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tv   [untitled]    October 7, 2012 10:30am-11:00am EDT

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took credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong because it's real factors not just psychological factors psychological factors are very important but it's the real factors the real market that is available to business man that caused them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it wanted but the policies were pointing in a different direction austerity we now know hits the poor significantly harder than it is the rich presumably that means that during this recession the gap between the rich in the poor will why didn't even fire yeah that's that's already happening a real real incomes have been going down because prices have been going up a bit and of course welfare benefits are being slashed. a lot of
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a lot there are lots of cuts in the public services and the rich are better able to insulate themselves against some of these effects for example house prices in london haven't gone down at all especially in the wealthy areas and in fact they may be going up a bit so the world of the wealthy has been well maintained but people who have relied on incomes from wages have been hit and of course there has been since the beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment is happening jay graphically as well where rich regions get richer and poorer regions get poorer do you see a strategy by the governments in which areas that do economically well will apparently be rewarded while areas that do economically badly will be left to kind of fan. to generate what's the economic justification that well i think the
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government wants to back winners. and. and it believes that winners come about through self. through through act the private private initiative sensually and so it wants to back back strong and hope that that will encourage the weak but of course this gap between the regions has been longstanding and recently most of the world that's been generated in the last ten twenty years has been in southern england and so the gap between the north and the south which had been actually getting less in the mid medias of the century has last century started to grow again and economists seem to almost universally to reject austerity and embrace advocate borrowing and spending instead why isn't the government doing
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that well i don't think you're right i don't think the majority of economists do i mean the majority of economists say that the government is right to in its in its budget a budget deficit in its deficit reduction programs but it needs to do something else but what they don't explain is how doing something else can be made consistent with a reduction in government borrowing. you know government produces borrowing they say must reduce its borrowing then it's hard to know how it's going to do something else because unless it raises taxes for example that may be an alternative but very few people are advocating that taxes should go up so they're in this sort of halfway position a more or less there's no alternative to a stereotype but a stair it isn't a growth policy therefore the government should do something else but when it when . you actually asked them
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a what should it do they get all vague. i think they should cancel a lot of the a stereotype obviously i think they should cancel the cuts in capital spending particularly and because of that that those schemes were ready to run when the kurdish and took office and they have been put into cold storage they could be this is buildings building schools building building houses hospitals all these projects that were canceled because the government was cutting down its spending i think should be uncancel that i think they should be revived so you're saying you've got to speculate to accumulate in a way not speculate spend you've got to spend because you see at the moment they're not meeting their deficit reduction targets they're not reducing the national debt in fact it's going up the whole time. and it and it's going up because the economy is going down the economy is what provides the government with its income and if
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the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy can't even succeed in its own terms one of your colleagues an economist called james kean has suggested a scheme that he calls quantities if easing for the public saying that the debt that private individuals have needs to be reduced under the scheme he says that cash would be issued to individuals and those with debt would have to use it to pay that debt down and those without it would have a cash injection and it sounds like a great scheme and do you think it would work well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because. they could even increase their spending and
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therefore set up a demand for shoes and clothes and food and all the things that people spend money on and so that'll be good for business that's i think that's a good idea actually suggested that the government give every household one hundred pound christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think everyone enjoys getting christmas presents and people really expect them from the government we've seen a europe wide backlash against austerity what do you think prime minister david cameron's chances are of being reelected if he continues if this territory continues if there's no change of policy if the measures that are now being proposed small or is ineffective as one thinks they may be then i think his chances of winning the next election
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a very very small. because i think that there won't be a recovery his best chance of winning an election in two years' time is if there are proper green shoots of recovery and people can see them and they feel they're feeling better about the economy they're feeling better about their prospects they're feeling better about getting jobs and feeling better about getting more income then i think he'll benefit from that and have a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we've fallen off the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and
