tv [untitled] October 4, 2021 3:30pm-4:01pm AST
is lay down there 5 years on a bit, rising defense and the brutal police repression. a new like a divided has the nation. people in power of if the agreement is failing and what's next, the country columbia, killing the piece on al jazeera lou . hello again. i mr. you tehan dough at the headlines for you here on al jazeera, if you appears prime minister abbey off med has now been sworn in for a 2nd time. he's facing some of the biggest challenges of his political career, including conflict and t gray, and the recent kidnapping of nearly a 150 people in the west of the country. so don's government has warned that country is about to run out of medicine, fuel and wheat because of the closure of its main port. protesters have blocked
roads around port sued on against poor economic conditions in the region. mama today has more now from the eastern city of ports. you don, very little activity going on on hold sit on the beach. a tribesman will pro testing well the whole mach generalisation by the government. but it created the gates to the whole with huge rocks and also have lined the gates to the polt with protest. this was holding homes through sure that nothing exists or nothing, and post the port. there was a little aggression from the government led by competent ministers. i'm the only thing of the base of negotiations that they were able to go back with was yes to the export tusham of salts, sudanese oil from these poll. now a un investigation says all sides and libby as conflict have committed violations that may amount to war crimes. it details, accounts of murder, torture,
enslavement and rate. libya has been marked by conflict since the death of its former ruler, mama gadhafi it back in 2011 with rival administrations fighting for power a leak of financial documents i had exposed what said to be the secret assets and dealings of some of the world's richest people how they include jordan's king, the presidents of russia and as a by john, as well as a former british prime minister. jordan's royal palace has denied that any improper purchases were made. saying that the king had personally purchased the properties and no funds from the state budget or treasury had been used in the palace as these properties and not publicized out of security and privacy concerns and not out of secrecy or an attempt to hide them to american scientists have been awarded this he is a nobel prize for medicine. david julius and adam passive poosey and were singled out for their discoveries and receptors for temperature and touch. while those the headlines, i'll be back with the news out for you here on al jazeera after the 2nd part of
witness. thank you. sure. by you, i'll see here and i an app a call come on being with the largest real estate, private equity firm in the world. we've got investments and people around the globe, but by keeping our business entrepreneurial we can move very, very quickly. john gray. i said global head of real estate for blackstone group, which is the world's largest private equity manager. so one of the market you went into was a single family homes. and i know you have a big portfolio that 50000 or yes. how do you even find 50000? yeah, the buyer. you need a global financial crisis for that to occur. you're sitting around in 2011. you're
saying, where is there a large pool of assets that are going to be sold by financial institutions at big discounts to underlying replacement costs. and it was pretty obvious. it was single family homes like spend $25000.00 or so fixing them up. and then let's random out and make income producing assets out of them like an apartment business, but just not in one large complex, but if we do it in enough scale, i was just poking around, trying to get my head around some of the stuff around hedge funds and buying app distress, mortgages and all of that. and i went on to the blackstone website. i, i've worked with bruce for more than 20 years. he's an advocate and i think so differently than anyone. i know. so basically by a whole neighborhood, gentrify the whole thing, double or triple the value of the real estate,
just because you're trying to find the neighborhood. of course, everybody else are and makes no mention of people, really at least at least that by minute. 16 and a half, he hasn't mentioned like the people that would be living in those places. we own properties around the globe. we buy these investments on behalf of companies like wax own, or any the big financial enterprises were the big winners in the crisis. ah, there with rick winners in the housing market. ah, there wasn't big winners in the equity markets. it was as if the u. s. government, rather than helping the homeowners who were losing their homes, actually sided with the banks, encouraged foreclosures to clean up the books. gave the money to hedge funds and, and private equity firms who then bought the, the distressed assets to make money. so it is the way that the 2000
