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tv   [untitled]    April 6, 2011 4:00pm-4:30pm EDT

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contingency plans for the shutdown have been made meanwhile capitol hill appears to be in chaos. why is everyone moved into crisis mode we don't know if a government shutdown will really happen so is this panic justified or is it just hot air blowing out of the mainstream media because if you're worried about the government's financial fallout it's possible you see nothing yet. and what if the u.s. can't get its books together what would happen if u.s. lost his golden aaa credit rating people started boring uncle sam couldn't pay his debts back. i'll be. have accidentally killed your family.
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looking back at iraq and outrage over the toll of u.s. airstrikes killing civilians patients from american eyes are we think deja vu with libya. it's wednesday april sixth four pm here in washington d.c. i'm lauren lyster you're watching r t now u.s. lawmakers and president obama continue to haggle over the two thousand and seven budget cuts they cannot agree and the government shutdown looms now this has been one of the talk doom and gloom stories on the mainstream media for days now and the president getting into it too telling the public about the cost of a showdown take a look. you better start thinking differently because you know if you need a passport can't get it and planning a visit to a national park or monument to bad can get there contingency plans for the shutdown
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have been made we were all capitol hill appears to be in chaos this is not happened in fifteen years what does this potentially mean for the american people with when the economy is just beginning to grow where we just store and see a pick up in employment the last thing we need is a disruption that's caused by a government shutdown. here's our question is this really the big deal everyone is making it out to be well joining me to answer that hopefully is economist and financial analyst max rajpal joining us from new york now max from the now with us i'm looking at today global markets don't expect the shutdown to last one if you days the u.s. treasury will continue to hold debt sales so continue to finance its operations i mean aside from closing a few hark then maybe a few days off work for people doesn't seem like it's the doom and gloom scenario it's being made into am i wrong. no i mean i think it maybe being slightly blown out of proportion at some point some of these news stories are all but suggestive people stocked up on shotgun shells water flashlights and of course that's fairly
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ridiculous in a number of ways i think there's still a very good chance that we'll see a last minute deal tomorrow and or we'll see them kick the can down the road because that is a bit of past time on budgetary matters in washington for a long time and to another stopgap that gives them another seven or eight days i think it's symbolic value about the lack of compromise the lack of ability to work together on the serious fighting over symbolic positions ahead of the election cycle for two thousand and twelve is probably more alarming and more of something for people to worry about even though the government being shut down for a day or two which i still think is in no way a sure thing well it's interesting and an interesting point you make about symbolism because i want to look at even what these cuts are that they're debating right now i do believe we have a graphic that shows what portion of the budget this is if we could bring that it's just when you look at the pyre the budget is such a small portion that they're looking at well these are the things that actually it would mean if there was a shutdown in there you know parks passports wouldn't be issued those kind of
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things that's kind of what the media is playing up but i want to look at what's not being discussed and that's how small this portion of cuts is of the actual budget and that's my question to you obviously you can't see it but the you know thirty seven billion dollars that they're arguing over is a tiny piece of the pie is this argument in the gridlock that oh yeah does this take away from the live of our budget that yeah that's nothing that's nothing to the takeaway from the bigger picture which is the toll of our debt the continuing borrowing the continuing spending the fixes like quantitative easing that come at a really high cost. well little of a dress rehearsal for what are going to be bigger bigger massive fights about the four trillion dollar twenty twelve budget and also how to respond to the debt ceiling the fourteen trillion dollar debt ceiling that we're about to go crashing through unlike many other ceilings that's not a ceiling you want to really go through that's not something we should have never been forced into the situation of having to debate like we are right now i do think that part of the reason we're seeing this much fighting over it is because it's
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pretty clear that the republican party at the federal state and local level is going to run as the budget cutting party in two thousand and twelve for state houses and senate seats and house seats in the presidency and this keeps them front and center in the news on that subject in terms of the thirty to forty billion dollars that they're fighting over here it's nine or ten days of budget deficit so it's a very small number given the four trillion dollar government budget we're going to have for next fiscal year two thousand and twelve on the other hand because we never really deal with a touch of the eighty nine eighty eight percent of the budget that's non-discretionary it's a bigger piece of the discretionary spending and both sides have a large it up their proposals with ideological things to excite their bases which are making compromise impossible which would which is going to have a pretty significant symbolic value if nothing else and i would also add that most people aren't covering but depends on how long the government stays down how big of a deal it is and it shuts down for a day and resumes that's one thing if this gets worse and worse and the impasse cascades over several days then we're going to have
