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there's just too much. coming up on r t we near a potential u.s. military withdrawal from afghanistan but how much will it cost the american taxpayer a look at that in an arch exclusive. and the pentagon is faced with another dilemma strapped for cash it may cut down its number of military personnel more on that coming up. and as the u.s. continues to blame russia for the ukraine crisis the u.s. state department pushes for stronger sanctions against russia more on that later in the show. it's thursday may eighth eight pm here in washington d.c. and lindsey france you're watching our team america first things first you may notice this ribbon on my left lapel every year news anchors are to wear it in the
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run up to me it's the day russia reserved to commemorate the end of world war two the ribbon is a symbol of that victory. more than fifty thousand u.s. led nato troops still deployed in afghanistan are set to withdraw by december ending a long and costly battle to defeat the taliban and par five of her series archies meghan lopez explores the expensive reality of troop withdrawal and the pentagon's exemption from proper accounting practices. for thirteen years now these have been the sights. and sounds. of war but with every helicopter mission and every damaged humvee to return from the afghan theater there is another sound one congress is increasingly paying attention to. after a decade of war lawmakers are tightening their grasp on the purse strings decreasing the minimum defense budget for twenty four teams to five hundred billion dollars and demanding accountability not an easy mission the pentagon is the only
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agency that cannot produce a budget that can be audited and presented to the american people every other agency passes those tests in terms of financial audit it's in fact the department of defense has never been audited even though the d.o.d. completes over one hundred fifty million financial transactions a year and makes up one fifth of federal spending it should have happened many years ago so too with the department of homeland security which also has an audit it's ludicrous that it's our taxpayer money and the d.o.t. can account for it fiscal hawks like senator tom coburn from oklahoma have been attempting to force the pentagon's hand for years now unlike previous bills which offered incentives to the g.o.p. for getting its fiscal house organized coburn's twenty thirteen on the pentagon act would have punished the military if it did not comply order that bill is still sitting in committee depending on what new plan is to have its books audit ready by twenty seven he heard her critics say that he even that seems like
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a stretch there are there reasons why this isn't happening certainly the lack of campaign finance reform in congress allowing contractors kind of have a stranglehold on both congress and the pentagon to prevent this audit from happening because it would incriminate them but it would also incriminate the pentagon employees that are abusing the money at least one part of the military has its financial books in order the marines. it was successfully audited on december twenty third of last year the marine corps was ordered ready last year so a plus for the marine corp took a lot of the when they get that but. you know marine corps one of the smaller services we just made those advancements in the corps that allowed us to be autocratic however that military branch makes up only six percent of the overall budget receiving twenty nine billion dollars for all of twenty fourteen one of the main arguments as to why congress has not forced the pentagon to comply is the idea that the agency is simply too big to audit it is very complex but to throw up our
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hands and say well it's too big we can't worry about it that would be surrender we shouldn't do that and well former congressman ron paul is now out of office his senator son is taking up the cause national defense is the most important thing we spend money on it's one of the few legitimate constitutional functions it should be a priority there's been a blank check but even if congress did force and not it tracking the records on the pentagon's antiquated computer systems would be a nightmare a reason reuters investigation found that the computer systems were built in the one nine hundred seventy s. and have no way of communicating with one another attempts to update the records system have caused more issues even former defense secretary robert gates has lamented over the complex business practices of the pentagon the current apparatus for managing people and money across the d.o.d. enterprise is woefully inadequate. the agency's field activities joint headquarters
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and support staff functions of the department operate as a semi feudal system an amalgam of fiefdoms without centralized mechanisms to allocate resources track expenditures and measure results relative to the department's overall priorities according to one estimate from the office of senator coburn if the department of defense can get its books in order it could result in twenty five billion. alors in savings each year for the next ten years by eliminating inefficiencies and streamlining spending indians some say the true colors of the pentagon will finally be shown when an audit does take place it would expose the military industrial complex and in how the negotiations go on and exactly who gets the benefits and why it's hard to know what we will find exactly how much money can be saved and whether anything should be changed until the pentagon finally lets auditors past its barriers in washington meghan lopez r.t.
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. as congress debates the proposed four hundred ninety six billion dollar defense budget this week personnel pay is proving to be a hot button issue the nation's military leaders told congress tuesday that they've raided every other pot of money they have in order to cut spending and lawmakers must now slow the growth of pay and benefits to give us more insight on the budget problems facing the military i was joined earlier by george ferguson senior aerospace and defense analyst at bloomberg industries i first asked him to give me a breakdown on what the pentagon wants to keep and what it thinks they can get rid of it's points i mean i think the pentagon would love to keep everything if they could but budget realities are that way and i think when the pentagon leaders look at the decisions that they have to make they think that it's easier to regenerate the the personnel side of the force than it is some of the more complex weapon systems and so they prefer to invest in the complex weapons systems especially ships and aircraft rather than people and as congress continues to cut budgets the
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pentagon has the same problem the rest of the country has and that is that health care is expensive you know retirement plans and are expensive as well so the pentagon and really the pinout the forces the manpower heavy forces the army the marines and save on the health care save on the salaries and invest. in ships and airplanes instead. ok that seems to make sense how does the two thousand fifteen budget look like it will compare to last year's budget. so look we're still working through the two thousand fifteen budget i think there's a lot of negotiations going on i think there's a lot of people that think it'll be hard for the pentagon to go ahead and cut military personnel and that may have been one of the reasons why the pentagon put forward the plan to to go ahead and cut military personnel. because congress to be doesn't like that because those are salaries and. obviously get spent on other
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things inside the economy and spread around the country so i think that in a way the pentagon sort of laid this budget up perhaps knowing that there'd be some resistance to cutting personnel and maybe that means the pie is bigger when it's all done because congress tours more of the personnel cuts than they would of weapon systems but some say the military trim the fat when it's even in its last budget and now has time for it to make big decisions and really define its priorities do you see that happening with this budget that's being worked through right now. i mean look at it's very hard i think for the pentagon ever to get down to just priorities because there's a lot of people inside the pentagon that are going to be jockeying for their their program or their force over the others. so that said i do think that the pentagon is on the right path again to cutting personnel because you could generally regenerate personnel fairly rapidly armies of marine corps can in can regenerate
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people in sixty or ninety days it's the nation decided that there was a mission important enough to muster a very large army to go pursue it so i think they are on the way to getting to the to the right mix and that is continue to invest in good equipment so that when the time comes if you need good equipment and a lot of people you can you can bring the people up more rapidly i think the the other. other issue here is really that we're coming off of over a decade of engagement in iraq and afghanistan the nation is generally tired of ground engagements like that i think our pentagon leaders see the fact that there's really no appetite to go after. go after two to be involved internationally on the ground the way we were and so therefore that makes that large standing army and marine corps all those personnel you know largely. unused but just working on training and not really being deployed and so therefore they don't really need as many personnel right now so i think they are you know getting to the right mix it
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just takes a long time is a lot of complex dynamics going on inside the pentagon i'm sure yeah well it does it doesn't appear the oh the u.s. continue to spend away it had during the iraq and afghanistan wars you know the taliban has just issued. its threat to have as a sort of spring strike on military bases translators used domestic translators used overseas by the u.s. military all of these things that it wants to do before the pullout of american forces in afghanistan so. is this what we're seeing with the pentagon saying we need to stay ready we can cut down on our people but not on our hardware essentially. i mean you know the afghanistan iraq and gauges were large and gauging it's either but i think again we clearly don't need the size of the force we needed to even. engage in iraq and afghanistan over the last ten years you know
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so that so i think you know this this taliban potential taliban attack again it's one of those situations it would be a small attack it's nothing you need a large army for death want to make sure the key components of our army marine corps navy and air force work well things like counter intelligence and the intelligence forces so we want to continue to invest in those technologies the training of people. it takes longer to train than maybe your average army or marine corps person so again. let's move to saying let's move to an environment where we really invest in these longer term skills in these longer term platforms like ships and aircraft you know that you can't regenerate overnight and make sure that we're fresh and ready to go with that and and on the bigger bulkier side of just large personnel forces that's one that down ok all right george ferguson senior aerospace and defense analyst at bloomberg industries thank you very much for that
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. and her second round of public grilling is this week assistant secretary of state victoria nuland sat in front of the house committee on foreign relations to answer questions about the u.s. involvement in the crisis in ukraine she was asked about kim demonstrators and increasing sanctions are teasing apart and i have more. victoria nuland was also grilled about the u.s. as how u.s. administration's haphazard inconsistent policy of supporting self-determination another congressman specifically asked miss nuland why the u.s. has supported the independence of south sudan and kosovo for example but dismisses efforts in other parts of the world similar efforts well she explained that the obama administration opposes the changing of borders by force now during her two our testimony before the u.s. house committee on foreign affairs miss nuland reiterated america's commitment and support for the coup point of government in ukraine and not support has been quite lucrative she says that the us has provided eighteen million dollars in non-lethal
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assistance to kiev and nine million dollars in funding to be used for the upcoming may twenty fifth election and in the interim government is also supposed to be using those funds for their overall public relations campaign now the u.s. assistant secretary of state did have knowledge that president vladimir putin on monday publicly called for deescalation in violence when he asked for the upcoming referendum in eastern ukraine to be delayed nonetheless to miss newlin disregarded the statements made by the russian leader insisting still that moscow is determined to destabilize ukraine those are important. anti-government protesters in eastern ukraine are refusing to postpone sunday's referendum on greater autonomy from kiev despite the russian president calling for the vote to be delayed the decision to go ahead was made by recently formed people's councils in the main centers of on rast artie's palace later reports from slavyansk. it has been relatively peaceful
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certainly in comparison to the previous nights it is still relatively early here in the morning so the streets are quiet but if anything they likely to remain quiet most of the day we still witnessing that most people are choosing to remain inside they are frightened to come out it seems as if the only time people set foot out of their doors is to get some food and get some supplies we're still hearing of food shortages here in slavyansk close to hearing of shortages now from neighboring kramatorsk which is around seventeen kilometers away we traveled in and out of slavyansk the city is still encircled by the ukrainian army and it takes about two hours to get through some of those checkpoints or the lead on the ground is still very very tense not funding the suggestions by the russian president that even though we are hearing from people both here as well as into mates and the guns that they are considering whether or not they should postpone the referendum that is currently planned for this sunday might be
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a vote to soon as today on whether or not that referendum is the experience postponed another factor we're also monitoring is whether or not they could be any cause for concern of violence breaking out tomorrow during may the ninth celebrations we have been hearing some disturbing reports that right sick to members might use this as an opportunity to evoke clashes so that is something that people here are considering and thinking about taking very seriously. that was archies policy. big news from capitol hill regarding n.s.a. reform at the beginning of the week two competing bills in the house of representatives to reform the spy agency were set to go head to head there was the justice department's usa freedom act preferred by civil libertarians and then the house intelligence committees fisa transparency and modernization act preferred by the intelligence community well today one bill was left standing the house intelligence committee through its support behind the usa freedom act passing it by
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a unanimous vote on wednesday the usa freedom act passed out of the judiciary committee with new amendments that weakened it from its original version one amendment stripped out language that prohibited backdoor searches of americans communications in the n.s.a.'s databases and another throughout new reporting requirements which increase transparency the spy agency those amendments appear to have satisfy the house intelligence committee which released a statement today claiming the amend the amended act and the bulk collection of telephone metadata while preserving an important counterterrorism tool the next stop is a full vote on the house floor. and edward snowden may soon be getting face time with the german government it's a part of the parliamentary inquiry into the mass surveillance of german citizens which the former n.s.a. contractor exposed lawmakers decided thursday that the questionnaire it had previously sent him in lieu of a personal appearance wouldn't be enough of course that decision to prevent him from appearing in person was made just days after chancellor angela merkel made her
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first state visit to the u.s. since two thousand and eleven what is decided though is whether snowden who was granted asylum in russia should be invited to testify in person questioned by germans in russia or if he should testify over a video call one thing is for certain if he sets foot in a u.s. ally country he risks being arrested and extradited since noted revealed that the u.s. had even tapped the chancellor's own phone relations between the two countries have soured. merkel's conservative party has rejected bringing snowden into the country but this is certainly getting quite a bit of pushback from the opposition so you can imagine the diplomatically sticky situation for the chancellor. so i had on r t some of one ton of obeys detainees could be headed to south america the president of euro guy says he's willing to accept several of the men held get him out how many will he take and why we'll have answers for you after a break. leg
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. lifts are lucky. this was in the washington
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well it's a misleading is being suggested in the list of numbers in the. head of the prophecy of current issues actually back to me doesn't do too much for ad revenue my own tech agriculture giant piece on a seventy six year old american farmer based in india how much fall out do you think there is going to break for the cia or do you think this is what's triggering a great america is the largest economy in the world it's also the largest debtor nation in the history of the world breaking the set is mostly of alternatives to the status quo one might give real alternatives of wants to the core of the american dream the next they were just trying to survive it's time for americans and lawmakers of washington to wake up and start talking about the real causes a problem. celeb.
