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tv   Real Money With Ali Velshi  Al Jazeera  May 15, 2014 7:00pm-8:01pm EDT

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would like the latest on anything we have covered just head on over to our website., real money is next, david chuter is in for ali velshi tonight. fast-food workers take a stand in the battle for better pay. we'll show you who is behind the worldwide protests and whether their demands can be met. and shareholders at a big restaurant chain has voted down a big pay package for the bosses. plus the energy boom is causing an explosive risk under the streets in our american cities. i'm david shuster, and this is
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"real money." ♪ >> this is "real money," and you are the most important part of the show, to tell us what is on your mine by tweeting at, and this was a day of protests in cities across america and around the world. hundreds of fast-food workers demanding higher pay walked off of their jobs. it was part of a cou court -- coordinated one day strike. here in the united states labor organizers from the service employ international union join the protest to call for raising the minimum wage in this country to $15 an hour. right now the federal minimum wage is stuck at 7:25 an hour. president obama is calling on congress to raise the federal
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minimum to $10.10 an hour. most fast-food workers make more than the national minimum, but not by much. they bring home an annual income just under $19,000 a year for full-time work. that falls behind the poverty line for a household of three. but businesses like mcdonald's don't like higher wage mandates. they say the increases cut into profits, raise prices, and lead to layoffs. america compares pretty poorly with other countries. the national minimum in canada comes in a little bit higher, whereas france leads the pack with the equivalent of $10.60 an hour. only japan comes out below the united states. but countries like japan offer universal health coverage, so analysts argue that a japanese
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worker has fewer costs to worry about. either way today's protests may signify a new era for labor activism in this country. patricia sabga explains. >> reporter: london. chicago. new york. a global fast-food worker movement supported by traditional unions, but which spraing from known union groups. >> when i first started working about worker centers by 2003 there were about 140, and now there's about 220. >> reporter: none union labor groups have proliferated as the economy has shifted away there
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manufacturing. to services where small groups of employees are scattered around many location and often separated from a corporate parent through a middleman like a franchiser. >> there is a corporate food chain. the workers at the bottom who work for franchises, but at the time, it's the corporations that are really setting the wage. >> reporter: that has forced a change in tactics. a traditional union tactic would be to call a worker strike, shut down a place of business to put economic pressure on an employer. non-union labor takes a very different approach. this franchise is still open. many of the people protesting outside may work in fast-food but not necessarily at that franchise. moreover there are people here from the community who have come out to lend support. the aim here is to raise awareness of fast-food worker
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conditions and wages to put public pressure on fast-food corporations. some of the protesters at that strike in new york are with a traditional union. >> we're here in sol dare with the workers who are out on strike fighting for their rights, and the rights of all of us. >> reporter: lending support to raise awareness, whether they can force fast-food corporations together to improve worker pair conditions is still an open question. >> every job was a bad job until workers and employers came together to make them better. that could be the story of fast-food workers today. >> reporter: patricia sabga, al jazeera, new york. ken is an independented consult important and senior
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associate for the worker institute. ken thanks for joining us. >> you're welcome. >> first of all, what did you make of the protests today? >> i think it's a building of something that has started and keeping building, and the fact that it can keep that momentum going shows it is likely to make changes. >> what are the other countries doing differently to better bridge the wage gap? >> there's a theory called the high road economic development which is based on high-skill jobs, good pay, and then there's the other road, which is like drive wages down as low as possible to make more profits, and i think those other countries more doing the high road. and when people have more money to spend. it stimulates the economy. >> and you would say the united states is taking the low road. >> most corporations are. >> and what is the impact on a
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country taking the low road. >> it lowers all boats. a situation where wages are being driven down lowers everybody's wages, so it's harder to get raises for people union or not. but what about the argument from these companies that say fine you want to raise wages, but that will make the cost of the hamburgers more expensive, and we may have to layoff workers. >> the layoff argument has been made for years and years and years, and has never proved to be true. it is a theory that doesn't play out in reality. >> it doesn't? >> there might be some here and there, but it has a minimal impact on the economy. if you get -- but the more wages in people's pocket has a better impact on the economy because people spending it and it generates jobs. >> what about the argument, though there the companies in terms of their profits?