a crisis has played an important role, increasing wealth inequality in united states and, and other countries that have been afflicted by the crisis. ah, it doesn't totally work as the statement yet. let me give you a snapshot of the new world of housing, and while i do so, i urge you to reflect on the images behind me. just like that. like, i can't remember how we did it with the homelessness report. but i remember when i was re reading my statement, i did have that if a pin dropped, we would have heard it in the room, and that's what i need because they know half the time they're on their blackberries and not paying attention live there. i phones, i suppose now, you know, i mean homelessness is a bit different to, you know, we're seeing images of people. and part of the problem is that when you're describing the stuff is supposed to be shocking, it's all cranes and buildings of glass and stuff. and so you're not moved to in the
same one, distinguished delegates. we are living in a new world, a world in which the housing sector has been transformed by global corporate financial actors and massive amounts of excess global capital. global residential real estate is now valued at $163.00 trillion dollars. more than twice the world's total g. d. p. housing has been financial ised valued as a commodity rather than a human dwelling. what i am suggesting is a significant change away from the commodification of housing in order to retrieve what housing means in terms of human dignity and security as a lived experience, as a human right. thank you. and, and,
and, and, and, and a little thing for the near buildings, the new estate which now called elephant paul, which replaces the high guy state where i used to live with like so many, all of them. when you flatten as part of the development you sold in hong kong and singapore, when that sold overseas, they're not necessarily. so for people to live in this old as invest wouldn't like to sort of romanticize what it was like before. right? but it was an ordinary counselor, despite all to ordinary families in it was at this time of day, most of them would be enough to walk and off to school, read to college and so on. ah,
we're dealing with a very, it's a very particular perry, the elite feel free to violate basic laws. and ah, and then they're surprised that there is bitterness among their the working classes that have lost an incredible gra, i mean, a lot of ground in our society. so it's a tough moment. and that following the money brings up a lot of very substantive reasons. as to why people are so angry, they don't know exactly. they don't have the knowledge, but they know that something is not right. my own work was concern about asymmetries of information. the fact that some people know things that other people don't. and that gives some people the ability to take advantage of others. ah, you can make more money. not by making a better product on lowering cost to production, which is the standard economic analysis. but by fishing for fools
looking for people you can take advantage of or not creating wealth, or actually just taking wealth. if you're somebody like the head of blackstone, i've heard of dog on the big advantages of no regulation of deregulation. course he wants to be able to exploit the people who are living in his properties. ah will left hand corner yet one flak was then i say bought my flag. so i own that flat unpaid my mo gates. the problem is the price is round here. in a foot in
a ground floor. any, any flat round here is ex dosma. yes. and they wanted to give us like a little bit of money. i say of you go. but then i left the mover of london. so i decided to stay with friends. most of the people that lived in that town block are still not been homes. 9 months later, 9 months later, i am now in a hostile it, the place that they could offer me could be anywhere in the country. and if i don't accept it, i become intentionally homeless anywhere in the country. well, yeah, i mean, it could be birmingham, it could be manchester anywhere. if you can treat people after a tragedy like that, the way they're treating them now. while health does anyone have lou?
