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tv   Boom Bust  RT  July 21, 2017 8:29pm-9:01pm EDT

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we shall never go again in our ability. or should know that there is still yet we do what we must when they went. on larry king you're watching our t.v. amount per student more.
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i'm lindsey francis is the boss broadcasting around the world from washington d.c. tonight we have more emissions scandal information from around the world are manufacturing giants get set to admit wrongdoing and cough up the billions of dollars in cash for recalls and government finds and venezuela is still in trouble and it's heating up again we fill you in on what both sides stand accused of now and my guests and i delve into the first sixty days of a trump presidency former u.s. trade commissioner bart chilton joins me for this stand by us starts right now.
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german automaker audi the luxury brand of the volkswagen group will retrofit up to eight hundred fifty thousand diesel cars with new software to improve their emissions performance it's admitted to creating software which turned on emissions controls during lab tests and then illegally turned them off when the cars were on the road in order to improve performance in total five german automakers mercedes benz. volkswagen and its subsidiaries audi imports recalls six hundred thirty thousand diesel vehicles in europe after it was found they also manipulated emissions audi is now set to fork over one point three billion dollars in a payout to the state of california alone over this it's compounded by a four point three billion dollars settlement due to the us government the global cost of fines and compensation is estimated at around twenty two billion euros or
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more. and if you've ever suspected that online retailers recognize your account or ip address then proceed to use the prices over time the federal trade commission says you may have been right a consumer watchdog prompted the f.t.c. investigation into around one thousand products on amazon's web site in june it noticed that sixty one percent of amazon's reference prices were higher than it had sold the same product four in just the previous ninety days this is bad news for consumers and it's coupled with a new move by a long time american retailer sears which has signed on to save itself its former footprint of thirty four hundred stores nationwide has shrunk by two thousand it's got the largest distribution of kenmore appliances in the country though which it plans to feature on amazon its shares jumped twenty two percent on this news but as this f.t.c. investigation moves forward you may want to keep an eye on those price comparisons
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. well foreign buyers are about to have a much harder time acquiring american companies and the reason for that goes far beyond economic concerns who has more on this for us right now bianca what is the cause for this roadblock these foreign acquisitions well as far as we know it's over concerns about national security so even though it's the treasury that is involved in monitoring these sort of deals we could eventually see other government departments and agencies getting involved as well earlier this week u.s. treasury secretary steven newton met with chinese leaders in washington it was part of the us china comprehensive economic dialogue which is meant to foster discussion over the economic ties between both countries during the meeting newton expressed his desire to work together and maximize the benefits for both sides and he added
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this is only possible if there is a more fair and balanced economic relationship between the united states and china this means providing access for american firms in china as we provide access for chinese firms in the united states but it doesn't look like the u.s. will be providing extensive access to chinese firms so far this year the u.s. government has rejected nine acquisitions of american companies from foreign buyers those objections followed complaints from the committee on foreign investment in the united states regarding concerns over national security while the changes affect foreign buyers everywhere this will notably impact china in two thousand and seventeen chinese firms by eighty seven u.s. companies and that's up from last year's record of seventy seven it comes at a crucial time for china as the government restricts capital outflow to preserve foreign exchange reserves it's also unclear how this could impact chinese investment in u.s. real estate which is just hit
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a record high in two thousand and sixteen china. buyers purchased thirty one point seven billion dollars worth of u.s. homes up nearly four million dollars from two thousand and sixteen that rate is expected to cool down a bit this year but it's still anticipated to continue somewhat strongly in the years to come according to the o.e.c.d. just eighteen ownership of foreign real estate compared to g.d.p. buying a business is different than buying residential property but both could be influenced by future policy decisions ok so what industries have been affected by this the mouse will you know the rules certainly don't discriminate here but the biggest sector that has been impact is the tech sector because a lot of these concerns were guard cyber security and cyber attacks that could happen so it's important to know that if this committee does come forward with a complaint about certain potential deals happening doesn't immediately kill them it just kind of puts them on hold but of course not every international firm is
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going to have the time and money to wait around because of the they don't try to wait around and stick it out you know it could their second line behind hundreds of other companies that are trying to buy up companies here as well right so other countries cutting down on foreign buying to throw you out of the whole list of people that are kind of way way back it's certainly not just the u.s. actually last year australia blocked chinese firms from buying stakes in oscar it which is a state owned electricity company for the same reason they have the national take over state owned electricity big secret ok and even in times talking about the elephant the room yeah. so they it was about a fifty percent stake in the company australia said no because of national security concerns but they ended up realizing that you know they lost out on a bit of money because they gave it to local firms instead and their valuation was a few million dollars lower so obviously safety is first but that is something to
