tv Boom Bust RT April 14, 2018 3:30am-4:01am EDT
news was breaking that president trump had task is economic adviser larry kudlow and the u.s. trade representative robert light hisor with considering the possibility of reentering the trans-pacific partnership i asked danielle about it we both agreed that it would be a good thing to do well that initial reporting was accurate and the u.s. is looking at rejoining the eleven nation accord president trump tweeted last evening that the u.s. would only join t p p if the deal were substantially better than the deal offered to president obama although a technical point here the trump administration withdrew from t.p. before the negotiations were actually concluded we'll follow this important story as it goes forward. and russia is retaliating against recently announced u.s. economic sanctions with sanctions of their own the biggest head turner amongst the measures on the table is a ban on titanium sales a key input for a u.s. based aircraft manufacturer boeing and purchases of rare earth metals the russian
countermeasures reportedly could also include limits on imports of u.s. alcohol tobacco pharmaceutical and agricultural products restrictions on us on bases and jobs for americans plus bans on governmental use of u.s. software and technology the full list is in a proposal to be considered by the russian duma and would require the presidential order to require a presidential order to take effect legislative activity is expected to be swift and in the u.s. labor news leaders of the oklahoma education association or a have hauled in official end to their nine day strike and declared victory even though the legislature denied their main demand of ten thousand dollars and pay increases financed by an increase in capital gains taxes the unions decision to pocket a six thousand dollars raise was criticized by some teachers including the group the oklahoma teachers united in arizona governor doug do see went from refusing to
actually meet with any teachers on tuesday to offering a package on thursday that he says meets their demand for a twenty percent raise teachers say they were checking his math good for teachers and want to see more details put into legislation before they decide whether or not to walk out and in kentucky thousands of teachers parents and students rallied today at the state capitol to press their demands for greater investment in education and defend teacher pensions and climate news the united states department of agriculture is drought monitor data shows that drought conditions in much of the southwest portion of the country have worsened the southern high plains and local. home is the worst welp twenty percent of the state is experiencing sectional drought that's the driest drought classification and in related news we oftentimes learn that drought conditions in california mean the water supply is in jeopardy but recent and repeated storms have brought lots of persist for tips ation to the
state and furthermore there are melt from the sierra snows which actually tripled this month state why water reservoirs it's their storage is up one hundred six percent above the normal cyclical five holes all that means california should have enough water supply for all of this year. and the eight summit of the americas begins today at lima peru the summit will bring together at least twenty heads of state from the western hemisphere fighting corruption is a theme but the leaders will be hosted by the new peruvian peruvian president martin this caro who took office after the recent impeachment of his predecessor as reported earlier this week president donald trump will not attend the summit the first time a history that a u.s. president has not attended the event vice president mike pence will represent the united states in ten instead venezuelan president nicolas maduro who was disinvited from the host nation called the summit a waste of time of course he would the summit comes at
a time of turmoil in the region with regional power brazil and tumble over the country's most popular politician former president lula da silva having been effectively barred from this year's presidential election by a conviction and jailing subsequent jailing during the appeal that may have been called politically motivated it is called politically motivated by many and zooming in on brazil is a regional powerhouse economy but elephants will be sitting in the room with michael to mir at the summit of the americas that is supposed to focus on corruption and good government here discussed the current situation in brazil with us is the greater depth is a leap thank you so much for the counsel of heaven. affaires right got that right right yes well thank you so much for being here with us so we talked about brazil just from this hundred thousand foot level lot of times so first of all tell us about he is in jail now right he is and he turned himself in on saturdays
and has being in jail since them so he's very popular still right he is if the elections were to they hear would win and the scenario that with any other candidate so far. he is very popular his remains very popular and i think that despite. the temps from the media or from the position of the country his jailing has only increased that to his popularity it is now. you know a common perception that he's being just to leave persecuted and jailed a couple i want to get to the economics here but i don't want to leave quite yet so two things that i've read that i find interesting is one the judicial system in brazil which in the article i read it says that it's really more like an inquisition where the actual people that investigate you can also then put on
a judge's robe or wig and then try you which in the u.s. we say no that needs to be separated is that's what it's like yes we have additional system in brazil that is very out today that we say it's like a moderator power that we have you know the imperio power of portugal and it's very complicated and what we're seeing now is that the same people who investigated also prosecutor and also judge the case so we have for example judge a sergeant modo who has spent years of his life investigating the law now also sending him to jail what is the objective there how can he be objective and. is that he you know he basically his whole career in trying to frame lula and now how it is europe huge question yes there is in brazil we have a four tears of appealing court. case when just went to the second one but