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companies have a if iedishary responsible to maximize profits for shareholders, and if they say this is going to hurt us, why not? >> it's a fact of life. they have to pay for energy and a lot of other things, and they try to pay as little as possible, and workers are no different. >> you have got a lot of experience working with unions. why have the unions taken it on the chin, particularly the last several years, and it's particularly difficult to unionize low-wage workers. >> the answer to why is a long one. but there has been unprecedented assault. the political climate has changed, and international globalization, where you can move a factory where people are paid much less. >> does it matter that we have gone there a manufacturing-based economy to one that has much
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more of a focus on service type jobs? >> sure. service jobs generally are paying less, although that's what the folks today were trying to do something about. and unions in some of the service industries have made some great strides. >> for folks who are out there, thinking what does this mean for my family? what is the answer. let's say wages are raised to $10.10 like president obama wants? >> i think it's a shot in the arm to the economy, number one. what we see is -- a recovery that's -- we're hoping is going to keep growing. we'll get a shot in the arm. and i think that people who are like sort of on the margins or in the middle will see the pressure to go lower will start to stop. >> have you found information or data that backs up that people are also willing to pay a little
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bit more for certain services such as fast-food hamburgers in order to make sure that workers get a better wage? >> yeah, there are polls, but the biggest thing is the amount they would have to raise is almost always overstated by the corporations and it is usually quite minimal. a study on wal-mart showed they could raise the wages quite a bit, and maybe it would cost $0.49 a visit each time somebody shops there. >> ken is with the school of industrial and a labor relations at cornell university. thanks for coming in the studio. >> you're welcome. some investors of chipotle almost choked when they heard the salaries of the two ceos. together they were paid about $50 million. the super sized compensation lead an investors group to urge the shareholders to jekt the salary, and today they did. they voted against ratifying the
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current compensation plan. chip -- chipotle says it's too soon to say how the board will respond. we received positive news about the u.s. job market. the number of americans applying for unemployment benefits fell to the lowest level in seven years. the level is below what economists forecast. in april employers added 288,000 jobs and today's data could mean another month of solid gains. it's a man versus nature battling in california. wildfires are threatening lives and livelihoods. plus our voracious appetite for natural gas is running straight into aging infrastructures in
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cities with potentially deadly results. that story and more as "real money" continues. . >> on techknow... >> so, this is the smart home... >> saving the environment >> the start point for energy efficiency, is to work with the sun... >> saving you money >> we harvest a lot of free energy >> and so we're completely off grid here >> how many of the appliances were almost a little too smart for us? >> techknow every saturday, go where science, meets humanity. >> this is some of the best driving i've ever done, even though i can't see. >>techknow even though i can't see. >>techknow
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true business-grade internet comes even though i can't see. >>techknow with secure wifi for your business. it also comes with public wifi for your customers. not so with internet from the phone company. i would email the phone company to inquire as to why they have shortchanged these customers. but that would require wifi. switch to comcast business internet and get two wifi networks included. comcast business built for business. >>america tonight investigates a controverseal addition treatment. it could be a life saver... >>the reset button has been hit what is this teach us about the brain? >> can ibogaine cure heroin addiction? only on al jazeera america >> start with one issue education... gun control... the gap between rich and poor...
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job creation... climate change... tax policy... the economy... iran... healthcare... ad guests on all sides of the debate. >> this is a right we should all have... >> it's just the way it is... >> there's something seriously wrong... >> there's been acrimony... >> the conservative ideal... >> it's an urgent need... and a host willing to ask the tough questions >> how do you explain it to yourself? and you'll get... the inside story ray suarez hosts inside story weekdays at 5 eastern only on al jazeera america ♪ at least eight wildfires are burning in san diego county, california, scorching nearly 10,000 acres. more than 150 firefighters are trying to stop the fire.
