tv Boom Bust RT November 10, 2017 11:30am-11:59am EST
my. that's turmoil has killed over the border but it's no surprise is it a mass arrest of government ministers wealthy businessmen and even members of the royal family in saudi arabia means the government is taking control of their assets in june all the way back in june crown prince mohamed bin solomon assumed the title of heir to the throne and he's waited a bit and now he's pushed forward drastic actions and what he calls a move to oust corruption and modernize the kingdom assets of those arrested amount to an estimated eight hundred billion dollars most of it is not held within saudi arabia regulators in the united arab emirates have been ordered to dig out the accounts of at least nineteen saudis holding their money in the u.a.e. banks. possible prelude to freezing their accounts well commercial banker say
they've got no explanation from the government but they've got a pretty good idea why they've been given their marching orders. what went down is now coming up its oil prices and its record levels for u.s. oil exports on top of it thanks in part to shale deposits in places like the dakotas producing more than ever and supply cuts by major export hours brant crude was up fifty nine cents to sixty four oh wait a barrel not too far off what we saw tuesday is sixty four sixty five it's the highest since june two thousand and fifteen increasing outspread is worry over the political of people in saudi arabia according to the energy ministry there in december the kingdom plans to cut crude export by one hundred twenty thousand barrels per day as a member of the organization of petroleum exporting countries saudi arabia as you might guess has cut production as part of an effort to stem a global oil glut it's had some limited success there
a meeting in november is expected to produce an extension of that deal past march two thousand and eighteen but let's not forget what's hit what hits people most in the united states gas prices are up thirty four cents from a year ago averaging out now at about two dollars fifty four. on thursday president trump wrapped up his two day trip to china but before jetting off to vietnam and the philippines he addressed one topic that everyone was waiting for for she has more on that for us before and after his election president trump consistently criticized china for being a currency manipulator he also pointed fingers at china for stealing jobs from u.s. workers outsourcing during the second part of his tour in beijing he struck a very different tone it is a very one sided and unfair one book but. i don't blame
china. after all. who can blame a country for being able to take advantage of another country for the benefit of its citizens i give china great credit. trump added in his remarks that he blames his predecessors for the current trade deficit and the way it's impacting american workers and chinese president g. also had some things to say about trade she even said he wants to make it easier for american companies to do business in china. opening up to the outside world is the fundamental state policy of china china will open its doors wider instead of closing it or we will push forward the set up of new patterns of opening under the strategy guidance decided by the nineteenth party congress the investment management environment for foreign interests including those in the u.s.
will be more open more transparent and more zander dies after talking trade both leaders touched on north korea trump expressed his desire to liberate the region and she said china would continue to enforce the united nations security council resolutions a press conference marked the end to trump's china portion of his tour across asia which will finish up with stops in vietnam and the philippines and while he's in vietnam he'll attend the annual asia pacific economic cooperation summit where leaders will discuss free trade throughout the region this year's meeting is likely to include tougher talks and negotiations with trump's america first message disrupting global trade relations by friday most leaders in attendance are anticipated to give speeches on what we can expect to live in poverty. interesting he brings up the nineteenth party congress because a big thing with trade in china is intellectual property i don't recall open transparent i don't recall that party really dealing with that but that's my own
issue about apec any mention of that from trump not yet but we have seen some other leaders make comments on mix they've already arrived in vietnam for the summit and filipino president take gave us basically a speech on apec or he jumped right into globalization and said that the u.s. was the first victim of globalization call that a victim called us and said i said that explains why trump is now president and then of course he got into some other topics about how globalization has impacted developing economies and for them to really thrive they need greater access to the global markets so we'll see a lot of you know a continuation of that throughout the summit on thursday and friday case of lacking that colorful language you all like to listen to so far. what issues though are we expecting to hear about apec well apec is an annual summit about global trade so we can expect lots of questions and comments about trump america first message since
that has been a pretty big trade disruptor and as of thursday each of the other so there were twelve nations originally involved in the trans-pacific partnership obviously once the u.s. backed out that left the left in and so far the remaining eleven are committed to forging ahead with the trans-pacific partnership deal that doesn't mean there might not be any changes but so far they're making it clear that they don't really care that the u.s. is no longer a part of it and that they're going to continue making deals with each other as the u.s. figures out how how to move ahead alone i guess let me ask you do you think trump going to bad mouth the whole way down the road well i think he's surprised a lot of people so far in china saying that he doesn't blame china for the u.s. agronomy like that the way he doesn't he doesn't blame china and obviously i mean he was trying to say with a friend in the united states i think we should expect to see him the same trump but it toned down version. that's what everybody says we'll see thank you so much
boom. how do we consume media content now as we all know it's digital but let's crunch the numbers according to tech crunch in one month august two thousand and seventeen facebook scored two billion users in that same time span you tube wrapped up a distant one point five billion instagram thanks for having the concept behind this media platform how it how is it different so library is a blog chain based content platform which already scares a lot of people hearing that it's pretty confusing but it's actually really simple and it enables you are anyone else who loves making content to publish it to the internet without being beholden to or a fuel for all of corporate control or interests like you tube or facebook or twitter right through out that they represent today to people who may content so.