what is most revealing is that life to week we had the justice of the country and they were ruling his obvious corpus his rights to remain out of jail as brazilian constitution site to remain out of jail until the you know all the appeal process is completed and treaty of those just set i believe this constitution does is unconstitutional but. because it really is but because it's look i've got a rule against it it is it is very notable ok we love talking about that stuff but we are business of planet show i want to know about the economy in brazil it has not been great in recent years what show you but i doubt we have since rousseff was ousted you know the workers' party government i think it was the only one since the room democratization shorey it was the only one who really implemented economic policies that try again to close the gap the
social gap in the country lifted out you know thirty eight million people from extremely poor very popular yeah of course and since the first half was ousted two years ago almost fifty million people are now back into extreme poverty and you know little most jailing it's going to have part of the impact in economics was and i have you know there's a lot of. aspects to the economic crisis in brazil but almost jailing one highlights how this institutional krises that is started with. rousseff all stiff going to. no he's deepening right now and sac and things certainty about the upcoming elections i mean. who is going
to invest in a country that doesn't have you know these are well what are the elections in october and can. actually run from prison yes i mean it's a it's separate it's separate product that it might even you think might even help them write a while or his popularity is starting on the rise certainly on the rise alina with the council for hemispheric affairs thank you so much for being here what a delight to have you have hope you'll come back sometime thank you thank you. saudi arabia's mohamed bin solomon known like a rapper as m.b.'s has conducted concluded reveries nearly three week trip to united states what did he do and who did he do it with r t correspondent trinity's chavez tells us. it was a jam packed three weeks for thirty two year old crown prince mohammed bin someone
who is saudi arabia's deputy prime minister head of the economic development team and also the country's defense minister his press corps was meant to change the country's image he met with top executives from corporate america as well as heads of tech companies in silicon valley all part of his plan to show that saudi arabia is open for business going to. his first stop washington d.c. where he brokered arms deals with president trump the much we've followed by trips to harvard and mit where he shared his big plans for technology investments then new york city where he sat down with wall street fight and see errors american c.e.o.'s and attended dozens of events one where he even signed a two hundred billion dollars solar agreement with softbank also while in new york the prince met with u.n. secretary general antonio you ted as another senior u.n. officials the meeting focused on the tense situation in several arab countries and saudi arabia's role in establishing stability in the region then it was off to the
west coast where you had dinners with hollywood moguls like rupert murdoch bob iger and even oprah not to mention some of the biggest players in the tech industry including tim cook jeff bezos and bill gates to name a few he even got an extremely rare look inside of the five billion dollar apple park campus while in silicon valley the prince also visited google where he met with founders larry page and sergey brin as well as the c.e.o. of the company. he was briefed about google's electronic cloud technology and automatic learning as well as ways to incorporate cyber security and according to reports the meetings are all part of the bigger plan to transform his kingdom into a tech and logistics hub in the middle east during the trip the saudis signed a cloud computing contract with google however the financial terms were not disclosed reporting in new york trinity chavez r.t. . we're going to squeeze in a quick break here. stay with us because when we return mick mulvaney has not
burned down the consumer financial protection bureau but he's got a heck a lot of damage bartlett nailer public citizen gives us his reaction he was there at the hearings this week mr ball baby steps to testify weiss for the house and the senate plus author and commentator steve keen joys us from london with the latest on the u.k. and e.u. trading relationship as we go to break you're the numbers at the closing bell for the screen actions today on the numbers board with the red arrows for the south nasdaq and s. and p. oil point in told her all in the green we'll be right back. cranking gave americans a lot of job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck so i chose to drive truck people who rushed to
a small town in north dakota was an unemployment rate of zero percent is like a gold rush it is very very similar to a gold rush but this beautiful story ended with pollution and devastation a lot of people have left here i don't know too many people here and just slow down so much they lost their jobs got laid off the american dream is changing that's not what it used to be. and that's a tough reality to only. apply to many flips over the years so i know the game and so i got. football isn't only about what happens on the pitch to the final school it's about the passion from the fans it's the age of the super money kill the narrowness and spending to do the twenty million and one player. who it's an experience. like nothing else not to because i want to share what i think of what i know about the beautiful guy
a great so will transfer. the case it's going to. forman are sitting in a car when the fifth gets shot in the head. all four different versions of what happened one of them is on the death row there's no way he could have done it there's no possible way because the oldest did not shoot around a corner. welcome
