Transcripts For RT Going Underground 20240712 : vimarsana.co

To one woman who claims to have been raped about why she is voting for trump and the. Only thing more coming up in todays going underground but 1st a virus transmitted at least in part because of environmental destruction is being credited for ripping up the economic plans of finance ministers all over the world ahead of a possible 2nd wave and here in britain brics at negotiations in crisis what can save capitalism now joining me now from hanover New Hampshire is Dartmouth College is labor market economist and former bank of England Monetary Policy Committee member professor David Blanchflower danny thanks so much for coming on so your recommendations for slashing Interest Rates arguably did way more than austerity for saving britain after the Bank Bailouts and the austerity how can britain recover from covert given per capita its death rate desired from the g 20. Well youve got to keep spending money youve got to. Resist entirely any idiot who says we should be going to austerity lets just think about the u. K. So we have not over 9000000 people who are on furloughed schemes and this government is talking about stopping that from me well we have 1300000. 00 unemployed now with a rate of 4 point one percent if they stop its hard not to see the Unemployment Rate at least easily hitting 20 and probably more so the obvious thing is youve got to keep going and anything that related to what you did from 2010 to 2020 is a disaster and im im im a beginner to cameron in a 2nd but im going to tell you richard cynic says the furnace scheme should not and cannot go on forever and everyone who says it should be extended after october would then just say has to continually extend therefore thats the argument for stopping it. Well i didnt say it should go on forever but i certainly think it should go on for a year or so i mean from southern germany have agreed that theyll keep this going for 2 years but if this government wants to have an Unemployment Rate of 37 percent or 28 percent or number like that keep saying stuff like that the bank giving a doesnt have a lot of leeway i mean its talked about going negative can you imagine that and buying more assets but essentially what you have to do in this once in 100 year crisis i mean we had a once in a 100 year financial crisis now we have a crisis that is comparable to the great influenza and the answer is that you have to have the courage to keep going and theyve done well so far and anybody who says to them that we should go back to where we were as in 2010 well what did we learn from that we learned that it was the slowest recovery in 300 years after the southie bubble and sadly the the slowest recovery ever actually 600 years ago was the black death so this government they want to do that thats where well go well have unbelievable hardship in the country and for the chancellor to say such idiotic things really begs belief to me but in fairness of us johnson he says there should be no return to our stereotype it is predisaster David Cameron his fellow Bullingdon Club member David Cameron has a new preface and he says actually the reaction of britain to the 28 crisis was precisely why britain is in such a good place coping 1000 was the rainy day we had been saving for i sat watching chancellor issue next press conferences thinking how vital it was that we had taken those difficult decisions when we did referring to austerity David Cameron the you just made that up right no im afraid joe this is the new pro this i mean its the thats a complete and total joke i mean there the economy was absolutely destroyed by their will sterrett city it was certainly not prepared for what was coming the the government sector if you like had been decimated think of towns. I mean he senses the Health Service and Everything Else was actually decimated then the country was totally unprepared because of the complete nutter incompetence of David Cameron and especially him. On the icicle slasher also paul and can you believe theyre going to try and try this the same old nonsense and ive argued that the stereotype was entirely reckless and evil had no basis in economics whatsoever and was only designed to hurt the poor which is what it did so youre really going to try and do that again i think not and politically it will be a disaster the government here David Cameron many members of the conservative party in fact the Labor Party Members Rachel Reeves is now a member and because thomas cabinet she said at the time the benefits should be cut much bigger and faster than the osborne government was doing so i dont know i mean does this all feed into why governments like britain like the United States the reagan fatter models that are behind them or why they have the worst cove it figures you know its you know i mean its the of the obvious thing is that weve seen an explosion of Poor Mental Health and distress and despair and depression and anxiety so thats whats happening right now across the western world in the u. S. And the u. K. But what what it dede what these austerity did is it made communities vulnerable it made individuals vulnerable in the way that they should intervene in a sense that the government sector in preparation for a crisis like ovid was the strong but gentle fathers hand protecting people from what was coming what these people did was they took away all the buffers all the safety and said we can just get rid of that we can go to the private sector look at the disaster thats going on in the u. K. Today where the government has taken testing away from the Public Sector and give it to the private sector and people in landed no. And to get a test i may have to go to newcastle where where is that ideological