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consider when pushing out foreign buyers instead. america first or any other if you're prioritizing local firms and companies right on australian for australia first first america i doubt they used the i don't i don't think so i'm not quite all right and not only that you know as well as i do the lot of chinese people buy up real estate here so they can get visas and i think there's also a clampdown on that as well absolutely in many of the big cities around the nation and we'll see if there is for the clampdown coming up a lot of money to lose out on now thank you so much. the crisis in venezuela is deepening after a twenty four hour nationwide strike shut down parts of the capital to ignite it more clashes between anti-government protesters and the police venezuela's opposition called the strike to protest president nicolas maduro plan to rewrite the constitution and strengthen his party's power the material government says it will move forward with the controversial election of a constituent assembly on july thirtieth this is despite
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a threat of economic sanctions by the u.s. for more we cross live now to our miami marina you've been following this story since it began according to reports the last venezuela that venezuela experienced such a massive national strike was back in two thousand and two and that's when the opposition tried to oust former president chavez thursday strike was successful in creating chaos but it's brought chaos and as we've seen on you know televisions around the world people can see this unfolding on the streets there and it's a burden to ordinary people as the opposition gets closer to its main objective to what do you what do you say about where this is all headed now. the question is will they get what they want the opposition and it appears that the short answer is no president nicolas maduro has the backing of the country's powerful military and his supporters and thus far he refuses to give in to the demands of the protesters
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unfortunately this has led to an estimated one hundred deaths since anti-government demonstrations began in april and on thursday clashes between protesters and venezuelan police broke out in different points of the capital groups of masked men young men set fire to a handful of blockades and hurled stones at riot police who fired back a tear gas businesses were shuttered public transport stalled and streets were deserted in areas affected by the strike now while the international media and the opposition view the strike as a success it was a costly inconvenience to ordinary people the blockade and chaos prevented countless citizens from getting to work forcing many to sacrifice a day's salary is under fire for plans for a july thirtieth election of a citizen's body a constituent assembly to rewrite the constitution now critics see it as a power grab venezuelan's ambassador to the u.n. resigned thursday night insisting he can no longer work for the administration. my little has been violating the rights he has been systematically persecuting
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civilians he is protecting and courage. state terrorism against civilians he has been responsible for more than one hundred deaths of crimes against humanity torture and political prisoners and it is time for him to go. that as well has grappled with a deadly political and economic crisis as low crude oil prices have forced the government to cut back or eliminate its socialist programs this has led as you've reported lindsey over and over again it's led to food and medicine shortages and skyrocketing unemployment in the country. well u.s. president of course he's been threatening to take strong and swift action economic action specifically against the venezuelan government if it does move ahead with the july thirtieth election and how is responded to this well president nicolas
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maduro as expected has been quite defiant he's rejected the white house's calls to halt a rewriting of the constitution insisting that venezuela will respond firmly to any economic sanctions imposed by the u.s. on tuesday the socialist party leader blamed the united states for supporting and inflaming violent protests in his country ok i don't believe it will the united states asks the venezuelan government to abandon its proposal for a national constituent assembly the government of venezuela responds the proposal of the original constituent power and for the national constituent assembly is already in the hands of the people and so he belongs to the sovereign people of venezuela who will exercise their right to vote on july thirtieth and to no one else. while the majority government has been facing widespread opposition it's important to point out that eighty grassroots movements across south america. known as the people somehow proclaim their support for the democratic democratically
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elected government that we're going to zation as criticize america's meddling in venezuela's domestic affairs it has also condemned. south america's trade bloc for suspending venezuela's membership back in december twenty sixth seen obviously this is not the end of the crisis in the chaos there but for now the government of venezuela seems defiant against all the opposition. in miami thank you so much for covering this for us thank you time now for a quick break stick around though when we get back exxon mobil is fined millions for working with russian business giants that were put under sanctions by the u.s. back in two thousand and fourteen and my guests former u.s. attorney commissioner bart chilton joins you can take apart president bush six months in office as we go to break check out the numbers the closing bell.