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a slightly different thing we need to debate here on your and other shows right and really quickly i want to ask if you talk about the debt ceiling isn't that a bigger debate that's just down the road that's a lot more important i mean if they can't get that debt ceiling higher i mean when the u.s. would actually default on debt i mean that's what's at stake that's a much bigger deal bright. well if they couldn't actually get the debt ceiling raised which i think is fairly improbable a little bit like not being able to get a budget then what you actually have not so much as you know. we have a situation in which massive emergency cuts would be made in the helter skelter disorganized fashion and that's what everyone wants to avoid because no matter what your ideological commitments are having a dysfunctional and disorganized american government on display for the world for many days and in many ways is the worst possible outcome whatever your priorities for the budget might be for the years to car and it's really doesn't help the image of the united states about taking care of its financial house and that does have implications the debt does have bigger implications and one is the credit rating and i want to take a look at a piece on what it would mean if the u.s.
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actually lost its credit rating or it was downgraded of take a. while u.s. lawmakers in washington over the budget and hurled blame across the aisle for the gridlock calling opposing colleagues relatively small stream group of india logs who are an anchor dragging down the budget negotiation process give me a berth another group of decision makers has been weighing in on the did be one of the country's top credit agencies telling the feds something has to get done on this debt ratings agency standard and poor and movies have been warning for months that the u.s. debt could threaten the country's golden aaa credit rating telling investors in u.s. bonds essentially they may have to worry about getting paid the u.s. debt problem is big fourteen trillion dollars big meanwhile the solutions lawmakers are coming up with to solve this problem are small this tiny dot represents even the larger sixty billion dollars in cuts republican lawmakers originally proposed
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meanwhile the u.s. government each year continues to spend a lot more than it takes in resulting in more than a trillion dollars in budget deficit so with all of this there rating agencies as unsustainable and concern and if that half the u.s. has been on for a wattle forty three cents of every dollar we spend this year. we borrowed against the future of our children continuing on this trajectory of borrowing and spending however would not be an option according to financial analysts if the u.s. was downgraded so what would happen but it would be another crisis economist max fraud wolf says even putting the u.s. on official downgrade watch would be devastating it would create global shock waves in part because most models and understanding of the global investment landscape including landscape take is their sort of central banker with us ten year treasury bond as the risk. and if that asset goes from risk free to risky for us bond
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holders like central banks and investors all over the world so goes the stability of currency as just one example and so goes the low interest rate the u.s. pays to borrow money as it is the interest the u.s. pays on its debt is staggering it was one hundred eighty seven billion in two thousand and. four increases to eight hundred forty four billion that number would grow exponentially faster with a downgrade because the us would likely have to pay higher interest rates to borrow money meaning less money to spend at home so we have to start cutting really aggressively and for many things they're too important for americans really to to be able to agree to cut them right now drastic cuts in everything from energy to education to the military certainly and in danger is the u.s. position is an empire around the world being able to reach into every corner of the
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earth yes absolutely whether the u.s. would really be downgraded is up for debate the u.s. has the exorbitant privilege after all of printing dollars the global reserve currency to pay its global credit card bill the scarier scenario may be that the u.s. has even reached this point i think much more disturbing a court in my opinion the fact that the u.s. financial situation already. possibly merits of downgrade a situation that once would have been unthinkable perhaps a downgrade for the u.s. whether it happens or not lauren lyster r.t. washington. matchmake a little cameo there in my report obviously we've spoken about what this would mean and we've talked about the percentage of g.d.p. that the u.s. get it and it's historically it has not been this high except during world war two and you know that was a really different situation then when the u.s. be able to recover the same way now oh i think that the end of world war two we did have an even higher debt to g.d.p.
