Was about the Democrat Campaign so obviously they were less favorable to President Trump than the than the republican commentators were and theres a bill says the coming because it was a debate about tom green in the hospital he shouldve saved money and stayed home since his symptoms were mild he is the president after all and can do as he pleases so why go to hospital and following up on this point and says he either never had it and staged this or he has and does not care as long as and she says president comes attitude as i am all right im the best all right i have ever been an aide says that steadily its make you feel brand new but money coming home comes to present comes defames she says i know 3 people who tested positive for corbett and to an asymptomatic and out of my partner to call for 2 days ive not had trouble fun but accusing him of faking it with evidence is very odd to me john says trump says all american should receive the same treatment he hunt thats going to take a phenomenal amount of movie producers production crew and helicopters thomas says if youre not going to give this drug cocktail free to the American People lisa says im curious become the president of america be used as a guinea pig for untested medical research if anyone knows please could you let me know and mikes. Known defender of the president he says top became president broke records in the short time he created millions of jobs and unemployment a record low as he just taxes and wages increased trump as one of the greats yet the super rich feedom so they want to paint a bad picture why else would he be out for 3 piece awards norma says i was watching c. N. N. And a commentator said trump would come to scotland when he loses i was screaming at the television we dont want him either tracey says you dont speak for everyone some of us support him actually but bob says the one of these to distance itself from america before the pool other countries dont the toilet with them this is why there are so many people in america whose heads are spinning just now and theyre back to this meeting in april we asked professor David Blanchflower for his assessment on the measures required to stave off obama to station this is what he had to save back in 2008 the world was unprepared for a financial crisis in 2020 they were unprepared for basically a Health Crisis and so now were playing catch up and all the responses that weve seen which i said were exemplary but im not going to be enough theyre probably going to do the same thing next month and the month afterwards and so what that means that with being are unthinkable is that over this decade or throw the world and policymakers have been utterly unprepared today he joins alex to assess the impact to date on the United States and world economies and get his views on economic consequences of President Trump and challenger joe biden and professor David Blanchflower joins me from florida welcome back to the show danny. Good to see here again of course now what about the Economic Policy the sponsor in america when i last spoke to you in the show you were pretty complimentary about the the big guns being trained on the the impact of the pandemic i still satisfied that the immediate policy the sponsons been up to the task well it was really very good from around law a law down huge response sent through by congress all together and then as often is the way with these things the initial enthusiasm died away and the Unemployment Benefits that the congress was paying out stopped at the end of july and basically the economy has now started to slow because the stimulus has been pulled back and the economy is slowing and i think its actually impacting the polls and its impacting republicans and its impacting Donald Trumps position in the polls so the answer is bad there and in the u. K. Context we so Good Good Good response oh now we seem a chance to look at laying around of the day we starting to see unemployment rates coming out and i suspect yet were going to see of the same thing in the u. K. So initially good and now theyve got cold feet and were seeing slowing as the kind of expressing it now you will one of the most trenchant critics of the economics of a stand at the end of the Great Recession of 2910. 00 but its a different perspective a bigger opportunity now because because the borrowing rates are so low nonexistent what exactly is the constraint the fiscal constraint that so many governments seem to be if 100. 00 cuffing themselves putting themselves in manacles as opposed to taking the opportunity of these a credibly low balling rates to to get the job. Don what weve seen in the United States is a tax giveaway which raise the deficit and raise the debt by 2 truly so i think its hard to argue that you care that much in these times about the debt so i agree with you that borrowing is a is completely sensible thing to do perhaps what we should focus on is not so much how much should you borrow the question is what should he spend it all and i remember telling you when you were 1st minister you when you thought a lot about well can we do about Shovel Ready Projects can we actually start thinking and investing things and it was about building off those build schools build roads build sensible things to get the economy going and quickly so the answer is you can borrow cheaply go to its an Economic Policy terms what difference would a President Biden make going to pay up to president toms absolutely i think youre going to see a series of things i mean the 1st thing youre going to see on the International Things this that and on day one will rejoin the paris the paris climate of cool music youll see a bigger push in terms of helping people in clean energy or all of that kind of stuff but i think what youre going to see is a steady way Forward Investment in jobs try specially to protect the Affordable Care act and i dont think youre going to see anything huge carly because biden has reassured the markets and has actually said that when the big Economic Policy and alex is that theyre going to reverse those tax increases and theyre basically got a promise they will do not think the vast majority of people who earn under 400000. 