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[Music]

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I

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get

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[Music]

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welcome to Sputnik orbiting the world

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with me George Galloway and me gatri is

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the pound down or up and what does that

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mean are the markets crashing and

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burning or booming and why should you

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care first brexit now Trump have

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injected massive volatility into the

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British economy the ccope has been

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shaken and the pieces are still in flux

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our guest in this special edition on the

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economy is a special guest indeed City

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editor Supreme the dwen of City editors

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from the times to the evening standard

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he has occupied all the commanding

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Heights of financial journalism in

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Britain I've known him for almost 30

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years and never not been impressed he is

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Anthony Hilton and he's here now on

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board the Sputnik Anthony welcome the

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massive volatility that gatri talked

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about

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is it something that we should fear or

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is it a normal up and down of of the

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capitalist

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system I I think a bit of both to be

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quite honest I think that the volatility

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is partly because of our kind of

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tectonic Shi uh plate shifting you know

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that the uh the whole uh

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globalization uh process is if not

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unwinding certainly stalled and I think

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that's being reflected in the markets

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and then the other side is that you know

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there's just so much hot money in the

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world now so much money that can be

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mobilized at the Press of a button in a

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way that it could never be before that

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you're bound to get that much more

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volatility well let's look at the pound

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for a start we were told in the

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immediate wake of the brexit vote that

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the pound had never been lower it was on

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the floor might be headed for under the

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floor after the Trump result we were

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told that the pound had had its best

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week for I don't know how many decades

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what does that actually mean why should

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I mean we have very few pounds we have

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no shares nor even own property why

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should we and people like us and bear in

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mind 16 million people in Britain have

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less than1 in the bank and many millions

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more have no bank account at all why

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should Ordinary People care about these

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fluctuations well in the case of the

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pound um they care because it will

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fairly quickly affect how much they pay

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for whatever they buy in the shops I

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mean a country like this which Imports

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half to 2third of its food pays for it

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in Sterling if the pound shops you have

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to pay more so that transmits through

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into the shops in time and you will see

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uh a bit of inflation you'll see Rising

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you have a Marmite crisis well Marmite

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is an early indication yeah if you like

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it's now in the coal mine of what there

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could be that much more to come or a bit

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of profiteering uh the Apple uh uh S

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charge on British consumers has been

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widely criticized as uh as sharp

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practice Yeah well you always get this

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don't you that when there is a kind of

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excuse for putting up prices then there

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will always be a few companies who do

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just a little bit more than perhaps they

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need to just to catch up or as you say

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to uh make a bit more money of course uh

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a potential concomitant of all of this

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is import substitution after all if we

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import half 2/3 of our food we don't

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have to do we uh we can make perfectly

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well our own um cheese our own butter

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and many of the things that we buy

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cheaply uh from foreign sources at the

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moment uh probably with food we could

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not be self-sufficient unless we all

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wanted to live on potatoes or or or or

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grain but you I mean the point you make

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is a valid one but of course that's the

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point in a way that Trump is making in

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the United States about trying to take

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manufacturing back to the States it's

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the same idea that why buy it from

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abroad if you can make it at home and

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the issue is that perhaps they can make

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it abroad more efficiently and we would

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be better off doing what we do well here

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and selling it to them and buying from

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them what they can do cheaper than us so

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that that's the argument for trade yeah

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but another concomitant is exports uh

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gri has a small vintage clothes shop in

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the Portell Market uh area I can tell

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you that there's a a fantastic number of

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foreign visitors in the PTO belloo area

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uh right now I mean a phenomenal amount

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really noticeable even for me just

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standing guard in the in the shop so

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tourism is one invisible export and all

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the other things that we actually export

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are now cheaper yep in theory anyway

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yeah I mean to some extent what we

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export has parts that we have to import

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first so it's not exactly as clearcut

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but the interesting thing is that when

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the pound dropped after the financial

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crisis back in 2008 and the pound then

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dropped about 25% but there was no

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increase in exports um on new material

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increase in exports so you do Wonder to

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what extent price is the determining

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factor with exports and whether you know

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it's quality or after sales service or

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basically are we actually producing what

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the world wants to buy now um this is

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great of great importance to us and I

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read recently that um due to the surplus

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of luxury apartments in New York the

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rents are actually going down and

