This is real money and you are part of the show. Joint the conversation is the five years after a worldwide economic downturn the risk of financial implosion to america and the globe subsided. In our interconnected world there are growing Political Risks that can damage your posterity. Here are three you need to Pay Attention to the escalatining crisis of russia with the ukraine appears to pull it into recession, if it happens, its not clear that it will, it will be felt beyond that country. Investors are pulling as much as 70 billion out of the country as fears of sanctions set in. Russia today is the secondlargest exporter of natural gas in the world, and, number three, when it comes to oil. Russia is not the only threat to the global economy. Mass protests by growing and assertive middle classes in venezuela, turkey and brazil is challenging the order. The unrest led to currency controls and emergency Interest Rate hikes, moves that make markets jittery. Each country has challenges, but many investors dont make the distinction, so they are pulling out all merging market money in response. Why should you care . Mutual funds you invest in through the 401 ksers invest invested in the markets. China may pose big challenges, how Economic Reforms play out in the secondlargest economy will be felt here in america and the rest of the world. Chinas communist leaders have taken a decision to loosen coal on the economy. Its a gamble that will unleash Market Forces transforming china from a trade fuelled by exports to one hinging on the consumer. China has grown as it reengineers its economy. All the challenges detailed in a report by Political Risk firm urasha group, washing with multinational corporations and government agencies. I asked its president , ian bremer, whether this is the beginning of the end of chinas growth spurt. We are seeing the end of the period of statefixed investment in infrastructure driving the growth. Theres real economic reform happening. Its transforming that society towards being focussed on consumption. It is important to do. Its critical if they want to become an advanced economy, but its dangerous, because it means taking money away from inefficient state and enterprise, taking control away of the financial sector, allowing bankruptcy, meaning powerful people are losers. And that meanings president jiangxi may have pushback. Therell be risk in the kind of outside. Is there a cost if chinas economy goes down, maybe theyll west. Thats little cost. Certainly youre not going see purchasing of commodities. Things like copper and steel that they dont need like they used to. The level of growth, the reduction is modest. Its been very incremental. The risk is that the experiment doesnt work and the response is lets throw it out, well have a hardline national response, because thats the only way to stay in power, or we see a serious program because they cant complaint stability. No one wants to be the first person complaining in the system. We know what happens to them. If we start to see large political classes saying we dont like the changes, its a ago. Lets take a tour around the world. So many places where theres economic turmoil theres a political route argentina, venezuela, turkey. If we take a bunch of emerging markets and actions they have taken to support currencies or quell anxiety in markets that it becomes an emerging problem around the world. Its not a containon, the problem is not the class of emerging markets, its when you look at them many are badly governed and 2014, 34 emerging markets are having election, greater than we have seen since the financial crisis. Not surprising theres head winds. Economists say great, we can sell them more tough, economists like me say, those are folks that are demanding of leaders, and some leaders are not capable or prepared to provide it. Argentina, venezuela, thailand you can add and turkey growth is underperforming. In many cases growing slower than we expect. United states in 2014, because governance is that. Why invest in russia, which is risky, if you are not going to get the growth that you get from the u. S. . A lot of folks are taking cash out. Speaking of russia, i dont think theres anybody left in america who doesnt think its important. You call it geopolitically the biggest thing since 9 11. The level of concern of the crisis between u. S. , europe and russia the sanctions putting on board, the calls that we must isolate the russians if they dont back down. Let me tell you, they are not backing down. Ukraine is the most important interest that russia has outside of its country. Vladimir putins approval is over 80 , spiking 20 since the crisis has gone on. Theyll put sanctions on the back. With the natural gas. First with reciprocal sanctions against the americans, if the europeans join america, they are very exposed, the russians will cut off the gas, meaning they wont support the u. S. The danger is russia and u. S. Has a fractured relationship. America is seen as setting a red line and stepping back, as with syria. And the europeans are caught in tweent. Not a Good Environment for the europe yeens, horrible for the russian market and 43 million ukrainians miss out. Thank you for being with us, and founder of eurasia group. Two settlelets for bank of america. Theyll pay 9. 3 billion for fanny may and freddy mack in selling faulting with bonds in the run up to the housing collapse, larger than jpmorgans 1. 