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ratio but we were also the last man left standing in the global wasteland of destruction where our major economic competitors were hobbled and crippled by absolutely massive scenario of warfare and we were the youngest leanest minas kid on the block with very little competition situation doesn't look that way anymore the united states has been borrowing an awful lot of money by the way very short term so the maturities are short so we have to constantly roll over our debt were paying an effective interest rate of less than two and a half percent if that were even to double then you'd look at going to another two hundred fifty billion dollars and on the anticipated interest costs which would come out of the budget that's just the same time that we're trying to borrow more and more money and part of the other thing just to add to that so i think we're very good to the base that you have here is that the federal reserve has been subsidizing the cost of u.s. government debt to climb to ease and i wanted to ask you about that on that program over the next few months but fishley ending that program in june which is only a few short months away exactly and so what i want to ask is what happened that
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there is no quantitative easing three and what is the view from our use that as a financial analyst are people expecting there to be another round. but there's a pretty big debate about whether or not they'll be a q e three or whatever number you want to assign to another round of quantitative easing i think that's not desirable most people are expecting that not to occur however if anything like even half of the scenarios you're out lying here as worst case scenarios were to come to pass q e three would go from what is now a largely ideological debate into an immediate issue for a national economic and national security consideration and you might very quickly see both q e three of some type and a series of other intervention ery measures from global central banks as well as from american financial and fiscal and monetary authorities legally not you know we are you know we're a time now the u.s. is involved and if you work you mention the role of war as an additional crowbar to you how is this different now but it is worth payoffs. well united states isn't the war in which it's likely to emerge as one of the only developed economies with its
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global production capacity intact germany and japan are looking at. thirty or forty years of their you can only development europe isn't looking at being shuttered and while it has serious problems with the earthquake of the radiological misadventure there isn't looking it being destroyed the united states doesn't sit alone astride the global capitalist world and didn't just emerge victorious from a world war to mid-size actions with dramatic consequences but there really isn't aren't as a comparison to the second world war yeah iraq and afghanistan don't seem like they're going to play out quite as well as world war two did as far as the u.s. economy is concerned as max rodwell economist at the new school with that analysis now meanwhile a battle is still going on overseas as i mentioned u.s. military intervention appears to face more obstacles and meetings overseas right now are bringing out more questions than answers first envoys from the u.s. france and britain are reaching out to libyan rebels and they're indirectly in talks with moammar gadhafi regime meanwhile a former republican congressman a u.s.
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former republican congressman is due to meet with gadhafi himself to persuade him to step down so we're asking if this is a sign nato airstrikes can't drive gadhafi out and he's not going anywhere not so effective there now meanwhile the u.s. defense secretary robert gates was holding talks in saudi arabia meeting with king abdullah on the upcoming on the upheaval in the region the influence of iran a sixty billion dollars arms package but we're asking what's really behind the meeting and what we see in the aftermath i want to remind you of what happened recently you may recall gates was in the region just earlier in march visiting another persian gulf ally that was back on march eleventh and was meeting with the king and just days after he left saudi trained and a thousand troops rolled into the country that was to help the monarchy suppress anti-government protesters the bahraini government declared martial law images like what you see right there a violent crackdowns hit the internet protesters being shot point blank it appeared
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now the u.s. stood by it as protesters died there the u.s. urge for humanitarian help in libya now analysts point of the reality to situation now take a listen. looking at american old. gun ships you know which are going to improve your street and look at the rim that is where the distance trains i'm sure so it's actually backing analysts such as rose up through the conclusion that gates would have had to know about the intervention and that the u.s. was complicit in it now an effort to counter ron's influence in the region would have been the justification bahrain is a sunni ruled country but it has a shia majority believed to be sympathetic to iran the reports came out that bahrain is we're concerned today we're becoming the target of a proxy battle is what they feared between the us and sunni ruled arab countries and shiite ruled iran so we're waiting to see what will come out of these talks with gates in saudi arabia today meanwhile thousands of protesters have taken to the streets another day in yemen against their longtime president the pentagon is
