Transcripts For ALJAZ Growing Pains 20240712

Leader Alexei Navalny stoltenberg called it an appalling assassination attempt by moscow and said it was an assault on fundamental rights time and again we have seen Opposition Leaders and critics of the russian regime attacked and their lives threatened seoul have even been killed so this is not just an attack on an individual but on for the mental democratic rights and it is a serious breach of International Law which to moms an International Response. We wish mr noel now a full and speedy recovery. Translation of its got through it has more now from moscow on what stoltenberg had to say. Yes stoltenberg called for russia to cooperate with what he called in passionate International Investigation into what happened with no value but also to cooperate with any zation for prohibited of chemical weapons and to disclose fully and completely the novacek program this is a program where that made this chemical weapons basically for military military use from seventys to the ninetys this calls were also heard in the case of poisoning of scruples in the u. K. And of course russia did not disclose them then so what the yes the ultimate it was was it was saying actually as he called russia to fully cooperate and also to the perpetrators to be it will be found now before this press conference of the spokesperson for russian president Dmitry Peskov he said that russia is willing to cooperate in an investigation that will open a criminal investigation once it has confirmed that it was indeed boys and for which he said that theyre expecting some response from from germany they actually want to see this proof that poisons were found in. Body so that they can open this this criminal in investigation one crew member has died in an engine room explosion aboard an oil tanker which is on fire off the coast of sri lanka 22 other crew members were rescued from the new diamond it is a panama registered tank of its been on fire now for today its the Sri Lankan Navy and indian coast guard ships are there trying to help put out the fire. The latest monsoon flooding in pakistan has killed 48 people hundreds of homes are damaged or destroyed and roads and bridges have been swept away days of torrential downpours and flooding caused chaos in the Financial Capital karate more than 200 pakistanis have died since the monsoon season began in july. Donald trumps creating more distrust and confusion around mail in voting ahead of novembers election speaking at a rally in the swing state of pennsylvania the u. S. President said those who vote early by post should still go along to polling stations on election day to check if their ballots actually been counted Trumps White House rival joe biden was in can ocean meanwhile on thursday the latest city to become a center of racial unrest in the United States while there he spoke to jacob blake the africanamerican man who was shot 7 times in the back by by police. U. S. Media say a suspect linked to the Fatal Shooting of a protester in portland has been shot and killed by federal agents who are trying to arrest him a supporter of a far left group is being investigated over the death of a far right activist that happened during weeks of often violent demonstrations in oregon against racism. Part of marcus the activists in hong kong lodging cinemagoers to boycott a new disney movie the star of milan you fail you caused outrage by voicing support for the Police Crackdown on antigovernment protesters protests later joshua wong says anyone who believes in human rights should not be supporting that movie tonight with the headlines here on aljazeera growing pains starts right now. 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 that 150 years ago growth is the fundamental principle of our Economic System. Capitalism only works when the economy grows but calm ochs 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 from an infinite growth actually be possible. The governments dont want to even question the g. Word they dont even want to put the discussion around gross if youre looking at this from the outside 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 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. And what is this visceral fear that emerges as soon as growth starts to go away. And exertion of one of congress garnished gave the whale to be definitive dont mention the lives you didnt talk vacs storm in the last. Fall to go back soon style gets built up stocks diminished by new and seemingly as he argues go to outfox them and what is being that which is the politics fast senior from the axles to but women and and because of. The d. M. Z. Politique we can come. That said the tuesday will veil on a bit of a fickle. Isil and his mention of these blarney and keep to do with mizuho visit is bucks to him. How does fail each one of in the back off. 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 there was able to perform which 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 ships 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 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 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 off towards it 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 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. The ng at. 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 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 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 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 top of rome report sold 30000000 copies and became a global sensation. And yet soon this cause 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 us called us predictions turned out to be right and in many cases reality even surpassed the bleak predictions. As the cover for all reports was causing an International Uproar the Brazilian Rainforest 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. Has left since the mid eightys progress 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 Breeders and finally the starving parents. Following the last. Misquoting of one point containing as is new on the nail your. Aesthetician know what automation home given the pledge government and i. Believe school fared but as you live out of seen they get out upon knowing that a god is following a cie in their own there is this as odd as i am the ia wars are the dance of the fuzzy and the keep thing there. Were stamped their heads there. In that did yes those are just below the g. Of us both them slide plimpton the meter you meant them to mean by you. Must or no muscle loss when you see a pick you up down motion all who are going to wash. Them are. Gap is there viii god only could possibly. Go the sestak lucias ain been a fierce would look to said one you got a fish losing money. The 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. Irene 163. 