tv MSNBC Live With Ali Velshi MSNBC April 30, 2018 12:00pm-1:00pm PDT
happens at the border in the coming days. that will wrap things up for this hour. now ali velshi will pick things up right now. good afternoon. i'm ali velshi. president trump is posturing as he continues to make moves with regard to foreign policy. he was side-by-side with nigeria's president. this was the first from an african leader. the statement he made calling countries in africa s-holes. >> i'm not sure about, you know, the validity or whether that allegation against the president was true or not. so the best thing for me is to keep quiet. >> we didn't discuss it and you do have some countries that are in very bad shape and very tough
places to live in. but we didn't discuss it because the president knows me and he knows where i'm coming from. >> sounded like a bit of a justification in case that word were use. north korea, president trump told reporters today he's looking into various countries including singapore and the demilitarized zone to meet with north koreae north korea's kim jong-un. and the caravan filled with hundreds of migrants seeking asylum is stuck outside the border. u.s. immigration says the port of entry is full. on the other side of the border vice president mike pence was in california said he was grateful to the efforts that the caravan was dealt with in a manner consistent with the law. joining me now with the latest from the white house is nbc news jeff. let's start with this caravan. hundreds of women and children sitting on the mexican side of
the border. the president and vice president maintaining a strong law and order stance suggesting these people may not make it across. >> that's right. a moment ago the president said nothing about the human toll involved when asked about it as this caravan of mostly women and children fleeing threats of persecution in their home countries. instead he railed against what he calls a weak and broken immigration system that is in effect drawing migrants to our borders. take a look. >> we are a nation of laws. we have to have borders. we don't have borders we don't have a country. i've been watching for weeks as the caravan came up. you know the mexican laws are very tough on immigration. extremely tough. and it started out with way over 1,000 people. i guess now it's down to about 100 going all through mexico. people don't realize what a big country mexico is. it came down by a lot. and now we're working on the border with the worse laws any
country, no matter where you go all over the world, they can't believe it. and we're doing the best we can with it. >> reporter: so this fits a theme because over the weekend the president actually made news. he threatened to shut down the government in the fall if the next government funding measure doesn't include the border wall money he wants and his comments are a road map of what we'll see from the president heading towards the mid-term elections. i'm told the president views immigration as a political winner. so it appears he's going all in on fear based politics to drive the republican vote. that's one thing. on north korea the big takeaway was the president made clear singapore as we reported appears to be the site of choice among white house officials for this potential summit with kim, even though the president wants the talks to happen on the korean dmz. he said if things work out there's a great celebration to be had. his advisers point out it could be seen as too much of a
consuggestion and what happens if the talks go south. they are concerned about the optics of the president leaving the peninsula hat in hand. >> stormy daniels is suing the president again. what's this about? >> reporter: she filed a defamation lawsuit against the president because remember earlier this month, clifford worked with a forensic artist to create a sketch that she said accosted her in a las vegas parking lot. the president sent out a sweet. a sketch years later about a non-existent man. the president's comments amount to an allegation that damages fabricated a threat. this is actually the second lawsuit that clifford has filed against the president. earlier this year she sudden him and his personal attorney michael cohen to get out of that confidentiality agreement she says she signed days before the
election in exchange for that $130,000 in hush money. the white house we should say has said clifford's allegations are entirely false. >> stephanie clifford is stormy daniels legal name. >> that caravan that includes families with young children remain stuck mere feet from freedom. this is a live look at the reality for some who are trying to legally come to the united states. this caravan of central american migrants began their journey three weeks ago. they traveled from the guatem a guatemalan border to tijuana. this journey has been far from easy. they told us there were days they went without food or water. got sick. faced rough water. did all this in order to claim asylum from their host countries. right now they are stuck because u.s. border patrol agents say they've reached capacity at that port of entry.