that mackenzies out there is annoying highly ideological i mean if you think back to the sterett to me im probably professor of economics there is absolutely no evidence in the data that there was any anomic justification for the austerity that they imposed it was simply about reducing the size of the states and trying to hurt the poor and all the evidence about the role of a stereo is now been shown that we were right those of us who opposed it said it was a complete disaster what it did was it exposed countries to a shock that was coming and so so the Great Recession exposed vulnerabilities that existed in the past and now whats happened is because of the disastrous macroeconomic policy that hurt people it meant that the societies were vulnerable to a shock that was coming and with no protection so its absolutely disastrous and youre right members of the labor party supported summers and at the time i opposed it tooth and nail opposed to on the m. P. C. And ive opposed it for the last 20 years and if you look back in essence of being right and theyve all been wrong well and lead to political and financial class clearly disagrees with you and in fact they often point to the growth in employment and if what youve just been saying isnt disturbing enough youve been tweeting on the stand about labor market figures the actual figures that we get from the office for National Statistics why do you think you have problems with the oh and i says figures upon which we base all our modeling and so well if you can hone look i mean so we know since march that around 9000000 people are actually off on this scheme what at what time to the on ss they are on the Unemployment Rate well the 1st thing is its the least timely in the World Everybody else can produce data right now for august well the o. And s. Is producing data for june great thats really helpful but the other thing is that the data that. Dont reflect whats happened to the economy so lets think what happened to the Unemployment Rate for the last 5 times since march 3 point 93. 93. 13. 94. 10 so the Unemployment Rate in britain is absolutely falling great well thats not true we know that theres all sorts of problems there is some evidence in this in the study they just produced that vacancies. But basically the data that the o. And s. Produces is not fit for purpose if you look at the United States we really have reflections of whats going on right at this moment you but i mean not my view is they are the oh and s. Estimate is completely irrelevant you should ignore i better tell you what the owners say they say the framework is based on the concept of labor supply and demand i dont know the secretary. Says this approach has Wide International acceptance including by the International Labor organization. Well that may be true but its interesting that the u. K. Can produce timey estimates it produces them months and months behind everybody else but more and cyprus and luxemburg can do it so why cant the point to it i mean its lawful its completely laughable the quality of the surveys are too low they dont spend enough money on it by looking at that survey it really tells you nothing about the hurt that people in the u. K. Are experiencing and so thats why i think its basically laughable well im here professor of labor economics thats what i do yes the. Job but also my job given that you know arguably more than. Anyone in their thought the recent Monetary Policy Committee Members about the ideological philosophical or financial persuasion that goes on about the importance of debt and given that you know about that what your view is do when they hear on the news that policies that affect them and their lives must be enacted because of the debt well i mean its a really interesting question i mean the 1st 2 things to say to it and i think the 2nd is probably the most important the 1st thing is that right now Interest Rates are unbelievably low so governments can borrow money very cheap. But i think this is the right in our g. E. Supposin suddenly the u. K. Was at war and you say well if we got a war problem is that we can have to build things that we had our factories that make tanks and airplanes and all that stuff would use and the debt would clearly rise would you say sorry we cant fight this war weve got to give you a because we worry about the debt well no you wouldnt youd say well we have to do this for a while this is an important thing that we do to save our country will think of the coded crisis as equivalent to that youre fighting a war against this virus and you and you spend it on your people and you invest in your people i mean in a war you dont not fight the war let people die it was the same with the kobe you do everything you can to protect your people and the debt is something that youre going to have to deal with and then youll pay for it down the road you may it may take 200 years to pay for it well thats fine the alternative its not great that you have to do it but think of the alternative the alternative is worse so as long as the government does sensible things which i doubt this governments he seems able to do but if you spend it on sensible things thats obviously a good way to go if you waste it as a government accused of dunmore sorts of things that would be some of the public on the list as this program should oppose well maybe there are structural it is a structural details there it was after all not with a few days ago britain reza commemorating the battle of britain when it comes to rising white flags but ive got to ask you then is it something generational about politicians is that the problem a lot of controversy here over or the decision to tear up the treaty that was signed over the European Union and brics it arguably