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the chance are forced. to lump in the finish line of the boston marathon. well to. their. life as the lucky. has president obama looks to offload guantanamo bay prisoners here and why has stepped forward as the small countries president jose muvico has agreed to accept up to sixty thousand detainees now public opinion polls don't show much favor for importing the prisoners in fact forty seven percent of the population disapproved of the move but that's not going to stop the rather under guard leader he's totally willing to ignore public sentiment to do what he thinks is right in fact stating that he wants to rescue society's right to experiment by legalizing marijuana he
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just signed legislation this week that could lead to pharmacies selling government approved marijuana cigarettes by the end of the year regarding get mo he says it's a disgrace and he's doing this for humanity in fact in the wall street journal he says we are never going to be the jailer for the united states but we are prepared to take in the people over there and allow them to live in our country like any citizen now if you look at where the small country is situated it's got some rather large and powerful brothers nearby argentina and brazil so it pays for it to stay cozy with the united states which it's done for decades and on top of that it's a liberal nation abortion and gay marriage are legal and offering asylum is something it's done repeatedly in years past jose when he himself was a put political prisoner for fourteen years after working for an urban guerilla movement he spent more than a decade in solitary confinement so the detainees could not be expecting any more welcoming hosts even resisting the u.s. to feel ation that the detainees be required to stay within europe wise borders for
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a minimum of two years he says that since they've broken no laws in his country they should be forded a free life. and rikers island jail is hitting the headlines once again back in february around two thirty am jailers went to check in on inmate jerome murdo they found his dead body in the six by ten foot cinder block cell the temperature inside was one hundred degrees fahrenheit jail officials say that asked for an excessive heat problem to be fixed the day before his death and initially riker's staff blamed a tragedy on malfunctioning equipment but repairs came too late because it turns out they were delayed by a long holiday weekend according to documents obtained by the associated press and although an autopsy was inconclusive in determining the official cause of death city officials have stated that he quote basically baked to death. for a month lawmakers have passed a bill mandating that genetically modified foods must be labeled governor peter
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shumlin signed the bill earlier this afternoon the bill passed the vermont house of representatives one hundred fourteen to thirty and the senate by twenty eight to two this bill requires food sold at retail outlets to be labeled as having been produced or partly produced with genetic engineering if that is the case the bill also makes it illegal to describe foods with j m o's as natural as the first state in the nation to pass such a law similar legislation failed in california and washington and maine and connecticut passed similar bills last year with clauses saying that other states nearby states that is must pass jamma laws before there's could actually take effect for months law goes into effect july first two thousand and sixteen last month elizabeth who is the policy director at the center for food safety told us this is just the beginning of a grassroots movement to require g.m.o. labeling on food. grassroots movements of forming labeling initiatives are coming
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into place. you know and they're moving this movement around the country and the industry is running scared those who want to keep within the dog have helped to get this bill introduced and moving they're trying to move the movement into a different direction standing firm about you know everybody has the right to know we have the right to know what we're eating we have to know what we're eating in order to know we're going to become. to my producers and the three hundred sixty billion dollars package food industry have asked congress for the passage of a bill which would bar any state from doing what vermont just did according to the national conference of state legislatures more than two dozen states are considering general labeling ballots. and before we go don't forget to tune into politicking with larry king tonight's guest is former utah governor and ambassador to china john huntsman here's a part of what's to come a lot of cause this cleavage when i was young i would remember that i would do the democrats would put their arms around each other to solve problems coming towards
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an accommodation was considered a grave and require a great time sure i'm sure going to go on we had political we've had professional obstructionism that is growing up in our political system so you now have on k. street in washington d.c. full time professionals who are consultants who are spin or it is who are communicators rescript writers and they work for team red or team blue they work for the republicans they work for the democrats and we've completely disincentive ised and he works in the middle which is to say getting things done and compromising so if you want to raise money larry if you want to get on the talk shows you've got to be at the extreme end that's where the action is. tune in for that tonight at nine pm here on our team america. that does it for me right now for more on the stories we covered go to you tube dot com slash our team america or check out our website arche dot com slash usa can follow me on twitter lindsay
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france for now have a great night. dramas that can't be ignored to. stories others use in the. states change the world right now. the old picture of you. from around the. globe. don't get me.
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with an approval rating of just thirteen percent at the start of this year congress is not so well liked they are doing a terrible job so it's not surprising that they would like what is surprising to hear is that apparently not even congress likes this they are so fed up with themselves that a whole bunch of them are calling it quits congress members with a total of six hundred and sixty years of experience combined among them are walking out of congress all of our most seasoned representatives are leaving of their own volition five hundred and twenty eight years of experience is about to walk out the door of the u.s. house of representatives the second most them at least for decades and one hundred thirty two years of experience is walking out on the senate why according to representative henry waxman from california who's been in office forty years it's because congress has become a gridlocked joke he said quote i think that congress is much more partisan and
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paralyzed than i've seen it in my whole career a bunch of seasoned senators are also leaving with the same feeling they point to expanding power and centralization of party leadership as a barrier to product of eighty senators played joe manchin from west virginia are even going on t.v. news programs to say they're so bad up they want to quit so tons of experience is walking out of the capital now this could be seen as a good thing we definitely need new blood in congress as the current congress is sucking so terribly. but through the citizens united and mccutcheon cases which allows for basically unlimited campaign donations by rich people and corporations the supreme court has paved the way for a new wave of politicians to be even more importantly in the pockets of the one percent there is now even them a chance for a newly elected congressperson to represent the people she's supposed to be the
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implications of having no limits on campaign contributions is so terrifying that for mine to actually just calls for a constitutional convention to limit money in politics and some states have pledged to follow suit and that actually has some real promise pertains more than a lot of other things on the table at the moment but with the way things are we are absolutely primed to have a whole slew of new congressmen who are backed by wealthy corporations and individuals under president of levels so the current devil we do know this just might be better than the devil we have yet to vote for tonight let's talk about that by following me on twitter at the resident.
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star wars. to the finish line of the current era on. what is. going to come our beloved thank you all. i can tell you. pleasure to have you with us here on our t.v. today i roll researcher.
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hello there i marinate it this is boom bust and these are the stories that we're tracking for you today. we're talking energy on today's show in all of its forms alternative natural carbon oil fuel coal fracking you name it we're covering it but one fund that is not covering it at least a certain sector of it is stanford university's endowment fund now we're taking a look at the schools with an diet that's spent in coal and what's motivation for doing so was then we have james hamilton and richard heinberg on the program today they both sat down with me to discuss peak oil fracking and alternative energy and in today's big deal edward harrison and i are discussing the subprime loan market and help stabilize the economy there is stuff let's get to it.
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but university is putting its money where its mouth is now this week stanford said that it would divest all of its investments in coal mining companies becoming the wealthiest u.s. university to pledge divestment from sectors of the fossil fuel industry now administrators and students said the vote was spurred by student activism this. group fossil free stanford presented stanford's investment responsibility and licensing panel with the facts about coal mining and the panel then decided to recommend vestment to its board of trustees now according to the new york times calls its status as a major source of carbon pollution linked to climate change persuaded the trustees to remove companies from their investment portfolio whose quote principal business
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is coal now while the decision is an important victory for this growing student led divestment movement which is now active in almost three hundred universities around the country it carries more symbolic weight than actual financial weight and that's because the universities coal holdings are only a small fraction of its total endowment with that said it's an important victory for the movement because of stanford's reputation and influence nationally just last week protests and student activists at harvard blockaded the entrance to the school's administration off administrative offices offices yet harvard still resists pressure from students to divest in coal now here's the thing while i do applaud stanford for this move it's not lost on me that their decision to divest was also balanced with how much money the endowment made off of this investment in the very first place which isn't that much all things considered it's an eighteen point seven billion dollars down in fine but bottom line it's important for us to send signals to find alternative forms of energy but the reason they invested in
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coal in the first place was because it made money and it made money because people use coal essentially society has a terminal disease that disease is energy and today we have no cure so until we do we're just going to continue treating the symptoms it's not great but i guess it's better than nothing. now it's a secret that we have only one planet and on that planet there is a set amount of resources so how much oil do we have on earth people healthier and basically states that there is a point in time after which our ability to produce oil will peak and then decline
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have we reached this point in time yet what we do know that the price of oil has increased steadily but what's driving this price increase now some analysts argue that prices are high because we have in fact reached the maximum supply that we're able to produce others view it as a demand driven it situation meaning that more and more people are chasing the same amount of resources richard heinberg heinberg sees our current situation as a result as resulting from supply now he's a senior fellow of the post carbon institute and a prolific author who focuses on peak oil and energy issues he sat down with me to discuss peak oil shell oil production and what that means for energy costs in the future take a look. well the world runs on oil it's roughly ninety five percent of world transport energy transportation is the essence of trade so you know if oil becomes more expensive the economy begins to grind down and that's
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exactly what we've seen over the last few years as well has settled in. a new normal territory of over one hundred dollars a barrel the world economy has. failed to grow the way it used to grew back when oil was more like you know fifteen twenty twenty five dollars a barrel. you know the whole of. revolution was all about cheap concentrated energy in the form of fossil fuels and without cheap concentrated energy we can't do anything it's as simple as that energy is the essence of the economy and as oil becomes more scarce and expensive it makes everything harder to do whether it's farming or mining manufacturing you name it. now in january independent oil analyst mark lewis wrote the following and an article in the financial times called peak demand the oil theory fails a screening test i said quote if and when peak demand doesn't arrive it will more
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likely be due to the rationing effect of high prices brought on by supply side constraints these are both economic for example the astronomical levels of cap ex now needed to keep production growing even modestly and geo political in nature but environmental factors will also increasingly and will be increasingly important and future now do you agree with his argument. we'll yeah. i agree with just about everything he's saying it's true the the capital expenditures of the oil companies have been skyrocketing in recent years they've run out of places to invest are affordable so just over the last few years the industry spent something like four trillion dollars in exploration production and again the result has been virtually static actual supply of regular crude oil so something is going on here we've reached the point of diminishing returns in terms of global oil production
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now again whether you call this peak supply or peak demand is a difference of view and i strongly adhere to the peak supply argument because that . demanded if demand peaks in in the sense i guess we could say they're the same thing if demand peaks it's because the price has gone so high as to choke off demand but why is the price going high it's because of supply issues wow that is something i have to ask you how does the world with dwindling natural resources impact people in countries with varying income levels and what goes on there. well it's not only income levels it's also where countries are in the supply chain countries that have indigenous resources have an economic advantage in that as the price of those resources goes up they their income goes up and of course as well supplies excuse me as oil prices have increased we've seen incomes in for
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example oil exporting middle eastern countries. increase accordingly. but also those those countries become you know a sense geo political targets unless they have a strong military infrastructure. and strong governments they are prone to be undermined by world powers that are that are seeking access to those those resources so it it makes the whole geo political scene that much more unstable. now what about the huge reserve the positives from sale or oil so you had a book last year called snake oil how fracking is a false promise a plenty imperils our future now can you just plain weather sell oil well change the calculus regarding peak oil. well it has changed it to a certain extent already because the us has seen about three and a half million barrels a day of increased production almost entirely from tight well deposits in
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north dakota in south texas a few other places but those are the main areas so we have seen tight loyal to the rescue up to a certain point. there are some analysts who say that this is just the tip of the iceberg the u.s. will production is going to continue increasing to the point where the u.s. is perhaps even self-sufficient and in oil and at this technology will be export it to the rest of the world so we'll see a new oriel boom from from shale and other type deposits our analysis of post carbon institute suggests that this is this is not the case that these are lower grade deposits are almost by definition we're talking about source rocks rather than conventional oil. and oil traps which is what we've been producing from the for for decades and decades and
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because they're lower grade deposits they require more investment more technology and also they they decline much faster so a typical. tight oil well in north dakota or south texas declines in production by roughly seventy percent in the first year that means that companies have to drill and drill and drill that increases costs and it also means that over time there's a kind of drip drilling treadmill that that inevitably tapers off you can't. as the declines from older if the wells and older oil fields increases it becomes literally impossible no matter how much you drill to maintain an increase in production what can we discern from the police and rates of sell oil fields already in production about the present rates of sell oil fields in general. well as i mentioned individual wells. decline in production by about seventy
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percent on average in the first year now the whole oil fields that are producing from from tight deposits typically decline about forty percent per year. so that means forty percent of current production from north dakota is going to have to be replaced because here in order to just to stay even much less to grow production now that percentage is going to gradually increase over time to forty five to fifty percent and so on and that and that's what makes it so hard for the industry to to keep up just after a while you can't drill enough wells and also of course we're subject to the low hanging fruit phenomena in the industries drilling the best areas first the so-called sweet spots and and while the overall formations we're talking about are fairly large the core areas are the sweet spots are relatively small just
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a few counties in extent and there are only some of them is that richard heinberg a senior fellow of the post carbon institute. time now for a very quick break but stick around because when we were turned we have james hamilton professor of economics at u.c. san diego on the show and he's giving us his take on peak oil and what's driving the increase in prices that we're seeing and it is a big deal edward harris and i are discussing the subprime auto loan market could this be the subprime mortgage market part do and before we go here are open some your closing numbers that the bell stick around. i was at the. site i think we're for rate mind.
