Voices in the military will see committee at the bank of england saying its not working yet well theres voices everywhere and now even some of the top x. Central Central Bank Governor was raising questions about q. E. In his announcement talked about the need for governments to do more expanding fiscal policy and thats a view thats becoming increasingly prevalent i think amongst Monetary Policy makers governments arent yet getting the message that we still havent seen expansion in fiscal policy to create demand in the economy that i think is so you need the roots of the response problem to what we have right now are the roots to be found in postings because. I know youve been writing about the fact that we keep emphasizing Household Spending rather than innovation and progress and the fact that money supply may not be the most important thing here it may be moved. The allocation is still in for the Chinese Communist but the way it is yes i think that is exactly the problem there isnt really a supply story problem theres a demand side problem the demand is coming from speculative speculative type demand so theres lots of them on from households to get mortgages to buy houses house prices keep going on as demand from investors to buy Financial Assets but there isnt enough them on from businesses to invest in innovation in Capital Investment paying wages is a group thing we think that Small Businesses big corporations they will be investing thinking its all about the private sector and theyll do it yeah i think it is about to do that i think the theory of quantitative easing is basically that if the central bank the safe assets the Government Back on the some of the Corporate Bonds that are held by Institutional Investors there is Institutional Investors will then own sort in risky of bones from the real economy from medium sized and those firms will then use that money to invest in Capital Investment productive activity in reality where there isnt enough demand in the economy and what youve seen is those investors just buying other types of Financial Assets buying up real estate in Capital Cities around the world which is. Flat exactly which is why youre getting people called by barks lots anymore im not just in london the us and european cities as well increasingly this is the religious this great faith because the economists about that is the private sector so part of it i think is a lack of confidence in the potential of the state in the potential of government to actually do useful stuff to actually direct the economy in a way that is socially desirable you know what we need is a kind of Green New Deal approach for example where we look to create a decent well paid job. In the sectors where we actually really need new jobs saving is the middle energy because if the data shows i think you. Weve had since the thirtys it has been the state that hasnt really the guess or the evidence suggests that actually when Central Banks and ministries of finance collaborate and coordinate their activities where the government says were going to do this big expansion in infrastructure were going to spend this on r. And b. And the central bank finances support financing through its Monetary Policy has credit guidance policies that direct lending into those sectors most needed then you tend to have more successful outcomes not everywhere of course theres always exceptions theres always those involved ways and you will south american failed states but in countries with mature institutions and democracies thats not generally the case well they know they even lie about Interest Rate in the city of london as we know for a reliable until say a german coal wouldnt government so thats nationalizing everything and Green New Deal. Policy doesnt look likely to change given what easy we did do you think it may be at the loose local level that people can start creating recreating in the economy say with the brixton pound which we have to explain yeah yeah i think we should certainly be encouraging local and regional efforts to get more control over economies i think what we really do need actually is more regional banks actually say banks hes focus is not the world as we have in the u. K. And big banks tend to want to make big loans they dont tend to want to support for example Small Businesses transaction costs are just too high the risks are too high theyd much rather make big planes with. As the backing is the collateral but actually in the act that doesnt help create a more productive economy it just drives house prices so so i think we need to you know the german model is quite a good one they have a big state investment. Bank the k f w sitting behind regional public banks that actually then lend to assamese and middle sized companies to support innovation to support new kinds of products so that would be a more interesting model in scotland to have just as Scottish NationalInvestment Bank we had voiced nicholas sturgeon on actually there are p. P. England the u. K. Doesnt have such an institution actually one of the few advanced economies where we dont have a big state Investment Bank or shrunk on thank you well in the United States 2020 democrat president ial contender tools are gathered holds a town hall today in iowa after the d. N. C. Refused to allow her to thursdays debate in texas not one mention of President Trump firing his 3rd National Security adviser john bolton was made at the democrat debate but joining me now via skype from california is former senator and twice u. S. President ial candidate mike gravel senator thanks very cutting back on the show so youve called it wonderful news for a safer world what do you make of her d. N. C. Media are already criticizing dont jump for sacking john bolton as the 27 National Security adviser Joe Scarborough on m. S. N. We see owned by the same owners of c. N. N. And sky news backers of biden and warrigal saying you know bolton wouldnt cozy up to americas enemies like the president would thats why he went its an embarrassment of democratic leadership it really. Was probably the most significant warmonger in recent history and should be able to give him many kudos when he was fired and yes fired not resigned and saying that. His image for quite a while because walter was on the verge of creating. Is responsible for. George bush. And china cannot force north korea in seoul and when he was appointed boy it was a view very test mix it as a mystic situation where now the least fire is going to limit the possibility of donald trump setting off a war by accident he will do it on purpose hes not only a warmer a shot a lot of other problems but thats not one of them and sold it the democrats would wish for and theres like i say its worse in the bearish religious shows you that the likelihood that by then you get selected or a conventional democrat gets elected were going to be able to see the same ole same ole where democrats are just as interested in the warm as republicans because bolton is a popular around the world we have mike flynn his predecessor on this show actually didnt seem to want to war on russia so youre saying theyre basically we should be more confident the Trump White House wouldnt want to go to war with well there is an economic war already against Venezuela Iran cuba syria russia you think that were in safe i have well i think we are very safe when you say he is a war just of course of the sanctions are kind of war that killed just as many people as the violent wars. But now of this is our trumps to make a deal with anybody it is ridiculous theres no we have no right to go sanction anybody. But bolton was it 10 initiating a war and the fact that hes no longer there and pompei o is just there and then t. Shirt and youll see. And you and it