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evacuation orders have been issued in some areas, and local schools remain closed. brian rooney joins us from san marcus, california. about 20 minutes ago we weren't shure you were going to be able to join us. explain what happened. >> about a half hour ago, we were waiting to go on live. there's a ravine right down here behind me, and we were keeping an eye on, and within about two minutes it came right up behieng me. and i was standing right there on the edge of the ravine. and the whole area burned out. so it was exciting for a few minutes there. >> how is southern california doing? are these fires in control or out of control right now? >> well, that's a technical question. they will give a percentage of how much of a line has been
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drawn around a fire. but you can get an idea as to whether they are out of control. some are, some are not. but even out of control doesn't mean they are necessarily burning anything. and i think what has been remarkable about this set of fires is how few houses it has actually burned. we're in the middle of a residential area, high up in the hills. there are houses all over the hills, and very few of them have burned. four confirm sod far. an apartment complex did burn, but the firefighters are doing very well. a lot of hospital attack, airplanes, and then they spread out in the neighborhoods, and protect neighborhoods. pretty much when the firefighters are there, a fire is not going to get a house. >> you have a lot of experience in southern california, how do the current drought conditions compare? and what are you hearing from firefighters about what they are expecting the rest of this
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season? >> you will very often get a prediction of a bad firefighting s season, and you just have to wait for it to play out. the fire season has come early, usually it is september and october. now we have it in may and june. so that's a concern. it's burning through the firefighting budget already. but this season could just as well go flat. just because it's bad now, doesn't necessarily mean it will be bad all through the summer. >> brian rooney reporting from san diego county, california. thanks for that report. the wildfires are the latest example of what could be a new reality in the area. bigger fire seasons that start earlier in the year, with increased loss overall to property and higher costs to the economy.
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california has had 1244 wildfires this year. and costs have also hit new highs. forcing the state to use emergency funding to supplement its firefighting budget. we have reporter for the orange county business journal. she joins us from irvine, california. and never mind the cost of the firefighters and state funds, as far as infrastructure, i understand the fires have been blocking roads in california. >> absolutely. yesterday amtrak and metro link train service had been interrupted as well. and roadways had been blocked in orange county and san diego count county. >> and what is the economic impact in those areas when roads
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are blocked and highways are impassable and commuters can't get back and forth? >> well, of course, people cannot get home from jobs and vice versa. specifically in carlsbad, structure damage, a city official estimates to be at $22.5 million. >> how does this season compare to others that you have experienced? >> well, this is not close to the big cedar fire that this area experienced in 2003 where about 280,000 acres scorched and lost about 2,200 homes. so it's still okay. >> you cover business affairs, business reporting. explain what the expectations are in terms of how this all -- the new sort of reality
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of will effect southern california's economy. >> well, of course -- of course news about the drought and the fire combination of those two is never good news on the economy. so we'll see how it plays out. >> is this a new reality? the idea that california -- businesses and computers are going to have to get used to the idea that fire season will be longer, there may be interrupts to get goods and services from point a to point b? >> absolutely. and that there may not be a job to come to. for example, in carlsbad, a diagnostic imaging company has recorded that its headquarters have been severely damaged by this recent fire. so 70 people will not have a place to go to work to. >> do you hear other business owners talking about their fears, and is this becoming a bigger topic of conversation in the business community?
