Transcripts For ALJAZAM Real Money With Ali Velshi 20140724

This is real money, and you are the most important part of the show. Tell me what is on your mind by tweeting and facebook. The u. S. Government is finally proposing new safety rules for transporting crude oil and other dangerous liquids by rail. More than a year after 47 people died in a devastating training derailment explosion and fire in canada. That accident along with others underscored a dangerous side effect of the american oil boom, specifically the hazards of the crude from north dakota area. Today they proposed phases oat older oil tankers within two years, unless fixed to meet new design standards, and it may include thicker steal to help avoid punk tours. Better braking systems, reduced speeds and testing of oil and other volatile liquids. Remember, these are proposals, and the public and industry have 60 days to comment. The final rules are expected to come into effect next year. Critics say it will take more than two years to replace or retrofit tens of thousands of cars that dominate the industry. It also was said that oil from the backin imposes a higher risk. The call for accidents increased calls for tougher regulation. Reporter a massive blaze starting in an oil supply extinguished. It broke out monday, sending smoke that the air, so thick that it forced flight restrictions at a nearby airport. While its not clear what started the fire, the incident is the latest in a series of mishams in bokkan crude oil, considered flammable and prone to explosions. As the u. S. Pumps oil from north dakota problems with transporting that crude have grown increasingly visible. Last year in july a 74car freight can derailed in a quebec town lacmegantic. It killed 47 people and destroyed 30 people in the town center. In november a 90car Freight Train carrying north dakota crude exploded in piggins county. No one suffered injuries, but 11 cars burnt to a crisp. In december a 110car Freight Train in north dakota carrying order from back and shield derailed near castleden, causing a fireball causing authorities to evacuate resident from their home. In april, an oil train derailed and burst into flames in lynch burg virginia. Oil by rail is not only hazardous but more expensive than pipelines. The extra oil has to be moved. Rail has been picking up the slack. The transport of oil by rail jumped more than 44 in the summer months of 2013, compared to a year earlier, according to the association of American Rail roads. U. S. Rail roads transport 10 of output, or 800,000 barrels per day. All that has started to overwhelm smaller branch lines, which are not as well maintained as the older ones. This weeks proposed rules by regulators to use stronger tank cars requires transporters to increased shieldings and build crashresistant valves. Its long overdue. The ray road petitioned the government to raise standards three years ago. We asked to have the dot 111s faezed out or rhett re fitted. As the u. S. Ratchets up oil production, some say the nation may have to go further and rething how it gets the oil to market. In a couple of minutes i talk to an Energy Expert who calls oil by rail a weapon of the mass destruction. General motors set a record for total cars recalled in a year. The automaker today recalling six more models. More than 700,000 vehicles will be pulled to the dealerships. Problems found with seats, turn signals and roof carriers, two crashes and three injuries resulted from the defects. The recall brings the total to 60, covering almost 30 million vehicles. Plane crashes in taiwan and ukraine and a ban on sites to israel what impact that could have if you plan a trip. The new phase of poverty in america. Its not the urban court any more. On Al Jazeera America presents we always have strikes. People should never be allowed. What started as a peaceful protest police seem to stick to the selfdefense story became a horrific moment in South African history i dont think any organization in this country would ever anticipate this type of violence what really happened that tragic day . It is the time to point finger at those whose fingers pulled the trigger al at the start of the show we told you how the u. S. Government is proposing safety rules for transporting crude by rail. It includes phasing out old tanks, better braking systems, reduced speed and more testing of oil. Steven shark is a founder and editor. A widely read, and called oil by rail a weapon of mass instruction. Thank you for coming in steven. Thank you. What do you think of the regulations and the rules. Do you think they go far enough. I think they are a step in the right direction. Much needed and welcome sign to the industry. We are looking at a marketplace thats grown from shipping oil via rail from 10,000 railcars to remember. We are just past the one Year Anniversary of a tragedy in queb ebbing when 50 quebec when 50 were killed when a train broke from the rails. It is, indeed, a weapon of mass destruction, be it with a human error or god forbid terrorist activity. Any step to make it safer is a welcome sign. Is this a case of ratcheting up with the explosive growth that you are talking about. Have they caught up enough or behind . This is typical government. The market leads into a direction. Five years ago, if anyone told you that the United States would have been energy dependent or independent, and the only country we would theoretically have to import oil, that was not on the radar. It ha tremendous growth and will continue to grow. Im happy that the government is responding. This is what the government does, its not proactive, it responds to the noods, and they are for the needs, and they are for the safer transport of oil. We look at the explosive growth taking place in canada, north dakota. That is great oil. Its not where we needed to be. We need the oil to be at the refinery on the east, west and gulf coast, not just for our own consumption, but what will be a burgening export market for crude oil. Getting it there. Would it be safer to send it through pipe lines. They are cheeper. There has been a lot of pushback. If it continues, will it be headed can we get there . I like to use the analogy of the rocker fellows, when shipping his kerosene out of ohio through the rails. That was the conduit. He decided to strike a part, and the vaneder belts raised the rates. He wept around and built his own pipelines. Thats where we are at. The growth is the cheaper more efficient option this way, because of the political ramifications with trying to get the keystone xl pipeline built. That is pipelines being a safer, cheaper more efficient method to go about, but its a political hot potato, the rails are the answer. The problem, jen, is we are producing so much the existing Pipeline Capacity cant handle it. We are trying to get the oil out any which way we can, and it has to be to the export markets. We have made progress