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tenants are harder to find now um we're

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waiting for that day to come to happen

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here in London well it's beginning to

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well I wouldn't say it's happening to

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that extent yet but I mean the top

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depend of the property Market in London

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has stalled really quite badly since to

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is still too far for most of the people

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I mean oh yeah yeah quite but then

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that's true of New York too I mean I I I

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have lots of friends in New York and

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none of them live on Park Avenue you

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know I mean um let's face it most people

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can't afford 40 million or whatever or

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even 1 million for a house um or even

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much less than that London is now less

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attractive to foreign buyers for if you

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like political reasons or geopolitical

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uncertainty but of course it's more

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attractive in terms of they've had a had

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a drop in price because of the the

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Fallen Sterling so if you're sitting in

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I know in Singapore or or in Russia um

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that house in a smart part of London is

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going to cost you 15 20% less than it

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would have done earlier this year but

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interly enough they're not coming which

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is I think the the Intriguing point now

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you know the city inside out we were

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treated in the runup to the uh EU

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referendum to all kinds of fear stories

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that the city of London would basically

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have a plug pulled and and go down the

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drain we've got big institutions warning

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that they might relocate out of London

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how serious a threat is that and if it

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were to occur wouldn't that trigger some

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kind of re-calibration of the British

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economy away from Finance capitalism

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back to what we once were as as an

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industrial and Manufacturing country um

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yeah I think there's truth in both of

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those things I mean I I would certainly

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say that the city is too big for uh the

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UK economy uh so it is unbalanced and

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there's a lot of work being done that

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says in fact the city could be onethird

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of the size and still deliver everything

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that the UK economy needs and you know

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so much it's it's bigger than it should

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be because it makes so much money you

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know and it's not lending money to the

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real economy it's it's it's sort of

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lending money as an end in itself to

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make money for itself so it could be

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shrunk and that would not be disastrous

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for the British economy in terms of

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whether they're all going to up sticks

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and move to Frankfurt or Luxembourg or

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um Dublin it's a bit too early to say it

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does well the two things one it depends

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on the nature of any deal that comes

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into place if we ever do leave the EU um

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and secondly is whether or not you can

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fudge it you know that that if you if

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you put a few people saying into

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Luxembourg and call one of them a

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managing director does that mean in fact

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that the business is located in

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Luxembourg and can actually carry on

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here so I think that the

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um whether there'll be a mass migration

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is still very much up in the air well

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that'll partly depend on what kind of

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brexit won't it um and that's what I'd

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like to turn to now uh there's a poll

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today saying the majority of British

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people want to stay in the single Market

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but control immigration as we know these

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two things are at least at the moment uh

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incompatible you cannot have one uh with

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the other uh what's your best guess on

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what the British government's

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negotiation will produce on

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this um well as you say the the sters

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they want the cake and eat it

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um

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I

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at the moment I think they're obviously

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not going to get free movement of Labor

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uh or or uh be able to restrict that if

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only because you know it if you look at

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the eastern part of the EU Poland

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Romania I mean those countries free

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movement is very integral to them um and

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uh they are not going to agree to a deal

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where that that gets unscrambled I would

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have thought um where we end up uh I

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mean who knows I I I I wonder whether

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the way the world is going in 18 months

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two years time whether there won't be a

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big rethink you know in the EU as well

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as here and it is possible that the

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whole EU project gets recast in a way

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that's acceptable to us but to answer

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your question specifically I think if it

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comes to a choice the British government

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would as well leave both rather than um

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agree to definitely it's politically

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untenable to accept free movement of

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labor after all that was the major Reon

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why we why we voted to leave it's

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therefore the case that we'll have to as

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of today forly leave the single Market

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but we had Steve Norris The prominent

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conservative uh here just a few weeks

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ago he was making the point that that

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doesn't necessarily mean tariffs because

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German motor manufacturers don't want to

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see tariffs put on our Goods because

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we'll retaliate putting tariffs on

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theirs and they won't be able to sell

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their uh product so we could be out of

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the single Market but still trading with

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the members of the EU couldn't we uh in

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theory yes but you then get into

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complicated things with the world

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Traders organization and membership of

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that which um basically I'm not

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Authority on the detail of it but you

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can't do a favorable deal with one

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country as it were without offering it

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to others and so there are

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complications about how you go going

