of being there god put on knowing that god is following the cie intone there at the south side as. The ia wars are the dance of the fuzzy and the keep thing there. Were stamped their heads they are. In as good as a side is below the g. Of us both them slightly and then the merely meant them to mean by you. Must or noms the last when you see a pick your cup down must own all who are going to wash. Mark. Get it is their viii god dont keep boston broke without borders as the glue she has been a fierce would look to said im on your losing my. Tropical climate and there were 3. 00 to 4. 00 harvests per year and with that massive profits soy and corn for export an animal feed. I mean 163. 00 is the gateway to the amazon basin at both lumberjacks money and destruction into the forest. Today countless trucks lined the agribusiness highway transporting their valuable cargo to the international ports. They possum and the sea of soybean fields enormous silos and slaughter houses through one of the largest boom regions in the world growth rates of up to 20 percent business. And the savage piece is region. It was just. Its just amazing forests. 34 years just off colonization and needs to most important region nagra business off the country. Its the right place to make new investments to make money. d you carol a good part you sport it to russia china and the nordic countries. Do you think 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 found 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 possible for 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 lead to a transformation in the economics of our 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 retirements funds capital was that lose and the Financial Sector was flooded with my. Divorce a pact with the devil and the beginning of a slow process of self 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 co glamour and one of the biggest players in the global Financial Markets. Its been fun felt 600000000 oil whole different from 400000000 leaving so see shown at 100000000000 for the softness heel in the lead so see 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 owing base your pick your own and box in uk to a wolf in a party for mukesh cotton and the same box to pot its a peon so by spirit box in investments invested to one in it will be yen in foster to investments in autobahn and when the 2 leo in the city take. The summer was one of them also disclosed in china therefore also a show although some kind of want to both. The developed markets in europe and us. They also know new lines to be seen which we could never knock to a finance if a few of whats in it. Is if your parts and i missed in via so going to invest in visteon i sucked in the movie and its at the law. As a given in the token fini gano ponding given me a in didnt shred and then he can and then who has faxed to me indecent and done mukesh who will have to knock and. I defend it and the tufted his cysteine or docs to mistake nicholas is to stamp it door to push it all into over that i never was an invoice spent 9 as ish mish to me id have a tone of x. From the forst. Thank you sandy 6 a gothic anointed aiyana wilmas he thought he could hang. Up the socks to record all cars for cost by this thank god to 6 months i thought to assist could look for cost beyond. The number of millions of insured individuals its sent on its way to multiply when andre has group as a 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 in. 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 their return on that game and the moment 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 bond 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 friend you 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. And 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 their wellbeing of enteric 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 london. Known of times people financial i was a scientist and ive 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 is really kind of controlled out here which we had before and it was 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 credit governments and individuals rather take out 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 post debt which is created the growth we created and where we are today. The cold logic of the market 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 shark 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 of petunias hes in this new era as well as donald trump 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 move heaven 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 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. Using. A. Knife begin. Babies every year in the United States. It also ends on the same day. The baby is africanamerican. This is twice as likely to happen why. Rewind americas infant mortality on aljazeera. A unique kid endangered biodiversity lies in the heart of one of ecuadors tropical jungles there was a lot of misinformation about the city i knew most of we have here i know that has become as i said there are some conservation their communities algis there are journeys deep into the rain forest to follow a scientist and had teams afterwards to save the flora and fauna so precious in the region women make science ecuadors Hidden Treasure on aljazeera. Network to aljazeera english since its launch as a principal presenter and as a correspondent with any breaking news story in the world to hear from those people who would normally not get the voices heard on the International News channel one moment ill be very proud all fluids when we covered the Nepal Earthquake of 2050 a terrible Natural Disaster in the story that needed to be told from the heart of the affected area to see that to tell the people story was very important of the toilet. Youre. Hello again im mr dyer how with the headlines on aljazeera airstrikes by the Saudi Led Coalition and more than yemen have killed at least 31 civilians in an attack the u. N. Is calling shocking and comes off to saudi arabia confirmed one of its planes crashed in the same region where the rebels say they shot down the aircraft cousins foreign minister says recent efforts