in increasing the flow and building fluid. Well have to jump. Go. The founder and editor of the shark report. Thank you. Thank you. At least 47 people are feared dead after a transasia aircraft crashed whilst trying to make a lapping in stormy landing in Stormy Weather off the coast of taiwan, just the latest to add to the anxiety of flying. The federal Aviation Authority extended a ban to and from israel. The agency is working with the Israeli Government to determine whether safety concerns have been resolved. A rocket fired from gaza landed a mile centre their airport. Maybe airlines stopped flying over Eastern Ukraine following the Malaysia Airlines crash. Prorussian separatists shot down two ukranian fighter jets, not far from where mh17 was shot down. Lets get the industry perspective of what this means for flyers and airlines. A consultant from pj group says it will Cost Airlines and customers, because longer flights mean airlines use more fuel, and forecasts this will lead to higher ticket prices. Thank you so much. Good evening. Do you think it will come down to consumers, regular people, that ill have higher prices because of everything we have seen in the past two weeks . Theres no question that this will inevitably come out of the check books and pocket books of the businesses and the consumers who use airlines all over the world. All you have to do is look at the two losses that malaysia air suffered in four months. They lost two airplanes that cost 260 million each, theres a billion of coverage, of liability from the insurers there. That 2. 5 billion, the losses from the one airline will come back to all the airlines, you can be certain it will be passed on by the airlines in the form of higher ticket prices. This is not the first time we had a number of airline tragedies. What does history tell us in terms of what entries we can see premiums. As an industry, we are all obviously shocked and horrified as everyone else is that malaysia would lose two of the airplanes. And all of the lives on board in a short period of time. The recent example that we turn to to see what will happen to insurance and the airlines is inch. After 9 11 we saw the insurance rates for the airline go from under 2 billion to roughly 5 billion. A 3 billion increase in a year. Now, thats one part of the story. But then an idea of having to go around some conflict zones seen happening over ukraine. Obviously those are smaller numbers, do they add up to get transferred down to consumers in terms of fuel cost or is it a small shift and not a big deal . Not at all. Not only are the airlines worried about flying over ukraine and into israel and the loss of the plights and the lose of that revenue. Ukraine is the same size as texas, and flying around that requires added fuel, added labour costs from the pilots and flight attend sans, and airlines choose the aircraft that per going to fly specifically for their routes. When you add an hour or an hour and a half of flying, not only does it have to look at changing equipment, but you have misconnections, you have flight times that no longer work within timetables. On the Global Airline system youll see a reroute. Ukraine is smack dab in the middle of the european to Southeast Asian flit route. Its route 980. Connecting places like hong kong and london. Major economic engines of the planet. But the concern that i have is that now we have the issue in ukraine and tel aviv, what happiness the next time theres an act of military violence in some other part of the country, does that mean well no longer be able to fly to brazil because america. It is very interesting. President of pos group. Thank you for giving us perspective on what is going on in the industry. Thank you. Up next poverty rises during tough economic times. You may be surprised where it not surprisingly the recession caused rates to soar. The shock is the suburbs. Numbers of lower income individuals and immigrants moving to the suburbs the population of poor residents living in the burs has reached 16. 65 million, outnumbering those in cities by 3 million. Its a gap that continues to grow each day. Robert ray takes us to an epicentre of the paradigm shift. The idyllic suburbs display the calm you would expect. Amidst the neighbourhoods is a stark reality years in the making poverty. The types of things surprising someone that lives in suburbia. If they drove a few blocks over, theyd see a different view of the world. Reporter the number of atlantic residents living under the poverty line has grown 159 offer the last decade, with 88 of the metro areas poor population living outside the city limits, hidden away in pockets of run down houses and mobile home communities. More and more people coming to us for the first time, people that have not experienced do. Kay and chris work at must ministries, one of a handful of charities that serve the poor. Must office food, shelter, Employment Services and even a summer lump programme for children in need. Groups like must struggled to keep up with a rapidly increasing demand for their services. That is completely unlike their counterparts in the cities that service the urban poor. The new safety net here in the suburbs, which is patchy and thin at best is at a point. Our approval has gone 37,000, from 97,000 meals to 247 last year, and we are scratching the surface. Suburban atlanta is not alone. Between 2000 and 2012 every metropolitan area from the rust belt to sun belt. And tech areas saw increases in the suburban poor, rising 65 nationwide, more than twice the pace of growth in cities. I think we have had a traditional view of poverty that it may be an alcoholic under the bridge. And the thing that is so important for people to realise is that people that look like each of us, and who have experienced many of the same things we experienced. As perception of suburban poverty lagged, so has the funding. Groups like must in atlanta suburbs get 2 in grant money per poor person, compared with 72 awarded to city counterparts. Suburbs have had a great deal of challenge trying to track the fund to build capacity. Elizabeth knooeb own ace much of what drew people to the suburbs, Affordable Homes and middle class drugs became driving factors of poverty after the collapse in the wake of the financial crisis. 