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forward but to your point or to Steve

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Norris's point about Germany sells a lot

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of cars here that is true but Germany

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not many other EU countries export a

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great deal to us I mean the bulk of what

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we export and it comes from Germany oh

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and of course Ireland as well um and

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given that there are 28 Nations in the

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EU and they've all got to agree to some

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kind of deal then Germany is seriously

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outvoted albeit it has a lot of

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clout well look let's take a break there

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uh there's much more where that came

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from after

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this welcome back to Sputnik president

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Trump yes president Trump intends both a

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massive increase in infrastructure

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expenditure and massive tax cuts how

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will he deal with the resultant rise in

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the deficit he promises economic

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protectionism for American jobs and an

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enter trade deals with the world and

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America at the back of the queue for the

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likes of ttip is all this something to

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fear or as Roosevelt put it is Fear The

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Only Thing Worth fearing Anthony Hilton

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a captain of capitalist journalism is

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still with us on the Sputnik are you

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afraid of the Trump economic

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prescription seem seems in Orthodox

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capitalist terms rather Reckless if he

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means it putting the Rust Belt back to

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work with big infrastructure uh projects

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whilst cutting taxes seems like a recipe

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for ruin uh could be but equally um it

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could work I mean clearly take the good

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parts America clearly needs uh a to

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provide more jobs for its people and B

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to upgrade its infrastructure so it's

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worth borrowing to do that uh in terms

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of uh the budget deficit in the states

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they've got a lot of headro there quite

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honestly they they could run it as a

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deficit or they could raise the money in

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the bond markets I think the interesting

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thing is where this goes after that I

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mean clearly the the stock market and uh

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if you like uh my capitalist FS are um

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making a lot of money at the moment in

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the hope that it will revive the

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American economy and if it does revive

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the American the American economy then

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you know the bills pay for itself you

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get more tax revenue and the deficit is

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a transitory thing not a not a lasting

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milstone although he's going to cut

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taxes he is going to cut taxes yes um

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and in a way it's a harking back to what

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vagan did 30 odd years ago and that did

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create a big hole in the budget which

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actually was never really filled until

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Clinton came in it took a long time but

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in fact you know you you probably net

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net the economy was better off because

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more people were in work even if the

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overall budgetary situation was was was

335
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poor no I uh predicted Trump's Victory

336
00:15:09,240 --> 00:15:14,120
one of the few who did because I know

337
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the state of the Rust Belt and where

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00:15:14,120 --> 00:15:19,199
that lies on the pathway to the

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presidency these swing states that he

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00:15:19,199 --> 00:15:26,120
won like Wisconsin like Michigan like

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Ohio and came very close to winning some

342
00:15:26,120 --> 00:15:33,120
others uh the bitterness and anger in

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these places at the clintones burning of

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their industrial base uh was something

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that was always likely it seemed to me

346
00:15:40,440 --> 00:15:45,880
to Scupper a a Clinton running for

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office after all she was a chief

348
00:15:45,880 --> 00:15:55,160
advocate of of the NAFTA and of ttip and

349
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the uh Asian Pacific uh equivalent and

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that's what's done for American industry

351
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isn't it well to a point I mean I I

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think even if there' been no uh NAFTA

353
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and ttip obviously hasn't

354
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happened uh America was still vulnerable

355
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to cheap Imports once China came on the

356
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scene with uh you know an extra billion

357
00:16:14,319 --> 00:16:20,839
uh workers in the industrial system then

358
00:16:19,000 --> 00:16:23,480
they were obviously going to flood the

359
00:16:20,839 --> 00:16:25,399
world with um with cheap goods and

360
00:16:23,480 --> 00:16:27,399
America just couldn't compete only if

361
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you let them of course and he stood

362
00:16:27,399 --> 00:16:33,880
outside uh for Motor plant I presume in

363
00:16:31,279 --> 00:16:36,839
Michigan certainly in the rust Bel and

364
00:16:33,880 --> 00:16:40,720
he said if you close this Factory Mr

365
00:16:36,839 --> 00:16:43,240
Ford uh I'm going to put massive tariffs

366
00:16:40,720 --> 00:16:45,759
on anything you produce in Mexico that

367
00:16:43,240 --> 00:16:50,519
should have been produced in this plant

368
00:16:45,759 --> 00:16:53,360
that's almost uh socialist talk isn't it

369
00:16:50,519 --> 00:16:56,600
um yeah I mean you can go back to closed

370
00:16:53,360 --> 00:16:59,560
economies but uh economic theory and

371
00:16:56,600 --> 00:17:03,160
indeed the reality since the the war

372
00:16:59,560 --> 00:17:06,400
since 1950 is

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that uh trade between nations with each