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and enjoy life more and he thought hours of work over time would shrink as we got richer but that assume that we wouldn't fall into these holes that you know that progress would be steady and you wouldn't have any more slumps but we're in we're in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that full speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run an hour long run prospects one of the things that the railed keynes's theory is this consumerism that we've all fallen to the spell of where we have to work more to buy more to have more are you worried that more crises will follow because of the way we work and because of
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what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most people want to and getting into debt and then the whole machine is driven by advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only working very. part time we need to sort of distribute work better among among
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among people who want to work and also make sure there's more leisure so people can pursue you know pursue things for their own sake do things that interest them. and that's the way forward otherwise we're all sort of treadmill and i think. you're right they'll be more and more crises as a result of it no drop it's good ol ski thank you. i never thought i could earn a living this way. natale issue of oil is a norm or should just small arms so there's a lot almost machine building ploy and a lot of the us lost count of all the weapons she's fired over the past twelve
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years. i got so used to it sometimes my friends ask me to join them at the rifle range and i say no wait i'm so tired of shooting. the planet's history goes from making firearms during world war two to ballistic missiles from nuclear submarines during the cold war the bulk of the soviet industry was moved here in the 1940's to flee the advancing germans so i was here also became the heart of soviet military production closed off to foreigners for hoffa's century it thrived on the massive moods of the soviet military when the u.s.s.r. collapsed the life here was shaken to the core but some adapted to better than others. this is the year old truck factory brushes the number one truck maker or gravel look at how well the workplace is organized everything's done to make sure the workers don't waste time waiting there was production is booming the factory has largely managed to get on to civil rails these johnsons sold around the
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globe hit a base a brand new be no way for him to be delivered to acquire seventy trucks like this one roll up the bronx conveyor belt every day look at about this things that absolutely huge. well i'm no formula one pilot but hopefully if i. i can get up that. well i can go far ahead try. to get one of these to travel to whatever in the morning that's where the cost of about forty thousand dollars i should start saving. me is eve it's.
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easy to. see. led mission. accreditation the free in-store charge is free the arrangements are free. free studio time free. download free blogs just plug in video for your media projects a free medio dog r t dot com. wealthy british. passport on the telephone. market so why not a scandal and. find out what's really happening to the global economy is
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a report on. the influence. science technology innovation all the rest of melanin still around russia we've got this huge earth covered. so.
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straight to breaking news for you this hour on r.t. turkey fires back into syria after a mortar lands inside the same turkish village where five civilians were killed by a syria based strike on wednesday sparking days of mutual shelling meanwhile rebels reportedly captured a president assad's cousin. italian's fury over mounting cuts and descends into clashes as thousands of students marched in major cities calling for the government to save schools are not banks and right now in spain and civil servants are marching for their jobs. at a wrongly accused russian student who was brutally beaten in
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a canadian detention center faces a long and uncertain recovery his family and friends say the country's authorities are not doing anything to help. more news at the top of the alpha now though it's paul and the sport. thank you very much we're walking along to the sports headlines here's what's coming up title charge two sittings and jay extend their lead at the top of the russian premier league table with the two you'll win it in our. movie being on our brains against the passion vettel wins the japanese graeme frame to move within four points of championship leader for number one. the china open for the world number two novak djokovic speaks french with joe wilfred tsonga to win the tournament in beijing. the first football and angie has opened up
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a four point lead at the top of the russian premier league table following a tuna when the number who sitting side had to do it the hard way though they were down to ten men. sent off after nine minutes for not foul on the edge of the box but second half goals from eurasia cough and summer time secured the win the darkest on outfit are now unbeaten in twelve in the competition. elsewhere one of the biggest games in the calendar is taking place right now it's the moscow darby between spartak and says car of the luzhniki they're approaching hard time and as you can see it's the visitors who have a one goal advantage elsewhere on car one one miller rubin champions the reigning champions in eight trials actually krasnodar looking for their first win in four. over in england full and have earned a point at southampton following a dramatic turn to drool manchester united will later try and bounce back from the other thing to top them as they take on new cars sold spurs themselves and i think