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can do i'm trying to call them all about money and i'm actually sick for a politician right the last. tax rate right. here just to. get a side. up. welcome back so as you just heard richard heinberg believes that we've reached our peak oil production due to dwindle and supplies but another way to understand the situation is to look at the emerging markets now as these economies increase their wealth they also increase their demand for oil and as
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a result we should expect to see the price of oil increase if the amount of available oil stays the same it seems pretty simple now james hamilton is a professor of economics at the university of california san diego and he's also an expert on the energy market i sat down with him to get his take on peak oil and what's driving the increase in prices that we're seeing today take a look at what he had to say. let's start by talking about peak oil now i want to i want to mention that a couple of years ago my colleague edward harrison wrote a primer on peak oil for his blog credit rate downs dot com seen that peak oil is not about running out of oil but instead quote what is important here is that the cost of incremental supply exceeds the price at which demand destruction kicks in so how do you see it jim well it's certainly true that it's not a question of running out of oil it's a question of how expensive the stuff is and how much we can get for that price and as i see it there's no way we're going back to the world we lived in twenty years
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ago when oil was very treat that those days are gone and they're not coming back you can call that peak oil if you like your use of other phrase but i think it's a reality that we have to acknowledge and come to grips with. and yes it's certainly the case that the higher price of oil. is going to discourage use and we've seen drops in u.s. consumption probably have to continue to see further drops in our consumption of oil in the years ahead jim now in january independent oil analyst mark lewis wrote the following article in the financial times called peak demand oil theory test and here's the quote now if and when peak demand does a ride it will more likely be due to the rationing effects of high prices bought on by supply side constraints now like edward leamer says it's the supply of oil at the lower price that is the problem now do you think demand is the issue here too.
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well of course supply equals to man the price has to be such that the quantity brought to the market is the quantity consumers using and the question is what price could it be and what's the quantity associated with it so that's that's bread and butter for how economists would always think about this issue so it's not that one day we have plenty of oil in the next day it's all gone instead it's a matter of tradeoffs and we find the cheap easy to produce oil is less and less available if we want to keep consuming oil it means we have to pay a higher and higher price and as we face that price certainly everybody could stay on on their consumption. now how does a peak well relevant to the average person in developed economies throughout the world not just the guy trading it but the everyday guy. well i think it shows up every day in terms of the price people pay for gasoline at the pump now we're paying over three fifty
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a gallon nationally over four dollars here in california and if you told somebody ten years ago that's where we're headed they might have felt a sense of shock and everybody's had to make their adjustments to that one way or another so no it's not at all some abstract theory that academics can debate about it nobody else cares it really hits everybody particularly the lower income consumers who ended up spending a much higher fraction of their budget on energy the. with more money it makes a real difference for quite a few people i'm going to bring up you know lower incomes because i want to ask you how does the world with these dwindle dwindling natural resources impact people in countries of varying income levels. well it's really been a global story in the midst of all this there's been a huge increase in the incomes of the developing countries the emerging economies china in particular has been
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a big driver in global oil consumption is their incomes go up they are consuming more and more the added production isn't there in terms of supply and that's the basic factor that's been causing people in america and western europe and japan to have to use less and less as basically the chinese are outbidding us for the oil that that's there and it's interesting that even though us production is going up we're the one success story in the world right now as far as being able to increase oil production even though we're producing more we're actually consuming less of it ourselves in effect the high price the chinese people in india and the oil producing countries are willing to pay is is forcing us to make more and more adjustments here in america and the western economies jim what about the huge reserve deposits from shale oil and fracking in tight oil and gas formations and you've got last month quote oil produced from tight formations in the u.s.
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now accounts for four point three percent of total global crude oil production so what impact will that have on keeping prices down. well i think it's the main reason we're paying one hundred dollars a barrel today rather than significantly more if there was just a pure increase coming in the space of a couple years yeah you might think it would it would need some relief in terms of price but look at the bigger picture going back to two thousand and five if it weren't for that increase in u.s. production from the shale oil formations total world production of crude oil would actually be down since two thousand and five and that's a period when the incomes of people particularly in countries like china has been growing quite a bit so that that shale production from the u.s. is important for us and it's a big deal but it's really more or less just keeping up with the treadmill.
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that's going faster and faster so it hasn't brought lower prices and it's not going to bring a significant reduction in price for for one fundamental reason it's a very expensive way to get oil and if the price of oil were to go back to fifty sixty dollars a barrel a lot of these guys would be forced out of business is just too expensive the technology it is too limited in terms of what it could do to bring us back to the old days of cheap oil jim do you think the u.s. should build the keystone pipeline. yes i do because i think that's a totally separate question from many of these others it's a question of how do you transport the oil not just for canada but also from north dakota montana and pipelines since the eight hundred sixty s. everybody has understood are the efficient from an economic point of view and efficient from an environmental point of view a way to transport oil to market so without adequate pipelines what we're doing
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instead is relying on rail transport that uses more energy that produces more carbon dioxide. and it's a bigger problem in terms of the communities that the real passes through we had a disaster in virginia last week and a real serious problem with a canadian real shipment of oil well before that. i really don't have sympathy with the way people kind of demonized pipelines as if that is going to start pouring oil into all of our. you know there is is sort of perfectly clean technology but it's a much better way to ship oil than rail and so i prefer to see the question focused do you want a pipeline are you going to use a train. that should be pretty simple question but. that was james amateur
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and professor of economics at the university of california san diego time now for today's big deal. big deal we were terrorists and my partner in crime and today we are talking about crime auto loan market and how it could potentially destabilize the economy again scary stuff we experienced on the show yes you heard that right and no we didn't travel back a few years to two thousand and eight today looking at these subprime auto loans though and the real lentulus search for you and you might think that we have now are we seeing a return to this irrational exuberance of yesteryear that's the question on jack and here to break it down for us the one the only mr edward harrison now you've ever worried about the sub prime auto loan market for a while so can you offer some of these graphs that we have right here and what they mean and what they're showing us about the market sure basically what you're seeing in this first is that we cyclical low because of the financial crisis in two
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thousand two thousand and eight basically there was no issuance of. curious but now we're back to near where we were before the crisis hit and then if you look at this full basis in terms of subprime auto loans you can see there that again things are going up overall and in particular so i mean this is concerning and we're seeing wall street wanting more and more subprime backed bonds which then creates the incentives for companies to make riskier and riskier loans to subprime borrowers and this sounds eerily familiar and i want to read a quote from the financial times an article there that describes some of these practices quote bankers intimate that demands for autobahns is so strong that they're often asked to increase the size of an auto a.b.s. deal be on what might be reasonably expected to sell last year at santander
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consumer usa it's all those subprime auto a.b.s. prefunding feature which provides the reader a ranger with extra cash to acquire extra auto loans to incorporate to incorporate into the securities after the bonds have been sold to investors so can you explain how this market reflects the subprime mortgage market that basically led to the great financial crisis that we just went through will basically it's a originate to distribute model that's what we saw in housing and we're seeing in the a.b.s. is basically taking loans that would be on the books of the banks and then packaging them up and selling them to investors so to the degree that the investors demand for this particular type of product this type of paper it means that the the lender essentially because originator only all they're doing is agreed to do as much stuff as possible in getting the fee for that origination and then the investor is the one who actually gets the coupon so what we saw during the housing crisis is that this a rigid to distribute model. to lower lending standards that eventually led to
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a housing bubble that burst and there were massive losses everywhere i think the exact same things happening in subs. that we're seeing a a lowering of lending standards in subprime auto and therefore we're going to see some serious credit write downs in the next downturn i don't know if you know this but credibly done so my favorite what do i want to say this sub prime subprime subprime auto loan someone mortgages it's in the title it's not like water rise debt obligation which is a little gray you don't really know if that's a good thing about thing but subprime below prime why is this not more apparent to people that this is not something you want to be investing in it says it in the title it's the yield pick up in there is that cyclicality to it got right now we're at like one point seven percent default rates on the high yield bonds which are also with the equipment in terms of corporate lending and that's
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a cyclical low for the cycle so if you buy into the high yield market you're thinking. that defaults are low and you can get that yield pick up and as a result of that you can meet your actuarial assumptions that say basically we're going to get a certain percentage in order to meet our pension or our insurance company liabilities down the law that's what these companies are doing they have assumptions that in terms of the return of they're going to go in their investment if they don't make that return then they're going to have to companies that they're attached to to cough up more money to run through the income statement because their pension funds are not getting the return necessary in their actuarial sumption and i want to ask you one last question quickly are there enough subprime auto loans to cause the same type of damage that we saw from the subprime mortgage loans because it seems like the car loans are smaller than house loans is it going to be about and that's does exactly right so we have about three hundred billion. in mortgage market origination that had
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a six hundred billion that. and we're only looking at about one hundred in all the loans this year so in the magnitude three or six to one it's not going to be as severe but it's still a pretty big. and you rock and you help walk us through this really crafty stuff thank you so much good bye to you out there there it's great having you join us next time you can see all segments on the show on your face he doesn't need edward n.h. child. twenty
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twelve republican presidential hopeful and a one. time member of the obama diplomatic team is pushing what he calls the politics of problem solving does he really washington can stop fighting and start fixing former governor jon huntsman it's coming up on the next politics game with larry jagan. politicking on larry king and joining me here in new york is a man who has worn many hats and from both sides of the aisle former governor of utah former united states ambassador to china a candidate for the twenty twelve republican presidential nomination chairman of the board of directors at the atlantic council and is now the chairman cochairman
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rather of no labels which is determined to stop the fighting and start the fixing in politics is one of my favorite people he's governor jon huntsman welcome to politicking larry what a treat being with the king like that get my butt in that but i have to tell you this i also have a radio program now oh on sirius x.m. i guess yes you're going to be on the today you can guess where i fell in love with radio listening to you on the mutual radio late one night late i used to stay up american i was just married i worked for ronald reagan as an advance man and i stay up late at night to listen to you have the best guests on and you would really dig deep on really substantive issues of the day your father went to the nixon white he sure did a famous huntsman's like to be we called i know i asked this of ugly stevenson what he preferred governor or ambassador he always wanted to be governor what do you like you know every airman who was the governor of this great state and our
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ambassador to the soviet union during the cold war was asked that question he said you know i like governor because that was given to me by the people and i think that. kind of resonates with me being governor is the best job in the world there's nowhere to hide there's no way to op the skate you're out there on point you've got to present a vision to your people and get it done and if you don't you're over one of the about no labels in a while but first some current things how do you think the president is handling the ukrainian. well we're out of a whole lot of good options and so what do you do you work on sanctions and then you tighten the sanctions what we're waking up to and i think where he has found himself to be deficient is we've pivoted away from europe as a traditional set of alliances we pivoted asia were focused on our domestic getting our domestic house in order we used to do this thing called alliance maintenance during the cold war we train and we'd have war exercises we would sell advanced
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equipment we'd train militaries together we did we exchange intelligence we just have gotten out of that business with europe and now we see that maybe we have a huge deficiency there and he's going to have to fix that critics many in the republican lot of conservatives call him weak and feckless and i you was his i'm best you're his of as a janet you call him weak well i would say that he's not using all the tools of the presidency he's not using the bully pulpit i think he could use that a whole lot more effectively in uniting who is what as a teaching example of why it's a dangerous world and why the united states and our leadership matters and why engaging in strong economic relationships abroad is probably the only way we're really going to strengthen the international alliance istomin ways that really do matter did he when you were with him was he on top of things did you keep in constant touch as embezzler or and you were good secretary of state i worked with
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director of the cia as secretary defense i found him to be a very thoughtful student smart on top of things so i went to i went to china. my first time with ronald reagan when i worked for him in the early eighty's there was leaders from john to stand on your mormon mission you went to china and i had lived in taiwan to. speak chinese and ronald reagan went over there is first trip to china met done shopping the two of them came together in the great hall of the peoples of in one thousand nine hundred four the two most charisma atic people i've ever been around done shopping four foot eleven this firebrand from such one and ronald reagan this elegant movie star from the united states and they sat down in their seats and don't show a little cigarette spit into a spittoon a couple of times and said let's figure out how to change the world and they talk to each other really without notes or script just as friends and politicians and i fast forwarded history to when president obama went to china and i was that
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ambassador there as well much different style cool studious clinical sat down with hu jintao who was and the head of state they pull out the talking points we read ours they read tears we read our. you could've you know you could have seen the ice forming. on the table but it's really the way that the u.s. general asian ship is managed these days it's so large and it's so complicated that everything is scripted and everything is it's rehearsed and pretty rarest and you don't have a lot of spontaneity almost a good ambassador. a good ambassador a understands the country to which he or she is posted b. is a good manager because the end of the day an embassy the one in china is the second largest in the world a you've got two thousand people in every department and agency imaginable you've got to make it work and three you have a good sense of your own country you understand the cultural aspects the historical
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aspects political aspects of the united states of america such that you can explain your way through difficult circumstances in your host country did i know how you must've felt terrible from bassett or was killed in benghazi as it was stevens is and ghazi a credible issue. well i have to tell you i have a bit of a conflict here because i know what ambassadors do they are responsible for the security of their of their mission and. ambassador to libya would have been responsible for approving the security arrangements at the newly stood up consulate in benghazi and that ambassador and the clinton to the well that would have gone through the assistant secretary of state for diplomatic security and ultimately the secretary of state there's no question about that and here's what happens because we stood up a new consulate too in china and i know how long it takes to get security so he his
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threat would have been. a terror threat or as was. a counterintelligence threat in china which is the most significant in the world and each in each case you need different kinds of security fortification but you ask the state department the answer typically is we're doing all we can in afghanistan in iraq the resources are threadbare we don't have much we can do we're going to have to put you in the queue and they then go prioritizing those destinations that are more in the than others and i suspect that's what he did and i'm guessing they're waiting so they had local security the first perimeter they had a state department security the second perimeter they didn't have the marines yet and marines typically aren't deployed until it becomes a classified mission so the cia annex down the road from the consulate in benghazi would have had a special kind of security arranges that a fair issue. i think it will be used whether i think it's fair or not i
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think it's a horrible case of miscommunication by the white house they should have come come out early and spoken for it is it a really deep and substantive issue that really kind of points its finger at really malicious behavior on the part of some public servants i don't think so the message is know that in a sense when they take that role they risk their lives. well they trained you and most are steeped in some history of diplomatic service and you're trained about the internal issues what goes on in the embassy and external issues and the threat profile and everybody knows when you go out to post exactly what your threat profile is and listen it can be a dangerous business you know going with the american flag on your car wherever you go everyone knows that you're the key representative the united states in some places it can get it can get a little dicey governor what his no labels no labels is
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a political movement comprised of republicans democrats and everything in between that has the goal of changing the operating environment of washington taking it from anger and finger pointing and acrimony toward problem solving now here we are the most technology technically advanced nation on earth we put a man on the moon we cracked the code on the genome project. we innovate the next generation of industries and we have a retrograde political system i mean how can it be that in in one country you have silicon valley on one end and you've got washington d.c. on the other that is a complete example of dysfunction we haven't had mechanical failure we have a constitution we have institutions of power we've had human failure and the only way you're going to deal with human failure is by getting out on a human level to do formant. no i was recruited after it was formed by
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a guy named joe madison the great senator from west virginia we were elected governors that other democrat and wanted a democrat a republican joe and i were elected governors together ten years ago and we became best friends republican because we'd swap ideas about tax reform education reform how to get things done how to improve your state and we were both amazed at how much you can do as a governor i mean you can strike out set the agenda articulate a vision and then lead out and people will follow what cause this cleavages when i was young i remember the public of the democrats would put their arms around each of us solve problems coming to work going to combination was considered a grave and required a great cause or a sure going to go wrong we had political we've had professional obstructionism that is growing up in our political system so you now have on k. street in washington d.c.