00 as 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 courts. They pass. And enter the sea of soybean fields enormous silos and slaughter houses through one of the largest regions in the world growth rates of up to 20 percent business. And the savage piece 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 the nordic countries. Do you see any limits to 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 possibility 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 consumable 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 kept there 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 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 400000000000 for the softness you know in the lead so see shown leading via the foresaw good ones oquinn lifeless to she went on my country to so for stay in. The us some. Of figure one inch on base you think you want in fact uk to it it will fit in such a party for mukesh cotton and the some bucks to part its a peon so buy spirit box and investments invest its own in it will be and in foster to investments in autobahn and when the tulio in the city take. The summer was more than also disclosed 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 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 in this t. V. Visteon as acts in the movie and its at the. As a given in the token fini gano ponding given that mia in didnt shred 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 talk to his sister to mystique nucleus is to stop it going to push it into over the top that i knew was an invoice spent 9 as ish much to me id have it torn effects from the 1st. Thank you sandy 6 a gothic anointed aiyana will miss he felt he could hang. Up the socks to record all kiss for cost by this thank god to 6 months i thought he shot his sister could look for cost beyond. The number of millions of insured individuals it sent on its way to multiply when andreas 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 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 moment there is another agenda. Well why im commander just 1. 2 trillion euros obvious its and in germany were managing 490000000000 euro as 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 and 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 truly 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 governance 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 else you have culled for nearly 30 years you were the Successful Fund manager on wall street and in the city of london. No i never plan spewed from lunch or 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 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 brute growth no longer needed to be financed by increasing wages and tax revenue now it was all about credits governments and individuals were to 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 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 of a 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 that unit 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 Luxury Hotels and apartments to receive 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 at 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. This lands of money you know. A pointy sions playground during election season they say if you win in volleyball youre got mail but the left promises are made and votes are gambling their votes are for sale so you have to pay them to hold for you but real real change is make their way to the lives of the people who werent loved on leave in this land. On aljazeera. One half scottish and half lebanese so diversity is really important to me and aljazeera is the most diverse place i have ever worked we have so many different nationalities and this is a nice pull together in this one News Organization and this diversity of perspective is reflected in our coverage giving a more accurate representation of the world we report on and thats a key strength of aljazeera. In the global fight against Financial Crime banks rely on databases for custom a chance and it requires you to ensure that you know who that person is and you understand the risk of that person brings to the bank in terms of Financial Crime algis or world investigates big Financial Data and what can happen if you find yourself on a list of hair style terrorists the database on aljazeera. Were more unique. To the old. World. Part 2 of growing pains is coming up on aljazeera but 1st a check of the headlines and rescue workers believe theyre close to reaching the source of a sign of life detected under the rubble of a collapsed building in beirut scanning equipment did pick up indications of breathing a month after the massive explosion which killed more than 200 people and injured thousands more of the headlines nato as secretary general is calling on russia to cooperate with an International Investigation into the alleged poisoning of Opposition Leader alexina valmy Jens Stoltenberg called it an appalling assassination attempt by moscow and said it was an assault on fundamental rights time and again we have seen Opposition Leaders and critics of the russian regime attacked and the lives threatened some have even been killed so this is not just an attack on an individual but on from a mental democratic rights and it is a serious breach of International Law which demands an International Response we wish mr not only a full and speedy recovery one crew member has died in an engine room explosion aboard an oil tanker thats on fire off the coast of sri lanka 22 other crew members were rescued from the new diamond panama registered tanker which has been on final for 2 days the Sri Lankan Navy and indian coast guard ships are there trying to help put out the place. The latest monsoon flooding in pakistan has killed 48 people hundreds of homes damaged or destroyed roads and bridges have been swept away days of torrential downpours and flooding caused chaos in the Financial Capital caracas you as well donald trump is creating more distrust and confusion around malin voting ahead of novembers election speaking at a rally in the swing state of pennsylvania the u. S. President said those who vote early by post should still go to polling stations on election day to check if their ballot has been counted and prodemocracy activists in hong kong are urging cinemagoers to boycott a new disney movie the star of milan you fail you caused outrage by voicing support for the Police Crackdown on antigovernment protesters purposely to joshua ones as anyone who believes in human rights should not be supporting that new movie once again youre up to date with the headlines on aljazeera growing pains continues next and then the new south. The health of humanity is at stake a Global Pandemic requires a global response. W. H. O. Is the guardian of Global Health delivering lifesaving to School Supplies and training to help the worlds most found mobile people uniting across borders to speed up the development of test treatments and a vaccine working with scientists and Health Workers to learn all we can about the virus keeping you up to date with whats happening on the ground in the ward and in the land advocating for everyone to have access to essential Health Services now more than ever the world needs w. H. O. Making a healthier world for years. For everyone. If 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 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 call marx recognize Something Else as well it is this growth that will eventually destroy the system itself. And today. Every week that point is the system about to collapse. Infinite growth actually be possible. The Bloomberg Company from new york place a central role in the Financial System since the 1980s who merkins 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 all Companies Providing a chronicle of capitalism telling the story of money vitally important to bloomberg and central to what we about. Economic growth dangerous is one of most important numbers we look for if id say fourscore on the on the Statement Economy steady solid growth in Financial Markets do usually reflected in solid stable 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 i get the feeling there is a is a great. The central question now is whether or not a cyclical slump or theres something structural is going on up biggest. I release Information Systems employees are based upon peoples remains have confidence in the information they giving out on 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 as you know a number of economists marx keynes are pointed out is eventually all these mains 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 