as we all know blockhead most of us know anyway block changes digital ledger people and then they sort of i want to say confirm a transaction in this case someone uploads media and they essentially confirm it or as you told me before they can flag it up for bad content maybe you know something like assume it causes those people who have it here for content to be accountable it's actually a worse place for them to publish stuff for me accountability you're right but facebook and it's kind have to play catch up wouldn't the library have to play that sort of catch up with the community sound off and take action in an easier way because no one wants to see people selling missile launchers or isis videos along with a legitimate news cast right i mean that's going to you're going to have some kickback on that gets a response time so the response i think is arguably much faster than it would be on you tube or facebook so close for you tube you are reliant on them someone making a report and then they basically have to play whack
a mole for it and i understand that some people to do it yeah the overhead for combating the problem is really strong in an instance of library it's faster it's community driven and if something is flagged the response will be faster which also includes things that maybe shouldn't be to monetize that are good so you're not beholden to where you doesn't like some of the spaces or you know say space there's no space it's awesome excellent we love that you're going to have. what kind of interesting have you gotten in this because obviously it's kind of going against a tide right now you can google anything in your you tube video pops up or something like that it's something people have to opt in to. a lot of curiosity what are people asking you about this. i think the biggest consideration is people have been used to having this like level of your control and you want to change it to. it's a big buzzword in this instance it has a very practical use it just enables you to be less censored basically it's the further. the trend which is becoming freer allowing information to flow more freely
than it has in the past which is why bruce just another evolution about it's ok you think you're going to blow the industry you have to say that here on t.v. that you think it's really going to it's really going to disrupt do you see other people sort of following suit stealing your ideas i think in that it's really unique right now and maybe not today but in the future it is inevitable that this technology will be the goal for you or anyone else to publish content. it's the lower fraction it's a no brainer way of the future as you say got a quickie or pushing a buick up the hill because you're starting something new you know breaking barriers how tough is this to explain it when people over it seems like it's really just our job to make it as easy as possible because at the end of the day the chain and all that confusing stuff it shouldn't be your responsibility to understand the application should be easy for you and everyone else who wants to use it to use it so the blog is a means to an end it's not the most important thing here is
a valuable feature and of course people get their freedom and their safety all in one and hopefully it opens up discussion great i'm going to keep an eye on that thank you so much riley smith you had a few months of her library thank you. we're going to go to break now but stick around because when we get back sexual harassment may be tax deductible for corporations watching the hog's host tabitha wallace joins me to sound off and we've got competing versions of tax reform on capitol hill we polled the two sides apart figure the problem out as we go to break here the number of the puzzle down. by too many flips over the years so i know the gunman so i got. the ball isn't only
about what happens on the pitch for the final school it's about the passion from the families it's the age of the super money kill you narrowness and spending to get to the twenty million and one player. it's an experience like nothing else going to because i want to share what i think what i know about the beautiful game was great so what will transpire. and thinks it's going to. we all willingly accepted the risk of being shot wounded taken prisoner but noone was signed up to be friggin poisoned by our own people that was nuclear biological and chemical products the said do not truck tires all types of styrofoam polystyrene batteries trucks there was a complete denial i think at all levels of government that there was any connection
between berm pits and what these brave soldiers were suffering from to compensate every soldier marine airman and sailor that was on the ground that are complaining about illnesses from their exposure from the berm pits would really literally send a be a pro and they don't want to pay it so the way to the decades a lot of those soldiers will die in time and they will have to pay and. cultural to get the middle finger the movie is to model is. delayed and i hope you don't. bring politics that's what many are saying after the d.n.c. is acting chair donna brazil claimed bernie sanders was cheated in the primary but the rigging goes further the g.o.p. establishment didn't embrace trump then nor now hold parties at war with themselves .
