Transcripts For ALJAZ Growing Pains 20240712

Allies will enter technical talks to establish a plan to avoid any such action Stephanie Decker has more now from istanbul. That announcement by nato secretary general came shortly after a Conference Call a video call that was held with the turkish president also the foreign minister here and Senior Security officials with the german chancellor Angela Merkel of course germany has been key in trying to mediate between the 2 sides trying to get the 2 sides to start negotiations what you have now according to u. N. Stoltenberg as you said an announcement saying that the 2 sides have agreed to start technical talks this has to do with a de confliction line if you will when it comes to their military assets in the Eastern Mediterranean because the sea is so heavily heavily militarized at the moment you have turkey continuing life fire exercises until september the 12th you have greeks military fleet you have other countries with the minute you fleet there as well so the potential for any accident if you will in such a tense time is very real so i think that move is of course a welcome move when it comes to deescalating that tension but the Bigger Picture of hasnt been addressed is incredibly complicated when it comes to maritime rights who says what turkey is not a signatory to the u. N. Nor of the see it here is to what it says its Continental Shelf greece of course says that turkey is infringing on its waters when its coming to exploratory moves that are still going on and will continue until september the 12th so its very difficult to see how those issues are going to be addressed and resolved because president has had a lot of harsh words in the last couple of days saying that turkey is not going to back down its being unfairly treated its coastline is being caged in and greece of course also not backing down saying that turkey is infringing on its sovereign maritime rights. U. S. President donald trump appears to have backtracked on his suggestion that voters should try to cast their ballots twice in the embers election to test the malin Voting System in an interview trump had urged people to send ballots by mail and then to try to vote again in person those comments sparked a backlash with democrats accusing the president of encouraging voters to break the law hes now changed this position saying those voting by post should go to polling stations to make sure their ballots are counted trump has been insisting that without evidence that more postal voting will lead to widespread fraud meanwhile democratic president ial nominee joe biden is visiting the city of commotion wisconsin the city has become the focus of the National Debate on systemic racism hes met the family of jacob blake the black man shot 7 times in the back by a white Police Officer last month the shooting touched off days of sometimes violent protests against racism and Police Brutality lebanons army says its found more than 4 tons of Ammonium Nitrate they root port its the same highly explosive material the cause that last months blast Army Engineers are reported to be dealing with it with no specific information given about what action is being taken. The kremlin has accused has rejected accusations that russia is responsible for the poisoning of Opposition Leader alexina valley but germany says it has unequivocal proof the kremlin critic was poisoned with another chalk nerve agent chancellor Angela Merkel is consulting your nato allies about any response which could include sanctions and india has suffered a world record to daily spike in infections more than 83000. 00 cases were reported on wednesday the 3rd time this week that the total is being above 80000. 00 the Health Ministry has the fan that the governments decision to further unlock the economy and lift restrictions that said grown pains is next for use in half an hour. d 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 believed 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. 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 call marx recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. Every reach that point is the system about to collapse. At 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 a is 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 canvas garnished gave the well to do from is it the mention the of it was not available you didnt talk vox storm in the. Fall to guy just fax them style gets built out sucks them into finding and semen is. What is being there which is the politics fast senior from the exhausted but went out and and because if not. Mediums he politique can come. On better perfectly. Its a long as mention of the planet and keep. The box to a huge how does fit in the back off. Where does this unshakeable 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 it was primarily to build more planes but 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 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 that. Became the single most important policy number. Across the world it kind of symbolizes progress to us sort of says while things are getting bigger so they must be Getting Better that was the us of 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 a massive one time destruction of the 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 a thats a situation where growth makes some sense. But the idea that as 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 great economy to satisfy human appetites. The 1970s so our growth rate sink for the 1st time due to the op 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 course became visible economically socially and ecologically. We do have some understanding about growth. 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 researchers at mit had calculated for the 1st time what continues Economic Growth would do to the planets 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 carries the seeds of disruption and necessitate a complete relook at the whole world social political and other situation. A couple of rome reports 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 for the Success Story of growth. Must continue. Unfortunately many of us called us predictions turned out to be right and in many cases reality even so possibly predictions. As the cover from reports was causing an International Uproar the Brazilian Rainforest and the amazon basin were still 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 move in 1st thank cattle breed us and finally the starving parents. Following their last. Misquoting of one point containers is near you in the mail your. Aesthetician know what automation all good noises shall not approach government and i bear billows will ferrell but as he leered of seen they get out upon knowing that a god is following the cie they all bear with us as odd as i am the ear wars are the dance of the fuzzy and the keep thing theyve each quatro were stamped their heads they are. In that good as society as bill de gea of us both them flightplan from the me you know you meant them to mean by you. Must or numbers a loss when you see a pick up down must own all who are going to wash. Them are. The gap is there by god alone could possibly broke without. The sestak luzhin. Has been a fierce with the settlement you losing money. The tropical climate and then the 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 and both lumberjacks money and destruction into the forest. Today countless trucks lined the agribusiness highway transporting their valuable cargo to the international ports. They pass and enter the sea of soybean fields enormous silos and slaughter houses to one of the largest boom regions in the world growth rates of up to 20 percent business. And the seventys is 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 the right place