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>> in orange county, not specifically. >> okay. and any expectations about what you expect to see in this fire season in terms of the economic impact? >> well, definitely, it's going to have an impact if it plays out this way as it is. this is supposed to be the rainy season, but it's not. it looks like fall all over again. >> thanks for joining us. recall plagued general motors is doing it again. recalling another 2.7 million cars for a variety of problems involving brake lights, power lamps, and wind shield wiper. gm says it will take a $200 million charge to cover the repairs. this follows the recall of faulty ignition switches linked
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to at least 13 deaths. the auto industry is on pace this year for a recall record. attention shoppers wal-mart is looking for you. the retailer used the harsh winter weather card in explaining poor first quarter sales. they say profits fell 5% from a year ago. and they issued a very lukewarm outlook for the future. it's a border battle with billions of dollars of opportunity on the line. coming up a look at the money america might be losing without immigration reform. plus the new technology that has uncovered a very old problem, our out of infrastructure, we'll show you how frac-ing and need for natural gas has made it even worse. you are watching "real money." ♪
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real reporting from around the world. this is what we do. al jazeera america. ♪ >> president obama this week tried to ratchet up the pressure on house republicans to pass an immigration reform bill. he said they have a window of two or three months before the midterm elections make it unrealistic. the senate has passed a bill. the president isn't the only one
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applying pressure on house republicans. tom donohue spoke out this week and had this stern message for the g.o.p. >> we're absolutely crazy if we don't take advantage of having passed an immigration bill out of the senate. if the republicans don't do it. they shouldn't bother running as candidates in 2016. >> a new report found that companies in both the united states and mexico would benefit significantly from establishing a frictionless border. richard joins us now. richard welcome to the program. what is a frictionless border? >> well, we have created a border that is filled with friction. i live part-time in toronto. bossing that border -- and i'm an american, but crossing that
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border is an inintegration zone. and when you think about it, combining the united states, mexico and canada, building an integrated north american economy which could leverage the knowledge base of the united states with the energy fortunes with great countries like canada and mexico, it would create an unrivalled powerhouse. we have got to do it. >> explain for somebody at home how does it work? >> well, just in the san diego area, where we are did this study from san diego to tijuana. a region producing about $200 billion in economic output, you know, we're losing a couple of billion dollars a year because of that border -- actually $3 billion a year because of that border, and it makes no sense. san diego has technology. advanced knowledge-driven industries. over in tijuana, you don't have to make stuff in china.
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you can make lower costed manufactured goods right in the region. but the boarder is so backed up, the trucks can't get across. tens of thousands of trucks that can't get across, and it's a tremendous inefficiency and waste of money. >> and inefficiency is a productivity cost. what about for business owners? >> it would enable us to have commerce without all of the hassles and hangups. think about this just from the point of view of the united states. people complain labor costs are high, manufacturing -- having access to a great manufacturing base in a place lite -- tijuana, for those products that are being competed and eroded with the chinese market, having this for u.s. companies to leverage, and of course what is happening in mexico now is it's getting economic development. wages are rising, so it builds a
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cycle of competitiveness, benefiting business, but also benefiting american consumers and workers over time. what about the issue that tom donohue seems most worried about and that is immigrant labor. they want some settlement to know here is what we have to do with immigrant labor. >> if you ask me what is the corben fit of the united states, it has long been immigrants. in silicon valley a third of those high-tech businesses were formed by people not from america. what is going to make america competitive is keeping our borders open for trade, and this flow of talent from all over the world, that flow of talent, we have got to get immigration reform done. >> but there are also people who are against immigration reform who would say, look, the cost of security issues would also be
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severe; that if you are allowing people who have broeng the law, that if you have a porous border, we're going to pay one way or another because of potential security breaches. do you buy it? >> there are smarter ways to keep on the lookout for bad guys than stopping everybody and queueing them up. it is crazy what we're doing. in the name of homeland security, we're eroding our economic security. use technology. make people -- i have a nexus card or global entry card, but this idea that you are backing everybody up and causing these log jams. we're wasting money on something we know is not effective. >> has the eu provided a model for us, because their borders are much more efficient. >> i think they have. we are dealing with canada to our north, and mexico to our
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south. these are good neighbors. they are our friends. i mean, it makes no sense to erect the equivalent of virtual fences -- and we worked with the people at san diego, the business community of san diego knows how important this is. the business community in detroit and ontario knows how important this is, they want it. they are dying for it. but our government has a one size fits all policy that is all about, again, unfortunately, homeland security. not economic competitiveness. yes, we have to secure our borders, but let's think about our economic future at the same time and balance those concerns. >> richard is the founder of creative class group. thanks for coming on the program. >> thanks for having me. america's energy boom has uncovered a very complicated problem. see for yourself. >> in big cities like new york you have these layers of
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underground pipeline from water mains to phone to electric that make for a very muddled and expensive process of removing and replacing natural gas lines. plus more of ali velshi's one on one with former presidential candidate ron paul, and what surprised the libertarian about young americans today. "real money" continues right after this break. ♪
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primetime news. >> welcome to al jazeera america. >> stories that impact the world, affect the nation and touch your life. >> i'm back. i'm not going anywhere this time. >> only on al jazeera america. consider this. the news of the day plus so much more. answers to the questions no one else will ask. >> it seems like they can't agree to anything in washington no matter what.
