An extra blade but fatalistically and we see this time and time again so the us. At any moment they could get off this path in the camp of walking into the buzz saw that make conceivably but fate is drawing them to the blade you know we had Aristotle Plato socrates they understood the man right they understood what tribes us and we always tried to the buzz saw thats the way powerful people are powerful nations do it they just go straight into the buzzsaw theres no other option they can just like kindly walk off the stage you know its just goes into the but is cyclical nature of nature is one that can be dramatize stand in the case of humans they typically will be drawn to fatalistic and unnecessarily and thats what makes a tragic speaking of tragic just look at that chart this is our deficit numbers plunging here it is the deficit serves the us record it is widest budget deficit in fiscal 2020. Since the 2nd world war that was a child she was what she was a massive global tragedy at th
Any. To. The max kaiser. For many years now weve been saying that a new Bretton Woods is inevitable. And this past week that i may have said exactly the same thing a new private words is coming oh boy stacy whats going well so many people and so much media has focused on the clown car show happening in the us elections that they kind of overlooked this whole i. M. F. Is calling for a new Bretton Woods which of course would be seismic it would coincide with the 50 Year Anniversary and 2021 is a 50 Year Anniversary of the us Dollar Standard remember we went off the Gold Standard temporarily and august of 1971 Richard Nixon said there were close in the gold window just temporarily until they could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through
They could default on their debts to england and of course 50 years later were still defaulting on the debts but we could be seeing a new Bretton Woods who knows whats going to happen but youre talking to simon dixon in the 2nd half about that in the meantime you know really whats going on is that through cities trap that weve talked about which is the rising power china always ends up in conflict with the decline in power which is the United States in the situation we certainly see that heating out and you see that however even in the attitudes of people around the world here is a chart which is worlds leading economic power this question was asked to people in advanced economies around the world and among advanced economy publics 48 percent thought china was the number one power 35 percent thought the u. S. And amongst germans it was 55 percent china as a leading power and 17 percent of the u. S. And this is unfathomable a low says adam to use this idea of the 3 cities trap you know
With the pandemic, so different in america. Francine im sorry, tom, you cannot forget about brexit. Almost there, and certainly by next monday, london will have moved to tier two, which is where you can still meet people outside but you cannot let people come into your home. We should have a better idea of what london will become over the next couple weeks. Is similar moved by the french president , emmanuel macron, announcing that eight cities will go in lockdown. That is hurting a lot of the stocks. Go, there are eight ways to and just because there is compressed time, are the chancellor of the exchequer and the Prime Minister on the same page . Francine they are on the same page, but we heard from the london mayor, who is from the labor party, and the opposition leader, asking for a national lockdown. We call it the circuit breaker. The idea is for two weeks we go back in lockdown so that the cases go down. This is not what the Prime Minister wants to do, but we also know that the l
And it is fundamentally changing societies, economies, and countries. Today we are here to understand the true impact, which is particularly devastating to developing countries and the most vulnerable communities women, youth, the elderly, and migrants. Most importantly, we are here to find innovative solutions. This the focus of the World Bank Annual meeting, which takes place starting the week of october 12 and convenience Global Leaders from governments, as mrs. , and civil society. Businesses, and civil societies. We will hear from the World Bank President on what it will take to tackle the crisis, and how we can turn this into an opportunity to build a path towards a resilient and inclusive recovery. He will be joined in the president ith of the Stanford School of finance and management. President ar from the of the bank joining us from his office. He has been president of the german centralbank since may 2011. He is a member of the governing council of the ecb, represents germany