i was picture myself like i'm 5 foot to i'm from this like nowhere place. and i'm trying to make a huge difference globally. i'm trying to change an entire conversation that's embedded in the way people live all around the world. and then i look back at that girl from ottawa, i'm sitting in her basement office and it's like, what am i thinking? i am i like, is this ridiculous? am i being ridiculous to a it is a totally dysfunctional system. so in the late 19
seventy's 19 eighties, there developed a, i've called an ideology or religion that mark you solve all problems until the big winters still be big loose in the name of the common should the winnings be redistributed to the losers to the end? if everybody ends up where he started, it would take on the little fun out of getting the high priest was built friedman. the big experiment was truly underpin o'shea. it took their dictator to really implement these ideas. they thought that if we privatized to way regulations, lower taxes, growth would go up, everybody would get more, some people get a lot more at the top. but putting aside envy, everybody would, and a bigger piece of a ignored the many
instances where markers do not work well. it was so bitter. freeman gave them economic argument for why they should be unconcerned about morality. after a 3rd of a century of this experiment, we know that it's wrong that you can make money by destroying. busy the world, and there's something wrong with that. ah, if we're going to defend the cities as we know them, i can't do it alone. i decided to create
a new movement called the shift so that we can come up with ideas of how to protect our cities. so it's not an angel movement. it's not a movement of just cities. it's a movement hopefully of all stakeholders. you know that i don't getting to be launching the ship here in barcelona, where the effects of financial i station have taken hold. and where there is a mayor like attica laugh. i hired a young woman, julie, who had a background in international human rights, god patent bases and move them up. one 3rd of dest worldwide are linked to poverty and inadequate housing. get, yeah, a world wide movement to reclaim and realize the fundamental right to housing. and bring people far thought of exports here, that if he knows that i feel them are helena,
if the quality on gonna be be in the latin, if you feel, you know, but i see there was gram this got the dallas gamma waitress in december come in most a few that but as i got maxine was when, if you see us i pushed the speak will are gonna be in the premium if you see that look like i'm i've been looking at them blackstone, the largest private equity firm. they have more power than the state if you know, how are you? yeah, you know exactly. you're crying when we have some of these edge pounds trying to speculate them to say they want to buy it a building. you buy it for you, but we do it because we have money and it's a lot of me because i got the expensive. i'm interested to know how the investor is vulture, funds the hedge funds, air b and be, are reacting to what you're doing in the m. b is when rex, you know, we, we ludo moments. we had
so the question is are you out for it now? okay. ah. 2 the big private equity it has taken me some time to ask the question, where are they getting their money from? ah, pension funds have a huge amount of money and they need to grow in order to make sure that the people who pay in to the pension fund have something to live on their working life. mm. my mission to south korea was grand. well, before i had this one piece of information,
but some of the largest pension funds are right here at the national pension service, is the 3rd largest pension fund in the world. it was one of the poorest countries. and now in the 11th largest economy in the world, in 50 years, that's pretty impressive. but of course, to make that happen in a 50 year period required a kind of brutal ism of massive development. you have to go with the more difficult, though? no, it's hard to go with them. you don't pay you thought you. i always will. you said you will do is a will close. there is a will on union you got hold on, do you do you do packaging on time? little for to go good. love on it, could you when you come out of
a little you don't lose mobile device or we do reach out to me only as well and then the pay to talk will go in to that i'm a parent has oh no one seems to know that that's where their pension money is going. no one seems to really care. i did speak with a couple of representatives from the national pension service and they were pretty matter of fact at 1st about you know what they have, what their job is and i get it. their job is to grow money for pensioners. we give our money to asset managers and they then decide, or where it gets invested, ended, so distancing themselves from it. so in other words, it doesn't really matter where the pension money's going, as long as it's
a good return. national and city governments in south korea need to make some major shift before they will be in full compliance with their human rights obligations. you know, human rights law is very specific about those types of projects, forced eviction under international human rights is considered a growth, violation of human rights. people die enforced evictions. and people's lives are basically ruined. so it's not to be taken lightly. ah, poor issues, you know, climate change housing, they ought to be bedded into the fiduciary frameworks of ranch farms.
pension funds are representing people who are going to retire in the you have to ask, how would they feel about this? would they feel comfortable with only shares in a company that is that immoral? ah, i've lived there 38 years. i've paid my redbird 38 years and they're supposed to upkeep the building. they're supposed to do stuff, but the management company, as i readily admitted, there's been nothing done for 40 years. so where is all that money i've already spent? and now the new company wants me to give them more money is a familiar story, but yeah. is this the same situation? is the same situation we were dealing with here. so yeah,
talk of the media. and this is how we the wrench, right? correct burg here in the 1st month of the rent strike and we were, we went in a month floor, so it's a bit of a hall, but it's worth all your time and effort. so i'm sure some research, we've discovered that this property management company has investment companies that have certain shares, and one of them turns out to be a 28 government pension fund holder. so imagine you have george here on the pension, and they are taking care of money for pension holders, right? wait till they find out that somebody who's on a pension is being extorted and they're, they're pushing them out. i get back tuesday night. that kind of thing. you know, we're doing the shift meeting and then the mayors are going to be there and now it's pretty cool. i feel i li, you know things can go sideways. overwhelmed?