94 of foreclosures happened. They are facing shifts. Middle age jobs were lost. We are seeing the living here for a family of two with two children at 17 an hour. Hour. Beth works in Employment Services at must, and says most of her clientele are Older Workers like ken, a former truck driver for 20 years, who fell out of work when his company shot down. Unable to aforward car payments, he faced a major challenge affecting the poor. Navigating the suburban sprawl using a limited transportation. I had to catch the bus to get to work, and after work i had to stay four or five hours until the morning bus. 17 of atlanta region jobs are accessible to low income suburban residents. Fortunately, this man got his job back, after gaining a fulltime job. Hes living pay check to pay check and hoping to return to a middle glass lifestyle soon im in a good place, i like the company i work for, i think i have a good chance up. A Brookings Institute study found half of all suburban nonprofits reported funding cuts with budget tightening to come, and more than one in five organizations had to reduce Services Available since the start of recession. We heard how suburban sprawl adds to the challenges facing americans. Theres job sprawl, sending jobs to the suburbs. While you may think it would help the poor, it turns out jobs sprawl is contributing to poverty. Joining me from california is professor michael stawell, the chair of Public Policy at the center for the study of the urban policy at u. C. L. A. We heard of suburban sprawl. Tell us about job sprawl . It refers to the decentralisation of employment. Since the post world war period, jobs suburbanized. In particular, low skill and moderate skill jobs suburbanized to a much less extent. Jobs in manufacturing, particularly in retail and service, for a variety of reasons, includes high income people demand amenities such as through retail trade and services and the jobs follow those people. It seems a little counterinduetive. You think people move to the suburbs and jobs go to the suburbs. Is it an issue, a quality of jobs, is it transportation. Its a variety offing things. Suburbs of diverse across income classes and racial and ethnic groups. High income individuals who live in suburbs demand meanties such as consumption and retail frayed and Services Providing low skilled jobs, its difficult for less educated workers living in suburbs to access the jobs because Public Transit is not designed to move people within suburbs, but from suburbs to the central city. Its true for rail, and bus lines are noted for inflexibility. It takes 13 years to change a Public Transit lines, municipalities are not creative enough on how to move public around in a way that sponds to the changing location of jobs. We heard that ayman was leaving three fours for work. If you had one thing to fix the make . Theres two different approaches. You can bring jobs to people or the people to the jobs. Bringing jobs to people is expensive. It takes a long time to bring jobs to location. Most say it costs 30,000. You can move people to jobs through Public Transit. Theres challenges in doing that. Or you can move people to jobs. I think its costefficient. Section 8 housing choice vouchers, allow people of moderate income are allowed choices of where they could move, subsidising the rent according to income levels. This shows promise, but theres challenges. Munize palties discriminate vouchers. Not all have rental housing. Michael. This is fascinating. Jobs for all a new word that i have learnt here. Thats a suburban sprawl. Thank you for joining us. Thanks for having me up next thanks to rising seas and lost soil, farmings future may be all wet. We show you what farming could look like soon. First, preventing a financial crisis, we talk to a man who says he has the april. On techknow. Were heading towards the glaciers a global warning is there an environmental urgency . That is closer than you think. Even a modest rise, have dramatic impacts on humankind. How is it changing the way you live today . Techknow. Every saturday, go where science meets humanity. This is some of the best driving ive ever done. Even though i cant see. Techknow. Were here in the vortex. Only on Al Jazeera America israels invasion of gaza continues tonight. We have been hearing a lot of tank shelling coming from where we are, here. Every single one of these buildings shook violently. For continuing coverage of the Israeli Palestinian conflict, stay with Al Jazeera America, your global news leader. The International Monetary fund cut its forecast for the u. S. Economy in 2014, calling for the weakest growth since the Great Recession ended. The Freight Train<\/a> carrying north dakota crude exploded in piggins county. No one suffered injuries, but 11 cars burnt to a crisp. In december a 110car Freight Train<\/a> in north dakota carrying order from back and shield derailed near castleden, causing a fireball causing authorities to evacuate resident from their home. In april, an oil train derailed and burst into flames in lynch burg virginia. Oil by rail is not only hazardous but more expensive than pipelines. The extra oil has to be moved. Rail has been picking up the slack. The transport of oil by rail jumped more than 44 in the summer months of 2013, compared to a year earlier, according to the association of American Rail<\/a> roads. U. S. Rail roads transport 10 of output, or 800,000 barrels per day. All that has started to overwhelm smaller branch lines, which are not as well maintained as the older ones. This weeks proposed rules by regulators to use stronger tank cars requires transporters to increased shieldings and build crashresistant valves. Its long overdue. The ray road petitioned the government to raise standards three years ago. We asked to have the dot 111s faezed out or rhett re fitted. As the u. S. Ratchets up oil production, some say the nation may have to go further and rething how it gets the oil to market. In a couple of minutes i talk to an Energy Expert<\/a> who calls oil by rail a weapon of the mass destruction. General motors set a record for total cars recalled in a year. The automaker today recalling six more models. More than 700,000 vehicles will be pulled to the dealerships. Problems found with seats, turn signals and roof carriers, two crashes and three injuries resulted from the defects. The recall brings the total to 60, covering almost 30 million vehicles. Plane crashes in taiwan and ukraine and a ban on sites to israel what impact that could have if you plan a trip. The new phase of poverty in america. Its not the urban court any more. On Al Jazeera America<\/a> presents we always have strikes. People should never be allowed. What started as a peaceful protest police seem to stick to the selfdefense story became a horrific moment in South African<\/a> history i dont think any organization in this country would ever anticipate this type of violence what really happened that tragic day . It is the time to point finger at those whose fingers pulled the trigger al at the start of the show we told you how the u. S. Government is proposing safety rules for transporting crude by rail. It includes phasing out old tanks, better braking systems, reduced speed and more testing of oil. Steven shark is a founder and editor. A widely read, and called oil by rail a weapon of mass instruction. Thank you for coming in steven. Thank you. What do you think of the regulations and the rules. Do you think they go far enough. I think they are a step in the right direction. Much needed and