'This Week' Transcript: Crisis in the Classroom

Now, I'll give you -- I'll give you one brand, like McDonald's. McDonald's, in -- in England, is -- has had its best three years ever, profitability. It only sells organic milk, free range eggs. You know, it's got an incredible standard of beef. And their ethics is really -- and moving. But that's nothing like the one in the States. And the only, you know, distinguishing part is the public and what they expect.

You know, for me, from what I've learned from America is if you can be humble in your approach, work with people and let them find the -- let them find this food revolution, I think they have the capacity to change more aggressively and better than any country in the world. I -- I believe that. That's my belief.

AMANPOUR: On that note, thank you so much for joining us, Jamie Oliver.

OLIVER: Take care. Thanks for having me.



BUSH: We are dealing with one of the worst natural disasters in our nation's history.

(UNKNOWN): We need the National Guard, Mr. Bush. Please send somebody down here to help us.

(UNKNOWN): The situation grows ever more critical for those stranded in the city.

(UNKNOWN): Please help. I'm asking for anybody to help us.


AMANPOUR: Remembering Katrina, on this, the fifth anniversary, one of our topics for our roundtable with George Will, Susie Gharib, anchor of the "Nightly Business Report" on PBS, Richard Haass, president of the Council on Foreign Relations and author of "War of Necessity, War of Choice," about the Iraq war, and Democratic strategist Donna Brazile.

Welcome to you all. Good morning.

HAASS: Good morning.

GHARIB: Good morning.

AMANPOUR: We're going to start with the economy, of course, because it is at the top of everybody's minds. And some of the stats that came out this week on the existing home sales in July, they were down 27.2 percent, new home sales in July down 12.4 percent, and also the second quarter GDP revised downwards to 1.6 percent.

Where does the country go from now?

WILL: Well, the question is, does the country go anywhere or are we in for, some people say, a lost decade, such as Japan has had, not a double-dip recession, but sort of a flat stagnation?

The problem is that we seem to be having something like a general strike. That's usually a term of the left, indicating labor against capital. Who's on strike now are, A, the investors, the investing class, partly because they're getting free money at 0 percent interest rates. They can put that money in safe investments or in government bonds and make a tidy profit, the banks can.

And the consumers are on strike. The consumers are still heavily in debt compared to their historical norm. They've seen their 401(k)s whither, and they're becoming frugal, which is normally a virtue, but now an inconvenience.

AMANPOUR: The Federal Reserve chairman made a statement on Friday. I mean, he basically said that they're standing by ready to do what they have to do if it gets to dire. Is it not dire?

HAASS: Go ahead.

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