no, i don't feel a very nice to me to a with me look any other corner. so i would, i think it, we have come together. we've cds, we've partners. we look at government associations to build partnerships in been even came to be at the end of being a freshman mission. we have a sponsor going up. i'm sure everybody knows who you chose them. you. ms. neal was
good to know that this will go to law, shall ga. gov. you bob, get windsor bush oh choker yogi. 30 las vegas and we bought them from dr. young comes out. appleton cursor massage, pretty high family. the if you did, donna. jesse. what you around this table do can have a huge influence. it can guide other cities to prevent powerful financial actors. and they are powerful from dismantling cities as we know them. we thought a lot about about whether us, right, the right time for new york to sign onto this declaration. and we decided it really is. i mean, these are issues we're all grappling with. we do feel like it's a great opportunity to be a learning from each other, so we're very excited to be part of this. thank you. back
with any pictures of you? no idea. anyway, we do need to do. we should do another piece. now jane deadman is back from the guardian. i wonder about taking another kick at the cam on financial ization. i think with the one thing the one take away that they should know is that cities around the world are shifting and publicly doing so. and number one mm mm. oh.
when ask and filmmaker hassan fuzzily catches the taliban attention? abound he, on his head, forces him to flee with his family, desperately seeking sanctuary. they journey across continents chronicling their multi year saga on their phones. midnight travellers. an odyssey of hope resilience and ultimately one family's love for each other. witness on al jazeera. ah. it's another beautiful sunny day. a 35000 feet. the weather sponsored by cattle
airways, boated world's best air line of 2021. hello, let's get going with your weather forecasts for the americas for monday, october the 4th. we've got a batch of some pretty heavy rain for the new england region. so this will plague boston with a high of 17 degrees. going to western canada, we could see some daily records broken in the province of saskatchewan rejoin up to 26. it's drive for now in vancouver, but the next system or swoop in on tuesday. also some pretty high temperatures for california, san francisco coming in at 24 degrees wall to wall sunshine. the risk of seen some flash flooding for alabama. look at this cluster of cells pop up there. so we'll be watching that carefully. now for central america also seen some big storms bubble up across so jamaica, and also the eastern portion of our cuba into the bahama. some pretty intense rain can be found at times for the top end of south america. the rain is piling up for the pacific coast of columbia and show your frontal system as well that we're tracking so south of it. we've got that cool air in play north of it,
look at the heat rio de janeiro, but it's coming your way. so watch what it will do to the temperatures, but look at some of these torrential bursts of rain that we'll see. so speaking of rio, your temperature goes from 33 to 23. so those thunderstorms definitely really cooling the atmosphere. that's it for me. see soon, the weather sponsored by cutter airways voted world's best air line of 2021. on counting the cost angle americans legacy and german economy, that is the envy of the world. but unprepared for the digital age, apple kicks out game make an effort from an app store is defined, make it abusing its monopoly and afghan businesses and losing international customers. counting the cost on algebra cutter, one of the fastest growing nations in the pony. cato needed to oakland and development international shipping companies to become a key, middle east and trade learning skillful in 3 key areas of
develop, filling up from connecting the work future. while the carto cutters gateway to whoa trade ah, bold, and i'm told stories from asia and the pacific on al jazeera. ah, this is al jazeera. ah, hello there, i'm this tells you tan, this is news outlined from our headquarters here in durham, coming up in the next 60 minutes. if you appears prime minister, i'll be off ment is sworn in for a challenging 2nd term as that conflict in the northern te gray region wesson's.