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 brand new airplanes. Charged. On airplanes every string days the changes. That take something. As our years a tale after something to turn the battle now we all know that since i do well to. Walk i thought myself thats about to get the audience that even though were currently we have a slightly montreux 100 apples in china time and every year in the range of 10 or 15 in you want to be 0 imagine if everybody. Now for the travel expenses even the president 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 a dime ation of this market when i have the 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 humanities 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 debt 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 cleanup 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. To. The long run im confident that our Capital Markets are flexible and resilient and can deal with these adjustments for a long time so that. There was a deep shock in the system there 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 it 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 policy is under which millions of people suffer to this day. Thanks and stock markets however 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 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 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 there are mixed. Opinions and you know if i mean just change crowd are. 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 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 2000 mention of the market. Committee of home to other dimensions and into the test tubes youre going to just fall into ive been shot through tells me its in the wind as the hellish defense hot in the housing 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. In jackson cause a decided to invite want to name in me a given of every chuffed a top not been given and is going to name well then. Lets come on the awful scene and be among the hostages have been known to the i love village shaft impels 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 because of dr mark police towels or copper to fund it. 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 in a. Just look at Say 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. Capitalism is to work. The system deliver what it promises. Providing growth jobs and prosperity for all. The on both sides because your new Smart Factory into see this is just. A little cooling off. In the schmidt on the cabinets in congress and she said of all opinion. Not true she is a sleaze thats you just. Get a cup of tea to be a hobby like a little slow. Down on a lot of. Unix boxes been diminished. And all but thats in the city on the bend us on the on the bad self you can find dont understand and this is all fine not to because its a box that was on the tube is thats in the book is thats come most mishmosh least. Ever since the Industrial Revolution machines have been replacing you label that because ingrates aside the pavements. But until recently they have only replaced the physical labor of humans. Now machines are capable of doing what makes us humans unique they able to think its a completely new chapter in Human History which will have massive consequences on how we live and work. Cant. Technology thanks watson can. I be a mountain is a technology unlike any thats come before because rather than force humans to think like a computer thats an interactive humans on human terms. So its just interested in some of them because of cognitive off the instant this does a steamer and off to compliment them and when dom its going to stop kids and kids i mean so i can system in how to bite something lengths and in points in full view not find that to discus something contexts into the tube in heaven into system 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 it that youre a spectator stand evolutions it makes this whole notion take great great gesture. As well as picture the right to face interracial get yes you can be able to do it the right people ultimate goal is to get to me michael himself will interact with schools and we can have a short. Visit me stop by and zoom in on our farm said bob so shuffle and getting tired here i can finish my work. Then never get off damiens i nixed the idea of teds mindsets building. And just how true in extremis if an extremist previously. In the future agribusiness and robots would be able to carry out nearly every would seem to ask previously performed by. Means of jobs who. These new technologies can survive to connote a growth but that much in the way of jobs and that could endanger capitalism itself. Would 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 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 that 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 met 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 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 had to tell it you know because if 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 i call if i want to be 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 again this company that ive created is my campus. 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 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 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 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 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 legit 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 regs 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 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. Weve got lots of fine weather across the good parts of south america clearing skies down to the southeast of brazil so well so fine and sunny weather coming through here well see a clear skies as we go on through friday for much of europe wide down into a kid parts of the 5 whether russia stretches across a good part off brazil as well up towards the northwest and colder just around the western side of the amazon thats where youre going to see the main focus for showers as we go on through the next couple days old come saturday there will be some wet to weather into that fosse how things to kona of brazil there is at 28. 00 celsius warm dry sunny fabulous 31. 00 degrees will see similar temperatures across the caribbean actually over the next few days very much a case of sunshine and showers here as it should be some clumps of storms just rolling a little further west was or could see some wet weather just diving towards jamaica as you go on through friday and on into saturday western side of the region said they say some heavy rain nicaragua costa rica pushing up towards guatemala still seeing some showers along the spells of rain as i watch the weather heading towards jamaica is we go on through saturday for they still doesnt that say bad more sunshine and showers watch out for some heavy showers still into the southern half of mexico. Into this story. To see this generation will have to create. An online. The part of the debate any person you keep coming when no topic is off the table is taking on all the systemic islands that people of color have suffered not only now but for decades we are going to be to transform lives the way tickets human way to a business if were going to adapt to climate break down this street on out is the. This is al jazeera. 1300 hours g. M. T. Here on aljazeera and come all santa maria welcome to the news coming up a month after the beirut explosion and rescue crews dig and listen for hints of life beneath a collapsed building. Time and again we have seen the Opposition Leaders and critics of the russian regime attacked nato pressures their russia to cooperate with an International Investigation