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why would you put the. little bit on the. board you should you know. what about. that one. word more. oh. in the us a child can choose a school. with a retired officers as teachers we don't. recruit will says to you if the cadet is
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interested in going in the military but we don't recruit ourselves. the pentagon is funding a program to boost interest in the military among teenagers. to step up to an apollo so that comfortable with yourself. you can't go wrong with the military it's a great stepping stone for whatever career you want to do but some veterans are willing to tell enthusiastic children a little more they ask me call of duty is a very popular first year video game. it's play and that's because the military like call of duty to turn off call of duty oh yeah well you can turn off your lot of these kids just don't hear. the darker side does the pentagon allow them to be told or does it just need more recruits.
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exxon mobil must pay a two million dollars fine for showing what the u.s. treasury department calls reckless disregard for u.s. sanctions on russia was secretary of state rex tillerson was the oil giant c.e.o. this lawsuit was brought by the u.s. treasury department for this fine now it claims that the oil giant violated sanctions against russia when it signed contracts in may two thousand and fourteen with russian oil magnate igor sation chairman at the time of government owned energy giant rosneft us had blacklisted sation now the company says that the treasury had permitted an american c.e.o. to attend a board meeting with sation as long as it wasn't related to stations personal business the treasury department disagrees arguing that it never said there was an exception or carve out for the professional conduct of designated or blocked persons exxon sued the us government to stop this fine.
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and dozens of workers visas classified as age to be have been requested from the labor department by the trump organization it would grant foreigners the right to work at two of the president's private clubs in florida the filing came days after the administration announced it would offer an extra fifteen thousand temporary seasonal work visas this budget year according to a posting by the labor department this request includes thirty five waiters and waitresses with twenty cooks fifteen maids at the president's more along a resort in florida at the national golf club in jupiter florida a request was posted for six cooks the jobs pay anywhere from ten dollars thirty three cents to twenty dollars one cent per hour this comes on the heels of the trump administration making it more difficult for highly skilled foreign workers to snap up the coveted h one b. one visas which technology companies rely on so heavily. that's been six months since donald trump was inaugurated as president of the united states now friday his
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press secretary sean spicer suddenly resigned from his position just as wealthy financier anthony's car moves he was appointed as white house communications director the drama is nonstop so it's a good time to reflect on the presidency and look at what's coming up next here to discuss former u.s. trade commissioner bart chilton. our thanks for joining us have to write this down on the economy we've seen a couple of dozen stock market record highs and bunch of drops even if you this week donald trump's economy on a roll is a slowing down hearing it from both sides not a lot of people are too happy about the future what do you think what this real quick on the sean spicer thing i mean how difficult is it when you go before the national media and you have to say i don't know the answer because my boss hasn't told me so boy he's had a tough job and you know there were on whether or not he would leave and a lot of people thought he wouldn't amazing that he lasted so so long that's a tough iran to be in but on the economy you know i mean we keep seeing record
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after record highs i mean the dow you know twenty one six forty a new record this week nasdaq on a roll the ten days of gains the first time they've done that since the nasdaq's done it since february and the markets are up since the election seventeen percent and nine cents nine percent since you normal so they're doing pretty well i mean there are some other economic indicators that aren't quite is positive you know but but by and large the economy i think it's doing pretty well what about any negative economic indicators for talking about growth probably lindsey i mean you know one point six gross domestic product last year the first quarter which was the only quarterly numbers we have was only one point four the may numbers was one point two so again down a little bit the second quarter won't be. released until the end of this month another week and a half or so so we'll have to see i expect that they will increase significantly i
