tv Boom Bust RT April 3, 2018 11:30pm-12:00am EDT
i. this is going bust broadcasting around the world from washington d.c. i'm partial to coming up today our correspondent ben cohen tells us about the teachers' strike in the u.s. and oklahoma and talkie and the energetic and always insightful well listen our mole of the stock swooshes back and we'll talk tech stocks as they continue their volatile ride and reaction to some of president trump's tweets and with regard to amazon his words today plus r.t. correspondent ashley banks tells us about one of the most important ingredients in our cell phones and electric cars and why there's a clamor for that come oddities to jam packed show so let's go first we had some. mick mulvaney the acting head of the u.s.
consumer financial protection bureau is asking congress to weaken the c.f.p. bees powers to protect consumers mr mulvaney who is also serving as the director of the office of management and budget once congress to remove c f p b's independence by subjecting the agency to annual congressional funding and the ability for congress to over term c f p b decisions and finally to place the agency under more direct control by the president see if p.p. is independent funding through the federal reserve was intended to protect it and therefore consumers from political influence making it depended upon congress could enable punishments against see if the by congress for applying the law mr mulvaney is likely to be questions on this and his proposals when he testifies before the house financial services committee later this month. and wal-mart is partnering with money gram international to upgrade its international. money transfer business
wal-mart says customers will now be able to go to any of the forty seven hundred locations in the u.s. to send money to about two hundred different countries within ten minutes you can send the money fees for a transfer will start at four dollars to send up to fifty dollars and for a top fee of sixteen dollars customers can send up to twenty five hundred dollars wal-mart's new service is an upgrade of the domestic money transfer option they've been offering for about four years. and wall street's main indexes saw some volatile trading for much of tuesday supported by gains in the financial sector stocks but technology stocks have come under increased and continued pressure that's particularly true with regard to amazon stock of president trump is started a public war with amazon c.e.o. jeff bezos who is also the owner of the washington post which president trump has criticized over the paper's coverage of him and his administration the president has tweeted and today spoke about how he believes amazon is taking advantage of the
u.s. postal service amazon is going to have to pay much more money to the post office there's no doubt about that said mr trump here to talk about amazon tech stocks and a few other things thrown in for good measure is the admirable and accomplished our most founder of the stock's wish melissa thank you again for being with us as always so the president tweeted about amazon for what seems like one hundred times saying i've stated that my concerns with amazon long before the election unlike others they pay little or no taxes to state and local governments use our postal system as a delivery boy causing tremendous loss to the us and are putting many thousands of retailers out of business in reaction you know amazon stock took a dive from the march highs and while still up something like fifteen or sixteen percent this year they started to tank dipping under fourteen hundred today what's your thought about this melissa is this real is this a needed war with amazon what's going on. well good to see your bar i don't know
whether or not it's necessary or needed however it is real the stock is falling and in fact this is the worst that amazon has ever looked to me technically looking at the chart but the stuff has had the most tremendous run up of any stock i have ever ever seen stocks usually do not go consistently straight up and that really is what amazon has done and this is brewing before the election so it's coming and it's coming and i think it has a long way to fall and yes when the president tweets about it it has affected the stock but people are up people are have been long amazon and they're taking profits and i don't think it stops even though we kind of rallied a little bit in the close today we did break we got down a few days ago and i think this stock could absolutely fall off the planet any time soon you know what it was sort of strange when i was a regulator i sort of had as a montra don't say anything to move markets positively or negatively but this
president doesn't seem to give too wits about that he goes out and says something and in fact you know there are many out there who contend he did this intentionally because of his sort of war of words with jeff bezos because of the washington post when you look at the substance of what the president says and i listen to him today and he blamed amazon for everything from killing the postal service to killing main street usa retailers does he have a point at all is there something that the president saying that really does make sense with regard to amazon taking advantage of things well as far as the retailers go i mean we live in a capitalistic society it's you know the people that do well and promote their businesses make money so i he has a point but i don't think we should necessarily protect or go against certain retailers they found in there they capitalized on and that's what the usa is all about and yes it has affected other countries but this is business and they're getting a lot of business. as far as the post office goes though he does have