i spoke you earlier. any update how these families are holding up? it's unusually cold down there. >> reporter: it is. been in the 50s and 40s overnight and many folks are tire after that four week journey, 3,000 mile journey to get here. there's about 150 migrants who are waiting to apply for asylum here at the u.s.-mexico border. 50 or so actually at the gates. vast majority are here outside of the gates, of port of entry waiting to seek asylum. this is the scene here over and over again. family after family literally sleeping on the ground trying to stay warm. there's been some light rain so they put these tarps up. many families are waiting for their moment to seek asylum. they began this journey four to five weeks ago in various countries. they all say they are trying to seek asylum because they are concerned about violence, most likely gang violence.
folks that made it here are now waiting for their time to surrender to the border patrol. surrendering to the border patrol hasn't been easy. over the weekend many people arrived here and got to the gates of the borer patrol and say they too wanted to present themselves to the border patrol but the border patrol says they've not been able to take those 50 in. that leaves about 100 folks out here in a community like this, also waiting for their chance to get into the doors to apply for asylum to say they have fear of death which starts the asylum process. many families are getting some support from local charities. bringing them food. this is what we've seen over and over. small children like this young boy here with their mother. many of these kids haven't been home in weeks. very little other than the clothes on their back. they say they need asylum. seeking refuge in the u.s. the question is will they get it? >> i want to take a look at what
is most likely going to happen to the migrants. first of all, according to u.s. citizenship officials to qualify for asylum, applicants must prove they were persecuted or father persecution based on their race, nationality or membership in a political group. san diego union tribune says the way it works is this. migrants speak to security guards to make sure they have the proper paper work. they will be held in temporary cells where border protection officers are required to ask them if they are afraid to go home. if they say border u.s. notify i.c.e. officials who send the migrants to a detention facility while they wait for a credible fear interview. "new york times" report families will be split up. mothers and children possibly being bussed to centers as far away as texas. men can be held anywhere in the united states that holds
undocumented immigrants. the migrants would continue the screening process in these facilities over the next several days and at some point they would be fingerprinted, have their pictures taken. if they pass the credible fear interview the asylum seekers are allowed to make their case before an immigration judge. that process can take several months or longer. migrants can be asked to be released from detention. if granted they will be paying a bond or fitted with an ankle monitor. last year a syracuse university study found judges denied asylum to almost 62% of applicants. this is the fifth year in a row that the rate of denials rose. it's harder for central americans to be granted asylum. three countries with the largest number of applicants, el salvador, honduras and guatemala have rates between 79% and 73%.
the president admonished the caravan of asylum seekers. >> are you watching that mess that's going on right now with the caravan coming up? are you watching this? our laws are so weak. >> remarkable referring to potential refugees as that mess. nbc news is out with new reporting on what the trump administration is planning to do about the caravan. nbc's national security and justice reporter joins me now with the latest. from everything you've hear it sounds like they are planning to let them stay, there sleep in the cold. it's cold. miguel showed these little kids with jackets and blankets. this is an issue. >> reporter: it seems these children that miguel showed us, why they are there is very intentional. i spoke to people who used to work in the obama administration, the former head of the asylum agency. he said u.s. intelligence knows when people are coming to the
border. we know this caravan has been coming for a long time. it's not like they were caught by surprise. so this bottleneck is actually intentional. they did not build secondary shelters like they did in 2014 and 2016 and that's intentional. they want to make them wait. it's a deterrent. they want to show these people it's not easy to get into the united states. even if that means children sleeping on sidewalks. they also may be sending some asylum officers but we don't believe it's in the same numbers in the past. some lawyers say even if they are sending more officer it's a matter of numbers. they can get into the u.s. side of the border to make those claims. that would start that process that you outlined. this is really all part of a very strategic move by the administration to make these people suffer and to make the american public look at this and see the numbers, for people who are hard-liners on immigration who think that our borders are being overrun they want to see
the pictures of those people on the fence, to try to push a political message that we have to be tougher. >> on a separate but related note, nbc news has confirmed that the i.c.e. deputy director is stepping down. what do we know about this. >> reporter: that's the acting director. he's been in the acting position through this administration unable to get a hearing to be confirmed. people i spoke to said that they think that's because he's always been so tough on immigration, that it would be very unlikely to get enough votes to get him through. but in this case it seems that he says he's reached the end of his career, thankful for his time there. but it could be that he never thought he could get confirmed and it was just too long for him to be in that acting role. did it come as a surprise to many people. we'll get a more formal announcement on that later this afternoon and plenty of questions to ask. >> thanks for your reporting on this. as president trump decides whether to pull the united