00 a year and i think the reason in a sense is that those tax cuts really have show its hard to see any Major Economic benefits you just change income inequality and wealth inequality you just move money to the rich so i think thats the big thing going to see but i think increasingly there is not going to be a giant change because they reassure the rockets and. Basically they can and move to job creation especially in in Climate Change areas. The lesson of economic crisis is the end does provoke new economic thinking when keynesianism was at a large extent new economic thinking caused by the Great Depression by often takes a bit of a time for the it to become a translated into Economic Policy often doxie seems to have a strangle hold and we saw that again in 2910 what are your hopes this time round with a serious economic crisis following the hand demick that new economic thinking will be translated into new Economic Policy well theres a really great question but if you had you have to look forward and think well what did we learn from the pandemic in america the crucial distinction is the republicans are going to the Supreme Court a week after the election with 20 attorneys generals to tear down the Affordable Care act and the question is 75 percent of the people support it or what are you going to do are you going to remove that place with nothing so i think Going Forward these kinds of battles about can Health Insurance how you deal with the low end of the crucial thing and i think the other question is going to be what the heck youre going to do about it you know in the skull in this a big issue in this initiative and in america its a giant issue would be unit vase the governments are oh no what hold in order to get new economic thinking translated into policy action well i feel this 2 parts and im a student history is you i mean the 1st thing is that when the boat sinking in the people are in the war so priority is to save them save the economy and build it and then start a plan for the future and i michael and i thought a lot about this in fact in 1943 in the midst of the 2nd world war with student should chill got a got an economist william beverage to actually write about it i mean you know this write about what are we going to do. When the troops cumple what are we going to do when the women who worked in the factories what are we going to do about them when they come home and this great work he did talked about establishing a welfare state thinking about how we run an economy so that pizza decent jokes of people so its that kind of thinking strategically long term thinking i mean its a bit like what are you going to do when the troops come and the answer is you going to have to start to build a society for everybody is going to have to start to deal with the left because its about science good jokes for people so im going to get you to take your crystal ball and you have you know takes become way for a 2nd that you had to push on whether you think the policy response until nationally is going to be like the new economic order which followed the the cataclysm of the 2nd one war or is it going to be the the underachievement and the performance that followed the Great Recession of 2910. 00 im going to get a new way an economic summit going to be stuck in the ruts in the past oh my heart hoax my heart hopes that it will be kind and gentle and positive but my head tells me that it will be much like we saw in the Great Recession where George Osborne comes ian impose austerity and says were all in this together which is precisely that was not true that was precisely not true and so the question is once with through this kind of damage and we through this phase will it be back to the old will. And i dont know i mean i do think alex that perhaps whats different this time is that this pandemic will change peoples with behavior in the long run the Great Recession didnt it didnt it was back to normal pretty quickly but i think this thing what old people are doing i mean them in america the big thing with trump in 2016 was the old people with it today theyre not he says go out come to a rally go to the store and their doctors are telling them not to so the question is is this. Is there a long run change in behavior and if there is then the scope i think it will see fundamental change and that when youre holding you know youll soon tutorials at the present moment with a student of college and quite as the question that they are asking you about contemporary Economic Policy what was the thing theyre saying fess up blanchflower kenya can you tell us why this is happening or not happening well thats a great question i think i think the big question that theyre asking right now is what the heck is going all i mean how is this about anything given new ways of working out whats going on but especially whats coming i mean what the heck is coming i think thats what were trying to work on and thats hard but this is exciting times and hopefully hopefully this will actually prove to be positive but its hard to see that in the darkness of the storm professor David Blanchflower thank you again for joining me on the alexander show thank you. Join us after the break well be talking the economic focus from their medical election to the next election showed you in the u. K. For the Scottish Parliament and the National Assembly of wales join us a. Dark industry comes to life in los angeles every night. Dozens of women sells their bodies on the streets many of them underage. Los Angeles Police reveal a taste of their daily challenge you know if youre going to exploit for a child here in los angeles all they were going to come out of your busy office is going undercover as 6 workers and customers to fight 6 trades. Never play high and low poker thats when the low here and the high hand where so weve got a situation in the Global Economy right now where in the currency markets various countries are trying to win with the worst possible hand lets see how this works out. Welcome back the next election shadowed in the u. K. I dont scotland and wales next year the polls will be dominated by quick 1000 and its consequences the economic circumstances are likely to be dire but it is new thinking coming forward to meet the scale of the challenge alex is in conversation with former cabinet minister alex neil m. S. P. I love 7 in the help i did a tour of the scottish think tank called me to be. Welcome to the sure our could rob ladies i knew you were a former cabinet minister be it on the the back benches know in the in the scots bond that youve recently published an economic plan for the coverly there were clearly great health or may have been soup which is going to be accompanied by a huge economic emergency what should plan consist of and whats the chances of it being brought forward into action. Well the 1st subject of alec is the major real survive through the pine derry Weather