back the wall street journal reports that in twenty seventeen asian venture capital start up money has risen dramatically accounting for forty percent of the one hundred fifty four billion dollars spent on global venture capital funding u.s. investors long and still the leader invested forty four percent of that hundred fifty four billion and continue to do to do more deals than investors from any single nation the move comes as key technological innovations and artificial tell intelligence autonomous vehicles and other cutting edge technologies are emerging as highly sought after initial investment and a task force has been established as a result of the directed by president trump got to have a task force to examine and make recommendations for reform of the u.s. postal system the news comes after presidential tweets related to amazon getting too good a deal on shipping from the post office according to the president who said the postal services and on an unsustainable financial path and must be restructured to
prevent a taxpayer funded bailout. over the right hailing company whose autonomous self driving vehicle struck and killed an arizona woman in march says they are absolutely committed to continuing their self driving car program testing had been halted and says that technical modifications are needed you think but ultimately self driving cars will be safer than those driven by humans and in related news the national transportation safety board n.t.s.b. is in dispute with tesla over another fatal crash related to a self driving test a model exports utility vehicle the feud involves n.t.s.b. excluding tesla from continuing parts of the of the investigation after it was determined that tesla improperly released data details about the crash before n.t.s.b. . investigators had bedded the data. the
acting director of the consumer financial protection bureau mick mulvaney whose all through the hole in the two rector office of management budget director appeared before the house and senate committees this week two days in a row saying that he had not burn the place down and that he was at work almost every day he has previously sought in congress to kill the agency that he leads was criticized by many who supports the mission to protect consumers but not all members agree with that sentiment and here discusses bartlett naylor financial policy advocate at public citizen you're up there on capitol hill for both days house and senate side yes ok so i mean when he said this thing about you know have burned the place down and i know he said it a couple times but he shows up there almost every day i mean were there any gas or were there too many people on the other side it is so breathtaking the extent to which he is deconstructing dismantling the consumer financial protection bureau is
that we gasp at the first one and we can't catch our breath like with another politician we know yes he's filed zero in force meant actions since he took office the last enforcement action you can look on the c.f.p. piece web page is of emma twenty first of two thousand and seventeen he takes office november twenty fourth it's now april there have been zero in fact the score should be negative for because under him they dropped four cases including to one for him who was a contributor when motivating was a south carolina congressman who was a firm that was a contributor to his political campaign and that was one of the matters that he dropped and that's one of the matters that was dropped under his under his oversight that's right ok this person also had the temerity to send him an e-mail applying for the job because he won't be the director indefinitely at least we hope not but she thinks she should be the director of the senate. the person who is with the company of the destination is dropped from the c.e.o. of the company also wants to the director of the sea of p.b.s.
sent a letter to melanie and we use the acronym but the enemy is the cat the word is protection consumer financial protection bureau and here is a person who was who is allegedly had it's nicer corporate financial institution protect its consumers and that's why we those of us who were actually worked to try and get that thing in place ok now what that means that they haven't filed any enforcement actions essentially that they are not acknowledging because i know from being a regulator you know from watching guys like me and others that they always have in the pipeline various investigations going on so there's been a this is not a coincidence there's been a proactive determination not to go forward with with anybody right that's what the data shows so until november twenty first there were two to four enforcement actions a month for the last five or so years that return twelve billion dollars to twenty eight million american victims and since then and if you're not a twelve billion dollars to twenty eight million american that's right over the
last five or six years through and that money that they're returning or in what bartlett credit card scams to sept of lending. over charge is all all sorts of i'll not just putting bad guys in the fining them and then in some cases referring those cases to the f.b.i. the department of justice for criminal prosecution but actually returning money to consumers that's right getting money back that was scammed and putting it back in the pocket of the consumers from whom it was taken you know you and i talk we had you on the program before when this was all go going on the whole the change of the guard there that's pretty much over is an additional cases that the case is what really leander english in fact the court heard the case this week it's on appeal where an amicus public citizen as an amicus a former public citizen attorney is leander english is. and i would say the judges ask critical questions this director has to be independent that means he or she
can't take orders from the president as the o.m.b. director essentially everything that can be vetted can be overturned by the president because he can just draw him back and the judges were critical of that situation. knowledge that they weren't necessarily sympathetic to english as casey that's the person that cordray had had put in place but nor were they sympathetic that this to this is a truly independent situation there are lots of things in government don't work and it is a swamp in many regards i'll give the president that having independent financial folks like i was once your confirmed by the senate you can do and say what you want you can't be fired and i know because it does give you the freedom to say what you want even if people don't want to hear it that's also the case with great consumer organizations and it's the case with you my friend thank you for being here present your work.