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full time professionals who are consultants who are spin artists who are communicators who are script writers and they work for team red or team blue they work for the republicans they work for the democrats and we've completely disincentive ised any work in the middle which is to say getting things done and compromising so if you want to raise money larry if you want to get on the talk shows you've got to be at the extreme end that's where the action is and so we've created this impenetrable barrier between both sides and no one can seem to cross it today how do people join no labels of people get involved well no labels stop or it is a very good place to go out in the lead on a law go to no labels dot org and you will find two things that we are doing that is most on president it had we were here today with ten of our members of congress five republicans five democrats who have said i've had enough i don't want to be associated. with an institution that has an eight percent approval rating i want to
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be associated with people getting something done so we have built over the last year a problem solvers caucus on capitol hill half republicans have democrats numbering ninety four people there's never been done before the tea party caucus is maybe sixty we're now at ninety four they meet regularly they're building trust and they're beginning to put legislation through like no budget no pay will tell you just stand on issues that's what they're beginning to do now you have to start somewhere and we started with convening people it is that you have to at least sit in the same room get to know one another and build trust and that's how it started and now we're embarking upon phase two which is a national strategic agenda so this country doesn't have a strategy going forward i've lived in four countries during my lifetime all but one has a strategic agenda they know where they're going they know what the ratios to hit are financially they know where they want to be educationally they know where they want to be from an economic development standpoint we don't we kind of hope it all
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kind of moves forward productively are you still a republican of course i'm a teddy roosevelt republican abraham lincoln republican but you said the december of two twelve you said the republican party was devoid of a soul i don't i don't take those words back at all so they are a member of an organization's that devoid of a soul that i remember when the democrats back in the eighty's had a really tough time and it could have been argued that they didn't have a soul so it was ready to change the soul will a person a leader will infuse the party with a soul we don't have a leader right now in the party in his leaderless so it raises money where it can it tries to influence the debate where it can but if you look at party leadership compared to the days you talked about where we had really great leaders in the republican party people knew them they were states people they could move the market. can you name can anybody name the heads of the party today they can't and
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that's where we are they're they're they're much diminished in the political marketplace no labels dot org liz former presidential candidate consider another run two thousand and sixteen it's not a find out that. i marinate joining me. for that impartial and financial reporting commentary and for news and much much. only on bombast and.
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all that is asian is no labels right that said no labels no labels does or you should go and find out a lot more about this very important organization and you don't want to join. love to have you larry woods on love love tonight it is the number of his who will show up on capitol hill and see the most amazing coming together republicans democrats around a national strategic agenda the issues that really matter in this country so you concerned among the tea party well the tea party is an amalgamation of groups that have kind of lost some momentum but what i find troubling about the whole tea party movement or the people who have taken advantage of the p.t. party movement the club for growth they heritage foundation and their political arm these are the quintessential washington insiders who parade as grassroots rebels
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and they're the strategists they're the consultants who are making a whole lot of money off this phase of crazy politics and in the process they're making the republican party virtually electable at the presidential level so how do you find candidates who can get forty percent of the vote instead of fifteen percent of the vote that's where the parties have a tough time these days so many people told me i would have voted for jon huntsman but he couldn't get the nomination because the party is to split would you run again. well we ran once obviously and you've got to be a little bit crazy to do that and for i am a little bit crazy well i think to to run for office generally which is to say you throw your name out there you open yourself up you've got to say you've got to be willing to to embrace risk because a political campaign is all about risk it's like an entrepreneur rolling the dice
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with capital you know you've got to look at it you know you have a name at the end of the day and you're putting that out for all to chew on and analyze and you're you're asking the most humbling question i've ever asked anybody will you vote for me. that's a tough thing to do if you've never done that before to ask somebody for the vote you did as governor i did have reelected as governor you stand on a soapbox and the only thing that a voter has to give is that thing called trust and then you want to do it again well you're thinking about it i'm a public servant larry and as a public servant i've found that politics is a lot about syrian deputy you know it's hard to be able to preplan where you might find yourself as a public servant i never thought i'd run for governor i never thought i'd be in china as the united states ambassador things happened so you're open i'm open but here's the deal you have to be able to create a pathway from point a to point b.
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i can tell you how i get to the finish line from super tuesday but i can't tell you how i get through those early primary states having been there and done that once what is the family thing. the family loved it they had a terrific experience support if you did it again they would be totally supportive now i have two boys in the military there one is graduating from the u.s. naval academy next week and he'll be a naval aviator goes down pensacola naval air station in august and another son at the naval academy who's a tough guy and he'll do his thing and they're completely. uninterested in politics as they should be but they're a guidepost of sorts for me because i say the world that we're now bequeathing to the next generation and the war is that these guys and gals will be commissioned to fight they and they're going to have to be thought through. by people who have a sense of passion a knowledge of the world an understanding of what america's interests or we've been
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through some really tough years of war in this nation and every time i look at those boys i think all the families who have gone before us and committed their sons and daughters it's been a tough few years and the years ahead aren't going to be easy either but i can't i can't break that bond i have with my sons and what they're going to be doing and a future in politics that all of those feisty daughters. to stand up when kids say you know the political advisors said they're in the cafe keep the girls away you know they're going to get a lot of trouble and of course the girls were saying that's exactly the point we we want to get into trouble because you're not getting yourself into enough trouble we've got to we get we have to explain who our dad is to them as i hope you think about running i'm glad you are thinking at least you're open well we don't you never close out options in politics we are not organized saying we're not raising money i've come to this conclusion as well larry having been inside politics and
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now outside i think you can have even more of an impact in changing the marketplace outside that you can inside give you some thoughts on some possible candidates we think are rand paul of kentucky. well he's an interesting model i don't know that the american public is going to go for a senator who served for only eight eighteen days like we did this last go around i think they're going to want some seasoning. that aside i think he's really trying hard to create a new narrative for the party and to build bridges to last demographics i think he understands the part about politics as being basic math if you don't have enough in the way of numbers to show up and vote for the end of the day as well hang it up and right now the republicans of burn bridges to too many demographics the party doesn't come forward on immigration and women you can't win you'll win the aggression you can't win a national if that's right and so will all jump for joy you know when we do well in the midterm election but there are tailor made for a republican victory it's
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a cycle for the president you get a low turnout you get the activists generally who promote the turnout but that isn't a measure of progress toward winning the presidency which is where real change can be made in the paul ryan i think paul's a brilliant guy i really do i don't think he'll run for higher office i think he'll get out there on the stump and talk about the issues but i think he's a very refreshing and talented. policy wonk chris christie can be overcome the the bridge debacle of course because people love a second chance in politics they really do and sometimes when people come back the second time the reason better and stronger than the first time someone who might be very close to you in many opinions i would gather would be jeb bush. well you know like i'm i like a lot and his son jeb jr was are are organized for youth during the campaign and i know i know jeb family his dad president bush was one who we went to see as we were
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beginning the campaign and he said of all the jobs i've had and basser to china was the best and i wanted to do for three hour lunch was talk about the days in china but but jeb i know exactly the deliberations he's having at home and i know the pressure that's being put on him right now but is not under his health it's you have to sit down with your family and you have to anticipate what will happen as you begin to game out the scenario and it is not always pleasant he's been there at a very high level and i know exactly the conversations he's having ted cruz. ted is so i got to know ted's wife when she worked in the trade office under the george w. bush administration id cruz when i was with goldman sachs so ted is an interesting example of princeton and harvard and a lot of the great institutions of the american establishment who's been able to morph bring that way from that and to
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a grassroots firebrand and i think there's something brilliant about what he's trying to do which is to say i think my strategy will be the reverse romney i'll go out capture the grassroots i can get the harvard guys later because they're going to be there anyway rubio don't know him and see how the walker of wisconsin you know governor walker yes in fact i'll be the graduation speaker university wisconsin in two weeks and i'll see him while i'm there a good governor. innovative controversal. fresh race and i think because of that he'll he'll be in the mix you work for a what do you make of the we put well at the risk of totally destroying my future if. i have to say she's a very impressive. public servant you know as a young republican you're trained to go after the clintons and hillary clinton of course was the nemesis during the clinton years and then you have an opportunity to
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work with her as secretary of state and i have to say i haven't been around too many people as professional as well briefed as good with people at all levels of life whether a head of state or the person holding open the door i think that's the measure of a leader someone who is gracious and kind to hold people i found and i found her to be a good listener to all attributes of somebody who is we might not agree on all the issues pav to say she's a very very capable person to be formidable rove chorus gore's time magazine recently named chinese president the chinese president one of the world's most influential leaders you called them the most transform ational chinese leader since deng gangbang right yasser not that we're ever done shopping and in so drunk dollars the transformation well so done was transformational in that he took a china in chaos after mouse death in one nine hundred seventy six in the cultural revolution and opened the doors economically and diplomatically and china has kind
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of been on that same glideslope ever since the late seventy's and has built up a lot of barnacles corruption inefficiencies. the middle income trap all these issues that they have to now deal with and along comes this sixty one year old politico son of she jones one who was a deputy prime minister under mao sent to prison as was his mother and this guy's using pain was rare rode it out during the cultural revolution he's seen china at its worst and at its most tumultuous. he knows where he wants to take the country he doesn't want to return to those days and he knows he's got some hard choices to make in order to break down these special interest barriers and the widespread corruption that really have created a sense of real distrust among which is that unstable is now well. it's hard to measure china as one point three billion people because it's so big and
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bastien a lot of things going to happen that really would lead us to believe that they're there and stable but they grow at seven point five percent each year. the employment number is relatively good their trust in government and trust in the party is diminishing and that is why paying is breaking down the old economic model creating a new one which is a very risky thing to be doing he knows that they're out of economic life as an export or they just can't keep exploiting their way to prosperity they have to expand industry domestically they have to consume more but he also knows that he's got some hard line elements among them the people's liberation army the military in china that he's got to win over and that tough talk toward japan and the east china sea islands a lot of that is really geared toward winning over the hard line elements in his his country so he's consolidating his base and he's been doing that for a year and a half very effectively and he'll be around for ten years when i'm of the chinese
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people don't we know when one of a like. i have a chinese daughter that i'm raising so i wake up to china every day as she's fourteen years old we adopted her from an orphanage she was abandoned at two months of age and i've been trying to think through this very question for a lot of years thirty five years as a matter of fact and the chinese people are gracious and proud and steeped in history five thousand years worth we look at them as maybe a communist nation i look at the more as a confucius people they're more impacted influenced by confucius values than anything else that sense of hierarchy that sense of respect that filial piety that's what makes china china and then you layer over that that was twentieth century that they went through incursions of peoples invasions takeovers great leap
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forward cultural revolution and the chinese people who've been through an enormous amount they're proud now of where they are there are united as a country they're under one flag they don't have any foreign invaders. and they feel like they're on top of the world right now and i'll be guest on your radio show in a sweet innocent on a having larry what a treat on a thank you governor jon huntsman for joining us today on politicking for my viewers out there i want to hear from you join the conversation on my facebook page they really like the things things easy to. tell from the streets politicking. technology innovation all the developments from around russia we go into the future
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covered. they'll.