374
00:17:06,400 --> 00:17:10,720
specializing on what it does best

375
00:17:08,600 --> 00:17:12,799
creates a better outcome for everybody

376
00:17:10,720 --> 00:17:15,559
the trouble is that the outcomes or the

377
00:17:12,799 --> 00:17:18,319
better outcomes are not evenly shared

378
00:17:15,559 --> 00:17:20,600
and the issue in the states and in the

379
00:17:18,319 --> 00:17:22,520
UK and indeed the rest of Europe is that

380
00:17:20,600 --> 00:17:26,079
the benefits of globalization have gone

381
00:17:22,520 --> 00:17:27,799
to a few not the many and so the the

382
00:17:26,079 --> 00:17:30,360
issue is actually that that should have

383
00:17:27,799 --> 00:17:33,320
been addressed rather than that you uh

384
00:17:30,360 --> 00:17:36,559
you stop globalization I would say the

385
00:17:33,320 --> 00:17:38,440
the outcome has been beneficial for the

386
00:17:36,559 --> 00:17:41,480
capitalists and a

387
00:17:38,440 --> 00:17:43,039
comprador uh around them but for the

388
00:17:41,480 --> 00:17:45,679
mass of the people and this is true of

389
00:17:43,039 --> 00:17:48,240
the brexit debate for the mass of the

390
00:17:45,679 --> 00:17:50,840
people they don't pluck any of the

391
00:17:48,240 --> 00:17:53,120
fruits of globalization so I'm asking

392
00:17:50,840 --> 00:17:55,520
you as a man of the left and you a man

393
00:17:53,120 --> 00:17:59,039
who knows the capitalist system very

394
00:17:55,520 --> 00:18:02,280
very well um why should we believe in

395
00:17:59,039 --> 00:18:06,520
free trade what's so great about free

396
00:18:02,280 --> 00:18:09,600
trade why can't we do as much as we can

397
00:18:06,520 --> 00:18:12,880
build and create for

398
00:18:09,600 --> 00:18:15,240
ourselves because ultimately you can't

399
00:18:12,880 --> 00:18:19,120
do it all I mean I have in my pocket an

400
00:18:15,240 --> 00:18:21,280
iPhone um and as I'm sure you have we

401
00:18:19,120 --> 00:18:24,760
don't make those in the UK do you want a

402
00:18:21,280 --> 00:18:27,600
life without um mobile telephony and you

403
00:18:24,760 --> 00:18:29,559
want to life without um all sorts of

404
00:18:27,600 --> 00:18:32,960
products that are

405
00:18:29,559 --> 00:18:35,799
we invented industry here in this

406
00:18:32,960 --> 00:18:39,799
building is the Adam Smith Institute or

407
00:18:35,799 --> 00:18:42,400
one of the offshoots of uh we invented

408
00:18:39,799 --> 00:18:45,559
we were the workshop of the world can't

409
00:18:42,400 --> 00:18:47,280
we make mobile telephones um we could

410
00:18:45,559 --> 00:18:49,080
make mobile telephones the issue is

411
00:18:47,280 --> 00:18:51,000
whether we could do them as well as

412
00:18:49,080 --> 00:18:53,200
somebody else and do you want a kind of

413
00:18:51,000 --> 00:18:57,400
inferior mobile telephone I mean we made

414
00:18:53,200 --> 00:19:01,159
ships we um made cars we made all the

415
00:18:57,400 --> 00:19:04,039
industrial fabric all the nations 150

416
00:19:01,159 --> 00:19:06,440
odd years ago but other nations came

417
00:19:04,039 --> 00:19:08,400
along who did it better and we in turn

418
00:19:06,440 --> 00:19:11,159
have specialize in other things and what

419
00:19:08,400 --> 00:19:14,240
we're good at today are um uh computer

420
00:19:11,159 --> 00:19:17,120
software health education Finance

421
00:19:14,240 --> 00:19:20,559
although uh it has issues um a lot of

422
00:19:17,120 --> 00:19:23,360
these soft uh intellectually intensive

423
00:19:20,559 --> 00:19:24,880
Pursuits uh creative Pursuits um the

424
00:19:23,360 --> 00:19:26,480