seemed trump wants but the land is a trump going to war. And. Personally to putin is should be applauded and also that north korea mention the democrats anyone who despise john bolton as National Security adviser they shouldnt think that joe biden. Or maybe i dont know maybe even Elizabeth Warren let alone kemal arris of the democrats for the 2020 their elections necessarily will be different on Foreign Policy when it comes to wars. I grew totally i think to the only change we have to end the decent form of it is for early senatorship elected and tosi ever to be selected as Vice President then will be kerry and he to reverse the course of our desire to be an inquirer youve shut down your 2020 campaign and as you said youre endorsing money saunders for the president of the elections next year we know from wiki leaks what the democrats did to try and destroy Bernie Sanders chances last time around in favor of Hillary Clinton youre still supporting Bernie Sanders now but you know think the d. N. C. Is going to do the same thing so yes they try i dont love to be successful but douche no question but the leadership in their own party is not supporting Bernie Sanders and also told she cared because both of them represent. And maybe it was you schechter that mills who just your complex and i know it was she ever going to try and stay in from the base and she was she was she did the process just the way they shoot me when we get there and she has to say the proper number of donors. Over. 1200. What happened to her happened to me is that they didnt put my name make sure my need peer in a number of polls of another can you have a c. Its not a good draw was about all d. N. C. Parts im just going to briefly ask you given the announcement from netanyahu about the annexation of yet more land illegally under International LawBernie Sanders is tweeted against israel for the proposed further an accession of the west bank do you think you expect c. N. N. s n. B. C. Talking heads that alone d. N. C. The establishment clintonite obama right type people to accuse him of antisemitism. No because it bernie is jewish and so you shouldnt use him and he should not sell anything that would even be close to an absolute as in the course when youre talking about you know youre talking about one of the 8 goals in the whole. Leaders. Prayer but i just. Loses the election and the end of you know because the persecution and the crimes that. He is coming back but the 1st. And i hope so that was a thank you after the break did Boris Johnson oversee the slashing of resources dedicated to tackling the greatest threat to Climate Change while serving as britains top diplomat we speak to the man who was his chief environmental advisor to david came. Through going to grow. Heres a thought experiment and a bit of a prediction for 2020 going back to saudi aramco around town as it went public just recently at a market valuation an excess of 1. 00 trillion dollars i think i want pointless war 2 trillion dollars i think that were going to see them make a hostile buy of a Company Maybe facebook for example and it could be the 1st trillion dollar possible raid in history because theyve got the Balance Sheet now if youve got a 2 trillion dollars Balance Sheet that means youve got you know the ability to borrow another trillion so youve got a 3 trillion dollar war chest if you go after an apple or even a Berkshire Hathaway 5 or 600000000000. 00 so i went inside. The way just as a hostile trade and then they all. Huge portion of the whole Global Market the American Market why not theyve got the Balance Sheet now they want to diversify away from oil and gas and i think were going to see a move like that the next 6 to 9 months. Join me every thursday on the alex salmond shill and ill be speaking to us of the world of politics or business im show business ill see you then. 6 this is nothing but the harmony can create on vibrating strings that is chemistry chemistry is the melody the melodies you can play on strings what is the universe the universe is a symphony of strings. Welcome back this week scotlands highest court ruled Boris Johnson unlawfully shut down Britains Parliament on tuesday the u. K. Supreme court will scrutinize whether the new Prime Minister misled the queen will be johnson as previous when it comes to preventing scrutiny over nothing less than global catastrophe johnsons former advisor and u. K. Special representative for Climate Change david king joins me now david welcome to going underground so im going to say surely just with that when you go to center for climate repair in cambridge operating time just celebrate britain is the 1st country in the world to declare a Climate Emergency. Does britain have reason to be proud about self well i think britain has been playing a leadership role in action on Climate Change since the year 2000 and believe its fair to say without britains actions the Paris Agreement in 2015 wouldnt have happened just to back it up. I was chief scientific adviser with blair from 2000 for 8 years and subsequently i was brought back into government by cameron during the Coalition Government period i was given 165 climate it has been embassies around the world you know the country had full time to test these a climate always in different diplomatic outposts hearing this for the best was literally around the world but we could move them around so i signed 3 agreements with china for example and we moved 22. 00 climate attaches into our embassy in china and the like only talk to get china is in the middle of expanding one of the biggest Environmental Programs in World History but they dont look about you as being 20 blair favors for the iraq war all the rest of it not as a loon for not environmentally as my reputation in china in many african countries in india i would say is very very high people listen to Scientists Say blair and Cameron Cameron of course famously who posed with the huskies to election the body they would you pay tribute to both of those early deciders with the environment and then comes may and this is what youre referring to the Prime Minister may says britain will not only reduce its emissions by 80 percent by 2050 but we will head for a net 0 emissions by mid century 1st country in the world to state that and then we have this statement we have a Climate Emergency absolutely right. I would say we need to be very very worried about the future of humanity if we dont get a grip on the state of Climate Change as it is today and of course you mention those on voices and you are on the record as saying the board strong didnt know when he was foreign secretary about the fact that most of them with and fiat we lost not try it we lost. Climate hashis during Boris Johnsons period is foreign secretary although it was the head of the Diplomatic Service who did this when i saw him he said he didnt even know this had happened the reason im saying they went 5 they were redeployed which is the Biggest Department in the British Government today. Suddenly youve got a department soaking up people from other ministries who from Climate Change will when discussing important things with their counterparts in the embassies around the world going into brics that that is what happened to be done little saying they went absolutely pairing for it yet no deal yet. Thats not to say that Boris Johnson did you knew that he knew that this was happening and to stand i mean he is on the record and said he said good god i didnt know that when you told him that theyd be redeployed well i think i think the real question is and i have another interaction with the Prime Minister in his role as mayor a few weeks into his period as mayor he called me and asked me to Carry Commission into the future of the Thames Es