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know. what is up folks i'm not a martin and this is a rake in the set so if you don't already know the u.s. is at war with the entire african continent well least that's what one she'd drop a comma openly declared in a recent meeting with dozens of military contractors vying to get a piece of apple pie and back to the u.s. military operations already average more than one a day in almost every country from algeria to djibouti and just this week the obama administration that expanded its big plans for africa and announced it had a renewed contract which are pretty close to a military base there for the next ten years see djibouti is a strategic point for the u.s. intel launched counterterrorism operations in the region and most importantly drone strikes in somalia and yemen and the country is barely the size of the state of new jersey every cvs thirty eight million dollars
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a year towson extension of the military industrial comp. in fact according to al-jazeera the pentagon has informed congress of plans for a dramatic expansion of its facilities in djibouti proposing more than one billion dollars in construction projects and this week's renewal didn't come without a massive price tag either in fact the u.s. agreed to nearly double the base fee djibouti to sixty three million dollars a year without really stating the reason why there is such an increase but why would there be an incentive to tell the people where their tax dollars are going when the public doesn't even know that they're funding an undeclared war against an entire continent so if you think that it's finally time to stop expanding the u.s. military's presence to every corner of the earth join me and let's break the set. please please please. please very hard to take that lead to. you after that with the other thing
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they're looking. at least. lately. please please. please. if you look at the data from last week's job report that a part of labor economic recovery from the financial crisis appears to be on the up and up the us created nearly two hundred ninety thousand jobs last month the unemployment rate has fallen the six point three percent and the stock market is booming one only needs to take a quick glance at the factors behind the numbers to see that the so-called recovery is largely a mirage so the unemployment rate has dropped sharply almost entirely due to people
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abandoning their job searches out of hopelessness and fact according to the a.p. number of long term unemployed fell three hundred thousand the sharpest drop in two and a half years to three point five million economists said most of them likely gave up looking for work rather than found jobs but of course it's not just misleading unemployment numbers that signal an economy still suffering from a once in a generation financial collapse and enormous percentage of americans still don't have enough money to feed themselves or their families in fact according to most recent two thousand and twelve data there are forty nine million americans who are food insecure many unlimited access to an adequate amount of food so while politicians continue to tout the great recovery. that doesn't mean a whole lot to the millions of hungry americans in fact the percentage of food insecure americans today is nearly identical to the percentage of food insecure americans from two thousand and eight at the height of the crisis and a new report released from last month from the organization feeding america
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outlines just how bad the problem has become the report breaks down hunger in every county in the u.s. and found that in a stunning eleven counties more than one hundred thousand children are food insecure and while hunger is a nationwide issue the report also found that minorities are disproportionately affected by the problem of the one hundred and one majority african-american counties in the u.s. and eyebrow raising ninety four of those suffer from the high food insecurity rate and of the states where the worst hunger rates are nearly all have significant black populations including arkansas with a nineteen point four percent rate mississippi with a twenty two point three percent food insecurity rate in alabama and georgia and north carolina all near nineteen percent of course this is a problem that's solvable and back to report notes it would cost a mere two dollars and twenty six cents a day per person in order to tackle mass hunger and considering that the u.s. will spend one point four billion dollars in two thousand and fifteen on foreign
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food aid for many countries with severe human rights abuses it's absolutely insane that this government can't take care of the humber hunger epidemic right here at home. but unfortunately the political leaves her out of touch with what it means to go to bed hungry every night because in the washington bubble slashing eight billion dollars from the federal food stamp program doesn't really affect you when you're drinking chris stall and shoveling caviar down your throat. the controversial stop and frisk program has been the subject of a heavy legal debate in cities across the country yet despite the scrutiny surrounding the tactic it remains a popular crime fighting policy just like new york city in charlottesville virginia a new study found that under this program blacks are stopped at a rate twice as high as whites the racial bias is even more telling when you
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consider that african-americans make up less than twenty percent of the population in charlottesville but on average they account for seventy percent of the stops now policies like stop and frisk don't simply occur in a vacuum and such clearly racially motivated laws have a long historical context behind them so joining me now to talk about how criminal justice policies and media culture of shape the racial divide in america i'm joined by the director of the schomburg center for research in black culture and author of the book the condemnation of blackness dr callil mohamed thank you so much for coming on and. thank you very much for having me so dr you've said that no white community in america would tolerate stop and frisk in its communities how did we get to the point that this clearly racist policy continues and many us cities. well because it's had such a longstanding practice that it's built into the infrastructure of most of our cities in fact the very idea of systematically racial profiling black people really
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is invented in the north not really in the south partly because the logic of policies of stop and frisk are these kind of colorblind race neutral policies of billy meant to say this is not about black people this is about criminals though the association between blackness and criminality by the end of the late nineteenth century is a pretty solid connection there's still this kind of liberal idea. evidence of places like charlottesville home to uva and new york city home to the liberal capital of america that this is not a racist policy and you're working on a new book called disappearing acts the end of white criminality in the age of jim crow which deals with changing perceptions of african-american culture i want to talk specifically about what you discovered about how media shapes our perception of black crime. well interestingly if we go back to a period not too long ago although really most americans would say all the god
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that's the distant past back in the one nine hundred twenty s. there are extant examples during the period of prohibition where italians and irish and even jewish gangsters are making headline news the idea that their individual identity and our newspapers and then media culture was critical to at least their humanity they had names and in some cases they had an ethnic identifier oftentimes when those same people appeared these are ethnic gangs to the prohibition period alongside african-americans it was for example bob giuliani and a negro so the notion that black people's individual ality their actual humanity is is subsumed in a racial category demonstrates that our media culture for a long time hasn't really cared too much about individual blackness only that black people have a crime problem and that is true in many cases today as it was back in the one nine hundred twenty and i'd like to go back i want to actually talk about the term that
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you call the new deal is a shin of white criminality i wanted you explain what you meant by that term. well essentially back in the new deal period not only did we extend social security benefits to the white working class is not only do we allow for collective bargaining a struggle that had taken four decades in the midst of the robber baron era of the gilded age to essentially say to white america you deserve a chance in this capitalist economy there was a moment where that same ethic that same moment with franklin delano roosevelt said you know what we also shouldn't punish people who are victims of class inequality who are victims of capitalist avarice that leave people few options but to engage in crimes of poverty and to profit from underground economies and so this notion of new deal is a sion was a way of saying we're going to also. stint economic benefits to criminals so they built baseball stadiums behind bars they built movie houses because this was
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a captive audience in an era of gangster films and all of those benefits essentially were given to white ethnic and not african-americans super fascinating dr mohamed and let's bring it to today in terms of the media coverage of course they have they've latched on to donald sterling and rightly so but at the same time it's become a fever pitch you've talked a lot about this and you've said that you know it's not just simply due to his age what's the response of people who say that his remarks are an outliner from an older generation that doesn't represent current society. well i think we're kidding ourselves there are pockets of america that are young and old that are pushing back against the perceived threat of black and brown people taking over america and we see this obviously in the political organizing around the tea party which continues to say this is not about race this is about the size of government we see it in the most racist caricature is of our president but we see it in the soft bigotry of the ways in which even the attack on affirmative action isn't about what justice
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roberts is doing on the courts or anthony kennedy it's also about young places like abigail fisher who feel like somehow that her whiteness is being discounted in favor of black and brown people places that the university of texas or of course more recently at the university of michigan and i think we have to pay attention to the fact that there are pockets of young people in america even though they've been offended as being quote unquote the m.t.v. or abused one generation who really believe that america has wiped the slate clean they've grown up in schools that don't teach history particularly black history so they think that any disparities are function of personal behavior and that there should not be any attempt to redress historical wrongs right i love of people say oh well we have a black president so racism doesn't exist as an experiment is superficial analysis of the roots and let's talk about those roots dr you said that the disparity and what children learn in school in the reality on the ground you discuss that disparity what effect is this having a younger generation to think that we live in
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a post racial america and how do we move beyond that education. well first we start by teaching so that it's not it's not that we can actually move beyond it we actually have to do the work in our classrooms and that battle is a legislative battle across state houses in this country so we know for example in texas that they change the curriculum to do a little bit less civil rights and a little bit more neo conservative history we know that in arizona they criminalized ethnic studies so that mexican american descended children can't learn about mexican their mexican heritage because it's anti-american and we know that even civil rights history something that we proudly wear on our sleeve with the the ongoing quote from clive and bundy that martin luther king you know didn't get to finish his job i mean this notion that the civil rights history is so ubiquitously known is absurd it's precisely not first we have to start teaching it and also we have to hold white people accountable for a history in the same way that we hold most americans including arced our secretary of state accountable for say the holocaust was notion absolutely unfortunately
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we're out of time thank you so much dr mohamed i really appreciate you coming on thank you for having me. coming up i'll talk to tom hartman about why eighty eight d. may not it is it all stay tuned. legal . little little little. little. little little eaglet. little. cross-talk rules in effect that means you can jump in anytime you want. a
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little scary. america is the most medicated country in the world as according the mayo clinic nearly seventy percent of americans are on at least one per script in the drug and twenty five percent of us are on five or more and while many of these people are
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legitimately diagnosed with a ailments that require prescriptions and entire industry exist to exploit people's ignorance regarding treatment or perhaps no disorder is more prevalent and misdiagnosed today than attention deficit hyperactivity disorder or a.d.h. d. according to the center for disease control and prevention a whopping six point four million children age seventeen or under receive a diagnosis at some point in their lives a whopping forty one percent increase from the decade prior two thirds of those diagnosed are true with prescriptions of methamphetamine based adderall and ritalin which could lead to a whole host of other problems like addiction and the liver talks of occasion while t.v. host and former psycho therapist tom hartman author of multiple books on the subject concludes the origin of the condition might be evolutionary and a result of add up to behavior instead of the stigmatized disease society tells us so to break it all down tom join me earlier to discuss the three characteristics of a.d.h. being how they fit into his theory of hunter versus farmer. we humans have
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over the water sixty five thousand years of human history but for to. in the last ten thousand years we've lived in two kinds of worlds we've lived in hunting gathering worlds and we've lived in agricultural worlds and for a hundred other we're if you're going through the forest looking or the jungle or whatever it may be looking for lunch if you're constantly scanning your environment looking around you're more likely to see you know hey there's that rabbit over there that's going to be launcher that bear over there that's going to make me it's lunch so this is a survival skill so that's the honey gathering but in the agricultural world. you know if you're constantly being distracted instead you're supposed to be picking bugs of plants hour after hour day after day week after week month after month it doesn't work right or in a classroom if your nose in the insect walked across the ceiling is that all of the teacher doesn't work so distractibility number one works in the hunter world doesn't work in the farmer world impulsivity making quick decisions if you're
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chasing that rabbit through the woods and a deer comes by you don't have time to sit down with a pad the pads at least a risk benefit analysis rabbit less meat easier to catch deer more meat heart and by the time they're both gone right you've got to make a decision and in fact probably be acting on that decision before you even realize that you've engaged in a cognitive process and behavior preceding awareness of cognition is literally the psychiatric dictionary definition of impulsivity it works in the hunting gathering world in fact again it's survival skills. in the farming world on the other hand this is the kid who blurt something out before the teacher calls on him this is the kid who are the adult for that matter who is engaging in a behavior without thinking it through you know it and without going through that whole cognitive process so in a farming world a t.v. doesn't work as much and then the need for high levels of arousal in hunting gathering world the person who's going to be the most successful the most likely to
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pass along their genes and to succeed is the person who gets up in the morning and says you know it sounds like fun let's go out there with those things that want to eat me. as much as i want to eat them and find lunch right whereas the person who is highly risk averse who's afraid of taking risks that person's going to pay for shipping there's lions and tigers and bears up i'm just going to sit here at the cave and star now in a farming world you wouldn't want somebody who needs stimulation you'd want somebody who's just perfectly content to sit on the front porch and watch the wheat grow for seven or eight weeks before it's time to harvest it because if they were easily bored they'd say ahmadi here you know i'm going to go off to the big city or something so my suggestion back in one thousand nine hundred published the first paper in the journal of birth of molecular psychiatry and then in ninety two i published a to be a different perception my first book on this was that these differences were adaptive i propose that they were genetic i propose that they were probably
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associated not so much with serotonin but more with the main one of the neurotransmitters the that is associated with a rousing and sensory perception and. in many cases rather than dealing with these kids or adults with drugs we could successfully. fix their problem by changing their environment by putting them in an environment that's more like a honeymoon environment rather than a farming environment where this change in our schools are changing their job and tom when you first publish your paper it was pretty controversial in the scientific and young and psychiatric community got trashed here we are thirty years later where you actually had your research confirmed that this is actually a genetic trait and it's not necessarily a disease that means that you're broken and you can be fixed on drugs robert noyce was the guy who was the head of the human genome project went off after that was done went to u.c. davis and got a you got a chair and granton did this collaborative thing with the university and the
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university of beijing and i write about it my last book at eighty the edison gene and they pulled blood from several hundred. individual groups of people who are identifiably these people have been one hundred gatherers for a thousand years these people been farmers for a thousand years and what they found and. over a large number of them was that there were these doping differences that they were associated with the genes the d.t.d. our genes doping transporter doping receptor genes and there are certain illegals these pieces of the genes that flipped things on and off. that were on for dopamine in the farmers and were off for dopamine in the hunters which is exactly what i would suggest and so two years ago one of the larger psychiatric groups published actually that apology to be. part of it was right amazing i mean i think the whole of asia and. according to data from the centers for disease control the number of children diagnosed with aids has risen by forty two percent since two
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thousand and three i mean that's not the standing now eleven percent of children aged seventeen are diagnosed with the condition why are we seeing such a massive rise and how do people know i mean now that we're out of the hundred and gathering and out of kind of these farmlands and into modern society how do you know what diagnoses are correct and incorrect yeah. well first of all you're seeing the rise because it's become a multi-billion dollar industry two drugs have been rolled out relatively newer drugs since back in the ninety's when i was first writing about this stuff and back then it was a multi hundred million dollar industry now it's a multi billion dollar industry so you've got you know doctors being. pushed to diagnose and you've got for teachers it's easier you know hey just medicate the kid a psychiatrist psychologist increasingly insurance companies only pay for six minutes ten minutes twelve minutes you know you can't really do let's work on your life kind of stuff so i think that the increase in diagnosis is not that we're
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seeing more people with a.d.t. . there are more people with neurological challenges and we're seeing that clearly with autism and i think those are environmental but i don't think a.t.p. is part of that some maybe some of the behaviors that look like a deity but i think mostly it's been driven by this this industry with regard to what we can do about it we actually still live in a hunting gathering in a farming society if as an adult if i want to have a hunting gathering world i become an entrepreneur which is what i've done all my life you know you on television become an investigative reporter you become a cop you you do you do some you e.m.t. you know you do something where the where there's adrenaline and energy and constant change and constant challenge and every day having to go out of that cave where there's things you want to eat you just as much as you want to eat them right on the other hand if you are the opposite end of a.d.t.