welcome sign to the industry. We are looking at a marketplace thats grown from shipping oil via rail from 10,000 railcars to remember. We are just past the one Year Anniversary<\/a> of a tragedy in queb ebbing when 50 quebec when 50 were killed when a train broke from the rails. It is, indeed, a weapon of mass destruction, be it with a human error or god forbid terrorist activity. Any step to make it safer is a welcome sign. Is this a case of ratcheting up with the explosive growth that you are talking about. Have they caught up enough or behind . This is typical government. The market leads into a direction. Five years ago, if anyone told you that the United States<\/a> would have been energy dependent or independent, and the only country we would theoretically have to import oil, that was not on the radar. It ha tremendous growth and will continue to grow. Im happy that the government is responding. This is what the government does, its not proactive, it responds to the noods, and they are for the needs, and they are for the safer transport of oil. We look at the explosive growth taking place in canada, north dakota. That is great oil. Its not where we needed to be. We need the oil to be at the refinery on the east, west and gulf coast, not just for our own consumption, but what will be a burgening export market for crude oil. Getting it there. Would it be safer to send it through pipe lines. They are cheeper. There has been a lot of pushback. If it continues, will it be headed can we get there . I like to use the analogy of the rocker fellows, when shipping his kerosene out of ohio through the rails. That was the conduit. He decided to strike a part, and the vaneder belts raised the rates. He wept around and built his own pipelines. Thats where we are at. The growth is the cheaper more efficient option this way, because of the political ramifications with trying to get the keystone xl pipeline built. That is pipelines being a safer, cheaper more efficient method to go about, but its a political hot potato, the rails are the answer. The problem, jen, is we are producing so much the existing Pipeline Capacity<\/a> cant handle it. We are trying to get the oil out any which way we can, and it has to be to the export markets. We have made progress in increasing the flow and building fluid. Well have to jump. Go. The founder and editor of the shark report. Thank you. Thank you. At least 47 people are feared dead after a transasia aircraft crashed whilst trying to make a lapping in stormy landing in Stormy Weather<\/a> off the coast of taiwan, just the latest to add to the anxiety of flying. The federal Aviation Authority<\/a> extended a ban to and from israel. The agency is working with the Israeli Government<\/a> to determine whether safety concerns have been resolved. A rocket fired from gaza landed a mile centre their airport. Maybe airlines stopped flying over Eastern Ukraine<\/a> following the Malaysia Airlines<\/a> crash. Prorussian separatists shot down two ukranian fighter jets, not far from where mh17 was shot down. Lets get the industry perspective of what this means for flyers and airlines. A consultant from pj group says it will Cost Airlines<\/a> and customers, because longer flights mean airlines use more fuel, and forecasts this will lead to higher ticket prices. Thank you so much. Good evening. Do you think it will come down to consumers, regular people, that ill have higher prices because of everything we have seen in the past two weeks . Theres no question that this will inevitably come out of the check books and pocket books of the businesses and the consumers who use airlines all over the world. All you have to do is look at the two losses that malaysia air suffered in four months. They lost two airplanes that cost 260 million each, theres a billion of coverage, of liability from the insurers there. That 2. 5 billion, the losses from the one airline will come back to all the airlines, you can be certain it will be passed on by the airlines in the form of higher ticket prices. This is not the first time we had a number of airline tragedies. What does history tell us in terms of what entries we can see premiums. As an industry, we are all obviously shocked and horrified as everyone else is that malaysia would lose two of the airplanes. And all of the lives on board in a short period of time. The recent example that we turn to to see what will happen to insurance and the airlines is inch. After 9 11 we saw the insurance rates for the airline go from under 2 billion to roughly 5 billion. A 3 billion increase in a year. Now, thats one part of the story. But then an idea of having to go around some conflict zones seen happening over ukraine. Obviously those are smaller numbers, do they add up to get transferred down to consumers in terms of fuel cost or is it a small shift and not a big deal . Not at all. Not only are the airlines worried about flying over ukraine and into israel and the loss of the plights and the lose of that revenue. Ukraine is the same size as texas, and flying around that requires added fuel, added labour costs from the pilots and flight attend sans, and airlines choose the aircraft that per going to fly specifically for their routes. When you add an hour or an hour and a half of flying, not only does it have to look at changing equipment, but you have misconnections, you have flight times that no longer work within timetables. On the Global Airline<\/a> system youll see a reroute. Ukraine is smack dab in the middle of the european to Southeast Asian<\/a> flit route. Its route 980. Connecting places like hong kong and london. Major economic engines of the planet. But the concern that i have is that now we have the issue in ukraine and tel aviv, what happiness the next time theres an act of military violence in some other part of the country, does that mean well no longer be able to fly to brazil because america. It is very interesting. President of pos group. Thank you for giving us perspective on what is going on in the industry. Thank you. Up next poverty rises during tough economic times. You may be surprised where it not surprisingly the recession caused rates to soar. The shock is the suburbs. Numbers of lower income individuals and immigrants moving to the suburbs the population of poor residents living in the burs has reached 16. 