appeal to Something anarchic in the

425
00:19:24,880 --> 00:19:29,280
spirit of the British but we do that

426
00:19:26,480 --> 00:19:30,880
extremely well and we sell that to the

427
00:19:29,280 --> 00:19:32,039
rest of the world so that's what we

428
00:19:30,880 --> 00:19:34,840
should specialize in because we'll

429
00:19:32,039 --> 00:19:36,720
always if you like not always but we

430
00:19:34,840 --> 00:19:38,640
might well be much better at inventing

431
00:19:36,720 --> 00:19:42,240
computer games than we are now at

432
00:19:38,640 --> 00:19:44,480
assembling a a car on a production line

433
00:19:42,240 --> 00:19:46,400
indeed and in my own city of Dundee

434
00:19:44,480 --> 00:19:48,600
that's what they do they invent computer

435
00:19:46,400 --> 00:19:52,679
games they're the world's leader in that

436
00:19:48,600 --> 00:19:55,600
but you know the the the point that you

437
00:19:52,679 --> 00:19:57,799
make that we should specialize in what

438
00:19:55,600 --> 00:20:00,600
we're good at and better than the rest

439
00:19:57,799 --> 00:20:02,600
of the world at at the moment the time

440
00:20:00,600 --> 00:20:05,440
will come when we're no longer best at

441
00:20:02,600 --> 00:20:07,720
that I mean the Indians and the Chinese

442
00:20:05,440 --> 00:20:10,000
and the Russians and so on they're not

443
00:20:07,720 --> 00:20:12,120
stupid people they'll soon be able to do

444
00:20:10,000 --> 00:20:14,440
all those things that you say we

445
00:20:12,120 --> 00:20:17,320
specialize in just as well if not better

446
00:20:14,440 --> 00:20:19,440
than us and then where will we be yes

447
00:20:17,320 --> 00:20:21,600
but I mean that that's a separate issue

448
00:20:19,440 --> 00:20:23,039
that I think is different from this

449
00:20:21,600 --> 00:20:25,760
debate because I mean I think the real

450
00:20:23,039 --> 00:20:28,919
challenge is not sorting out the mess

451
00:20:25,760 --> 00:20:31,919
we're in now it's the mess to come where

452
00:20:28,919 --> 00:20:35,080
the Advent of digital technology I mean

453
00:20:31,919 --> 00:20:37,960
you the there are surveys done which say

454
00:20:35,080 --> 00:20:39,640
that a quarter of businesses will be out

455
00:20:37,960 --> 00:20:41,840
of business within 5 years because of

456
00:20:39,640 --> 00:20:43,919
the impact of technology that you know

457
00:20:41,840 --> 00:20:45,880
all half the children in school will

458
00:20:43,919 --> 00:20:49,000
have to find jobs that haven't even been

459
00:20:45,880 --> 00:20:53,480
invented yet uh you know the real threat

460
00:20:49,000 --> 00:20:55,600
to the UK to the US to Europe is coming

461
00:20:53,480 --> 00:20:57,960
from this huge technological wave that

462
00:20:55,600 --> 00:20:59,799
is about to fake on our Shores and while

463
00:20:57,960 --> 00:21:01,720
we're as focusing on the issues of

464
00:20:59,799 --> 00:21:03,760
globalization and uh you know whether we

465
00:21:01,720 --> 00:21:06,600
can recreate a motor industry or

466
00:21:03,760 --> 00:21:08,120
whatever we're ignoring an much bigger

467
00:21:06,600 --> 00:21:09,559
threat that's just coming towards us are

468
00:21:08,120 --> 00:21:12,919
you suggesting that it comes from the

469
00:21:09,559 --> 00:21:14,440
East uh I'm it's coming from technology

470
00:21:12,919 --> 00:21:16,279
and the application of technology and

471
00:21:14,440 --> 00:21:19,880
the fact you know it could be robotics

472
00:21:16,279 --> 00:21:22,720
it could be AI comes down or AI all

473
00:21:19,880 --> 00:21:25,240
these things which uh we at a kind of

474