states out of the iran nuclear deal and reimpose sanctions lifted by the agreement, israeli prime minister benjamin netanyahu is accusing iran about lying about its nuclear program. he showed off tens of thousands of documents and cds which he says showed iran continued to preserve and expand its nuclear weapons knowledge after signing the agreement in 2015. he encouraged president trump to walk away from the deal. >> i'm sure he'll do the right thing. the right thing for the united states, the right thing for israel. and the right thing for the peace of the world. >> now in the last hour president trump had this to say about the israeli leader's comments. >> that is just not an acceptable situation. i've been saying that it's been happening. they are not sitting being idly. setting off missiles which they say are for television purpose. i don't think so. we'll see what happens. i'm not telling you what i'm
doing but a lot of people think they know. on or before the 12th we'll make a decision. >> the 12th is the day the president has until to certify or decertify. this comes after prench president emmanuel macron and houssani agreed to preserve the deal. israel has been against this deal since the beginning. this is central to prime minister netanyahu's re-election. emmanuel macron and houssani going to keep the deal. president trump won't. now netanyahu involved. >> reporter: it's so transparent. you're right to point out that this european alliance if you like of the german chancellor
angela merkel, macron of france, the prime minister here in uk are trying to keep the iran deal on track. meanwhile the israeli prime minister benjamin netanyahu doesn't want it to stay on track. he wants president trump to rip it up and, really, what benjamin netanyahu is doing was playing to an audience of one, president trump in the white house. he talked about 100,000 files containing blueprints, charts, videos and presentation dealing with nuclear weaponry. a few hours after he made the announcement it's difficult for us to assess exactly the importance or authenticity of those files. here's what benjamin netanyahu had to say. >> we've known for years that iran had a secret nuclear weapons program called project ahmad. we can now prove that project amad was a comprehensive program
to design, build and test nuclear weapons. we can also prove that iran is secretly storing project amad material to use at a time of its choice to develop nuclear weapons. >> reporter: our own andrea mitchell in a note here at nbc news today just pointing out a note of caution, pointing out the international atomic energy authority confirmed iran's compliance with the nuclear deal 11 times since 2016. that's not to say, of course, iran might not be reneging on the deal, doing things secretly that the west doesn't know about. but it's per, of course,ly possible. there you have really more smoke than fire. very difficult for outsiders looking on to figure out exactly who has -- who is in the right here except to say this. of course there is this politics in the debate, ali, and that's
about whether iran, how iran would react to the ripping up of this interior deal, whether in fact if you like it it would go full force back to the nuclear program or there's something to say about this deal having a mitigating effect on iran's ambitions. >> iran suggested there's no re-negotiating of this deal. thanks very much. president trump and prime minister netanyahu have called the iran deal a terrible agreement. president says iran violated the letter and spirit of the deal. for facts sake is that true? for starters here's what's in the dealing and not. the 2015 agreement between iran and six world powers including the united states does not eliminate iran's controversial nuclear program. let me explain. iran agreed to eliminate 98% of its enriched stockpile of uranium. nearly 300 kilograms. iranians had agreed to hand over 14,000 centrifuges for
destruction out of a total of 20,000. used to enrich uranium. under the deal iran can keep on enrifrpg uranium on enriching uranium but only up to 3.5%. much less than the 90% enrichment needed to produce nuclear weapons. under the deal this is what they can do. 3.5%. you have to have 90% enrichment to get a nuclear weapons. iranian complied with these key elements because they agreed to inspections by the iaea. they inspected 11 times since the signing of that deal. even the trump administration concedes this point. but because the provisions expire in a few years, some in seven, some ten, some 15, president trump says iran can sprint towards rapid nuclear weapons break out in the future. maybe. except iran is permanently
banned from acquiring nuclear weapons under the deal and that's enforced with inspections. president trump claims the iranians were paid up to $150 billion to sign on the deal including $1.7 billion paid by the u.s. in cash. the amounts are in dispute. the president is talking about frozen iranian assets that were held in foreign banks that were released as part of the deal. by all accounts that money belonged to iran. coming up deputy attorney general rod rosenstein ordered and overhaul of guidelines deleting language about press freedom and rashcial gerrymandering. we'll have details on that on the other side of the break. you're watching msnbc. since my stroke, he hasn't left my side.