to make new investments to make money. d 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 influences of chinas capitalist. These had been contained after world war 2 because there were hundreds possible 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 cool 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 transformation in the economics of our society and in particular how we think about grace and how 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 let loose 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 and one of the biggest players in the global Financial Markets. Its been fun filled 600000000 Oil Different from 400000000 leaving so see shown at 400000000000 for the software c. E. O. In the lead so see shown 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 on base your figure one in box in uk 2 is wolf in c. A party for mukesh cotton and the same box to pot its a peon so buy spirit box and investments invest its own in it will be and in foster investments in autobahn and when the 2 leo in the city take. The subtle eyes more than positive closed in in china therefore also a show although some kind of one of them both. In the developed markets in europe and us. They also know new life wants to be seen which we could never knock to a finance if a few of whats in it. Is if you put sand high fashion mission via in so going to invest the high sheen visteon as acts in the movie and its at the. As a given in the token fini gano ponding given that mia in didnt train and then he can and then who will this fax to mean decent and none mukesh to the left eye doc and. I defend it and the tough to his system to mystique no trick is to stop it going to push it into over shit the toy that i knew was an invoice spent 9 as ish mish to me id have it torn effects from the forced. Thank you sandy 6 a gothic anointed aiyana will miss he felt he could think. Up the sox 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 ascend 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 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 assets. 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. With a less 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 kept us today Financial Markets not governments determine their 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 this year at college for nearly 30 years he was a Successful Fund manager on wall street and in the city of long. Known of plants beautiful much as i was a scientist and ive been offered 20 times in 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 control that is here which weve 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 seem to work stock markets build roads no longer needed to be financed by increasing wages and tax revenue now it was all about credits 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 close 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 opportunities 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 Luxury Hotels and apartments he received financing from banks high on the market boom and through the largest tax break in new york city history trump himself had practically nothing more 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 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. To project knowledge and extra knowledge but they really dont have any more knowledge than. A unique kid endangered by a dive this. City lies in the heart of one of after those tropical jungles there was a lot of misinformation about schiano last of a half year and now the probability is becoming by their self conservation and their communities out jazeera journeys deep into the rain forest to follow a scientist and have teams aphids to save the flora and fauna so precious in the region women make science ecuadors Hidden Treasure on aljazeera. Chinas new National Security role has tightened beijings grip on hong kong and stifled protests that rocked the city a year ago. With prodemocracy candidates now disqualified from running in elections and activists fearing imprisonment or worse does this spell the end for one country 2 Systems People in power investigates hong kong and the game on a jersey about. Building a wall was the promise made in the bid for the white house 0 tolerance approach the southern border became government policy detaining children and separating families the stark reality and picture too much to bear for Many Americans in a country that was built on immigration. Follow the key issues of the u. S. Elections on aljazeera. The. Hello in london these are the top stories on aljazeera greece has denied it will hold talks with turkey after nato announced that the fusing tension in the Eastern Mediterranean countries are longer heads over the ownership rights of offshore oil and gas reserves the a cyprus and crete the neighbors have been carrying out competing military exercises in the region they have accused each other of stoking tensions with threats of military action Stephanie Becker has more now from istanbul. Turkey is not a signatory to the un nor of the see it here is to what it says its Continental Shelf greece of course says that turkey is infringing on its waters when its coming to exploratory moves that are still going on and will continue until september the 12th so its very difficult to see how those issues are going to be addressed and resolved because president everyones had a lot of harsh words in the last couple of days saying that turkey is not going to back down its being unfairly treated its coastline is being caged in and greece of course also not backing down saying that turkey is infringing on its sovereign maritime rights so none of that being addressed at the moment u. S. President donald trump appears to have backtracked on his suggestion that people should vote twice in the oven brazil lection trump had urged people to send ballots by mail and then try to vote again in person democrats accuse the president of encouraging voters to break the law will trump now says people should go to the polls to make sure that their mail in ballots were counted meanwhile democratic president ial nominee joe biden is visiting the city of can osha in wisconsin the city has become the new focus of the National Debate the bait and systemic racism hes with the family of jacob blake the black man shot 7 times in the back by a white Police Officer last month the shooting of touched off days of sometimes violent protests against racism and Police Brutality. The kremlin has rejected accusations that russia is responsible for the poisoning of Opposition Leader Alexei Navalny germany says it has unequivocal proof the kremlin critic was poisoned with another chalk nerve agent chancellor Angela Merkel is consulting her nato allies about any response which could include sanctions more and all those stories on the aljazeera news hour thats coming up in half an hour coming up next growing pains continues thanks for watching. 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. 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 col marx recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. Every 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. 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 provide a net chronicle of capitalism tell a story of money vitally important to bloomberg and central to what we are about dolls. I dont cross dangerous as one of most important numbers we look for if i say. On the on 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 at the newspapers at the moment you get the feeling there is a. Growth in 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 croce things. 