Center vigils or businesses so the number one priority is an emergency funding for businesses and for individuals to make sure people dont end up and die a day as a result of the pandemic secondly they ended up plan to deal with the tsunami of unemployment that is very clearly coming through in scotland and indeed the rest in a decaying to wales and Northern Ireland as well as england and i think needs a number of things to happen number one we need to keep the Social Security improvements to make sure the spending goes in the economy at a local level secondly we need an Investment Program in infrastructure and thirdly we need a massive Investment Program also and business Business Investment ali indeed business infrastructure for the longer tim and i think if we do all of these things together. Then we have a good chance of minimizing the impact in terms of unemployment but also surviving the pandemic so weve got an economy to go back to once upon the knicks over robert capa in committing the think tank common weale which press publishes oppressive range of policy is also subject to crises such as this actually provoke new thinking and tabs of economic and other policies well not street week one of the things i think were seeing at the moment as everybody fights the last war as we fight the last war were facing this is a normal crisis a normal economic problem and we try out for a while and then we discover its not working and that scrape we start to move into a new economics and really feel im hoping is that we can move that process along as fast as we can not just in scotland globally we have to understand tools that we used china deal with the truth in the name and financial crisis didnt really work then certainly not belong to them and were basically trying to. She used them again just now and it wouldnt be i fear and told me to realize thats not watching until someone says oh hold on a 2nd what we can actually try whats going to actually work we will come out of this being with a baby different economics than the ones that we were using when we went into it but the question is whether we are forced into a change or whether we recognize that that change is coming out we recognize it sooner rather than later so rob a copy when you say you fight the last wall in economic terms of you saying the long period of a status which followed the Great Recession of 2009 we have danger of another 10 years of a stab at the following the the great pandemic of 2020 this is not true 1009 this is much more like the brutally structuring that recording these went through and the 1980 certainly in britain so its more fundamental than just were going to have a standard its going to be either entire Industry Sectors which we have assumed will always be weapons in the form in which they are what and theyre not going to be like that in the future and again the question is do we realize this change is coming and she or do we pretend this change isnt coming i mean when i write. If i should put your finger on one aspect of the Recovery Program that youve proved forward which can both be on the beach it at least palliative to the economic problems on bring about long term restructuring what would it be in your program theres a lot of mythology around the National Debt and the deficit for it to bill seemed of the 2 julian day and national day it is actually owned by the bank of england i. E. By the government so the government can actually border a lot more to jumpstart the economy is serious shooters are viable mean doing the capacity and in the end of the d. S. Not being indian just not money. Never a mystery be that money has to be at sale and theres no chance of it causing inflation so theres more of motoring capacity and thames of printing money by the bank of england through various techniques and rob mcalpin a common weale. Fred much of the material is fascinating stuff but it was a thing time what chances of a few got of getting some of your ideas taken forward as policy i mean after all government understandably to some extent is totally a mess than the Health Crisis of the present moment very difficult to pick up some of the the blue sky thinking from common will support the chances of parts of your ideas coming forward as a program or i would really like to see happen as the concept of getting new dealing that could choose one radical thing to get going west its to see we dont really done a piece of work on how you read them you have to really need you for school and its actually the 1st and comprehensive cost of getting new deal anything in the world and one of the big problems is that it takes a while to get going so it takes the 40 years of lead time before you can actually really do anything which the fool parliament and we do this problem whereby the biggest barrier to it can you kill which people have got to understand is really just i think giving project and it was a lack of and people there was just wasnt enough people trained in the can a skill sets that we needed so well id really late the precious weve got this Human Capacity weve got this china global in financial need to do something you can do all of this and we switch to highly enterprising create jobs and really really start to move forward both in terms of the industrialised nation but also in terms of actually getting people into good wimpy jobs well we can ask this to see vision with some vision were going to go and do this theres no sign of that happening just. And. Really is something that were going to look back on in see my god why didnt we do something 6 months ago or finally dies the elections next year and skull than they did in wales will they actually help some of this new thinking to come forward will they concentrate the minds of the election approaches on the various path is or will they only show in tone really be over them the pandemic and squeeze out the the thinking for the future what do you think you have been for a few elections yourself absolutely i think theres going to be 3 issues all of which are complementary show them one is were well out with the pandemic secondly. Deal with the huge backlog shoojit backlog at the National Health service that will be there by the end on the other one preaches of equal importance the other is how do we deal with the unemployment level and theres a tsunami will have fitters by a day in a nice for these things are all important because weve got to operate on all 3 fronts simultaneously and what i would do is i would run a training in employment guarantee scheme for small and