65 million, outnumbering those in cities by 3 million. Its a gap that continues to grow each day. Robert ray takes us to an epicentre of the paradigm shift. The idyllic suburbs display the calm you would expect. Amidst the neighbourhoods is a stark reality years in the making poverty. The types of things surprising someone that lives in suburbia. If they drove a few blocks over, theyd see a different view of the world. Reporter the number of atlantic residents living under the poverty line has grown 159 offer the last decade, with 88 of the metro areas poor population living outside the city limits, hidden away in pockets of run down houses and mobile home communities. More and more people coming to us for the first time, people that have not experienced do. Kay and chris work at must ministries, one of a handful of charities that serve the poor. Must office food, shelter, Employment Services<\/a> and even a summer lump programme for children in need. Groups like must struggled to keep up with a rapidly increasing demand for their services. That is completely unlike their counterparts in the cities that service the urban poor. The new safety net here in the suburbs, which is patchy and thin at best is at a point. Our approval has gone 37,000, from 97,000 meals to 247 last year, and we are scratching the surface. Suburban atlanta is not alone. Between 2000 and 2012 every metropolitan area from the rust belt to sun belt. And tech areas saw increases in the suburban poor, rising 65 nationwide, more than twice the pace of growth in cities. I think we have had a traditional view of poverty that it may be an alcoholic under the bridge. And the thing that is so important for people to realise is that people that look like each of us, and who have experienced many of the same things we experienced. As perception of suburban poverty lagged, so has the funding. Groups like must in atlanta suburbs get 2 in grant money per poor person, compared with 72 awarded to city counterparts. Suburbs have had a great deal of challenge trying to track the fund to build capacity. Elizabeth knooeb own ace much of what drew people to the suburbs, Affordable Homes<\/a> and middle class drugs became driving factors of poverty after the collapse in the wake of the financial crisis. 94 of foreclosures happened. They are facing shifts. Middle age jobs were lost. We are seeing the living here for a family of two with two children at 17 an hour. Hour. Beth works in Employment Services<\/a> at must, and says most of her clientele are Older Workers<\/a> like ken, a former truck driver for 20 years, who fell out of work when his company shot down. Unable to aforward car payments, he faced a major challenge affecting the poor. Navigating the suburban sprawl using a limited transportation. I had to catch the bus to get to work, and after work i had to stay four or five hours until the morning bus. 17 of atlanta region jobs are accessible to low income suburban residents. Fortunately, this man got his job back, after gaining a fulltime job. Hes living pay check to pay check and hoping to return to a middle glass lifestyle soon im in a good place, i like the company i work for, i think i have a good chance up. A Brookings Institute<\/a> study found half of all suburban nonprofits reported funding cuts with budget tightening to come, and more than one in five organizations had to reduce Services Available<\/a> since the start of recession. We heard how suburban sprawl adds to the challenges facing americans. Theres job sprawl, sending jobs to the suburbs. While you may think it would help the poor, it turns out jobs sprawl is contributing to poverty. Joining me from california is professor michael stawell, the chair of Public Policy<\/a> at the center for the study of the urban policy at u. C. L. A. We heard of suburban sprawl. Tell us about job sprawl . It refers to the decentralisation of employment. Since the post world war period, jobs suburbanized. In particular, low skill and moderate skill jobs suburbanized to a much less extent. Jobs in manufacturing, particularly in retail and service, for a variety of reasons, includes high income people demand amenities such as through retail trade and services and the jobs follow those people. It seems a little counterinduetive. You think people move to the suburbs and jobs go to the suburbs. Is it an issue, a quality of jobs, is it transportation. Its a variety offing things. Suburbs of diverse across income classes and racial and ethnic groups. High income individuals who live in suburbs demand meanties such as consumption and retail frayed and Services Providing<\/a> low skilled jobs, its difficult for less educated workers living in suburbs to access the jobs because Public Transit<\/a> is not designed to move people within suburbs, but from suburbs to the central city. Its true for rail, and bus lines are noted for inflexibility. It takes 13 years to change a Public Transit<\/a> lines, municipalities are not creative enough on how to move public around in a way that sponds to the changing location of jobs. We heard that ayman was leaving three fours for work. If you had one thing to fix the make . Theres two different approaches. You can bring jobs to people or the people to the jobs. Bringing jobs to people is expensive. It takes a long time to bring jobs to location. Most say it costs 30,000. You can move people to jobs through Public Transit<\/a>. Theres challenges in doing that. Or you can move people to jobs. I think its costefficient. Section 8 housing choice vouchers, allow people of moderate income are allowed choices of where they could move, subsidising the rent according to income levels. This shows promise, but theres challenges. Munize palties discriminate vouchers. Not all have rental housing. Michael. This is fascinating. Jobs for all a new word that i have learnt here. Thats a suburban sprawl. Thank you for joining us. Thanks for having me up next thanks to rising seas and lost soil, farmings future may be all wet. We show you what farming could look like soon. First, preventing a financial crisis, we talk to a man who says he has the april. On techknow. Were heading towards the glaciers a global warning is there an environmental urgency . That is closer than you think. Even a modest rise, have dramatic impacts on humankind. How is it changing the way you live today . Techknow. Every saturday, go where science meets humanity. This is some of the best driving ive ever done. Even though i cant see. Techknow. Were here in the vortex. Only on Al Jazeera America<\/a> israels invasion of gaza continues tonight. We have been hearing a lot of tank shelling coming from where we are, here. Every single one of these buildings shook violently. For continuing coverage of the Israeli Palestinian<\/a> conflict, stay with Al Jazeera America<\/a>, your global news leader. The International Monetary<\/a> fund cut its forecast for the u. S. Economy in 2014, calling for the weakest growth since the Great Recession<\/a> ended. The International Monetary<\/a> fund expects g. D. P. To increase 1. 7 , down from 2 in june. Reasons include the unusually harsh winter and a struggling housing market. Joining me from washington explaining what will drive the growth is nigeel growth. One interesting thing in your report is that other people see peptup demand and activity pentup demand and activity will surge, is that what you are thinking. Are you confident about the second half. In the sense we see growth 33. 