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the overfocus in syndrome which we tend not to diagnose because these are the kids that get lost in class but some of them have a challenge to. then you don't want to find yourself in the job of being an investigative reporter you'd be much better off being a bookkeeper so there are ways to reinvent our schools to make them more stimulating for kids and there has been a mistake to doesn't tend michigan state university study found that nearly one million children are potentially misdiagnosed with a.d.h. d m let's talk about drugs like adderall because and anyone who's taken at all of course in college staying up to study for finals it's crack i mean it really does feel like that and i'm just wondering talk about what's in this drug and how you're not saying that no children should be on medication or just saying let's let's analyze it on a case by case basis just talk about that sure. first of all there's now there's a new family drugs for a.d.t. that are just kind of more set it is some kids are being even put out and and i
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psychotics i think that's a bad idea personally. because it just it just slows them down. the way that the stimulant drugs work and it started out back in the one nine hundred thirty s. there was a fellow who was marketing his magical mathematics pill to our schools and in thirty four dr benning i think his name was and and it was benzedrine and then dexidrine came along and then methamphetamine came along and adderall is three different kinds of meth it's two kinds of methamphetamine plus decks and they all dissolve the different rates or metabolized defer it so it's it has the effect of being time release but it's basically speed it's the same stuff that meth addicts are using and most meth addicts are probably people with a.d.t. who are self medicating by the way which is a whole nother area of conversation so so what happens is you know for for you know your viewers who have tried cocaine or math or adderall you know legally or illegally is you notice. what the what these drugs do is they say they raise the
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levels of dope i mean they which basically turns up the volume control inside your head lights are brighter sounds are louder sensation is more noticeable. just the five senses all turn up tastes are actually more vivid so for somebody who has low levels of dopamine who would be a hunter gatherer who is constantly trying to reach out into the world and be more stimulated suddenly being chemically stimulated causes them to go. whoa you know the world is here i don't have to i don't have to you know get my teacher to yell at me to get the adrenaline rush to feel ok i can just have it so you know it's no the problem is that there are side effects associated with speed there's a whole bunch of them but if you said i i'm not a total opponent of these drugs i think that we overuse them wildly but you
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have to balance particular for kids who don't have a choice of trying a different school you know their and the school that they're in. they're stuck with there are people who have a job and they really just don't have a choice of another job the you have to balance the side effects of the drug versus the side effects of failing and being kicked out of school in the tenth grade i mean that that can be wildly more destructive than the side effect of taking adderall i would however say and this is you know not like giving medical advice and i'm a psychotherapist out of psychiatry so i can't get drug medical advice anyway but i would say that it was a sort of there was i would say the star with the gentlest drugs possible you know there's you know there are the ritalin and there's even a variation on ritalin it's d. ritalin i'm forgetting the brand name off the top my head that's far gentler them than the info to mean the sort of dexidrine time release would load those texturing rather than adderall adderall is like going after a fly with
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a ten gauge shotgun. you know it pains me to think of how doctors are treating this and kind of how just the misconceptions about this disease tom how can we foster this absolution area trait and not just dope up millions of kids you know we have we have to honor we know we have to understand the difference in hunters and farmers and start honoring hunters the way we have has historically honored farmers and once we start doing that then we can change our institutions our schools our workplaces to ways that that help them. all right thank you so much tom hartman really appreciate you coming on. that's our show you guys drive megan tomorrow when i break the stuff all over again a good night's. sleep
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on your show a moment i should be making news all the face i deserve i feel alone. from
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. a pleasure to have you with us here on t.v. today i roll researcher. i would rather ask questions to people in positions of power instead of speaking on their behalf and that's why you can find my show larry king now right here on our t.v. question lol. think
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. it was like gold if you. did you know the price is the only industry specifically mention in the constitution and. that's because a free and open press is critical to our democracy correct all books. will. never go on i'm sorry and on this show we reveal the picture of what's actually going on we go beyond identifying the truth rational debate a real discussion critical issues facing america among them are ready to join the movement then welcome the big. bomb to our in washington d.c. and here's what's coming up tonight on the big picture. for decades ralph nader has been at the forefront of the consumer rights movement and is
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a hero to many progressive's so why is he now saying that we should work with not against conservatives we'll ask you just a moment joins us here in the studio also we'll have our your take my take wives segment and we'll be taking your calls on skype via skype id to talk to. so you could have your question or comment aired on the big picture and right now millions of americans in all age groups are drowning in student loan debt struggling day to day to pay their bills buy a home and start a family and we get rid of the war the one point one eight trillion dollars in student loan debt and make a college education affordable. you need to know this during the speech on the senate floor yesterday majority leader
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harry reid called the koch brothers one of the major causes. as of global climate change. a quote brothers admit to not being experts on the matter these billionaire oil tycoons are certainly experts predict climate change that's what they do very well they are one of the main causes of this not a cause one of the main causes. harry reid is actually right although it's not the biggest carbon emitter in the country koch industries is still one of the biggest carbon polluters around and we're talking about the amount of money that coke spent on pushing for laws that help out the fossil fuel industry and harry reid's remark about them being one of the main causes of climate change is even more accurate according to greenpeace the koch's have given over sixty million sixty seven million dollars since one thousand nine hundred seventy climate denial groups that lobby on behalf of big oil big coal and big gas it's ability to shape the debate around any given topic like climate change for example is what makes the koch
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brothers so powerful and so dangerous they are the kingmakers of the modern american right when they decide to throw their money at a cause usually means that that's where the conservative movement is and their interests aren't just aligned with big oil big coal and big gas they're also aligned with big banks and wall street this makes the coax role in putting together an all expenses paid seminar for state and federal judges about pension reform all the more disturbing according to the center for public integrity the charles g. koch foundation was one of the major sponsors of the judicial symposium on the economics of the law of public and in reform a special conference that was held between april twenty seventh and april twenty ninth at the francis w. marion hotel in charleston south carolina conferences website describes it as a place where business leaders and policy makers get together and discuss the quote looming financial and structural crisis facing and systems across the nation and
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growth but those are really just code words for the real purpose which is to develop new ways to hand public pension money off the wall street and private equity funds like being capital in the blackstone group the expense of working people joining me now for more on this is my pap and tonio america's lawyer and host of ring of fire radio and ring of fire t.v. pap welcome back. great and it's great to see you here. aren't these judges supposed to be nonpartisan what are they doing messing with the koch brothers doesn't seem to matter anymore you know with the koch brothers and other inheritance billionaire babies but the majority on the supreme court follow the money on that you'll see direct money to people alito roberts querent i mean just right down the line so now they say that's not enough we have to buy state court judges and here's what that symposium that you were just talking about is very interesting what they were talking about that symposium is how to take away the pension program of a firefighter or a policeman or a teacher and give that money this is what this is about the reason they want
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judges to take it away is because they want to get it back for their subsidy you've got wal-mart you've got exxon you've got petroleum companies of every kind arguing that the pension programs are what's causing bankruptcies in cities and states the truth is you get eighty billion dollars ok eighty billion dollars that we give away in subsidies and if you took the worst case scenario of the pension programs what it's costing it's about forty billion so either way you cut it it's a good deal if the if these huge companies can convince these state court judges that they should even be involved with a case like that think about this down there they're whining in dining these judges you know cigars champagne bring your wife bring your children we're going to entertain you they go to church they go to south carolina now this this is just one of the times that we're talking about this goes on all the time now and it's so far
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on the radio radar the mainstream media doesn't talk about it the university that i shouldn't even think they they would in gauges for law school george mason university apparently they think it's completely appropriate to do this george mason university that their largest donor is the koch brothers that's right brings in big. money for them but the real the real edge to this story is that once the money moves away from a pension program as you started to point out and it moves into the hands of wall street four hundred one k.'s or whatever we know that's a disaster all you've got is look at the numbers if you have mom and pop puts their money in s. and p. it just leaves an s. and p. without any brokers touching it with any wall street types are going to touch it they make a lot more money when wall street gets a hold of that money they end up you know they take first of all the take big cuts and they churn those cuts most of the dogs out to sell this so i can make more of
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a fee but the loss to the mom and pop pinches is huge but this story is about taking away pensions totally for people who've worked entire career work for less money believing that in the end they would be paid off from the standpoint of a good pension it's astounding also also that a company can play one state off against another to get a bigger tax cut or a bigger actually many of these companies are getting cash i mean to move their factories or or just to us down new poll conducted by greenberg quinlan rose rosmah research found that a broad majority of americans distrust the supreme court and want to reform it a couple of questions here many of those polled wanted term limits for scotus justices do you think term limits are a good idea thoughts on other ways that we could reform the court or perhaps get around the court. well the only way that you're going to have how do you make
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a guy like skill e a responsible scalia is completely utterly out of control he's become a cartoon character tom and he feels comfortable being a cartoon character because he knows nobody's going to be able to get rid of him clarence thomas the same thing here's a guy who's never asked a question ever asked a question is he listen to argument has never asked a question. he doesn't care because he's not at risk in any can way but when the american public gets to the point where they say the highest court in the land that court is supposed to balance justice in this country and make sure everything runs right when that highest court has a disapproval rate that looks something like dick cheney's you know the court is in trouble and it happens because you have judges like roberts for example robertson is hearings you might recall was saying oh i don't believe in conservative you to show activism i'm just going to all i do is just call it is it strike is it
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a ball that's my job first thing he does is comes in with six major activists cage cases one right after another where he makes it very clear that he's not really there is a judge he's there is a politician dressed up like a judge so what's happening look you know citizens united alone eighty percent of the american public with a little bit of information they have about citizens united say you know this is wrong and what the second part of it is not only this is wrong but we believe the judges did this because of their political ideology not based on any kind of courtroom president's precedent at all or start of sizes at all so when the american public wakes up like that they they they were upset about mccutcheon and they've barely understand the real issues in the kitchen if they really understood how bad mccutcheon was it would be eighty to ninety ninety percent disapproval of that so right now you have a supreme court that doesn't seem to doesn't seem to mind that the american public regards them is something akin to dick cheney in
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a way in the in the two minutes or so we have left here pat haven't we as a consequence of the court taking on more and more power and being more and more assertive and refusing to acknowledge or or conform to their the standards for federal court judges that every other federal court judge has to have only become a constitutional monarchy instead of a democracy in these five guys of the monarch's much much it. written about that money when you have when you have writers legal riders that just have done their bit following when they start calling this illegal monarchy which is what it has become then the courts need to start asking questions the last time those kinds of words were used were back in the thirty's and of course f.d.r. did something about it f.d.r. said you know what you you want to be politicians great what we're going to do is we're going to change the way that you're allowed to be a politician we're going to increase the numbers of that court after you reach seventy years old we're going to say look you know what for when you reach seventy years old we're going to add somebody to that court and what ended up happening was
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that all of a sudden that supreme court at least understood their very survival might be at risk because you had the media attacking them yet f.d.r. attacking him it was very clear that they were nothing but politicians and robes it hasn't really been reported that hasn't been repeated until we start taking a look at this roberts court and it's very very different kind of situation we see from from judges that are no longer judges it's really really remarkable and hopefully there will be enough of of an uprising of sorts that when the opportunity to put a new member of the court goes on that they'll be in a public pressure that we get somebody reasonable and mike papantonio thanks so much for being with us tonight thank you john always great to see the. sixty nine years ago this week the allies defeated the nazis in europe all americans are for it as v as in victory in europe day russians and many other europeans are free to
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it simply as victory day and it's a three day celebration in russia from a seventh of the ninth well here in the u.s. we've largely rolled it into memorial day my dad was part of the occupation forces after world war two albeit in japan and not in europe but i grew up hearing the stories firsthand from my dad's friends who fought in europe. when i heard about the incredible sacrifice the russians made now without russia hitler never would have been defeated let's never forget the dangers of fascism and the incredible sacrifices that were made to stop a right wing ideology gone wild have been victory day. coming up the mainstream media makes it seem as though american politics is hopelessly divided between left and right but in reality there's a lot of people on both sides of the outer grio ralph nader will explain why when he joins us in studio to talk about his new book unstoppable right after the break .