3 billion. The other, holding a c. E. O. Accountable. Former c. E. O. Will pay 10 million because of his role in the acquisition of merrill lynch. That saved merrill from bankruptcy, but louis and his team allegedly misled shareholders to approved the 50 million buyout. Next the double edge sword that is americas job boom, but created problems. In cities like new york you have layers of pipeline from water, to electric. It makes it expensive to remove and replace natural gas lines. Nor on the gas lines. Later the tragedy that changed the work place. Im talking about laws that keep you healthy on the job. Coming up in real money. On Al Jazeera America techknow our experts take you beyond the lab theres about five million points of data and explore the Technology Changing our world. Only on Al Jazeera America the stream is uniquely interactive television. We depend on you, you are one of the voices of this show. So join the conversation and make it your own. The stream. On Al Jazeera America and join the conversation online ajamstream. Americas energy boom is having a profound effect on the economy. Millions of jobs are being created. We have more evidence from the census bureau, showing employment in the oil and gas industry is up 23 since 2007. The benefits are rippling beyond the oil field. Juction workers, health care, food serve e a handful of 20,000 workers needed in north dakota, with the oil boom generating more jobs than they can field, state officials are teaming up with private industry though launch a Recruitment Campaign the goal to lure the unemployed to the boom town with six figure salaries, far from unusual. With a nation producing 2. 7 billion barrels of crude oil, the jobs extend beyond the plains. In the states where Oil Production is on the rise, so is the demand for workers, they are well paid. The median pay for oil and gas workers is about 56,000 compared to the median wage of 32,000. Among the highest paid, Petroleum Engineers with a salary of 130,000 a year. They are in high demand with job openings growing as much as 26 in the next decade. Also in demand mechanical engineers at 80,000, at 73,000. Welders and fitters. It goes on. Proving the oil boom is a job boom coast to coast. Business is booming if you are producing or selling natural gas. The crumbling infrastructure is not keeping up. It was made clear in east harr them when an explosion levelled two Apartment Buildings and killed eight. It exposed a hidden danger below the surface. Old pipelines prone to leaks. Fixing the problem will cost decades. Fred, a real estate executive in manhattan. The choice of whether to convert this upper mid side Apartment Building from gas to natural gas seemed obvious lower costs, cleaner energy sealed the deal. He made the switch had the a cost of 3 million. This building has achieved a 47 savings by converting by no. 6 fuel oil to gas. With a boom driving down the price of natural gas, many businesses and governments are looking to make the switch. From what we have seen and the request to convert buildings its the wait of the building. Places like pennsylvania, they are brought more gas online, reducing price. If not for the additional pipeline we wouldnt have been able to. Eds decision was financial, his ability depended on infrastructure, and switching can pose problems in cities like boston, philadelphia, and new york, where the pipelines date back to the turn of the last century. New york city has a lot of castiron pipes, likely to leak than newer piping. Thats a safety concern in a conversion to natural gas. One spark is all it takes for an explosion after the surrounding air is filled with 5 of natural gas, and 6,000 miles of pipelines run beneath new york city, half installed before 1940 when cast iron and unprotected steel were the order of the day. If we invest in natural gas in this country, we have to reduce the leeks through the pipeline system. The problem is cost. In big cities like new york theres layers of underground pipeline from watermains, phone, electric, making for a muddled and extensive process of removing gas lines. It costs in manhattan about 2,000 a foot. When you get to rural areas it drops to 300. Conedson says replacing all gas mains could take decades and cost 10 million. Other cities may be in worse shapes. Efforts to replace lines could take 80 years, according to Robert Jackson from stanford and duke university. In baltimore, twice that time. Without the upgrades soon, analysts say the emphasis an gas may bring more incidents like what happened in east harlem. Investigators say the ruptured main was 125 years old. Most americans have no idea what its like to work in a sweat shop. Theres a reason for that. The triangle shirt waste fire, why it matters to you, the american worker. They are amateur athletes. One day we could call them Something Else union men. More on what could be a landmark labour ruling coming up. Consider this the news of the day plus so much more. We begin with the government shutdown. Answers to the questions no one else will ask. It seems like they cant agree to anything in washington no matter what. Antonio mora, Award Winning and hard hitting. Weve heard you talk about the history of suicide in your family. Theres no status quo, just the bottom line. But, what about buying shares in a professional athlete . Real perspective, consider this on Al Jazeera America last week we marked an anniversary that changed the history of workers safetiy lawyers. 