00:21:22,720 --> 00:21:28,159
Tipping Point in technology which is

475
00:21:25,240 --> 00:21:30,039
going to sweep away so many jobs that

476
00:21:28,159 --> 00:21:32,559
you know what's happened so far is just

477
00:21:30,039 --> 00:21:35,960
AED and that's I think we need

478
00:21:32,559 --> 00:21:39,799
desperately to start educating our kids

479
00:21:35,960 --> 00:21:41,480
in school to cope with what is coming

480
00:21:39,799 --> 00:21:44,240
rather than sort of focusing on trying

481
00:21:41,480 --> 00:21:47,440
to recreate what we had you know 30 50

482
00:21:44,240 --> 00:21:50,559
even 100 years ago is Trump a man of the

483
00:21:47,440 --> 00:21:53,159
left or a man of the right economically

484
00:21:50,559 --> 00:21:55,400
speaking actually bizarrely a lot of

485
00:21:53,159 --> 00:21:58,159
what he says is is of the left I mean

486
00:21:55,400 --> 00:22:01,720
the infrastructure spend and so on is

487
00:21:58,159 --> 00:22:04,000
really quite Keynesian um and quite at

488
00:22:01,720 --> 00:22:06,159
odds with liberal economics and indeed

489
00:22:04,000 --> 00:22:09,559
at odds with a lot of what his own party

490
00:22:06,159 --> 00:22:12,279
in Congress uh believe so and odds with

491
00:22:09,559 --> 00:22:13,840
the Dem so-called Democratic party once

492
00:22:12,279 --> 00:22:16,360
the party of the working class in

493
00:22:13,840 --> 00:22:19,039
America so there interesting tensions in

494
00:22:16,360 --> 00:22:21,159
in in the chump program of how much he

495
00:22:19,039 --> 00:22:23,480
will get through before you know he

496
00:22:21,159 --> 00:22:25,720
starts meeting hostility within as it

497
00:22:23,480 --> 00:22:27,080
were and it may well be on the budgetary

498
00:22:25,720 --> 00:22:29,360
point you know your point about the tax

499
00:22:27,080 --> 00:22:32,360
cuts that much as Republic an like tax

500
00:22:29,360 --> 00:22:33,840
cuts they also like balanced budgets and

501
00:22:32,360 --> 00:22:36,080
you know the two are incompatible in the

502
00:22:33,840 --> 00:22:38,840
short term well George Bush Senior you

503
00:22:36,080 --> 00:22:42,720
remember famously said read my lips no

504
00:22:38,840 --> 00:22:46,679
new taxes and indeed lost the election

505
00:22:42,720 --> 00:22:49,240
largely on that broken uh promise but

506
00:22:46,679 --> 00:22:51,679
isn't Trump setting out to show us that

507
00:22:49,240 --> 00:22:56,200
something that the capitalists would

508
00:22:51,679 --> 00:22:58,640
rather leave hidden namely that issues

509
00:22:56,200 --> 00:23:01,799
like the deficit and so on are kind of

510
00:22:58,640 --> 00:23:05,400
smoke and mirror trick because as QE

511
00:23:01,799 --> 00:23:08,039
proves you can print money if the money

512
00:23:05,400 --> 00:23:12,760
is being used for good productive

513
00:23:08,039 --> 00:23:14,919
purposes as you say uh the net result is

514
00:23:12,760 --> 00:23:17,640
positive yeah I mean if you can borrow

515
00:23:14,919 --> 00:23:19,919
it 1% and what your building is worth

516
00:23:17,640 --> 00:23:22,679
yielding two or three or 4% why wouldn't

517
00:23:19,919 --> 00:23:24,880
you do it um the the issue with

518
00:23:22,679 --> 00:23:27,400
government spending is when you don't

519
00:23:24,880 --> 00:23:29,000
get anything in return or or you know

520
00:23:27,400 --> 00:23:31,440
you're not actually improving the

521
00:23:29,000 --> 00:23:34,159
infrastructure be it schools hospitals

522
00:23:31,440 --> 00:23:37,000
roads whatever the the children thing

523
00:23:34,159 --> 00:23:39,400
might be um so it's quite easy to borrow