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calling for a swift transition of power and it's the protests in the violence against protesters but our pentagon also said tuesday there are no plans to suspend u.s. military assistance to yemen perhaps showing that the war on terror creates interesting bedfellows requesting that as well what's going to happen there now when it comes to u.s. military intervention in the war on terror and now what we're seeing in libya the toll of u.s. airstrikes hits far from home far away from american eyes but one filmmaker highlighted the realities that one seen by the american public back during the war in iraq and his film the true story of our list ali and this was an animated film about a twelve year old iraqi boy who lost his limbs as a result of u.s. air strikes and became a symbol two of the iraq war here's a snippet of that. i'll
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be the americans have accidentally killed your family. you bastards i'll be fit merican said x. get sleep blow your arse off you. son of. the maker of that film william ross joins me now from seattle washington mr ross i want to thank you for joining us here now your fellow was obviously made years ago very critical of bush policies critical of american policy in iraq and speired i ride by your personal rage but i'm curious if you feel a resurgence of any of the anger and a resurgence and relevance of your film today as you watch the airstrikes in libya you know i actually feel it's a totally different situation. in iraq was something that was planned for ten years but when you come to united states and brought. this operation odyssey and your
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reaction to. it ok for the rest of us will you know what in the west now to libya what about the billion tall what about the civilian holdouts and then you're very critical i mean isn't the same thing happening at the bottom of the air strikes in libya oh sure there's no way you could go to freedom. we're going to kill innocent people because they want to sit so there's no doubt about it now in your film that you made on iraq are very critical of the american media coverage of just that of the iraq invasion not showing the carnage that was on the other side of those bombs of where they were landing i want to play a little snippet of what you did and your short film. could see it against your strike against targets a. city of five million people you can only imagine how terrified they are. now mr ross you know that's kind of like deja vu for me it looks
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a lot like the coverage we've been saying of the airstrikes in libya a parody of what that would look like do you think the american media is failing in its coverage a media tour of libya to show that side you know it could be in fact after the invasion of iraq stop consuming corporate media so i actually don't know what's going short right now but no doubt that it's the same kind of rate we're hoping it will be spent on. a real could be it's a conference so is iraq i turned you off to the american media what is your criticism of the way the mainstream media covers u.s. wars the iraq certainly it was a review of sorts so as a cheerleader for the bush administration. surely the sense that the administration wanted to show the schools to be printed at the silent children i think it would even make it a big tools of the united states to try summerville there do you see anything
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different now with afghanistan or with our continued involvement in iraq or involvement in libya but i think. the american public has become a lot more cynical and force in the middle east certainly this were a lot of americans very sick of being in afghanistan were sick and still be going to wrack and we don't there's no desire at all to go into libya so then why do you think these policies continue to be advanced by the united states because it doesn't matter what people think it seems that the policy makers to make the thing decisions. well i think. in iraq there's nobody really going to the situation we sort. of gotten the start of their senior but also disappointed about georgia libya that which to me was something that no one could have anticipated it certainly appears going to take the united states government for more work. but yet it continues and you know i want to ask you you are an artist but also i thought you are
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a software engineer you made this film it seems to be like this so inspired you this the horrors of the iraq war which as you mentioned you see a different situation there were fraudulent claims false pretenses for the war and i think that that's a more widely held criticism than criticism of other wars that the u.s. is involved in in afghanistan for example or drone strikes in pakistan for example those don't go as criticize there is as much popular outrage over that do you think that that allows these u.s. wars to be progressing more with less of a response at home. in some way so is the american public has become inured we're just expected to be an improvement warrant release no you know as long as it's a little bit. doesn't get on the nightly news you know there are career can call it's coming back by the thousands it seems that there's an expectation that we should just keep this up forever are you as outraged as you were back then are you still outraged over u.s.