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♪ >> a 40-foot geyser of oil sprued from a busted pipeline earlier this morning in los angeles. about 10,000 gallons spilled into the streets. it forced five businesses to shut down, one of them was a strip club, which had to be evacuated. none of it they say leaked into the los angeles river. the incident today is shining
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another spotlight on the condition of america's infrastructure. by most accounts many of the nation's older pipelines are not up to snuff and prone to leaks, and the consequences can turn deadly. but fixing the problem costs tens of billions of dollars and could take decades. we examine the benefits of cheap natural gas as well as those dangers hidden just below the surface. >> reporter: for ed donly a real estate executive in manhattan, the choice to convert this apartment building from using oil to natural gas seemed an obvious one. he made the switch last year at a lost of nearly $3 million. so far this building has achieved approximately a 47% savings by converting from fuel oil to natural gas.
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with the recent energy boom that has driven down the price of natural gas, many businesses and governments are also looking to make the switch. this seems to be the wave of the future. pipeline expansions in states like pennsylvania where production has ramped up over the past two years, are also bringing more gas online, reducing cost and feeding consumer demand across the east. >> were it not for the additional natural gas coming in, a few years we wouldn't be able to meet demand. >> reporter: switching can cause problems, in cities where many pipelines date back to the turn of the century. >> they have cast iron pipes, and they are much more likely to
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leak than newer plastic pipes. so that is one of the concerns. >> reporter: one spark is all it takes for an explosion after a leak. more than 6,000 miles of pipelines carrying natural gas run beneath new york city, nearly half were installed before 1940, when cast iron and unprotected steel were the order of the day. and that raises questions about how the infrastructure will handle the energy boom. the big problem is cost. in big cities like new york, you have got these layers of underground pipeline from water mains to phone, to election, that all make for a very expensive process of removing and replacing. here in manhattan it costs about $2,000 a foot. but when you get out to rural areas the price drops to about
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$300. replacing it all could take decades and cost around $10 million. at the current place efforts to replace all leak prone pipelines in philadelphia could take as much as 80 years. and without upgrades soon, analysts say the emphasis on gas may bring more incidents like what happened in east harlem where a gas leek leveled two apartment buildings. the gas main was 125 years old. joining us now to discuss just how sustainable the energy boom is here in the united states, giving the aging infrastructure is michael weber from the university of texas. he is a professor of mechanical engineering. he is also the executive
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producer and host of the pbs series. there seems to be a conflict between our appetite for energy and our infrastructure. how great a problem is this? >> yeah, there is a gap. our boom is really taking off, which is great news. but the pace of our infrastructure investments have not kept up with the boom. and that introduces safety and environmental risks. >> how much has frac-ing contributed to that misalignment in terms of fuelling the natural gas boom that we have. >> frac-ing has been the main enabling technology. and it has created a glut of natural gas. so natural gas prices are low, which means we want to use it, but we have to move more gas to our end users in pipes that are pretty old. sometimes the gas is flowing different directions.