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the fourth win in a row i was playing host aston villa it's approaching half time is goal less elsewhere liverpool rangers and stoke also close to the conclusion of the first half and also goal of. now formula one aware reigning champion sebastian vettel has moved to within just four points of fernando alonso in the overall standings after victory at the japanese groundbreaker the german started the race called position and his red bull was dominant throughout coming home twenty seconds ahead of ferrari's for the. comer kobayashi of south finished third out of the mclaren jew or gentile and button and lewis hamilton hurtles teammate mark webber could only come home in night after he lost control of his car at the start of the race however things were much worse for the overall leader fernando alonso i had to retire after a crash as you can see here on the first lap. so this is how the overall standings look the reigning champion vets always within striking distance over long as the
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german looks for driver's title in a row he's not let the standing so far this season but is now just four points behind the spaniard with five races left. now tennis and maria sharapova has been beaten in the final of the china open the russian outclassed by world number one victoria azarenka going down six three six one it was a poor start for sure opera as a rank a stormed into a fall of late in the first set the belorussian totally dominant in the second as she eased out fifty twenty one when all the two thousand and twelve. meanwhile in the men's competition world number one made by djokovic she was victorious she had to fight hard to take the first set against france and join wolf and sunday on a tie break for this round we're going much easier in the second taking it sixty two to claim his fourth title of the season. because it was very special and. i haven't lost many matches and been actually lose
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a match since i've been coming in beijing. only one at the olympics a great title. i love this feeling and i love the conditions here. now to rugby where new zealand have finished the inaugural rugby championship with six wins from six matches that's after they concluded their campaign with a thirty two sixteen when i have a south africa having wrapped up the title with going to spare no blacks were looking to complete the series with a one hundred percent record but they actually fell behind in some way to placing bryan habana scored for a try after two minutes as the hosts took. the half time dressing down from coach steve hansen changed the complection of the match of the visitors went through the gears in the second period to cure a mass sixteenth win in a row they are now just one victory away from setting and record among test playing nations. now boxing great mike tyson has defended the current heavyweight division and in
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particular the klitschko brothers the ukrainian jiro has dominated the category for the better part of a decade but often criticised for their unspectacular style with some labor in the past boring i think it's good not exciting that we people used to like siamese to a large draw it's almost like a soap opera you know we were fighting but it's very very serene because the champions are that way because it's going to refight you can't get away from there you can't blame be everybody in the vision. now over to the ice where in the kontinental hockey league five games taking place across the continent on sunday was a carny talking on cell about you i have been. spot on moscow also an auction here in the russian capital is the red and white and to tell you deny meant a really good start in the other games ukrainian side don't back down yes to play against the jazz while in the late game of the day it's live on
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a take on defending champions deny moscow in slovakia. so it's been three weeks since the n.h.l. lockout was announced since then the continental hockey league has gone from strength to strength with the world's brightest stars moving across the ocean isle some of the most spectacular moments the k.h. alice had to offer in the last ten days or so.
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live live. live live. live live
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. live
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. that is all from the water sport for now but i'll be back with up plenty more in just under two hours time when i'll tell you join me that. you know sometimes you see a story and it seems so poorly you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm sorry welcome to the big picture.
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world. science technology innovation all the developments around russia we've got the future covered my parents really truly honestly believe that what had happened was as a result of my father's exposure to agent orange i was born with multiple problems . i was missing my leg and my fingers and my big toe on my right foot i use my hands a lot in my artwork i find myself drawing my hands quite a bit to me for my hands you know just as if anyone would. but they do tell a story they tell a story of. wealthy
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british style. that's not on the front of. the. markets finance scandal find out what's really happening to the global economy for a no holds barred look at the global financial headlines join in to cause a report on our.
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overcoming a barrier like this seems impossible. but then you create something higher. and when you reach the future. you'll do whatever it takes to get all the talk of the world on artie's. by horse. by tractor. by car. where the road ends. as a carpenter. as
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a stove setter. as a farmer. as an assistant. as a friend. as a relative. delivering post and delivering good.

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