skyrocketed in value early thursday hitting just shy of eight thousand dollars since it has declined back to around seventy one hundred dollars now it has split two times though this year now the fight is on to prevent it from doing so again and some of the biggest names and big coin in the world have signed on to keep it from splitting by preventing an upgrade that would have increased the network's capacity. and two versions of the tax bill one from the senate one from the house we have both now the fight is on to resolve the differences but can they joining me now conservative t.v. and radio host steve malzberg great to have you on here are the lindsey resident tax expert stand out differences to give you there is some broad overlap but there
are some places where there are some friction well let's start on the corporate side the senate wants to delay the the if limitation of the reduction of the corporate rate from thirty five to twenty for a year it would go into effect january first two thousand and nineteen donald trump doesn't like that although paul ryan yesterday indicated he may be open to that it saves one hundred billion dollars over a over ten years and they need they need to come down because they're a bit over especially in the house there's also the good thing for corporations is that they can still deduct capital investments one hundred percent of mediately in two thousand and eighteen and they believe that is what corporations are looking for even more than the tax deduction so we'll see how that plays out that's the corporate side and then you've got a whole bunch of differences on the individual side where we've got. you know at issue here are mortgage deductions the cell tax donald trump has said from day one
if there is any hand that taxes could go up for the middle class it's a nonstarter how is this conversation going to proceed he's going to get back from asia and he's going to go gangbusters on this thing we both know this well i think what they're what he's going to buy into is what they're telling us and that is that when the corporate tax breaks are going to trickle down if again i hate that term but trickle down to the individuals to families paul ryan already said that because of what they're doing for the corporations each family afford the average family of four will get a benefit four thousand dollars worth and the individual tax breaks the doubling of the standard deductions etc will give the average family of four twelve hundred dollars in tax breaks so i think donald trump is going to buy into that you're going to have in the senate bill just some more differences seven tax brackets as opposed to the three offered by the house and the top bracket in the senate is
thirty eight and a half instead of thirty nine point six and then a six percent penalty on anything over a million dollars so there are so many differences the senate keeps the mortgage deduction at a million dollars it keeps the adoption deduction it keeps the health care deduction this is going to be odd going process within the senate within the house and then they get to come together and reconcile this big i've got to break down this graph we've got we've got just anecdotally here it's insane to me because the republicans have been selling the american people on simplify simplify simplify simplify and then we go from four to seven. is there going to be pushback on that thirty and a half is very high for seven i mean this seems like the status quo and people are going to be angry about that if i miss judging the situation well you get a need a postcard that's about sixteen exhaust the size that is it gets not going to be
a postcard with seven brackets and i don't understand the logic there it seems like very making it more complicated than it is as you said but look again when push comes to shove i think they're going to come to agreement by the way the obamacare individual mandate is not addressed in the in the senate bill or in the house bill and that that would be a savings but they don't think they could get that through the senate with people like susan collins and senator murkowski so they've got to stay away from that otherwise if they lose more than two in the senate they could be done unless a democrat a two are picked off this is the most complicated convoluted process you could imagine and they want to get it done like tomorrow right let's talk about that deadline though they're saying before the holidays before thanksgiving looking at the fine print here you don't even have to look at the fine print let's just look at that the large print you think that can actually get this done. i think they'll
get something done i got to tell you i know there are republicans who are not going to vote for it in the house because of the salt i mean if the senate version he stands the property tax deduction that the house said ok you could keep the state local taxes that goes away you can't deduct anything and the congressman from new york and new jersey will not vote for it although california who will also get hit hard they're willing to vote for it which i don't understand that to be honest with you but yes i think they are going to pass a tax bill whether it be good or bad or ugly i don't know but they will come together and before christmas or on christmas or christmas eve donald trump will sign it ok it's either going to be a postcard of the size of a legal pad what have you sell want always a pleasure conservative t.v. and radio host steve malzberg.