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so our infrastructure is not designed for today's energy production, energy needs. >> and given that it was designed for an older system is there a certain responsibility that you think some of these companies have in terms of helping build up the infrastructure that is carrying their gas. >> that's a good question. they are different companies in many cases, so we need to get everybody involved. government plays a role in funding infrastructure. so we need to reinvest, do it more quickly, make it more safe. we need government and the midstream companies who build the pipeline and the oil and gas guys, they all have a stake in getting it done the right way. >> if we don't build up the infrastructure are we going to see more incidents like in new york and other cities like that as time goes on? >> that's the risk.
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natural gas burns really easily, and that's a nice feature, but it's also a safety risk. and we can have environment risks from spills, and if we don't build pipelines we might find ourselves flaring gas, like is happening in north dakota where about a third of the gas is flared because we don't have the infrastructure to get it to market. it's all bad news if we don't have our infrastructure up to the standards we need and with the right resiliency. >> i want to ask you about the environmental impact of some of the spills, whether it's los angeles or the gas spill, how serious of an environmental concern is it? >> it's a real concern. it's a manageable concern, it's an avoidable concern.
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but it's a real risk. any time you do any energy production or any energy consumption, there's an environmental risk, so we need to make sure we manage and reduce those risks as much as possible. and that means inspections, good materials, and doing it the right way to avoid spills. >> and the other risk is methane leakage. a lot of environmentalists say that can be worse sometimes than coal. >> sure. yeah with the liquids you have to worry about a spill. with gases you have to worry about a leak where gases get in to the atmosphere. methane is more active as a greenhouse gas than carbon dioxide. so we have the safety concerns and the environmental concerns. and economically that's wasted product. it doesn't make sense to waist
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it. in terms of the overall environmental impact. natural gas is better for than coal from a climate perspective, but if you leak too much, some of those gains are lost. >> dr. webber thanks for being on the program. >> thank you. add home builders to the list of people who don't think the housing market will turn around very quickly. it's the latest indication that the housing market has lost momentum in the last several months. right credit conditions and financial instability are dragging down sale. he is the political renegade who somehow stuck a chord with voters less than half his age when he ran for president. >> the jobs, the good jobs aren't forthcoming.
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so they know there is something structurally wrong, so there is a good appeal to young people to say well, maybe we need to think about the whole system. >> plus campaign finance in america, and why it's tough to find out who is trying to buy influence in washington today. that's ahead. ♪ jazeera.
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>> only on al jazeera america. >> oh my!
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>> before there was rand paul, there was ron paul, rand's dad and a libertarian folk hero. while the son is a senator who may run for president in 2016, the father isn't exactly fade going the background. ron paul remains outspoken and makes his opinions known loud and clear. you can find those opinions on some of the content is free and some requires a subscription that constitutionals $9.95 a month. ali velshi sat down with ron paul this week. >> i was delighted with it, matter of fact it was sort of surprising, because, you know, i took a position which is a libertarian position that you
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have to be responsible for yourself, and most people paint young people, well they are totally dependent, the only thing they care about is student scholarships and loans, and what is the government going to do for them? and there's plenty of that. but no, the students when you offered it up to them, they were very open. but i think conditions helped me on that. not only was i firmly believing in what i was saying, but they are also seeing the failure of the system that they have been involved in, and because of the crisis of the last six years, we know about the debt the students are, you know, undergoing. they are getting out of college, paying a lot of money, they owe this debt. they can't event gept out of that debt like other people can. and the good jobs aren't forthcoming, so they know there is something structurally wrong, so there is a good appeal to young people to say maybe we have to think about the whole
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system, rather than just saying how can we patch this up and get another approa approach -- appropriation, and overconfidence in government just means you are going to get more government. >> but this is an interesting idea. because a lot of those young people are not necessarily conservative in their approach to things. they worry about the economy and they do want perhaps some government leadership on that front. and probably want government leadership on the environment and other concerns. they are sometimes interventionists, they think america should have a role in dealing with some problems in the world, and yet you were running amongst conservatives. the libertarian message seems to fits more comfortably amongst conservatives than liberals. >> i'm not convinced of that. i believe the message of liberty