a point to that because they have a deal i don't know what the deal is it's a closed deal it's a private deal whatever deal they're getting they're getting a good one so it is cheaper for amazon to use the postal service because they're getting a good deal in that sense the president does have a point is he going to be doing about it i don't know but the post office really has taken a beating lately have a lot of expenses and not that many people use the u.s. mail anymore i can't even tell you the last time i bought a stamp i went to the post office today and they were very friendly and very nice but it's been a while before that just happened to be today you know and i do i mean the post office had problems for years and years and it would be nice to see that contract i'm wondering you know i wonder if amazon could go to fedex or u.p.s. or even d.h.l. who's starting back in the u.s. . let's get on to some other stocks what about tesla they've had a rough go of it in the last week or so what's happening with them i don't like the
way the stock looks in the downtrend currently it's unfortunate because the mosque is very inventive very creative however they haven't met some of the results and getting some of these cars out and so the stock again has got down and with everything else it's been falling in the last few weeks but the stock is down a downtrend could they turn around sure of course they could but right now tesla it's not a buy and it's unfortunate and really hasn't been a buy for a little bit for really this whole year two thousand and thirteen that stock hasn't looked like a buy even when we started out the year and the rest of the market was doing good tests it wasn't doing that great and so it looks worse than a lot of other things right now but i guess that's what happens when you have somebody dies and one of your autonomous vehicles and i don't care about horrible story and then you have all those hundred twenty three thousand recalls of the last model now let me ask you about a couple others spotify went public today on the new york stock exchange they were trading as high as one sixty five ninety and went down to a one one fifty was this
a pretty good opening for them. i think it was really interesting because they quoted that the stock was going to open between one sixteen to twenty which i thought was a huge wide range i mean just a huge wide sixty dollars range for was going to open it did end up opening around one sixty five ish had a quick pop and it's dropped ever since and it actually broke one fifty on the workload stat of four but it broke one fifty today and it's probably lower even still this was one of these things again it was a direct issue so it was one of these things where was probably going to drop today the first day anyways because people wanted to sell it it was a new interesting thing but i think the stock is lower what's up around what turnaround sure eventually but it could be lower for the next few months i would not buy that stock right now you know spotify really could make it going to try to make it but i don't think it turns around immediately so do you know where the darling last year they've been doing ok this year even with with the tweets do you think there's some correction coming into lissa. i think it's very interesting
because some of these stocks are different than other ones for example and netflix still looks great despite the sell off and netflix in the last few days that is holding support nicely now is one of the most strongest stocks out there and i've said that on here before and right now that looks even better than amazon which looks a little bit beat up and i still think is lower now folks are really like i wouldn't buy it right now but i like that as far as the rest of the group facebook is in a down trend right now and that's going to have a really tough week next week mark zuckerberg testifies before congress in april to expect that stock to trade lower i don't think that stock is going to turn around you can just take facebook out of the bucket because if you look at amazon you look at apple you look at that flex facebook is going to look different google even looks better than facebook right now i think all of these stocks are in for you can call it a correction if you want to hate using that word but you can say it if you want they're all going to come in but facebook is a problem for the rest of two thousand and eighteen even though all these other stocks could drop a little bit and pick themselves back up i don't like what facebook has to offer for the rest of two thousand and eighteen i think they got themselves into
a pickle now pickles probably a kind word my grandmother might have used that melissa the always insightful and interesting melissa are most of the founder of the stocks which thank you for joining us melissa thanks for having me. and it's time now per quick break but hang here because when we return our key correspondent jackie banks tell us about the clamor for a key commodity cobalt which is an interval ingredient in our cell phones in electric cars and as we go to break through all the numbers at the closing bell stocks overall are back in the black back in black today right that. will go up twenty eighteen coverage we've signed one of the greatest goalkeepers of all john but there was one little question. by the way he's going to be our coach.