5 in the second, third and Fourth Quarter<\/a> of the year. Where we dont share the views is the idea that the demand that didnt happen in the second sorry, in the First Quarter<\/a> will be moved to the second. We dont see that. Some people have growth more than 4 in the second. 3 to 3. 5 is growth above participation for the u. S. Its a healthy growth rate. Going into next year its continuing, with growth at 3 , the best performance since 2005. I want to talk about housing. International Monetary Fund<\/a> cited the sluggish u. S. Housing market recovery. Others think housing is going okay. What has you concerned in particular. What can you point to . I think housing is doing better, and we are seeing signs of activity, numbers from the National Association<\/a> of home builders, and terms of house sales. What we are concerned about it residential investment. We dont see strong signs of residential investment picking up or that new households are forming as in the past, creating a demand for housing. Part of the issue is the availabilityie of mortgage credit. We see the conditions as tight. You need high credit ratings. I think that is putting a damper on the return of housing to be a activity. We talk about housing and Interest Rates<\/a>. Lets talk about Interest Rates<\/a>. You are looking for Interest Rates<\/a> to be zero, pushed out further than people are talking about. Why do you see that . You guys have a good line on this. Our baseline forecast is one where the fed has indicated beginning of movement off the zero Interest Rate<\/a> floor around middle of next year, and a slow progression of Interest Rates<\/a> moving up, basically going up every other meeting in a slow way. With the forecast we see a large output, and not the signs of big inflation pressure oars. If that pans out, theres a large output, unemployment and parttime employment below where it ought to be. Without inflation pressures, theres some scope to delay the liftoff period a few months later into the year. You spend time looking at inequality and poverty in the country, and one of things you talk about is raising the minimum wage. Steps . Poverty is important in the u. S. Not om from a social per only from a social perspective, but the fact that 50,000 are in poverty puts a strain on demand. We think what will primarily drive an improvement is growth and job cree ace, the big driver creation. We think theres a policy aspect that the government can take steps to help. It has down in materials of exparticipation to the earning and income tax credit. That is given to low income households to boost the income. It could be expanded particularly for the households without children. I wish we could expand our interview. Nig eel, Deputy Director<\/a> of the department. No one wants a repeat of the crisis. The question is how to prevent future financial meltdowns, a successful former Credit Card Department<\/a> has the answer. Paying attention to what he calls a flashing warning light. And that is private debt. That is simply the total debthold by businesses and individuals, including mortgage debt and credit card debt. All debt that is not held by government. One way to measure private debt is to compare it to a countrys domestic product. Take a look how the level as a percentage of g. D. P. Grew in the run up to the 2008 financial crisis. It reached 103 of g. D. P. As mortgage lending exploded. Its back down to 156 . Relatively high. This is laid out in a book called the next economic disaster, why its coming and how to avoid it, by a managing partner. Ali velshi spoke to richard and he said the answer is clear. All financial crisis in major countries where we have data were caused by a single thing, a rapid run up in private debt. Thats the japan crisis of 1991, the ain crisis of 97, and the Great Depression<\/a> of 1929 as well. Run away private lending. What is the relationship. Why would that be the thing that causes this. If you have run away private debt, like a 20 increase in g. D. P. Over a 5i dont remember period. You have 5year period you built way too much of something, too many houses, way too many Office Buildings<\/a> as they did in japan in 91. You built more capacity that you need. Two things result from that. One is you have created a lot of bad debt in the u. S. In 07 we created 2. 5 trillion. The Banking System<\/a> had a trillon and a half worth of capital. That means some institutions are going to fail unless they are rescued by the government. Thats the first thing. The second thing is you created so much capacity that growth will be slow until you absorb it. Theres no reason to grow more, for a factory to expand. You have too much. If you have a 45 year supplies of housing supply of housing, it will be slow. We are probably coming to the end of a lot of damage done, but the fact is when you talk about i want to put the graph back up so i can show my viewers, when you talk about the growth in private debt compared to g. D. P. , no individual or Company Knows<\/a> that they are responsible for it. How do we know when its getting out of control . I think the Federal Reserve<\/a> keeps a wonderful statistic in the United States<\/a>. Thats one of the things that the u. S. Leads in. We can watch the aggregates. If you see it growing at a rate in excess of g. D. P. Over an extended period, thats how you know. One of the things that we have to think about is what do you do with the situation now. We talk a lot on the show about the middle class, the shrinking of the middle class. You relate that to excess capacity. When you have that, there wont be an expansion in the economy, you will not have growth and had beens the middle class suffers. Absolutely. In addition to that the middle class is carrying around too much debt. In 1950 private debt to g. D. P. In the u. S. Was 55 . Today its 156 . Tripling in two generations. That means middle class are spending excess cash servicing the extra debt and dont have it available to spend on cars, vacations, restaurants and the like. The fact that the recovery and u. S. s is less relates to the fact we carry around too much private debt. You were successful in the cred the card business. We have an economy built on people taking on debt with the hope theyll do well and pay it off. How do we measure what is too much. What is wrong behaviour, what is irresponsible in terms of accumulating debt at the private level. I think you watch it in relation to g. D. P. Okay. If private debt is growing a lot paster than g. D. P. It has always grown a little faster than g. D. P. If it grows rapidly compared to g. D. P. A lot of debt is extended that is not productive. And therell be bad debt. That makes sense, because your capacity to earn more to service your debt as a company or individual is tied to the. Thats right. You should not serve debt at a higher level than the any is growing, so you can grow debt. Yes. And it relates to commonsense. Theres an area of