medium sized businesses to get people into work and into cheating immediately and they would give a very heavy a longer term subsidy on wheaties and Training Course over the next 2 or 3 years so that you build that bridge between coming out of the pandemic and getting back into normal times and if you dont build the bridge the problems going to gallo lost before it can get better so those are going to be the 3 priorities and i think the elation both of the whales under the scotland is going to be determined largely by how people and the parties respond to the pandemic the any chased by global the economy and in particular unemployment and business failure so often the cow fire in the common weal think tank independence a still the big fault line and scottish politics for. Lets just say for example that this guys conservatives play opponents of independence will suddenly to say see that common we have we like one of the policies will adopt a program would would commonwealth camilla would that be something you would have brass ode to say the way of conservatives banning gifts well absolutely work with anybody but i think youre right that the sleep problem weve go as that everything in scotland at the moment is still stuck with us and the paintings are not the fight because of this scale of this crisis because everyone realizes that some sort of bad guy actually is necessary and theres clear evidence in a number of Political Parties even the Scottish Labor Party is doing b r m poesy thinking nathan has been doing for ages theres lots happening this greens they seem ps membership is talking about these issues all over the place just and so what im kind of hoping for is that i dont expect the Political Leadership to lead those and to write the play be used during this campaign but i think i actually think theres a large public appetite and of many strong and chase at the grassroots of the previous Political Parties to see come on its time we did Something Different here some being in the wild some we are is going to be the country that gets it speaking about it to get some cuttings and get some bravery of. The scale of what were going to do and its good to try something and that country whatever that country ends and years to come were going to talk about that country model the something more it was the country that didnt both let the country that i think the country didnt crawl into its cupboards and sam just see lace through everyone elses doing and someones going to get that right and historys going to remember that countries the country the late others towards that age i passionately we should be scoping i have some you know of course that it could possibly be wheels but its not clear ill be peeling my eyes to the base of the wont because somebody is going to be to say yes i faintly someones going to read as if thats. And i continue to get this to someone who supported ruddock logic i am ready to be lead by anybody that loosely got a clue finally i dont know passable not longstanding campaign of and the panacea tiring of the election that should plan where youd be standing on the sidelines cheering on the independence cause we could be contributing to the debate and wed be edging to get back into the battle fairly brief how are you going to translate from being a professor of the election to being a bystander. Well im standing down from the parliament but im not retiring alec a i intend to be very active in a whole range of things new at least campian in for independence because the pandemic i think has sure a lot why we need to be independent for example it did a lot better if we were able to stop at the local in a much much erlend we did we could do that because we didnt have the control over the financial evils the things weve been talking about to date we can only do if youve got the pose of being an independent country so at the end of the d. D. Independence for me it remains a number one objective and a law will be in a different rule all still be working for independence well have a speedy Robin Calpine thank you so much for joining me on the alex aman show. Pleasure. Many governments particularly in the west are still struggling with the balance between the Health Consequences of suppressing corvet and the impact of the contagion itself over the course of this winter theyll be an increasing focus on the economy as the full impact of progressive love trains becomes apparent and the bills which have been accumulated come flooding through the fiscal lecture books the American Election will determine a great deal about the social direction of a deeply polarized society it is less clear that it will present a significant economic shift in direction the impact on the World Economy may have other lie in the approach of america to halt economic institutions and of course trade deals economic orthodoxy after the Great Depression of the 1930 s. Meant that it took a looming world war to direct the leading economies back to full capacity similarly after the Great Recession of 2009 overcautious Economic Policy produced a decade of a steady and falling Living Standards in many large countries however tough times certainly provoke new thinking and economies large and small the question is how quickly does creative thought translate into policy action the answer will determine locally im globally whether the world emerges blinking into postschool with sunlight or whether the blight of a pandemic is to placed by a prolonged economic darkness but for now for myself alex and all that issue its good bye stacey and we look forward to seeing you all again next week. Have you ever played high and low poker thats when the low head and the high hand. So weve got a situation in the Global Economy right now where in the currency markets various countries are trying to win with the worst possible hand to see how this works out. What. The. Hell you hope will be but there are also friends that the us. To do something. Which. Was one of those people. Going to put them on the back you know. France is set to reimpose a night time could the few as of saturday itll affect paris and the cities in the spiking you could be cases the point is the bar is expected to last right through to next summer. Says russia stepping up its bid 19 with a 2nd vaccine now registered against its already undergone 2 months of. Trials. 2 strikes obliterating everything in their path the altar and the benches and one of the domes have been completely destroyed our correspondent reports from the. Hostilities between armenia and azerbaijan continue