to resolve the gulf dispute was suspended at the start of january mohammad bin abdul rahman told a security conference in munich the discussions began in october to try to end the blockade of gaza by 4 arab states i think now its been almost 3 years since the crisis started we were not the perpetrator of for fear of that crisis and weve been very open and very clear that we are open to any genuine intention to resolve this problem and we have been we demonstrated this in fact when there was an opening. Here and november and of last year. And unfortunately these efforts didnt succeed and speed suspended at the beginning of january but would remain at the same position that we are all. The u. S. Defense secretary has called china the biggest threat to the global order also speaking at the Munich Security Conference modest but accuse the Chinese Government of seeking advantage across the wilds by any means and at any cost and he again added other countries to stay away from chinese tech giant huawei a demand thats been rebuffed by european allies chinas government says the death toll from the corona virus has now exceeded 1600 but there have been fewer reports of new cases for now the 3rd day in a row. Us democrats starting to cost early votes in nevada as president ial caucuses the still crowded field of contenders has been campaigning in las vegas ahead of the 3rd nominating contests next weekend and off to the chaos of the iowa caucus results pressure is on nevada to do better its also the 1st test of kind of its appeal in a state with a more diverse population. Protesters in mexico have launched to the president ial palace to condemn violence against women demonstrators were outraged at a Newspaper Publishing Graphic Photos of the body of a murder victim 25 year old in greatest familia was killed earlier this month the Mexican Government says 10 women died every day last year in gender based attacks. Well those are the headlines now its back to growing pains to stay with us and i was there. To. Give you growth 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 route 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 mox recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. If we reached that point is the system about to collapse from an infinite growth actually be possible. The Bloomberg Company from new york place a central role in the Financial System since the 980. 00 s. Bloomberg 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 i would provide a huge amount of data you should not have numbers on markets on economies all Companies Providing a chronicle of capitalism tell a story of money vitally important to bloomberg and central to what were about dollars. And not cross dangerous as one of most important numbers we look for if i say. Or on their own the state for the economy steady solid growth in Financial Markets do 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 or is a break on both the central question now is whether were in a cyclical slump or theres something structural is going on. Just. By release of systems based upon people remaining to have confidence in the information theyre giving out and the promotion. Of the ideology and the narrative which finance is based around which is increasingly become this kind of game show roche and. For a period time everybody wins. And then theres you know a number of economists marx keynes and 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 is 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 here. 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 need 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. Over the last 6 years more than 100 brand new airplanes. Charged. On airplanes every string days that the changes. Take hold. I thought theres a retail value or something to turn the bible belt. Up and i do well to that. I thought was how much of what you get the money that you are currently it will have a slightly montreux 100 apples. In china they tend to and every year in the range of 10 or 15 in you ample as want 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 market 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 know im asking about the perspective of the market i cannot imagine a dime ation of this market when i hands a reference of 1400000000 which is even more important than the whole of europe and more atrophy 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 life support 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 and can deal with these adjustments for a long time so. There was a deep shock in the system that 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 revise 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 became public that governments and the citizens press objected to a sturdy policies under which millions of people suffer to this day. Thanks and stop marthas however to demonstrate a sense of normalcy as soon as possible in reality nothing is as it seems kept the business survive the crisis but 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 that means something to that. 10 percent 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. 00 up 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 in banks thats interesting there are mixed. Opinions but you know. It bothers me just changed forever. 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 this underfund and the new york about the van that fell from 1000 mentioned off the market. Committee of dimensions and into the test tubes you can fall into a dozen shots from. As the hellish defense heart of the house in this in one of the New York Stock Exchange this is a lets say absolutely callous and was 1st published it. Is in this as the machine just about wins. We are in jackson cause of death into naming me a given of every chuffed to be given that isnt a name well then. Lets come on the awful scene and be among the hostages have been known to sing to the isle of the shaft with bells on if you have been in long outside but it was in one town well kind of talks to me getting tied to given a zing in cuts in trying to balance and cause them to mock police to towels on competition day. 