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so changes are coming to an important manual that you likely never heard of. u.s. attorney's manual. includes practical guidance for prosecutors. a government thing. as well as policy directives. the embattled attorney general rod rosenstein ordered the comprehensive review to update the manual for the first time since the late '90s. the latest overhaul reportedly doesn't include sections on press freedom and racial gerry mannering. for what this means i'm joined by pete williams who has made this clear and understandable for me. i'll ask him to do it again. >> reporter: the u.s. attorney's manual is something most people
consult online in the u.s. attorney's office. if you're a nerd like me and ever printed it out this is what it ends up being. guidance on everything from conducting criminal trials to filing civil fines. enormous thing. the goal of this, the justice department says, was to get rid of excess language that was merely stating general principles. one of the ones they did away with says likewise, the need for a free press careful weight must be given in each case to the constitutional riefrmts to a free press and public trials as well as the right of people in a constitutional democracy to have access to information. what the justice department says about this one is that it was merely stating sort of broad general things that are already in the constitution and they were trying to slim this one down so that's out. the one on racial gerrymandering they said talked about the department intervening in cases following a supreme court decision of about 20 years ago about redrawing congressional
boundaries and under the voting rights act and they said the government hasn't undertaken that specific kind of legislative action for a couple of decades and saw no reason to include that one. you're right whenever you remove something from a document that talks about the need for free press and public trial, you're going to raise some eyebrows. doesn't seem there's any harm leaving it in. but because it didn't say anything he in saw no harm taking it out. >> pete, thanks very much. coming up next arizona teachers among the most underpaid in the country are the latest to join what's a ground swell of teachers demanding raises an increase in radiati educational funding. what sets them apart from others. after the break i'll be joined by a teacher from phoenix,
closed in arizona today which means about 800,000 students are not in class because teachers are walking out into the arizona heat for a third day to press lawmakers for better salaries and better school funding for their students. lawmakers and the state's governor said they reached a deal. so far an actual bill hasn't been released. we've seen these kinds of statewide teacher protests in red states but what makes arizona's situation so dire? to start with let's start with the salaries. according to the national center for education, the average salary for a teacher in arizona in 2017 was $47,403. jose baez ranks 44th. starting salaries for teachers is much lower. then amount of spending per pupil. last year's census data was available on education spending. we have it for 2015. most recent year we have. found that arizona spent about
$7 per student. what was the national average? more than $11 per student. state also has a problem with teacher shortages. according to "new york times" many districts face teacher shortage in math, science. staff members are moving to deeper pocketed states to earn up to $20,000 more per year or to work in better funded classrooms. what are these teachers asking for? a 20% raise for teachers. permanent simple ray and annual raise. competitive pay for support staff. restoration of education funding to levels that were there in 2008. been cut by a billion dollars since then. no new tax cuts unless per pupil spending reaches the national average. what's republican governor's response? he tweeted with this plan. he's proposing a 20% raise for
teacher by 2020. he's proposing $100 million in additional assistance available for classroom funding and no new tax. sounds like a what of what the teachers are asking for. let's get down to the issue. joining me from the rally in phoenix on your left is randy winegarden. with us is zoe hyde a fifth grade teacher in a school located 12 miles from the state capital. randy go to see you. zoe, i need to focus in on you. i need to understand what the link is between teacher salaries and low amount of money that arizona spend per pupil. i talked to so many teachers who say to make it work they have to take it out of their own salaries. are you one of those teachers? >> definitely. being a first year teacher i had to build a classroom from the bottom up. i had to get an entire library.