south beach where there was one highrise conden innium, 10 were were built. It made sense we were building faster than the need. Is there a sense at 156 of g. D. P. What is a good amount. You said we were at 55 compared to g. D. P. Where should we be. I think 156 is too high. In spain its 220 . In portugal, which we have been reading about, its 255 . You know, it was 50 for us. Right after world war ii. I think anything over, you know, say 150 starts to be problematic. Is this a consumption problem, is it tide to the fact that we are a consumer driven economy and take pride in being that consumer driven economy. Take a bigger loan out. Buy a bigger House Companies<\/a> that work on Quarterly Earnings<\/a> have to report arranges growth. Askew . I dont think its a moral issue. I dont think it relates to inappropriate behaviour. What i think it relates to is Capital Requirements<\/a> at financial institutions. And what we have seen is again and again those are relaxed or institutions learnt their way to circumvent the Capital Requirements<\/a>. Once that constraint has left, banks can increase the lending without having to raise capital to support that. Theres more money than the economy would provide. In an economy where a bank lends out as much money as they have that. Thats right. Thank you for writing the book and joining us. Richard vague, author of the next economic disaster. With americas farmland disappearing. The april could one day be floating farms. Well show you coming up. Plus, facebook earnings out today. Well tell you how the company has been making big money off of you. Cornell University President<\/a> David Skorton<\/a> is a College Education<\/a> worth the price . Discusses the purpose of College Students<\/a> allow yourself to dream. Its very, very, important and his post university plans the intersection of the sciences and the arts was very attractive to me. Every saturday join us for exclusive, revealing, and surprising talks with the most interesting people of our time. Talk to al jazeera only on Al Jazeera America<\/a> his,. Al jazeera america. His,. Ocean farming is not a modern innovation, ancient egyptians, aztecs and chooupees long farmed aquatic plants. Disappearing soil threatens the planet environmentalists and futurists are experimenting with floating infrastructure as alternative options for the future of farming. What will you do today . I will transplant the rest of my koouk cum brs. Reporter meet kath rein king and wayne adams sculptures living on a floating platform. We are floating above half an acre. We are floating a million pounds, about 500 tonne. 90 garden. The rest a small studio. Reporter they moved out to sea 22 years ago and built a home with wood, beach combed after a storm. We knew that we wanted to live out here and found the cove, the water supply it has, as well as the application that it gives us. With my desire to want to grow all my own vegetables, we needed to have space for that. They plant a variety of fruits and vegetables, enough to feed family and friends. They pick the bones of fish farm industry in the surrounding area, using recycled material, starting with galvanised island. We are standing on an old fish farm system now. These containers were cones that they used to work with feed for the fish. We use that netting for wind breaks. See, the float balls that we cut holes in and turned into lights. Reporter freedom cove was built to protect. Lake. I have a tank on the shore, i have pipes. I gather the water. Its not a creek, its a cascade. Its always good and fresh. Reporter right across the continent it sits on the hudson river. The bathroom is home to a sustainable floating farm and education center. It sells produce at the weekly market. Unlike freedom cove it operates a hydroponic and aqua ponic greenhouse, a method of farming using min areal nutrients in water, without soil. We can grow vegetables using 25 of the water. Its important. Its recycled water. Its used again and again. We can grow seven times the system. Jennifer sloane is the director of education, joining the floating farm after working on a soilbased farm. I was kept conclude of the ben skeptical of the benefits. The initial costs can be expensive, setting up a Hydroponic System<\/a>, greenhouse and energy needs and run into the thousands. Its cheaper to a regular farm. You dont have high labour costs and inputs are the same. Technology has been an equalizer in contributing to the success of both floating farms. After 20 years without telephones or a satellite. The internet came to the bay last year. Welcome to the modern world. Im an facebook, wayne adams, say hi. The couple do not sell their produce, Technology Helped<\/a> to bring visitors and tourists from near and far. On both coasts these farmers admit alternate methods of farmers allow them and consumers efficient. When you have a floating farm or a rooftop farm, which we are a prototype for, you can provide food for people where you live, without transporting it. Wayne and katherine live on freedom cove on about 600 a year. Most of the income is generated from sculptures and donations from cures. The created of the science barge is a cofounder of bright farms, a company that builds greenhouses some on rooftops to bring local produce to communicate yes. Thank you for coming in. Thank you. We saw this floating paradise. It looked amazing, for someone that cant get her tomatoes to grow. You created this in 2008. And then you went to roov top farming. Why dont we here about floating farming . Floating farming has challenges. I hear about a lot of them. The science barge was successful because the platform that we are on is durable. Its a big scheme industrial bathroom, its very sturdy, because we spent a lot of time planning the programme, and figuring out the aspects that go beyond the treatment, the practical aspects. Where am i going to put it, how will i pay for it, those kinds of things. I think another reason that that model has been durable is at its heart its an education piece. Its about Science Education<\/a> for children, and that is something that is important in this country right now. Do you see it in the future becoming something commercialized. That people can get into this because they want food for the family, is this scaleable . Its scaleable in the sense that the technologies that we see are advanced, highly efifferent ways to efficient ways to grow vegetable, something that uses less water and lapped. The scale may not look like a carpet of barges, it may be terrestrial, greenhouse based, urban rooftops, warehouse, suburban rooftops. Theres a lot of ways at which the model can grow. Its about compact and vegetables. Technology is important, and its expensive. Can you do it on a shoe string. Can you live the dream . You can do it at different budget levels. Yes, i think theres something for everywhere here. You can put a Hydroponic System<\/a> in