guys i know you are nervous he's a huge star among us and the huge amount of pressure to come out you have to go i mean eighty percent of the poll with you and you will solo a great game the great game you are the rock at the back nobody gets busted you we need you to get down there we have to go. a low as i want to you know and i'm really happy to join the team for the two thousand and thirteen world cup in russia meet the special one i was also please share me to just say the radio theology team's latest edition of make up is bigger so i need to just say look. join me every thursday on the alex simon show and i'll be speaking to guest in the world of politics sports business i'm show business i'll see you then.
google has announced that it will start removing browser extensions from cryptocurrency mining from its chrome store starting in july the tech magazine wired reported that google made this choice after submitted extensions failed to comply with google's policy that all mining extensions must be solely for that purpose and inform users of that purpose google's attempting to protect users from an insidious practice we've covered here on the program previously it's called crypto jacking which is when a computer is infected with crypto mining software without the user's consent or even knowledge many times in order to use the victim's computer to mine for crypto
currencies all of a sudden your battery will dig be dead it is recently created problems at tesla and even in the operating system of a european water utility a month ago google banned ads related to cryptocurrency is on the site. and now on to a key commodity that helps power cell phones or even electric cars cobol archaea our correspondent ashley banks has more issue yes part so there is a global shortage of coal bolt which is an essential ingredient and gadgets we use every day now that the shortage is in place for the very first time out the incorporated isn't taunts to buy a long term supplies of cobalt directly from miners apple's one of the largest the world's the largest users of coal both using the mineral for the batteries and its electronics usually the tag giant relies on metal companies to retrieve the mineral
however now it wants to go straight to the source according to reports apple has been in talks with mining companies for more than a year hoping to guarantee a steady supply of purchasing thousands of metric tons of coal gold annually over the next five years this would benefit apple greatly as it would secure a definite supply of coal gold so that apple could continue having the batteries it needs for its technology and apple would be able to negotiate for better prices due to the large amount of coal bolt it would be purchasing however if apple falls through with this move it could face plenty of backlash right now the tech giant is under a lot of scrutiny although it's not clear which mines apple is in talks with according to reports most of its kobold is source from the democratic republic of congo which also serves as more than half of the world's supply human rights campaigners say
this move could present serious ethical challenges according to amnesty international children as young as seven were discovered or working in coal mines in the d.r. c. and they were being subjected to beatings and extortion by security guards. exploited by traders and a twenty six thousand report says quote despite the potentially fatal health effects of prolonged exposure to cobalt adult and child miners the work without even the most basic protective equipment although apple is in talks of kobold minds many speculate the deal could fall through part thank you so much ashley great reporting r.t. correspondent ashley banks thank you and china which yesterday and froze the initial three billion dollars of retell atory tariffs on u.s. fruit pork and steel pipes following the trumpet ministrations imposition of steel and aluminum tariffs says they will continue to match with the same measure and intensity any additional u.s.