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this was in the washington well it's a miss that is being suggested to the list is it not the media and the congress to bring to issue that actually back to you doesn't do too much for ad revenue line tech agriculture giant teeth on a seventy six year old american farmer east india fallout do you think this is going to the create or the cia do you think this is what's triggering a race because the largest economy in the world it's also the largest debtor nation in the history of breaking the set is mostly about alternatives to the status quo but when i give you alternatives to the points on the working poor the american dream the next they were just trying to survive it's time for americans and lawmakers are forced to wake up and start talking about the real causes
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a problem. i marinate join me. for that impartial and financial reporting commentary contributor and much much. only on the bus and. there's the media leave us so we leave that maybe. by the same motion secure the play your party there's a goal. for shoes that no one is asking with the guests that you deserve answers from it's all on politics only on our t.v.
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. in the best of the rest of the news according to the most recent gallup poll a record number of americans forty two percent identify as neither democrat nor republican but as a dependent and that number will likely continue to grow as it has done over the past six years well into the future reasons why are so many so many americans are so dissatisfied with the two major parties is pretty straightforward becomes a core issues like the military industrial complex the surveillance state and wall
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street there's not that much difference between the leadership of the democratic and republican parties both protect the interests of the corporate elite but if there is a bipartisan consensus in favor of the status quo there's also a bipartisan consensus against the status quo long time consumer advocate five time candidate for president united states ralph nader has written about this in his new must read book unstoppable the emerging left right alliance to dismantle the corporate state ralph nader the guy i voted for for president in two thousand joins us now in the studio great to have you back with us mr nader. you know what most people think about and so it will brilliant book and so let's get into this and most people think about politics in america they think about extreme partisanship you know the vote that they just had just hours ago in the in the house to let's investigate and gossip is going to stuff. in your book you say is not really the case why it's so devoid. of the corporate powers over to see if they can split.
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opinion and put the left right to focus on where the. do disagree like reproductive rights or gun control they control the scene and they keep the left and right moving on where they do agree and where they do agree would take power away from the corporate brokers and it would get a lot of things done in this country where they agree eighty percent almost eighty percent comes in for a higher minimum wage that's a lot of conservative workers at wal-mart and other places right ninety percent want to break up the big banks because they're too big to fail and they're risking another crash on a new york and wall street a large majority want a tough crackdown on corporate crime and they see it they get ripped off as consumers they get thrown aside as workers and they get cheated as good as taxpayers here's the big one right left against corporate welfare and what the right wing calls crony capitalism that is really a powerful one and they want to revise the trade agreements nafta and the right
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says it shreds our sovereignty as the left says it steals our jobs and ships them overboard so wonderful to write yes so once the two come together it's unbeatable now where is it come together came together beating to clinch river breeder reactor in one thousand nine hundred three against the corporate lobbies the false claims act remember the one nine hundred eighty six that was a defeat for the corporate lobby because it was a left right allies last year the whistleblower protection bill to blow the whistle on corporate fraud on the government like on the defense contracts and on medicare again left right defeated the corporate power the plunge into war in syria. huge emails came in hundred to one in congress hundred to one fifty both sides the fund about ten hands and i've authorize nothing terrifies the power structure whether it's to a pile of politicians in washington in hock to the wall street brokers than a left right a lives because it spells majority so the issue is how do we get more left people
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to come together. and this is what this book's about twenty four areas of convergence including moral issues like the commercialization of childhood undermine prindle authority so nice kids junk food junk drunk you know junk junk drink and and violent programs. terrible and you get a left right on that end and it needs to do is go from opinion and then they've got to be more visible they've got to demonstrate they've got a petition and then the rumble starts from the people and then the press picks it up they love this odd fellows today you know or you know another likely team of their like that it's a man bites dog story then when it gets on the table like of single payer they gets majority support year after year of full medicare for all everybody in nobody out free choice of house and doctor which most people don't have anymore that if that rumbles it's unstoppable so i'm saying to left right come on don't let them divide
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and rule you you can change america you can give something to your children and grandchildren big just lock your arms together i mean you're going to differ on or the things stepaside you know say ok we're going to we're going to for an a b. c. d. but we're going to come together on w x y z shifting power to the people. how do you do that at the political level when you have political parties that are so good at hunnish in members of their parties the democratic party largely does it by ignoring the progressive caucus in the republican party does it by actively primary out the so-called brian knows you know so you've got politicians who are in some cases more afraid of their parties and the corporations that are pulling the strings than they are even of the voters of their constituents because they know that the you know the districts of inside gerrymandered so rig doesn't matter how people vote anymore so what do we do with that that's the problem the corporate
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liberals and the corporate republicans in hock to the corporate supremacists and their money like the koch brothers that is what has to be jones like you've seen it all the time in congress however look at look at this the pacific trade agreement is about to be cut by obama with the other countries he's going to yeah yeah he's going to send it to the house and senate. never going to get through why in defiance of palosi the democrat leader and boehner the house speaker for the republicans there's going to be a left right coalition saying no fastrack you're never going to get to sue unless you allow all kinds of amendments which would stop it that's unbelievable because all over capitol hill are all these corporate lobbies get that trans pacific thing through get it through you know it's going to raise price of medicines we're going to lose more jobs it's bad for america but it's good for us multinational corporations they want to keep ship and jobs and industries to fascists and
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communist regimes overseas so instead of trying to create an actual here's an alliance here's where we get together here's the here's the hotel we're going to meet at or whatever you're saying let's just take issue by issue by issue and create these alliances outside of the normal construct sites like you don't even have to focus on elections time these these people who are in office once they put their finger to the wind and they see the swarm this rumble coming left right they'll change their vote we did that the sixty's and early seventy's look at nixon he didn't like the following bills he signed them with a flourish because he heard the rumble from the people out of the sixty's environment protection agency occupational safety and health agency air pollution act water pollution control act product safety commission act and we were a point we would say we're getting a bill through congress they just have to worry about a venous because you're making all that noise that's why lewis power of that damn memo in seventy one saying we got to stop ralph nader and what happened when the
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corporations can attack it with all their lobbyists and money the rumble from the people begin to diminish this and it's a matter of morale now if liberals want to get something changed and they don't think they're going to when they get discouraged and pull back conservatives want something change they get discouraged and they pull back but if they do it together they small victory they small victory they get a moral boost and so i have twenty. or areas of convergence that can transform our country would long overdue changes and do so in a way where it doesn't matter in the elections i used to say in the sixty's i don't care who's in the congress as long as they can read and write because they're listening to the rumble from the people you see if you have a chat chapter titled who owns america a light from the thirties eliminates that's wonderful as a historian you'd like that there were agrarian poets writers reporters and workers who called themselves decentralized and they were smarter and more profound than
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their successors today because they knew that the main problem was twofold one wall street taking over washington both parties even then they were suspicious and second that unless they had property they didn't have power so they wanted to land distribution they wanted the farmers to have to have property they wanted to have shares in their name where they could control the corporations as the owner of the corporation and it was no b.s. i've never seen like this that's one of my most interesting chapters and they would be called today conservatives in fact the concern of i cause you know frederick i am he was for. health insurance but what is paul ryan you know what is what is paul ryan say oh he was against medicare medicaid yeah because it discriminated he wanted it for everybody adam smith hated big combine knew that
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they were trying to take over the government in those days wanted public works and he said people have to be paid living wages how else can you reward workers who are responsible for the economic activity so so many of these giant conservative philosophers were far more humane and savvy than knees tinsel republicans that purport to represent people back home in their gerrymandered safe districts greased by. corporate money and tragically there are far more enthusiastic about courting wealthy nations than theory of moral sentiments you know when it comes to ads and they distort tremendously oh yeah absolutely as george carlin said they've taken adamson is invisible hand and turned it into a middle middle finger yeah they have so what how do we do this i see it happening like you're having a conference think your years of fact i think nancy pelosi is already disavowed c.p.p. in harry reid's or he said you know i wonder if you look back also i think first
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we're having a conference to bring it into clearer focus but it's something like net neutrality this is i mean we got a week or so here before the f.c.c. might just blow that rally that's left right they don't want to i would think that a lot of the internet to be you know cash and carry and stratified between the big guys and an ordinary users but i seen the whole internet was funded by taxpayer resources was it but i see no discussion of this on either fox or in ascendancy on either a.b.c. or that's the strategy is launching keep these issues off the table then the media has an excuse for not covering it and the they don't poll right the thing is to push it enough left right by visiting members of congress back home marching that sort of push it left right to get on the table once again on people they can't control and so i need to get some right wingers on my show about the topic of neutrality oh of course and by the way if they can't preserve net neutrality since they have a free media right now called the internet you know that you communicate with each
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other mobilize thousands of people boy there are no to blame but themselves and they also have a few big companies on their side as you know yeah well there's this just came out today yeah there was these hundred large companies came out and said hey wait a minute you know i was debating ronald reagan once and i got him to say he was against corporate welfare before he became president when he became president he was controlled by the washington bureaucracy and all of corporate and you know freeload all he was. the king of course he read about three trillion dollar debt yes you know ideologically he was against corporate welfare i devoted milton friedman once and i got him to agree you have to have regulation of pollution because there is no way you can choose in the marketplace you know you can't smell taste. so there is there is a very powerful move here we've got to get things done in this country and this is the political realigns is the way to go ten years a new book unstoppable the emergence of a left right alliance to dismantle the corporate state the author ralph nader thank you so great to see it thank you thank you. coming up we'll have our your take my
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take it live segment and if you have a skype and and want to chance to be on next week's your take by jake live segment head over to your computer right now and give us a call our skype id is talk to tom to talk to top reporter question and you'll see it on next week's your take my take on. well. it's technology innovation called the least developed around russia we. covered. live. live.
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live live. in effect that means you can jump in anytime you want. your friends post a photo from a vacation you can't afford college the difference. the boss repeats the same old joke of course you like. your ex-girlfriend still pens tear jerking poetry. or if. we post only what really matters. to your facebook.
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well give me your take my take a while before we get to our first video question of the night and tell you about something that we knew that we're going to be doing starting tonight and continuing every thursday during your take my take why if you want another way to ask a question or make a comment on the show and you have skype call us using your computer call as to the skype id to talk to. and we'll record will answer the skype call here work order scott question and then it'll go on the air the following thursday during your take my take so get skype in right now right now we're answering skype portions right this minute and recording them for next week's show so let's go to mark with his video camera on campus. i phone this is mark. i want to talk about a classic under-reported story that really. i was shocked to learn more
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than ten years ago world war two it's subtle as represented by the department help services the patent for medical cannabis all things patent number six six three zero five zero seven what's wrong. with the clear and direct contradiction. placed on the piano both one side parallel let's go to one my question to you tom is this. in the patent u.s. patent number six six three five there is the. smoking. needed from the force. and at this point. i think you're right i you know when i first heard this somebody called my show and i have been you six months or thereabouts ago and said hey did you know that the u.s. government actually added to cannabis pot as as a as a drug as
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a you know medical marijuana and for a whole wide variety of conditions as well and i was like. this is like got to be a wacky conspiracy theory but they gave me the the person of called said here's the number like you just did and we looked it up in the patent registry and it's they're the department of health and human services or whatever it is actually the u.s. cover the federal government actually holds the patent for medical marijuana. and so yeah i think and the so that person to put this question to and here's you know the the little hoop that we've got to jump through get this to a member of congress to put this question to the woman who runs the d.n.a. i'm forgetting her name off. the lead in art and indicates it ask ask her why is it the you that you've classified or get one of the reporters in the war in
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the in the in the white house reporters asked the president because he has some say in this as well why is it that this administration previous administrations with this administration is maintaining the classification of pot as a schedule one drug in other words having no medical value when they when you the federal government have a pat on marijuana as a drug as a drug with beneficial effects. here's a video question we received from ernest in bethesda maryland. this is. your first. year as a county california who's all the right stories to. be for a lot of them regularly so it wouldn't miss it if. social nudity because it was less government regulation makes. one that what we find and what we're actually seen as to what we have we've seen in
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the united states or the last thirty years is as you decrease taxation at the top and as you do you regulate banks toure's in particular it would just just yesterday the financial times is reporting that there were a bunch of gangsters of last year who made over two billion dollars each two billion dollars paycheck so you know a million dollars a minute or something. deregulation has not worked out so well for the average american it's worked out for the banks there's toward go for the billionaires maybe it's worked out for you or most but not for most of us it's going to keep it in syracuse to. it's on this is going to syracuse university our district system is absolutely broken shouldn't we move to a proportional system where every american is equally represented in their ideas if for example three percent of the country is green party shouldn't we have three percent green party representation in congress thanks. yes we should.