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 high returns 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 that. Leap. I thought theres a saying that theres something to turn the battle now. That says im doing well at all. I thought i was up thats about to get the audience right but currently we have a slightly montreux 100 apples. In china they tend to and every year in the range of 10 or 15 and you have false 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 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 know im asking about the perspective of the market i cannot imagine as 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 his emissions but if we look at 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 Lehman 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 drive a dead became 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 capitalism survive the 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 an honest 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 were doing and thats the real skills 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 2000 mention of theme park at. A middle point of a 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 and this is one of the New York Stock Exchange this is a list the average i was in was 1st published it. Is in this its the machine just about wins. We are in jackson cause the death had just eaten by the want to name an mia given of adults off the top not going to give in and is going to name. Him off the oxen cause it does come on the awful scene and the among the hostages have been known to the i love village shaft involves a. Long outside but it was in one town about kind of talks to me getting tied to given a zing in cuts in trying to balance and cause the doc to mock police to towels one cup of tea from the. Kid 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 on the 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 heart 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. The on the one side is your new Smart Factory in the uk see this is just. A little too long. In this meeting on the cabinets you can want to sober up to it. Not to use this one gets you just like youre inside your cup of tea did you harm it like a little slow. Motion done on the lawn but. You need boxes been diminished. Ah but thats in the city on the bend on the on the bed and selfie in front i dont understand what this is all by not to because its a box that was on the tube is thats in the book is its come mostly for she said. Ever since the Industrial Revolution machines have been replacing human labor. Causing Great Society the pavements. But until recently they have 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 interactive humans on human terms. So obsessed interested into the mind with them because of cognitive off the instant this does assist him or went off to compliment him. On dom its even a start in kids. Get an insight and system in how to bite something lengths unemployments in full view not find that to discus something contexts into the tube in heaven into system begin to laugh when time goes entirely deceive us also did not have hospital was just him all talk and on to it. If youre interested in checking it that youre a spectator understand evolution is it makes this whole notion take great great gesture. As well as picture the rights of gays interracial get yes you can be able to do it the right people will do is to get me to go michael in self role 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 im getting tired of hearing him i can finish my work. Then never off damiens i next see a 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. Means of jobs through. The. New technologies like Economic Growth but not much in the way just and that could endanger capitalism itself. Be able to purchase all the nice things mass produced every day but 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 was theres really no human in our bench and i really dont believe in leaving the room. And letting you know something trade unintended its about being there 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 there is 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 algorithms 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 a system thats 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 did tell it you know because they even hire you 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 ridge 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 a 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 thats going to shock everybody in terms or keep ability were going to pull asteroids down from the Asteroid Belt or a load of 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. Theres a sense of desperation to 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 no we dont have to think about detailing christ 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 and peace and then vironment. Capitalism has reached a new level of escalation but its no longer suited to the world we live in. Its and its closer than we think. Hallow the last few days has seen considerable warmth the New South Wales a special look especially in sydney and especially on beach as temps exceeded 30 degrees so people enjoyed it in fact came back to find a bit of cool well thats happened anyway because the river front came through the temperatures dropped to about 10 degrees at about 23 degrees and in the sherry i think through friday and saturday rather more active weather still coming through tasmania in the. Bass strait or at least the western side of it in perth the suns out and youve got 2122 so youre sort of matching really but the real weather is just drifting cross the tasman sea down towards new zealand and the suns really rather more dominant for most of australia apart for a few coastal showers in tropical queensland. Weve now seen the back as you know of my zack went through north koreas up in the northeast of china that will fall apart we cant record a typhoon even a tropical sidetone anymore but you might notice that russians their russian is going to be drawn into quite a big typhoon at the moment over water thats not a big problem at the moment and everywhere else is looking much drier however if you run forward of the next day or so it drift towards a similar past and it might well end up in south korea. For. An experimental treatment in russia and some multiple sclerosis sufferance that is seen to be treatment in us one o one east follows those trying to get in and out of moscow in a time of pandemic and. In the global fight against Financial Crime banks rely on databases for customer checks and it requires you to shore that you love know who that person is and you understand the risk that that person brings to the bank in terms of Financial Crime Al Jazeera World investigates big Financial Data and what can happen if you find yourself on a list of. Terrorists the database on aljazeera. September on aljazeera the trial of those accused of helping in the 2015 Charlie Hebdo newspaper attacks begins in pants as the world plans to move to was a green energy a new documentary examines the fresh environmental challenge this weapons fall in the postponement of parliamentary elections due to coronavirus iranians return to the political one on one east investigates indepth stories from across asia and the pacific as u. S. President on trumps executive order banning will check chinas most popular comes into effect across america will this put the strain on u. S. China relations its september on aljazeera. Warning the world. This is al jazeera. Live. Hello im Barbara Starr this is the aljazeera news hour live from london thank you for joining us coming up in the next 60 minutes the u. S. President backtracks after being accused of suggesting that people vote twice in the november election the fusing tensions in the Eastern Mediterranean nato says greece and turkey are ready for talks athens denies any such agreement russia rejects accusations alexina there was