tariffs that's according to the chinese ambassador to united states and the trump administration says they intend to impose an additional fifty billion in tariffs on chinese goods coming into the u.s. the u.s. administration does not determine which specific chinese products will be targeted with the tariffs it is planning to consider public comments for a period of we putting puttings gus tariffs and china and more is chris blazin he's the president of neptune global holdings chris thanks for joining us we are in the midst of an all out trade war it seems and the president says it will be easy to win from many observers however it surely doesn't seem like an easy win and the markets sure seem to be reacting negatively but that doesn't mean it's always right what your take chris and thanks for being here. thanks bart great to be on your show so i know there are some people using the term trade war right now i don't think we're quite to that level yet but things are definitely heating up i mean this was a key plank on this administration were present at trump when he was campaigning
and now we actually have someone who's pushing back hard i mean his feeling is been that this company this our country is engaged in a number of agreements such as nafta and some of the bilateral agreements with companies countries like south korea that have not been beneficial to us and he's asking for a rebalancing and you know right now it things are heating up mostly with china and i think there's a couple other reasons beyond just trying to rebalance the level of trade between us and china that are the drivers for this all this rhetoric and what's heating up right well chris but both china and the president said that the retaliation will be reciprocal take a listen to what the president had to say on this the word is reciprocal that's the word i want everyone to remember we want we sip ricco mirror some people call it a mirror tariff or a tax just use the word receptor because if they charge us we
charge them the same thing. so chris you know we did that three billion essentially steel and aluminum tariffs they did their three billion in kind but the president said there's another fifty billion to come do you think we should expect another fifty billion or forty seven billion from the chinese i think we're going to be expecting something i think we know. the president generally works and reacts in a situation like this and i would expect something he's also he's talking about a reciprocal resupply cold relationship not just in trade but investment and this goes to a much bigger story as kind of where china is going and where they want to take their economy and some of the industries that they want to be the leader in and a big issue that the president has also had is in the theft of our i pay. and also the buying of a lot of our technology companies which are transferring the ip of the most robust
products in industries from us to them so it's more it's there's a lot more than just tariffs and finished goods but there's a much bigger story and i think this much more strategic than meets the eye right the intellectual property for national security is an important thing we only got a couple of minutes here but can you tell us more about you know china twenty twenty five chris and how you think this is maybe part of a larger strategy for the chinese government. you know that's that's a big driver in my opinion if you look at nafta you know with mexico and canada that's really more just hey are they using enough u.s. products you know in the finished goods and that's really kind of just the balance of trade with china it's much more than that i mean there is ten industries that have been identified as the most critical important industries of the future and right now china's plan so it's a bold plan and it's out on the table is that they want to be the leaders in those
ten industries and these are things like artificial intelligence. it's biomedical quantum computing and it's not just that china wants to kind of join the global community as being part of the supply chain which you know the advanced economies like germany japan and south korea are part of but china has stated that they want to plan of self-sufficiency and basically to own the stack you know in the production of high quality highly critical technologically advanced products and that is a threat that's a real threat to us because that's kind of our strong spot or a sweet spot and i think that why the focus is more on china with these tariffs at this point because of the strategic direction china is going in then really would nafta i think are the nafta countries chris that would thank you for being here we want to have you back again i know you're an expert on precious metals and there's a lot going on with that so what will hopefully you'll come back and join us again
chris blazin president of neptune global holdings thanks for being with us chris thank you bart. and french workers are increasing their activity in response to president mccrone plans to cut jobs and reduced curity and benefits on monday for national railway unions escalated their actions with stoppages that they say will occur for two of every five days from now until june this builds on the momentum of a one day work stoppage by rail and public sector workers the state rail company ass and c f says only about one of eight high speed trains were running on monday and that it may cost as much as twenty million euros for every day of the stoppage transportation minister elizabeth bourne took a hard line in response to the strike saying the government will stand firm present mccrone new political party has a strong parliamentary majority which may enable the president to push his overall