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what what keegan is talking about is he describing it's god's call proportional representation what most americans don't know is that this is how most democracies in the world work. our democracy is one of the oldest democracies continuously functioning democracies and in the world you know as it's over two hundred years old and when madison in medicine is the father of the constitution kind of led the constitutional convention he spent five years studying the constitutions of other countries going all the way back to ancient greece and rome. before the constitutional convention seventy one when he was organizing this one they put together the you know our our constitution they hadn't thought about proportional representation it was an idea that wasn't proposed until about a decade before the civil war by. one say oliver wendell holmes was it
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but in any case it was it was in a book called the liberty and. and so that proposed and that was proposed in the eighteenth forty's or it were eight hundred fifty s. and proportional reprehend so what we end up with was this first past the post winner take all system where basically you're forced into having two candidates and somebody gets fifty one percent of the vote and madison realized that this could be a disaster if you had three candidates or four candidates or five candidates because we had three candidates you know somebody who you know running things with thirty four percent of the vote or for candidates with twenty six percent of the vote or five candidates a twenty one percent vote and that's not democratic that's not majority rule and you know what to do about it. it had occurred to him that if somebody got twenty one percent of the vote they should simply get twenty one percent of the seats in congress. which is how proportional representation works in pretty much every other democracy in the world was john stuart mill in the in the eight hundred fifty s.
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who proposed this book on liberty. so we have this old fashion to mock or see in. the rest of the world is more with the one way that we can get closer proportional representation and the green party is a great champion for this is with what's called rank voting or instant runoff voting where you pick this is my first choice this is my second choice this is my third choice and then computer runs the math on it and you can have multiple candidates that way are running a campaign that actually works here's jost in idaho we love to see a message on our web. hello tom i heard your program the last part of your program today where you said that there is no voter fraud how in the world could anyone know how much voter fraud there is unless we have pictures of people voting . we know that there are thousands of people supposedly who are dead who vote it
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happens all the time in every election it's silly of you to go around saying that there is no voter fraud. how can you know how much there is when there's no way to catch anyone who does it. actually you either have misheard one of these republican talking points. or somebody lied the reality is that in every election in every district there are thousands of people in every state there are thousands of people who are dead on the voting roll. because if you die. your. friend or whatever doesn't just call up the voting register office and say quit taking on the role of these debt and this is why every couple years secretaries of state go through their voting rolls and compare them to their you know who just die rolls and they purge their their voting rolls is
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perfectly routine and normal thing but there's always dead people on the voting but that doesn't mean they show up and. dead people don't show up and we do not have a zombie problem in the states so i know the republicans they want us to try and force everybody to go through what i went through yesterday three hours at the d.m.v. just to get an id so that they can vote in the hopes that they'll give up and say screw this i'm too much trouble but the fact of the matter is that we know when voting fraud happens in the united states you can go to prison for years for it there are people in prison right now for voting fraud maybe five or six of them nationwide. because it happens less frequently than people die from having televisions fall on their heads because markets in northern illinois left a message on a rant. if somebody. mentioned ok or
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put on your website where you can go if you want to sign up the fish in ok or if you want to make it against the keystone pipeline i've been looking around for it know i can figure petitions ok keystone pipeline. somebody could mention that on the show the directory on the website had appreciate it thank you very much evan i say love the show. thanks marcus there are a few places to go to sign petitions against the keystone pipeline one is through three fifty dot org and the direct site to sign the petition is right on the screen . let's go to some questions and comments from people that have been posted over at our message board at thom hartmann dot com we've got a very very active community message boards community and we've got a pin the message is there it's always at the top that that says you know questions
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for tom for the show so you can go over there and leave messages there our first message comment comes from gilbert dark who says does anybody else realize that conservatives don't need to win any debates and still win the next election all they need to do is keep people confused just uncertain of doubt and uncertainty to prevent people from forming confident conclusions we're voting about social responsibilities but conservatives are voting on financial issues and it's an excellent point it's. an excellent point conservatives may talk about guns god gays or whatever these are you know the good the so-called wedge issues designed to divide us from each other but really it's about the money it's always about the money and on the conservative side the liberal side it's about we the people you know what how do we best serve the people that's the first three words of the constitution that's it for your take my take live thanks for your comments
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and questions keep the video questions coming it's easy just grab your phone hold it horizontally and record your question or comment and e-mail it to us your take my take at g. mail dot com coming up america's outstanding student loan debt stands at over one point one trillion dollars and senator elizabeth warren has introduced a new build help students refinance those student loans but will it pass in congress is the bill go far enough i'll tell you in tonight's deleted.
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there's a medium leave us so we leave the baby. by the sea potions to cure the play your party years ago. their shoes that no one is asking with the guests that you deserve answers from it's all on politicking only on our t.v. . if it was a. very hard to make other plans again long here a plug in that sack with the perfect hair looks. a little.
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bit. like. one of the people. i marinate join me. in that impartial and financial reporting commentary interview and much much. only on bombast and only on. the.
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lead lead. lead. little. league must. be. good the bad at the very very are rick said generally ugly the good stanford university earlier this week the california university took a big step toward a greener future after taking the input of students faculty and alumni and its board of trustees voted to divest the schools and dolman from the coal industry in stanford the first big name university to do so stands for its president john and
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so the move is totally unlike the school's belief that it has a responsibility as a global citizen to promote sustainability for our planet it won't be easy to transition to a sustainable future but it's the only way we can stop global warming but on stanford for setting a great example of how we can move toward a world with out i'll still be. the bad martha mccollum just a day out. so the white house released a report including the climate change is already happening and about to get a whole lot worse fox news host appeared on fellow fox on the blank kill means radio show to offer this little nugget of wisdom. when the climate has changed over the course of the thousands and thousands of years that there has been an existence it has changed you know by several degrees down over the course of it i just don't think that there's a convincing evidence that the presence of man has altered that more dramatically than say the earth being covered with volcanoes emitting and you know naturally
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noxious gases so you're saying that it's cyclical brian would even give the go that far back i am saying that it's nature it's just flat out wrong. while there is such a thing as natural climate change and ninety nine percent of scientists agree that based on their very detailed research the type of climate change we're seeing right now is the direct result of humans burning fossil fuels in most of the world this is just accepted as fact and thanks to people like martha mccollum many americans by some estimates almost a quarter of our population still don't understand the reality of oil. and the very very ugly congressman devon doom during an interview published in politico this morning the california republican accused michigan congressman justin amash is a big supporter of n.s.a. reform of being in league with terrorists noonan says he's been leading the charge not telling the truth about us a surveillance policies and i guess the point or my assessment is this guy is
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willing to work with san francisco democrats to protect big fish at the same time he's all quite as best friend in the congress that's right representative nunes thinks trying to stand up to congressional liberties make sure it is best friend. that is for for you. crazy or bookworms gone wild in today's digital age reading is not as popular as it once was young people would rather play video games or watch t.v. than spend a few hours with classic novels all that many teen years thanks to the out door coed opulence all fiction appreciation society the outdoor coed topless pulp fiction appreciation society are on the list for short has
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a very simple goal making reading sexy and boy do they do that the society which doubles as an advocacy group for new york's law allowing both men and women to walk around topless likes to read in the buff this weekend for example its members flock to central park to bare their bosoms and dig into puppy titles like the cradle of fear as well as literary classics like moby dick i also spent time soaking up some rays on a nearby sun deck joining the outdoor coed topless pulp fiction appreciation society is apparently quite easy to do is stay a browse for most. new fiction i do wonder though what they do when they get a big big.
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american student loan debt crisis is deforming an entire generation right now america's student loan debt stands at a little over one point one eight really in dollars more than forty million americans hold student loan debt which is greater than the entire population of canada poland north korea australia and two hundred other countries. and of those forty million borrowers around seven million have defaulted on their debt the average debt for a twenty five year old american student has risen a staggering ninety one percent just over the last ten years and most of that is student loan debt student loan debt now exceeds both credit card debt and auto loan debt in america and the average college debt per person is over twenty three thousand dollars that's the average but some people have a lot more than that like merrill anderson mother of two who went back to school and graduated with a diploma and is over one hundred thousand dollars in debt take
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a look. anderson a fifty seven year old divorced mother of two went back to school in her thirty's for her bachelor's and master's degrees illness and financial trouble she says forced her to miss payments so the sixty five thousand dollars she originally borrowed has ballooned inflated by eight percent interest rates that she's not allowed to refinance this represents the total amount of federal student loan debt that i have one hundred twenty three thousand three hundred seventeen dollars and thirty five cents. according to a study by hamilton place studies strategies by twenty twenty three the average amount of debt that college students will graduate with will equal what the median college graduate will earn every year that same study found that average student debt at graduation has skyrocketed by two hundred percent since one thousand nine hundred three these mountains of student loan debt that are burdening millions of
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americans are killing our economy they're killing our society they're even killing our health. last year the new york federal reserve show that there's been an actual drag on our economy just because of growing levels of student loan debt americans with piles of student loan debt have less money to spend on anything from consumer products to homes and first time home buyers usually college graduates are or at least used to be the bedrock of the housing market but since millions of college graduates are drowning in debt they can't afford to buy a home which is killing america's housing recovery meanwhile according to a report from the one wisconsin institute the devastating effects of student loan debt may reduce new vehicles spending by as much as asked to meet in six point four billion dollars annually in the u.s. and the chief economist for general motors even said the student loan debt is one of if not leet major reason why millennial is are not buying cars student loan debt
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also keeps americans out of good jobs when a person defaults on their student loan debt their credit rating collapses and unfortunately many employers today run credit score checks on potential hires which means that there are millions of americans who defaulted on their debt and now have rock bottom credit scores and they're not going to get higher the student loan debt isn't just having devastating effects on it on our economy. it's also contributing to a variety of social and health problems as well student loan debt is causing americans to start families later in life are reports from the economic forecasting firm i.h.s. global insight found that two in two thousand and seven in two thousand and eleven all other forms of debt were following student loan debt was steadily increasing as i just points out during that same time period in two thousand and seven the median age of first marriage was twenty seven point five for males twenty five point six for females however by two thousand and eleven the median age crept up to twenty
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eight point seven for males and twenty six point five for feels fertility rates the births for thousand women age fifteen to forty four have decreased significantly from sixty nine point three in two thousand and seven to the sixty four to sixty five range in two thousand and eleven and as multiple studies that show when women have children later in life there's a much greater risk of a child being born with things like autism or down's syndrome twenty ten study in fact found that mothers over forty had a fifty one percent higher risk of having a child with autism and mothers twenty five to twenty nine and a seventy seven percent higher risk in london mothers under twenty five meanwhile suicide rates and mental health illnesses are higher for people struggling with debt. after the banking crisis struck europe the lead to mass protests and chaos suicide rates skyrocketed across the continent because people couldn't handle living with their debt and with the austerity policies that the banks was running the e.u. and the i.m.f.
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forced on. from hurting our economic recovery to influencing the number of children born with autism and down's syndrome in america it's clear that the student loan debt crisis is having some pretty devastating effects on our society in our way of life and that something needs to be done about it. that's where senator elizabeth warren comes in on tuesday warren along with many of her fellow democratic senators introduce the bank on students emergency loan refinancing or which would allow americans with outstanding student loan debt to refinance their debt at the lower interest rates that we have right now today many americans are struggling with student loan debt at interest rates of seven even eight percent or higher on their loans and senator warner colleagues are trying to fix this new students are taking out loans at rates as low as three point eight six percent right now thanks to the bipartisan student loan certainty act which was passed by congress last summer warrens bank on students emergency loan refinancing act would let americans with
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outstanding student loan debts at higher interest rates to rollover their loans to the newer lower rates in a press release on the new legislation warren said that exploding student loan debt is crushing young people and dragging down our economy allowing students to refinance their loans would put money back in the pockets of people who invested in their education the students didn't go to the ball and run up charges on a credit card they work hard and learn new skills that will benefit this country and help us build a stronger middle class and a stronger america america's student loan debt crisis is like nothing our country has ever seen before over a trillion dollars in debt is deforming an entire generation crippling our economy and contributing to a wide variety of social ills and health problems. fortunately people are a little bit of warner taking the bold actions necessary to lift millions of americans out of debt so they can be active and contributing members to our society
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and our economy and it's a great start but if we could spend trillions of dollars on wars in afghanistan and iraq why not now that we're winding those down use that same kind of money to pay off all the student loan debt out there all together with a debt jubilee students should have had to go to debt it to go to school the first place before reagan college was free or super affordable in almost all of america let's wipe the student loan debt off the books and a future student loan debt by investing in our intellectual infrastructure like we did in the middle years of the twentieth century when the number of college graduates in america more than doubled and virtually nobody had student debt. instead of exploiting the newest generation of americans must invest let's invest in that by making all public universities and community colleges free it work like a charm after world war two the g.i.
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bill and a built america we can do it. and that's the way it is tonight thursday may twenty fourth and don't forget democracy begins with you get out there get back to your. league.
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world. series technology innovation hall believes developments from around russia we've got this huge you're covered. that's our course. in the finish line of the hour on. the look. on her. for.
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a twenty twelve republican presidential hopeful and a one time member of the obama diplomatic team is pushing what he calls the politics of problem solving does he we will leave washington can stop fighting and start fixing former governor jon huntsman it's coming up on the next politicking with larry king. politicking on larry king and joining me here in new york is a man who has worn many hats and from both sides of the aisle for the governor of utah former united states ambassador to china a candidate for the two thousand and twelve republican presidential nomination chairman of the board of directors at the atlantic council.


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