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don't believe it's going to get up to four or five or six percent that candidate trump talked about but perhaps the three percent that the council of economic advisers gary call and said three percent is still doable and it could be who knows i would be big news to me to see that three percent but very very good news president so far and geopolitics you sure you want to get to this part well we talked about it before it is very interesting there's a very interesting again so we started off you know doing these meetings with. the japanese prime minister and the president china down at mar a lago the private resort in florida had a bunch of meetings here in washington d.c. and then his first foreign forum is pretty successful in saudi arabia right not quite as successful in israel and then in in brussels in italy and then he went back with the g. twenty and to europe give a good speech in poland and really improve and then even the new president of
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france emmanuel mccrone invited him last week for business deal day and they go out along famously and ate at the restaurant in the eiffel tower until midnight supposedly so it's hard to say that you know the president hasn't done some work at building relationships by the same token his position on climate change has angered a lot of folks his position for not a new surely embracing article five which is the nato mutual defense doctrine ultimately did that is paul and speech but not at first it was sort of ruffled some feathers with world leaders and it doesn't appear there's any plan to deal with north korea which is warmongering attitude directed pretty much at the at the u.s. and continuation of their nuclear proliferation program so that and syria which we've talked about before too so lots out there lots of challenges and doesn't seem like on those key for the. medha seeing foreign policy issues that there is really a game plan. let's talk about his legislative policy and if they can if i
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can get started right exactly because then running mate you know my hands they will promise a lot when they're on the campaign trail dating back to twenty sixteen let's just listen to some of what they said and they were out something about the policies will be developing in the months ahead but the president elect has strongly supported efforts popularly advanced in the congress in years past of health savings accounts allowing americans to purchase health insurance across state lines association health plans the architecture of the replacement of obamacare will come together as it should through the legislative process in the weeks and months ahead the launch of our national rebuilding i will be asking congress to approve legislation that produces a one trillion dollar investment in infrastructure of the united states financed through both public and private capital creating millions of new jobs this effort
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will be guided by two core principles by american and high you're american nothing we're not are you ready. was we really believe we was wrong and makes you. wrong. the reason. you knew it you're going to there was progress report what do we think lots of excitement from the crowd from those voters and who are cracks there are we looking at for progress. well on the on the last one on the border wall i'm not sure that mexico still knows they're going to pay for it they've certainly said they're not going to look at it i mean that's the weakest part of the president's policy
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proposals as he hasn't got much done and he's been very reactive on health care which you know we know it's passed the house but not the senate it's being dogged down in the senate the president really sort of he said i'm waiting with my pen to sign it but he's not proactive in trying to reach a compromise he's not out there giving speeches around the country now in fairness it took president obama fourteen months to get the affordable care act passed so maybe there is you know you can give a more leeway but he's the one the president and the vice president said they were going to do it on day one then they said they could do it in february here we are six months into it and they're having a heck of a time on tax reform all they've done is a mere one page on the trillion dollar infrastructure program that he just said there in the clip he would send to congress he sent cliff notes he sent six pages you know that's not that's not acceptable and that's certainly out of the norm for presidents and as somebody asked me other day lindsey they said but you've got to
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respect that he is so different than all the republican and democrat presidents and you have in the past well what if my response was maybe because they were right. maybe he should do things sort of similarly i'm not saying don't be disruptive but by and large the policy proposals you put forward haven't gone anywhere it seems like a have ministration is intent on its ability to throw shade to blame the other side for not getting things done instead of being positive as much as barack obama struggled to get this passed there was sort of a reaching across the aisle and trying to get it passed much more certainly than this president and i think it's really frustrating for people what do you see next in congress let's point out first that there is usually a more honeymoon a honeymoon. period that's given to presidents for a longer term you think this is been taken away from him or you know i don't think he had anything and by the way when you talk about blaming the other side you know