i walked into a classroom with tables, four tables. i had to get seating. i had to get extra materials. markers. crayons. pens, pencils, tissues. i had to buy myself. >> zoe, you're a first year teacher. you don't earn $47,300. >> i don't. about 31. >> 31,000 and you spend out of your own money for thing that most us think should be in a school and the education system should provide. randy i need to ask you this. who does it pay? why do states do this? why do states decide to lower funding for public education? who thinks that this is good for us in 15 or 20 years when these kids are graduating competing with everyone in the world for places in colleges and universities or jobs? >> so, ali, you know, you've been following this in west
virginia, oklahoma, now in arizona with teachers who are telling you their stories. what has happened since the last recession is that states predominantly republican governors had made a decision to do tax cuts mostly for corporations and the wealthy, and do them at the expense of public education. frankly, you know, teachers always try to do more with less, and they've gotten very exploited because they, you know, they tried to do everything they can to make a difference in the lives of kids. and this year it just got too much because what's happening is with the high cost of health care, teacher salaries are actually going down, and in arizona what's happening is that we don't know whether or not this teacher raise, which
everybody is very appreciative of, you know, it shouldn't have taken 50,000 teachers on the street to get it but everybody is appreciative of it. but is that raise going to mean that kids are going to get less funding? and that's what we're very concerned about. we need to actually have funding for text books, curriculum, for schools that are broken down. and it would be good if zoe actually spent $300 or $400 instead of $1,000 or $2,000. that's the kind of thing that teachers need. that's why we're still out here because the governor is not talking to any of us. he's just tweeting. >> this is an important point. out of your $31,000 pretax money you spent $2,000 on school supplies. this is why i think teachers are asking for a list of things because you got a number of students in your class, for instance, who don't speak english. no curriculum for them.
students with special needs. you need support staff to be able to be paid so this doesn't become a zero sum game. they gave you extra money and you ended up paying more anyway. >> that little extra money isn't going to go the long haul. teacher raises, productive. the funding is what keep teachers in the profession and the funding is what keeps my ell specialist and pulls out my students. we pulled out my three gifted students and worked at them at a higher diversity of education. those who test for reading are testing. >> thank you zoe to you and those the rest of you across the state across the country who do what you do under difficult circumstances. randy, always good to have this conversation with you. it's a priority for us. has to be for the nation, parents and children.
we'll continue to cover this. up next, if you're one of the billions of people that use google for e-mail and g maps, you are giving information to the internet giant. i'll be joined by the google giant who says access to our public personal information and browsing history makes facebook look like child's play. you're watching msnbc. i'll be right back. e, but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz. for people with moderate to severe psoriasis, up to 90% had a significant improvement of their psoriasis plaques. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms.