your backyard. Those are the type of systems we used on the science barge, all the way up to largescale over 100,000 square food and hydroponic green houses. Bright farms is building a few of those, and we are certainly looking to scale this to a national level. I have to ask you, because i watch this show silicon valley, and they had sea steading. It has a pop culture now, where people will live on different rigs and go, you know, float out and have their own kingdom. Do you think people will explore the ocean front ear as much as the space in the next 100 years . I hope so. Whether you believe in sea steading as a practical model or not. Its important what you said, to recognise that its a frontier. Frontiers are very valuable, bringing us together, improving morale and brings technology that can be important in other walks of life. If you look at the Space Programme<\/a> and what came out of n. A. S. A. s work, medical technologyies are in dispensable. Mattresses that we sleep on. Lots of things came out of that. I learnt that velcro was a swiss invention. Thatll have to be the next interview. Thank you for coming in, ted cap low, creator and chairman of the board of bright farms. Next, there once was doubt about facebooks future. Those doubts are fading fast. We look at the latest profit report and tell you why investors are getting excited. Stay with us. Its been two years since facebooks rocky i. P. L. At the time it was getting hammered on its mobile strategy. This afternoon the reservations appear to have been put to bed. Facebook driving a 61 revenue gain in the three months ending in june. Shares hit a high in after hours trading. Kurt wagner joins us from san francisco, where he listened to the facebook earnings call. With more on what is ahead for the social network. Lets talk about the call. You were on it. I would love to get details. The ad revenue for the quarter, with noble ads accounting for 62 , 2. 5 billion. How will they drive this forward. They want to eat googles lunch. How do they do it . Its important. What a lot of people asked about on the call is how is facebook going to implement video ads. Its something they have been talking about, something that will be in the news feed on the web and foeble, and so i think when they are able to bring short ads to mobile, it will increase that number more in terms of how much of the revenue web. Video seems like a key driver going forward. Do you think theyll execute on this. I mean earlier there were questions about the execution strategy. Seems like that has been working out. What questions were people talking about . I think the big concern is where is the money going to come from, will it take away from other elements of facebooks revenue, and will users accept video ads or relevant them. I think that facebook, because they are trying to go slow, they are trying hard to make sure the ads are appropriate and targeted appropriately, and i think that will be the key. People are so used to seeing short videos between vine, instagram, and they are used to consuming that kind of content on the phone. Its good that facebook is taking it slow. The major concern is will users push back when google brings the autoplay to a news feed. In terms of messaging going forward, and the strategy that you are seeing at the company, how do you think my facebook experience will change . I dont think it will change a whole lot. They keep talking about messaging and mono tieing messenger as being something that is a long way off in terms of whats up and the standard messenger that it had. In terms of making them a viable revenue stream, i dont think it will happen soon thats what they are saying. On the call they mentioned that at some point messenger will be mon etized and people can send payments to one another. That was the first time they touched on that. Again, something way down the road, but something that well have to follow. When you look way down the road at facebook, the social network, thats what we think of it now. They had interesting acwis illegals as. You have whats up. And others. What is the strategy . Are they moving from the social network . Its always going to be about the core facebook experience. Its been interesting to see that you made acquisitions, and companies that they not put the facebook logo on. When they brought instagram, they let it stay instagram. With op u lace and whats up. They are letting you know its facebook owned but is not facebook, they are other services. It will be interesting to see if they can maintain that and have different verticals beside the social network that they are known for and have been known for this whole time. Thank you kurt wagner. Me. When you think of a mentor you thing of an older worker teaching the ropes to a younger employee. Tomorrow, a shift in some companies where techsavvy 20 somethings are the ones doing the mentoring. Thats tomorrow at 7 00 eastern. Finally, we like to keep you about dates in history that is important and some are random. Its National Hot Dog<\/a> day. I know you think its another interesting trying to boost sales true. Think about it, july 4th, hot dog eating context. Summer barbecues, baseball games, you can see why the American Meat<\/a> institute claims a day of its open in july. It was designated in 1991. The history of the hot dog goes back further. The way history. Com tells it Frankfurt Germany<\/a> claims it be the birthplace of the modern day hot dolling, ipp vementing the frank hot dog. Inventing the frankfurter in 1944. Vienna claims to have inventeded the weanerwurst. It was a polish immigrant, nathan handworker, who was a game changer in america, setting up a hot dog stand in kony island, charging a nickel for his allbeef hot docks, and famous nathans hot docks were born. Fastforward to 2013, the National Hot Dog<\/a> and Sausage Council<\/a> yes, theres a group by that name estimates 1 billion packets of hot dogs were sold. We can give the dog its day, happy National Hot Dog<\/a> day. Mustard day is august 2nd. Thats the show, im jen rogers in for ali velshi. Thanks for joining us. Hello there, youre watching al jazeera live from doha. The top stories the United Nations<\/a> votes to launch a war Crimes Investigation<\/a> into israels invasion of gaza. Hamas says there can be no ceasefire without onnd to the blockade. An end to the blockade. And united in grief the nth receives the netherlands receives the bodies of those that died","publisher":{"@type":"Organization","name":"archive.org","logo":{"@type":"ImageObject","width":"800","height":"600","url":"\/\/ia801409.us.archive.org\/2\/items\/ALJAZAM_20140724_060000_Real_Money_With_Ali_Velshi\/ALJAZAM_20140724_060000_Real_Money_With_Ali_Velshi.thumbs\/ALJAZAM_20140724_060000_Real_Money_With_Ali_Velshi_000001.jpg"}},"autauthor":{"@type":"Organization"},"author":{"sameAs":"archive.org","name":"archive.org"}}],"coverageEndTime":"20240620T12:35:10+00:00"}