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it's so easy and it's cynical as all get out but you know blame the other side or in the president's case blame the media right now to bill it's got to have a villain in his narrative and it's just unfortunate because they should be working together if you get elected you hope they work together but he's had no honeymoon in part because of the election tampering investigation which continues to dog him and the facts continue to come out despite the fact him and his spokespeople say there's no there there and then secondly the poll numbers are just dropping like a stone he's down to a low of thirty six percent which is the lowest since they started polling all seven hours ago and even republicans like republican of south carolina lindsey graham senator lindsey graham says some of his ideas are about the dumbest ideas he's ever heard so there's no love lost among some republicans many democrats he hasn't had a honeymoon and this comes at a time where it's going to get tougher not easier one just real quick one is the end of the year budget battles lindsey right absolutely september there we go and
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then the raising of the debt ceiling which will comprise the end of september the beginning of october those are tough votes and so it's going to be tougher not easier and i think one of the things that's interesting when we look at these numbers is that moderates traditional moderates traditional republicans you know center right who voted for trump because they couldn't stand hillary in office those are the people that you have to win over to get these polling numbers up right these are not die hard to the people wanting product and that's why he's not giving them you've watched six presidents now pretty closely. this one's different overall assessment six months before there are glimmers and gleams particularly with regard to the economy and potential for more in the legislative front but it's going to be a tough hurdle i think it's a historic. bad beginning for the president on fortunately i hope things get better in the future thank you so much for your time today former u.s. attorney mark chilton.
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shares in chipotle a fell four point five percent to close at three hundred fifty six dollars five cents their lowest point since april two thousand and thirteen mexican grill has faced food scandals two years running after customers recently tested positive for norovirus in northern virginia those problems have only grown but health officials say they don't exactly have enough information on that now to connect the dots yet we are looking at a very bad situation for this train earlier this week diners captured video of rodents crawling on the floor and up a wall to post later released a statement claiming this is an extremely isolated incident but it's marred reputation remains almost two years after any coal i outbreak that sent its sales plunging and caused a halt to its massive supply chain. that's all for now check out the show on
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youtube youtube dot com. thanks for watching for next time. there's a real irony going. to show the little things that a responsible choice need people and there is always well that's what i think it was it always. seems you know little more area no wholesale surveillance you feel you have already while those who and who is not in town has used the social media we all are always on the story because it's garbage in real soon.
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our culture is awash in lives dominated by streams of never ending electronic hallucinations that birthed fiction until they are indistinguishable we have become the most deluded society on politics as a species of endless and needless little computer politicians more than just celebrity are two ruling parties are in reality one party to corporate and those who attempt to puncture this vast breathless universe of to make news just signed to push through the cruelty and exploitation the little torn up for so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche but squeak we must.
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i'm tom hartman and i'll give you what the mainstream media can't the big picture will go deeper investigate and debate all so you can get the big picture. on larry king now luke cage star might hear the stories about people telling you can't do something and honestly sometimes you wish those people would tell you that so then you could have a chip on your shoulder to keep you going a lot of times i had to manifest this kind of thing because i had so many people who are supportive i'm very aware i was going to represent a lot of people but i my journey was a little different you're only as good as the person you're working across from especially when you talk about villains because the good guy no one cares about the good guy if the villain is not a threat and so we needed that to work with the villain oh yeah like i think like i like playing bad guys you wore a hoodie i think we all thought that this was the time to sort of pay homage to the things that were going on in society obviously trayvon martin would.

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