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the facebook data privacy scandal has put a spotlight on the data collection practices of social media and other online platforms. while facebook has a lot of access to information about you, consider how much google could know about you. google has many products and services under its umbrella. the search engine, google maps, youtube, chrome internet browser, google play, google assistant and cell phone operating system android. it gives google all huge reach. the android operating system is used on more than 2 billion devices. maps, chrome, search, youtube, g-mail play has 1 billion users. according to the "wall street journal" google can use its services to collect data whether you have an account with them or not. like facebook google has access to your name, gender, phone
number, where you live, what you browse for, your location history, youtube videos you watched and assistant requests that you made. whether you make them using your smartphone or google home and that is just the start of it. also like facebook google says it uses all this information to target its ads to users. now you can opt-out of the ad targeting but you can't opt-out of the data collection. joining me now to take a closer this is the president of internet consulting firm precursor. also a leading expert on google. he's the author of the book "search and destroy." why you can't trust google, inc. he served under the bush administration. we have talked so much and daily about facebook. but there's a little bit of a difference in the willingness of participation in facebook which tends to be more active than
google, which we sort of take like the air we breathe. >> yes. on the issues of privacy with google are a thousand times greater than facebook and it's not that facebook is not a problem. people just have no imagination of the amount of data that they collect in google. what the difference is, is that facebook is one app. google tracks all apps. it tracks everything that goes on the internet. it literally crawls the web constantly. and it tracks you when you're not on the web. when you're moving around through android or other places. it knows where you're going and what you're doing. so it is holistic in its collection. facebook is collecting what you're sharing and what you're doing when you're on that app. so the amount of data is just, you know, it's a thousand times greater, at least. >> people talk about their privacy, the right to privacy. you wrote on a blog earlier this
month about how americans lost their right to privacy. you say in 1996 congress also unwittingly set into motion an exceptional emotion of america's offline right to privacy when it passed the telecom act which exempted and immunized internet platforms from accountability and consumer protection responsibilities. was that inadvertent? >> yes, it was. they intoned to give the internet a lot, you know, the unfettered by federal and state regulation. however, people never imagined what it would become and so they had -- the internet was a bulletin board internet at that time. they wanted to make sure that there would be freedom of speech on the bulletin board. now we use it in almost everything for everything every where. so what the problem is, originally people didn't understand it but they exempted from accountability a regulation
things that happen with internet data and then if you were an internet platform, intermediary, you were immunized for whatever happened on your website or anything you didn't do to protect people on the website. so they created this immunity which was immense. when the internet grew bad guys -- >> we recently saw a change because people said hold on. things are being allowed that we didn't think of back then. given the hearings we had in congress, the european union has something called general data protection, is point that the wise thinkers of congress might be able to figure out, hey we don't need to overly regulate the internet, just make it a safer place. >> when i wrote my book about google i said as long as they
obey the law and treat everyone else the way they want to be treated i have no problem. what i told congress is if we had equal accountability, meaning that companies that worked on the internet had the same legal and regulatory, whatever obligations that you have when you do the same thing off line, we wouldn't have a problem. but the problem is we have created a wild west internet, which side-by-side with everything people do. it is what -- the internet is every where people work, play and live. and so that dark side literally operates, side-by-side with the online world. and you can't have a nation divided, a house divided like this. you have to have one set of rules that apply equally to everybody. >> it's a good read. thank you for your guidance. we're just getting saturdayed on this particular conversation.
you are the president of the internet consulting firm precursor. he's the author of the book "search and destroy." we'll keep talking about this issue. coming up i'll be joined by a former wall street insider that says the u.s. is vulnerable to another crash. going to be a great conversation. you want to hear it. you're watching msnbc. but what a powerful life lesson. and don't worry i have everything handled. i already spoke to our allstate agent, and i know that we have accident forgiveness. which is so smart on your guy's part. like fact that they'll just... forgive you... four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it.
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i'm going to talk about collusion. now, usually when you hear the word collusion you think of russia and the special counsel robert mueller's investigation. but there is a troubling financial issue associated with that word that my next guest says is flying under the radar. it's the title of her new expo say, collusion, how central bankers rigged the world. it explores the growing influence of central bankers and alleges that they're working with massive financial institutions to manipulate global markets. now, as the book's title suggests, there are signs of another financial crisis emerging and that there aren't enough checks in place to stop it. it reads, quote, enabling certain banks to become too big to fail was the catastrophic mistake of the very body supposed to keep this from happening, the federal reserve.