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 go right so the hearts of the model they go right to the heart of the basic ideas of capitalism. Does capitalism is to work. The system deliver what it promises. Providing growth jobs and prosperity for all. Jambo inside your new small factory in the sea this is just. A little too and all. This meat on the cabinets you can win to sober up to. The traditions as long as its you just like a study of a cup of tea to be a hobby like a little salsa mostly on the lawn but. You need boxes been diminished. Ah but thats in the city on the bend us on the on the down the self you can find dont understand and this is all fine not to visit spots what was on the tube is thats not good as its come most mishmosh least. 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. B. M. Watson 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 within because cognitive stunt this these are just him or went off to compliment him. On dom its been a start its been its down kids i mean so i can see steam in how to bite something in length and in points in full view not find that to discuss some contexts in topics youve been hesitant to sustain begin to laugh when time goes the toilet doesnt pass also do not have hospital was just him all talk and on to it. If youre interested in checking if youre a spectator stand evolutions it makes this whole notion take great great gesture. As well as the care the right to face and during a show gets yes you can be able to do it the right people will do is to get to me shouldnt michael himself will interact with schools and we can have a short. Thank. You visit me stop by and zoom in on a farm set up so shuffle and getting tired here i can finish my work and then never off damiens i nixed the idea of teds mindsets building. And just how true in extremis if in extremis previously. In the future agribusiness and robots would 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 there are 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 or 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 meant time 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 has gone wrong with the us system have become impossible to overlook so why do we consistently ignore them. This is for t. V. The network was always stuck together for your. Time trusting a lot better now than i was before i had to tell it you know because if 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 a really nice quote. Michael mcclinton 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 is going to shock everybody in terms or keep ability were going to poll asteroids down from the Asteroid Belt that are loaded with platinum that would be where the 1st trillionaire comes from were going to unlock the ability to stop aging or destroy 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 strategy that 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 engine but if it goes back to exactly that same simple basic fact we live on a file a planet. That there isnt the space for the dream of this reinvigorated the ranks fetich this is. 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 violent. 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 again its time for a look at the weather conditions across the americas look at north america weve got some cold air across parts of canada in particular still some rain for where the system is cable of flooding across parts of the south extending across the Florida Panhandle so its going to be wet here certainly conditions across parts of the rockies looking quite snowy at times that south weather system beginning to come more fragmented dry for los angeles their highs of 22 degrees moving the forecast on them through into monday and see some snow developing across the upper midwest through towards the great lakes and were also going to see that rain moving away from southeast there is an improvement expected across florida moving down into the caribbean region jerry weather conditions here arent too bad we got one or 2 showers affecting the island of hispaniola but otherwise weather conditions looking pretty good weve got a few showers there for costa rica fuchsia southern parts of mexico extending into billys and probably guatemala at times now southward into south america weve got a fine conditions for many areas usual russia showers across central northern parts the amazon basin but you notice this area of cloud this is giving some heavy rain across parts of argentina in particular and it will be a wet day when its aries. The plundering of armenias natural riches has uprooted residence and desecrated the habitat of some of europes most inventors species. But a Remarkable Campaign by local residents is challenging the might of the countrys investors and pretty high hopes on its newly elected Prime Minister people in power investigates armenia mining out the left. On a. Big story general sounds like the media angles in this story are too numerous for comfort with different. From different perspectives seeing whos going to really believe the pray to the war to. Separate the spin from the facts the misinformation from the journalists on this show is clear and sounds to me and here people just think that we are listening on aljazeera. The latest news as it breaks down for the brits it has just been issued rather down to the end to the transitional period that has just begun we detail coverage you in studies that show that around 30 percent of people in conflicts are unlikely to suffer from some form of Mental Illness from around the world the government here has said only essential workers will return 3 others not for another week at least. This is 0. Hello there im a star and this is the news hour live from doha coming up in the next 60 minutes a plane from the Saudi Led Coalition crashes in yemen they say they shot it down. No time for complacency over the coronavirus the World Health Organization urges countries to step up preparations as the fast death is reported outside asia. China accuses the us of spreading lions after the secretary of state costs beijing as a rising threat to the world order. On the brian at that point in queensland where millions of tonnes of coal a ship out of australia every year find out why