some people on the left and the right who support leaving the European Union might say well state aged me the sovereign right of parliament not of the European Union treaty what do you make of all of the hullabaloo. Well i mean it seems pretty bizarre to be trying to think about separating a country and generating huge lines and i saw pictures this morning huge lines of trucks at the border in a pandemic when youre trying to socially distance folks. I just think what youve seen here is a separation between what the ideologues and the politicians are saying and the hurt that people are experiencing i mean i dont doubt that the vote for breaks it was a cry for help the vote in the United States by 2 to trump was actually actually a vote from people who were hurting and in some ways what we have is im hurting it makes me feel better if you in the chaps like blanchflower out there you start to hurt that makes me feel better so i think its very clear because of the austerity policies but it to keep it really people were hurting they reached out for help and guidance and what you had was politicians who just basically made stuff up and i think breaks it is probably most most ridiculous decision made by any Sovereign Parliament in the last 250 years because its quite clear from economists its hard to work out why people would vote against their own best interests and that may be pretty controversial but that thats the truth i mean that i understand it was that people were hurting and people say to me oh this is about much more than money its about sovereignty but lanpher as an economist and i would say you cant eat sovereignty president on track thank you eric. And you sir are off of the right 26 years of the month bill clinton along with cosponsor joe biden signed into law the violence against women act we speak to one of president clintons accusers about dirty tricks in the d. N. C. And why she thinks americans need to vote trump in november all the more coming up about 2 of going underground. On this edition of the program we discussed the passing of the 2 towering Figures Supreme Court Justice Ruth Bader ginsburg and americas preeminent russian expert steven cohen both will be remembered for good reasons their legacies should. Show its seemed wrong. When all rolls just dont all. Mean you wont get to shape out these days to come as a candidate and engagement equals betrayal. When so many find themselves worlds apart we choose to look for common ground. Welcome back well as president clinton and joe biden celebrate the anniversary of the violence against women act is the former arkansas governor guilty of the crimes he professed to be against one accuser claims the former president raped her 978 while on the campaign trail there are allegations bill clinton and his lawyers strenuously deny when either broaddrick claim speaking up about these allegations with other victims helped put donald trump in the white house and will be voting for him in the member she joins me now from fort smith in arkansas thanks so much for coming on were also speaking you know to a guy called Tony Schwartz who says he ghostwrote trumps best selling book the art of the deal he says that was the worst thing ever did the ghost writing that book eternal shame but you of course have said that shame is what any democrat should feel about. Voting democrat while the clintons are still in the party arguably oh yes sooner i am always and will continue to talk about who the clintons are and what they have done below her slowly to women how he has the by his violence against women act was just ridiculous you know. He didnt he did just what he preached but it wasnt just one event of the turn you from a democrat volunteer and i should say also that of course you run health care in your state different Nursing Homes was it just that the turn you all the way to becoming a republican and this a made Republican Party considered so right wing oh no no i am was never in politics before 978 i never did anything like arlen cheering for janda debts and i even guarded for barack obama the 1st round so id vote for the candidates but now im. Stomps republicans because of what all the democrats have done to our president well i have to say obviously pled to the lawyer David Kendall he didnt get back to us but he said in the past any allegation that the president assaulted mrs brodrick more than 20 years ago is absolutely false you dont accept clintons apology much over the clinton except that he even gave an apology given that he didnt admit to it happening. Now of course he did apologize to me in 1991 in person. Before he announced years running for president it was a shock to me i resent a nursing home eating a little rock and someone call me out of the advanced sense i recently did in the hall why i go down by the elevator and there stands been bill clintons and he rushes over tyranny and apologizes to me and says im so sorry for what idiots im a changed man im a namely man i would never do anything like that again and im standing there absent an absolute shock i hadnt seen him an in years and address and i was surprised jew and i just said you go to harold and i walk down and then i found out to reach 3 weeks later that he announced he received running and the thing that bothered me the most about that man is after 13 years when i had tried to go on with its like he was saying i can reach out and touch here anytime or want well obviously even the apology is disputed its all disputed and then we invite clintons lawyers and representatives on and of course people say ok the clintons have some power in todays Democrat Party but their fame is at the moment the british Guardian Newspaper is printed something about a model in september of 9097 clai