with me now is nomi prince, former wall street insider, author of the book collusion which is out tomorrow. i have it in my hands now. nomi, great to see you. i have to say the domain of people who will criticized the federal reserve tend to be conspiracy theoristists who think it's a secret society. your criticism is different. do not think they should have never veend the way they did in 2008? >> i think the level they intervened was far surpassing, they chose over the period for a decade from the perspective of the fed dump 4 1/2 trillion dollars into the banking system, european central bank similar, bank of japan, the top banks of the country and in the world have effectively benefited from the largest of central banks over this ten-year period. we are supposedly over the emergency. >> yet we are still -- only now coming out of those record-low interest rates. what's the consequence? for people watching my show,
what's the big deal other than the fact if you wanted interest in your account you haven't been able to get it for many years. what's the consequential of central banks being so involved? >> the problem is that this fabricated money goes into the market system e. it goes to banks to be able to buy back their own stock. it goes to corporations to borrow more than they should or are able to repay under normal circumstances. creati creating asset bubbles inflation everything. we're no longer in a market value means anything. we're a central banks of externally infused the markets with this fabricated -- >> while donald trump likes to take credit for the stock market, it was barack obama. actually the idea in order to save the global economy, we made access to money and we created money so we did prop up the housing market and we did prop up the stock market. we're seeing the effect of that now. >> we're seeing the fact that because it's artificial we should be watching for signs because it's artificial it can break. when it breaks it can break bigger than before the financial crisis. we're now in a situation, for
example, global debt is 225% of global gdp. we're operating -- >> global debt is much bigger than global gdp. global gdp is the net value of all the goods and services produced around the world. there is much more debt than we actually produce on a yearly basis around the world. >> that's correct. and way more debt than there was before the financial crisis. by virtue of money being fabricated into the financial system and available cheaply to banks and stocks buy back along the way, the market fluctuation is high, it looks it's healthy and there is no there, there. there is a mass i am wall of the debt that ultimately has to be paid from real things. >> all those banks that were too big to fail are bigger now. they control bigger parts of the economy than they did before. the idea that that can't happen again is just empirically not true. what happened in 2008 can actually happen again. hopefully we'll be awake and ready for it if it does. >> not only that. it happened then because of
subprime mortgage being slice and had diced throughout the world. now it's corporate loans and corporate debt. the exact same forms of securities created ten years ago out of mortgages are now being created out of all of this corporate loan and corporate debt. and it's a global phenomenon. again the height that we will fall from is much higher because of the activities of central banks rather than focusing on the real main economy and given the narrative they are and it's healthy because of them. they have 4 1/2 trillion dollars worth of assets on their books going nowhere. by definition they are ring fence on the fed books and not going anywhere into the real economy. >> it is complicated but you dedicated many, many years to this idea and the work you've done on it. collusion, how central bankers bank the world. we're going to be back after this quick break. you're watching msnbc. prepare for your demise, mr. billingsley! do your worst, doctor. i will. but first, a little presentation.
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all right. we're back with a check of the markets. as the trading day winds down, we've got less than a minute left in trading. the dow was down 117 points. that is almost one-half of 1%. look at the way that's gone through the course of the day. it started off strongly in the green and then made its way down lower. it's closing on a down note. you can see even as i've been talking to you it dropped another percent. what we are going to be watching for tomorrow is to see how markets react if the u.s. tariff exemption on e.u. steel and aluminum does actually expire at midnight tonight and is not renewed. this is going to be a serious matter. this is what macron wanted to
get done, what angela merkel wanted to get down. it isn't getting done. this does it for me. i'll see you tomorrow 11:00 a.m. eastern with stephanie ruhle. thank you for watching. "deadline white house" with nicolle wallace starts right now. /s >> hi, everyone, it's 4:00 in new york. we come on the air with breaking news in the legal battle between adult film actress star stormy daniels and the president of the united states of america. michael avenatti, daniels' attorney dropping the bombshell a couple hours ago that daniels is suing the president for defamation. the case is over the president's attack object daniels in a tweet in which he seemed to imply she was lying about the man who threatened her in a parking lot. here's the tweet in question from president trump. quote, a sketch years later about a nonexistent man, a total con job, playing the fake news media for fools. but they know it. here's the sketch daniels and her attorney released of the man she claims