money in exchange for cash settlements with victims of sexual harassment and in some cases sexual assault it's not a new mechanism for corporations to shut up the victims of crimes perpetrated by their top stars and executives did you know the payouts can be tax deductible here to weigh in is co-host of watching the hogs tabitha wallace ok you've got to his on her show this is insanity tax exemption for the pay or a tax it for the payee explained so the first thing that's most disturbing is that corporations can if their c.e.o. or one of their their employees is. with this or it comes up as a. problem out instead of going to court instead of doing all this arbitration they're often payouts and non-disclosure agreements which is fight all everybody's on board with that the thing is those payouts which are essentially for your c.e.o. or your executive or your stars bad behavior are tax deductible as
a standard cost of doing business according to the time it wasn't always that way this law changed it changed there used to be a situation where half a century ago businesses couldn't use tax deductions for anything deemed a violation of public policy but it's technically not illegal to pay someone because of your bad is or not relieved or mitigating a crime right and if you turn it around the worst part is that the victim the person getting the cat payout does have to pay taxes on it and if you go to court and get a payout even if you win a lawsuit you see if the pay taxes the victim pays the taxes on all of it including her legal fees then they make more taxes when the lawyer that's of this gets it as income so they're triple dip on the victim's side. and everybody on the other side just writes it off as a business like i can see taxing the lawyer because it's for service rendered it's for work this person didn't work for it it wasn't necessarily earned income it
wasn't an investment there was no work done they were literally settling for this do you think that stories like this coming out and not only touching women but now in the mainstream touching men who didn't have the courage to come out do you think this is going to get more play that this people will work to change this absolutely because it's not just in the sexual assault or what we what we're learning in the weinstein case and full disclosure i used to work at the weinstein company is that some way inside information on that is that there were a lot of physical assaults of men not sexual but there was a lot of abuse in the workplace and toxic work environments that this is going to start coming up the movement to tackle this problem is big and it's starting to gain ground and i think companies have to be aware that it's going to cost you more in the long run to try to cover this stuff there was actually a professor at wayne state university said there's no surefire way to end sexual harassment assault the workplace but making it cost more to hide this misconduct
can make it less commonplace and i think corporations need to right to look at that something that occurred to me when i read this story was perhaps you know this does incentivize a company to settle with someone because a lot of companies i don't care for it's a car company or a computer company or entertainment they'll keep a stash of cash to worry about lawsuits of any kind in any payouts needed do you think this would incentivize those companies to hand over that cash if then the government essentially pays for it so that's what's given there it's much easier in the long run for a corporation to just write a check and give them a non-disclosure agreement and everybody walks away i mean what you're finding is that ultimately if corporations simply followed basic protocol and procedure and were just better. about sort of nipping the staff in the bud when it starts to be a problem they wouldn't have to have bags of cash we. don't really like in the weinstein situation i think we're going to see more lawsuits and at the end of the
day the weinstein company and people who are related to that could end up paying a lot of money and investors and movie stars onsets production companies and then on wall street we're seeing it there too now and then politicians of court well it's always been there and all of the people are coming out i mean yeah we're seeing do you think that this will turn the tide of you know people saying i'm not going to settle i'm going to take you to court because it's justice because you report one person and then you find a string of thirty years do you think there will be an avoidance of settlements now and said taking two people people to court and grabbing money that way i think it is because now what you're seeing is anger you're seeing and i think the fact that law enforcement and police departments are finally starting to really prosecute or investigate these crimes even ones that happened years before it any point if they involve the workplace especially those looking into them now and if those start to go to court and people get prosecuted corporations are going to want to and at the
end of the day their stockholders stockholders know that you're using money to pay off bad behavior i think you could have a lot of people wondering what profits really look like right if you're paying thirty two million to somebody to cover that but then you know there's a string it's not it's not a want to thank you so much tabitha wasn't co-host of watching. shifting gears if you're a fan of something you don't generally like it when someone tries to make changes to that whether it's your favorite character on t.v. or in this case nutella a consumer protection group noticed a slightly lighter color of the delicious hazelnut spread and that the amount of milk powder had been increased because cocoa was now lower on the list of ingredients they they concluded then that. a company had to have cut back the amount of cocoa in the spread in order to add more milk powder it's an honest adoption there this isn't the only time can you lovers have felt betrayed by the
brands they love just last year toblerone fans had their own scandal when they found out that the distance between each chocolatey triangle had increased seemingly overnight way to cut costs very smart thanks for watching be sure to catch big boss on directv in the united states you can find us on the r. t. channel three two one and if you miss us on directv catch boom bust on youtube youtube dot com slash who must thanks for watching the next time. prescribe medication is widespread on the us market and
a frequent cause of death at that point in my life i just felt like everything was ashes my family was literally coming unglued i had actually planned. to commit suicide watch all who has made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and what the real side effects . was is charlie alter what i did was done on a cocktail of legal drugs. just because something sleazy doesn't mean it's something. even. as i live it here feels confident.
breaking news the u.s. air force claims a missile that was launched that saudi arabia from yemen on saturday was made that despite iran's denials that it supplied any such oddworld to rebels in the. wiki leaks founder julian assange says that u.k. prosecutors have admitted deleting e-mail exchanges concerning his case. german police or forty's investigate allegations that mansfield gangs have infiltrated its ranks and other state services. very good evening to you my name's the harvey this is art.