150 years ago a fire broke out in a new york city sweat shot that took 126 lives, the triangle shirt waste factory in Greenwich Village on march 25th, 1927. Fire fighters rushed to the scene and were unable to rescue scores of mostly immigrant women and girls. The reason, doors locked to prevent girls taking breaks or stealing. They were burnt alive, suffocated or died trying to escape out the windows. The tragic waste of life caused outrage. It was preventible. Safety precautions existed but were not the law. Many businesses opposed them. In years that followed the fire, new york and others passed lawyers requiring mandatory fire drills and unlocked doors. Officials say it was a turning point that led to child labour law and other reforms making working in america safer. We live in an age where businesses complain about what they call needless over site. Many mirroring those made by businesses 103 years ago today. Thats the point of a Huffington Post article with a head line have we forgotten the triangular fire, it was authored by don, belonging to a group wanting reform. I asked if it changed continues in factories . Thats right. Its a standard story, disasters create change, and people have to die to do that. The Real Estate Industry in new york, factory openers in new york opposed regulations or standards for basic things like fire escapes, sprinklers, open doors, and fought them for several years after the fire. Ultimately you in your article lay out well how pressure was maintained and laws came into place. What are some things that we take for granted as Workplace Safety laws that evolved from the movement to change things for workers . Starting from building safety, we have mandatory fire safety codes, sprinklers. Things like that. In the Garment Industry we have outlawed and saved lives of workers that suffer brown death or lung disease. Coal mines too many die on the job are far safer than they were basis a consistently steady stream of new and stronger laws. Theres lots of things we take for granted in work place safety and consumer protections. A few years ago we had another coal mine incident where it was found that they had broken regulation, ignored regulations and there tends to be resistance when companies are making lots of money to say lets create the safest environment for our workers, there are people in washington who are pushing back on safe. When you tack about regulation, its an abstraction. Its important to talk about what is at stake and what is going on. If a coal miner dies because the mine collapsed because of unsafe conditions or there was an explosion because of coal dust not taken care of or unsafe equipment, thats the responsibility of the owner to deal with that, and its the responsibility of the government to set laws so that we make sure everything that goes to work comes home safe. Unfortunately, as you say, owners of the industry claim theyll take care of it, theyll produce its in their interest to have a safe workplace, Historical Records show too many die and laws are necessary to protect folks and create a level Playing Field so good employers will not suffer a disadvantage in the marketplace. Thank you for your article. I hope everyone reads it on the Huffington Post. College athletes may be a step closer to getting paid to play. A Regional Office ruled Football Players at Northwestern University can create the countrys first union of college athletes. The push led by quarterback kain colt rer who argued the hours he and his teammates devoted to football and the millions they earnt the University Made them employees. The n. C. A. A. And the big 10 conference opposed the drive. Northwestern university plans to appeal. Its that time of year, millions of americans have taxes on the brain, and so do crooks. The ir s is warning scam. Thieves pose as ira officials, tell people they own money and demand immediate payment. Tax fraud related to Identity Theft is a problem, one that costs billions. Marie snow has that storey. Ian mckenneys nightmare started with a burst of excitement when she received a tax refund of 6,000. Im saying 6,000. It was a scam. Mckenney, living in massachusetts learnt her identity was stolen and information used to file a phone yoi fax return phoney tax return. The refund was sent to her home, rather than the people that filed her frujulent return. My concern was has someone in the area doing this or someone waiting for a while. What else do they do, do i have other surprises. One surprise is how extensive tax fraud is, something prosecutors in georgia learnt first hand. They uncovered a scheme where two young men used stolen Social Security numbers, including that returns. The truth is thats not what we were expecting or the defendants were expecting. They had no idea that the attorneygeneral was among the group of people whose identities they had purchased. Prosecutors say the defendants brought stolen identities on the black market, used it to pose as taxpayers and filed as many returns as possible. The goal is such get refunds without being detected. There are indicators that folks who are engaged in common forms of theft turn to this type of Identity Theft. Fighting the schemes is a top priority for the irs. An irs Watchdog Group says while deduction improved. Billions of fraudulent returns continue to be paid. In a recent audit the treasury Inspector General estimated the irs paid out there 3. 6 billion in fraudulent returns in 2011, down from 5. 2 billion the year before. The irs says its adding resources to combat fraud, assigning 3,000 employees work on fraud and help victims, and is training 35,000 workers to help taxpayers spot red flags. The help cant come soon enough for ann mckenney, saying it could take six months. Shes alerted police, credit agencies and companies. The burden will be on her to prove who she is. The week ahead is busy on the show. We have an obamacare deadline. We hear from the Federal Reserve chief janet yellen, and a huge jobs report revealing how the economy is holding up. Next week on real money. Pm eastern time. Thats our show, im ali velshi, thanks for joining us. Have a great weekend. Hello, im richard gisberg, and you are at the listening post, this week Recep Tayyip Erdogan bans twitter, and the twitter arty fight back. The pakistani issue of the new york times, with some of the news fit to print. The media in hong kong