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policy. or that it's probably. you know raised it's hard to sustain that kind of it seems like if you compensate for the better coverage of this. which of course so far not much larry have and i want to appreciate you for bringing us your thoughts years after you made a movie that still feels very very relevant today that was william ross producer and director of the true story of our less ali. still ahead here on our t.v. what the government doesn't want you to know are teeth that's down with former governor and author jesse ventura the one on one interview next. you know sometimes you see a story and it seems so easy to understand it and then you glimpse something else and here's some other part of it and realize that everything is ok. i'm sorry welcome to the big picture. that's.
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what drives the world the fear mongering used by politicians who makes decisions to break through thirty percent made can you trust no one who is you know with a global resume where we had a state controlled capitalism in school that will say when nobody dares to ask we do our t. question morning.
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well he's a man of many titles former minnesota governor. offer that the ventura latest book is just hit the shelves as well our own and
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a software truck and i caught up with them for a one on one interview here it's a neat peek at the very best highlight archie sitting down with a former governor of minnesota t.v. personality former u.s. navy seal and bestselling author jesse ventura thank you so much for joining us it's my pleasure always a pleasure your new book sixty three documents the government doesn't want you to read so how is this book new all these documents in the speaker of the public domain i mean stream media it's not going to trouble you you got to go find the stuff the boss difficult thing about doing this book was that. these documents you could substitute the word nazi and it would work and that troubles me because that's a pretty harsh statement so well it's not hard to do you mean what did you discover working well the cia's assassination manual assassination is just a fancy word for first degree murder how about the document that we discovered in
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the late forty's early fifty's where the united states went down to nicaragua and we rounded up a bunch of people and infected them with syphilis life want to see if penicillin worked you say you want to know what the government is up to do you think the rest of americans want to know your you know a lot easier living without some of this not well then if you live without this knowledge and you give bad government could you get the government abusing your rights your civil rights you know in a democratic society it is imperative for the public the people to be vigilant is that sort of way too optimistic or even naive at this point it should be. it should not be we should always demand accountability from him was our money i don't like it but my government spending my money on what happens after you voice that what you expect the rest of americans to do i believe that we need a revolution in our country we can have a revolution and what i should just is that we the next time we have an election
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here vote for anyone but democrats or republicans anyone but them for not making decisions that benefit our country they're making decisions to benefit benefit their benefactors i feel like at this point many americans would support what you were saying in terms of something in the system has to change especially over the last couple of years what we have been seeing but the majority still continues to support the mainstream political elite it still is the democrats and the republicans how many people and how much more time do you think it would change for . people to really start coming out and voting for a third option i don't know but if they don't then they deserve what they get right let me tell you some of the geo harmony documents u.s. government declared top secret last year in one year millions sixteen million i want to ask you about these. really this middle class uprising out we saw take
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place in the midwest in the united states you know in wisconsin where almost one hundred thousand people have been protesting for the longest time they ended up really losing that battle church so you as one of the people who deems it important to be calling for revolution for the people to stand up what are the chances of the people winning that kind of revolution it's easy stuff voting for democrats and republicans vote for anyone else. what do you mean cardinality of the third person turns out to be just as bad or you know evil come on that's a what do you. how do you do what they're calling roy and that ends up playing out even more terribly once how little of that how could it how could you explain i will ask you the question explain to me how it could turn out worse i don't know if you know they're going to be involved not in three wars but ten want to buy
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a leg to get independent like me i would put a camera wars where do you make that leap and what if you end up going on a power trip and decide you know seven other countries obama got the nobel peace prize put a question with excitement put it this way i'll follow the constitution that's the law of the land the problem is the democrats and republicans no longer follow our constitution or bill of rights words our supreme court their border off to. jesse ventura to make his case for a candidate for a run for president perhaps and calling for revolution and you can see the rest of that full interview with mr ventura airing later this week right here on our t.v. you won't want to miss that that's going to do it for four o'clock show also you right back here for more stories and news at five pm. for some of the low and back you are raised and the pretty chilled out these women nothing people are suggesting she's older you'll see.


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