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is appealing across the board. and when you present it to them that you are not going to be judgmental, except one thing we want our freedoms, but if you want to use your freedoms to do something i don't approve of, they don't see me in attacking their standards in what they want to do, of course you can't take advantage of others, cheat, or defraud people. and then they see this as less threatening. so theoretically, you should have as much appeal to liberals as to conservatives, because liberals were supposed to be -- sometimes they come up short on defending personal liberties, and liberals were considered to be more anti-war, which i think is questionable too because it's so mixed. but if there is a principal
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progressive, i felt very comfortable and excited in working with them. dennis ka sinnage, and ralph nader, and even bernie sanders, because they based their beliefs on basic principles, so that's why i think the message of liberty should be appealing across the board. there is a quote that nixon made one time. he says we're all cane see ans now. he was right, but it was philosophically, they were caneseeians. so they are all caneseeans. so i see it in philosophical terms. and it's not so neat. >> you are from an elect ability perspective the most compelling
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libertarian who has run for presidential office in a very long time. and yet you hit ceiling there. why couldn't you get -- you were so compelling and in fact on a hot streak for a while. why does there seem to be a ceiling for a libertarian candidate? >> well, i don't believe there is. i believe there's limitations from the coverage. but for instance when i was hitting the peak, we had a debate, and i had 89 seconds in the whole debate. and my supporters that were very much involved were a lot more critical. i always try to say it's politics. that's the way it works, but others were pretty critical about the whole process, hot it worked and what kind of things i
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had to fight -- like during the convenings, there were conventioned that were closed down. rules change. you take a state like maine, they just threw out our delegate. but in spite of that type of thing, i figure that goes on all the time in politics, and it's dirty politics, the part i didn't like, but ultimately the reason i can tolerate that is i think ultimately it is a philosophic fight that we're involved in. i don't want people to say we're all caneseeians. >> the federal communications commission proposed new rules that rule out internet service providers to deliver fast lanest. today more than 100 activists protested at the scc, and four
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people very escorted out of the meeting room for shouting protest. it leaves open the door to fast lanes but not specifically banning them. the plan is now open for public comment for four months the final rules may be modified and adopted in the fall. coming up we'll tell you about one part of the economy where inflation is out of control. that's when "real money" returns. ♪
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>> i'm ali velshi, the news has become this thing where you talk to experts about people,
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and al jazeera has really tried to talk to people, about their stories. we are not meant to be your first choice for entertainment. we are ment to be your first choice for the news.
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congress comes back into session on monday and that got us thinking about the influence of money and politics. so we looked at the latest day to on financing federal elections. spending by groups not required to disclose their donors is going through the roof. these groups are known by their tax statuses, they have become an increasingly attractive place for wealthy individuals and corporations to influence elections. in the 2006 midterms, these non-disclosing groups spent just $5.2 million. in the following midterms in 2010, the total spending rose to $131 million. in the 2012 presidential
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election cycle the total tripled to $311 million. and now despite 2014 being a midterm election, spending so far by non-disclosing groups is three times higher than the presidential cycle of 2012. it means more money, more ads, and less information for the public. it's up to congress to pass campaign finance disclosure laws. oh, well. we're back tomorrow night, of course, but we want to give you the early scoop on a new series we're working on for next week. philadelphia's rocky middle class. almost 400,000 people have left philadelphia. 43% of them were in this economically important group. so we're going to take a frank
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look at the current state of philadelphia's rocky middle class next week on "real money." that is our show for today, i'm david shuster if for ali velshi. on behalf of the entire team at "real money," thanks for watching. ♪ >> hi, jeff, welcome to al jazeera america. >> atrocities car bombings, chemical weapons and a new global push to end the horror in syria. >> outrage of protestor kicked by an aid to turkey's prime minister, as turks bury the dead after the coal mine disaster. ink person know, dozens of wild fires in bone dry southern california, a look at the science fueling the flames. cancer killer, why a