524
00:23:37,000 --> 00:23:42,799
money and squander it uh and Zimbabwe if

525
00:23:39,400 --> 00:23:46,200
you like is is the oft quoted example

526
00:23:42,799 --> 00:23:47,760
but deficit financing by itself is not

527
00:23:46,200 --> 00:23:50,240
necessarily a bad thing it's how you use

528
00:23:47,760 --> 00:23:53,760
the money Adam Smith just fell off his

529
00:23:50,240 --> 00:23:56,000
perch elsewhere in this building Anthony

530
00:23:53,760 --> 00:23:58,120
Hilton it's been a pleasure as always uh

531
00:23:56,000 --> 00:23:59,679
talking to you in a word are you an

532
00:23:58,120 --> 00:24:02,480
optimist Optimist or a pessimist about

533
00:23:59,679 --> 00:24:03,720
Britain's future oh I'm an optimist

534
00:24:02,480 --> 00:24:07,360
people are

535
00:24:03,720 --> 00:24:09,600
just Anthony Hilton the dwen of

536
00:24:07,360 --> 00:24:12,030
financial journalists joining us for a

537
00:24:09,600 --> 00:24:14,600
special edition on the

538
00:24:12,030 --> 00:24:16,799
[Music]

539
00:24:14,600 --> 00:24:19,159
Sputnik and now it's your turn to tell

540
00:24:16,799 --> 00:24:21,799
us what you think through the portals of

541
00:24:19,159 --> 00:24:24,159
social media what's rling gri so we

542
00:24:21,799 --> 00:24:27,120
wondered what president Trump will mean

543
00:24:24,159 --> 00:24:30,080
for Great Britain and the world economy

544
00:24:27,120 --> 00:24:32,159
so zamir says there are too many

545
00:24:30,080 --> 00:24:35,200
variables to judge at the moment

546
00:24:32,159 --> 00:24:38,440
protectionism and civil Strife perhaps

547
00:24:35,200 --> 00:24:40,799
and Yan says a really really hope for

548
00:24:38,440 --> 00:24:42,880
positive radical change but I can't see

549
00:24:40,799 --> 00:24:45,080
the establishment giving up

550
00:24:42,880 --> 00:24:48,399
neoliberalism radical change will happen

551
00:24:45,080 --> 00:24:53,120
only through people power and Joey Zar

552
00:24:48,399 --> 00:24:56,480
says do as Wall Street says or die and

553
00:24:53,120 --> 00:24:59,120
finally jd1 says H I can see some roof

554
00:24:56,480 --> 00:25:00,640
touchers being busy right now

555
00:24:59,120 --> 00:25:04,000
that's the big question I should have

556
00:25:00,640 --> 00:25:06,640
asked is it a wig or not some people say

557
00:25:04,000 --> 00:25:09,120
that it isn't I hope nothing bad happens

558
00:25:06,640 --> 00:25:11,799
to president Trump but I do hope someone

559
00:25:09,120 --> 00:25:13,840
gets close enough to pull his wig off uh

560
00:25:11,799 --> 00:25:16,240
because that would be the ultimate

561
00:25:13,840 --> 00:25:18,399
ignominy uh whether Trump is a man of

562
00:25:16,240 --> 00:25:21,000
the left or the right is of course an

563
00:25:18,399 --> 00:25:24,240
open question but I've got to be honest

564
00:25:21,000 --> 00:25:28,399
with you for me his economic plans as

565
00:25:24,240 --> 00:25:30,120
announced are of the left not said

566
00:25:28,399 --> 00:25:32,320
exactly that's all the tweets that we

567
00:25:30,120 --> 00:25:34,279
have time for today which alas means

568
00:25:32,320 --> 00:25:35,960
that's the end of the show but you can

569
00:25:34,279 --> 00:25:39,159
stay in touch with us on social media

570
00:25:35,960 --> 00:25:41,360
through Twitter rtor Sputnik on Facebook

571
00:25:39,159 --> 00:25:43,399
Sputnik on Russia today it's goodbye

572
00:25:41,360 --> 00:25:46,520
from me gatri and from me George

573
00:25:43,399 --> 00:25:46,520
Galloway it's been

574
00:25:57,240 --> 00:26:02,440
marvelous

575
00:25:59,440 --> 00:26:02,440
w