agenda dealing with pay and pensions through over massive resistance while have more on the french rail strike in the coming days. and in the us the upsurge of labor activism one teachers is spreading following the recent example of west virginia teachers in kentucky oklahoma and potentially arizona are organizing against pension cuts and weak education budgets on monday oklahoma teachers initiated a walkout and today their strike ended a second day twenty thousand teachers and supporters rallied at the state capital in oklahoma city to support demands for three billion dollars in new education spending and rejected the government governors offer of less than five hundred million or oklahoma currently ranks forty ninth in teacher salaries and forty seventh in spending per student according to the national education association in kentucky teachers also went on strike monday and thousands rallied in frankfort kentucky to demand more education funding and rejection of pension cuts approved by
legislators there and arizona teachers rallied in phoenix. depressed demands for a twenty percent raise the week after a massive rally last week arizona teacher pay ranks fifty the last among the states for elementary school and forty ninth for high school and here to discuss more is dan cohen our to correspondent dan cohen who's been following this for r.t. america then we saw what happened in west virginia now we've got oklahoma and kentucky and maybe arizona what's going on bring us up to date well this follows the success of a nine day wildcat strike in west virginia a wildcat strike being when the unionized teachers strike without the permission from the union leadership and that was successful in bringing a five percent raise in you know traditionally conservative red red state where you wouldn't expect labor unions to be particularly strong and so we see that model
being applied in kentucky in oklahoma as tens of thousands of teachers are taking to the streets and picket lines in order to demand better pay more funding for students and having they've had their pensions slashed and so it's you know it's a really interesting response to. you know what's been happening for really decades in this country in oklahoma the salary average salary for a teacher is forty five thousand dollars that's thirteen thousand dollars below the national average and that's just an unliveable amount of money kentucky isn't much better at fifty two thousand dollars and we talked about arizona but it is arizona potentially next and are there are other state teachers organizations maybe not sanctioned by the state teachers' organization but on the horizon that may strike also damn well hundreds of people gathered in arizona yesterday to demand better pay in new jersey recently there was
a strike and that has has not been resolved in alaska in anchorage teachers were demanding. three percent raise and they didn't get it but it ministrations got a ten percent raise so that's on resolved in in. chicago there have been massive closers of public schools and lack of funding which has led basically the obama administration and the trumpet ministration has created charter schools and privatization campaign and that's one of the things that's really led to this to two these strikes but let me ask you if you look at the u.s. teachers' pay compared with global folks we may have a chart or may not but how do we compare that with other nations around the world well if you look at wealthy countries in western europe luxembourg teachers make one hundred thirty seven thousand dollars in salary in switzerland and make ninety two thousand dollars in germany and korea makes seventy five thousand dollars but
we're the wealthiest country in the world and simply we're not paying our teachers and there's been a long bipartisan effort to demonize teachers unions from the bush administration through the obama administration and to push money into the pockets of charter schools which are exempt from regulation and i think we're really seeing the fruits of that effort right now already correspondent ben cohen thank you for being here dan appreciate your update next. and. and c.v.s. health has announced that they will no longer shape shift body parts in their advertisements in an attempt to sell more pharmacy products most of us realize that photos are in advertisements are often if not always retouched but i never knew that body parts like head shapes being altered for things like high cheekbones was
happening did you that seems nuts but it also seems that many advertise which if they bowled in a statement c.v.s. spokesperson said the connection between the propagation of unrealistic body images and negative health effects especially in girls and young women has been established as a purpose led company we strive to do our best to assure all of our message with all of our customers is reflects our purpose and helping people on their plan to better health c.v.s. says that it's part of their plan to radically be more transparent when it comes to beauty marking images from other brands sold at c.v.s. which have not been digitally altered will have a c.v.s. a beauty mark somewhere on the image those that have been altered will not carry the beauty mark mark c.b.s. will classify altered images as those that have not changed enhanced a person's shape size proportions skin or eye color wrinkles or any other individual istic characteristic the program to implement the new transparency has
already started and is expected to be fully implemented by twenty twenty years looking at u.c. vs. that's all for this time thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust artie we'll catch you next time. prison industry is the only industry that really routinely and this is
a labor of returns on the day. to keep goldman sachs and j.p. morgan from having a clear insolvency because technically that's all they are but they keep rolling gotta build prisons because it's a guaranteed income there's a security seldom show nice america's an apartheid state driven by wall street financier's and the jay gould's of the twenty first century.
least of three people are into. in a shooting at the headquarters of you tube in california police say that the female shooter has taken her own life. for the scientists say that they are unable to pinpoint the source of the nerve agent used in the poisoning of a russian double agent and his daughter. clashes erupt in the paris as rail workers launch a nationwide strike against president drive to overhaul the state funded transport industry. over the latest on the stories you can head to our t.v. dot com stay with us now for the kaiser report looking into the face book data mining scamp.