and the trade deficit for the united kingdom has grown to six point four billion pounds it's about nine point one billion dollars as a result of decreasing sales to nine european union exports the growing u.k. trade gap was partially offset by increased exports to the e.u. from the u.k. here to join us is steve keen steve we thank you so much for being with us particular when it's late over there in london the u.k. deficit trade deficit is smaller than previously thought what are we to make of it . well not a lot it's not a measure of fluctuation and then there are elements about revaluation of including profits on financial transactions which went recorded previously which are produced to try deficit. a substantial margin going back quite a few years since they've backtracked in the data so it's not a major change it's i think we spend far too much time worrying about mana fluctuations around long term trends and the long term trend i think is still for
the u.k. to have a much bigger try deficit than it should actually have and it's largely in that situation i think because of the impact on the euro making german manufacturing exports and the like a lot cheaper than they would be if they had a genuine currency in europe rather than the euro i'm curious that's a great explanation but i'm curious steve if there is be we think about this whole the whole brecht's that circumstance and the ongoing sort of tussle and whether or not they'll be individual trade accords and that the regulators in the in the e.u. say no you have to have a agreement with all e.u. members but it is correct is that those individual countries many of them still want to trade with london and with the u.k. right. oh yeah i'm in the trade again the tredegar and i think it's something we spend far too much time discussing because conventional economics sees guys coming from specialized and therefore expanding try to is always
a good thing and politicians enjoy going across and being in some exotic location except for donald trump and so on in these agreements they've got a very positive spin on the whole thing in fact what gives you growth is investment and that's where the u.k. is actually extremely wake and sense of the proportion of the economy is devoted to investment it's down towards the order of ten percent of jade a pe where is germany's on the order of twenty percent more of today pay what they need here is more investment rather than focusing upon this obsession about tried when well let's talk about that just a little bit more we talk about growth this year in the in the u.k. how are they going to be not necessarily asking you for the exact g.d.p. numbers that we expect but i mean are they better off than they have been in the last couple of years what do we see the economy in the u.k. given that we see bracks it coming forward next year do we see it making progress or is it still in the doldrums still pretty much in the daltons but of course the
impact of brics it was massively overestimated by all the people who are against brics that if you're a member to go back to the brics the discussions are talking about the next day the economy fall off a cliff they're predicting something on the scale of the two thousand and eight financial crisis which of course the people making those. apologies for interrupting this episode of boom bust we're going to take you live to the russian defense minister who's briefing the media on the strikes carried out by the us to make a on one front on syria let's listen in live now this. identified and monitored all the missile launches this you so sure from you could be then. seaborne chandler learned based sources use if we did not witness any participation of the french air force. u.s. airplanes f. fifteen and sixteen as well as. jets were used over the mediterranean
sea you want to be. alone in mansouri in the red sea strategic bombers b. edge in the one b. . where you entered syrian. airspace at. the turn at a tough area. controlled by the united states. strikes . targeted number of. civilian and research facilities. according to plan our reports and there have been the victims in mt civilians or syrian military we michigan for months based on the information available to us a total of one hundred three cruise missiles were used including tomahawk sea based missiles. someone as well as g.b.u. thirty bombs dropped from b. one b. planes we have fifteen soon f.
sixteen s so i want to use the danske here to surface missiles go. it's launched a total of eighteen missiles the syrian and to air defenses based on soviet produced systems successfully repelled attacks from c.b.s. generally are based sources what is remembered you are forty one missiles were intercepted is what's good using s one hundred twenty five s. two hundred book yes quite hard and systems and this. indicates. that the weapon systems were not used by the syrian forces. highly effective. or so you always do in the last six months russia has fully recovered it is syrian system of and tire defenses and continue to improving your
system i'd like to point out that if you use a girl based on repeated requests from some a while based on the partners we decided not to provide syria with what is has three hundred systems based on what just happened we think we should reconsider it is sheer and not just with syria but with some other states as well so a little better. airstrike targeted earpieces of. the syrian air force. according to our data just do all the airport was started by four missiles all of them what should be doing here at the airport was targeted with twelve missiles all of them were not going to stop did we see that flare airport were targeted by eighteen missiles or to about eighteen hours so it's oh you shut down shot airport targeted by twelve missiles they were all shot down your cue non of the earth fields were damaged nine missiles were launched to get.
airport which is not used by list syrian air force just cause missiles were shut. sixteen with missiles launched watched against homes here porcine. thirteen of them were shut down super no serious generalship heard very clearly missiles were launched against targets close to the money. the seven missiles were shut. your community your ship machine facility was the one we were allegedly having something to do with the military chemical program to syria it was partially damaged piece was so this you have not been in use for a very long time there were no people and no equipment there will russian here defense witnesses are on alert know. how fighter jets are up in here none of these cruise missiles entered the area east protected by the russian air defenses russian air defense systems were not used we believe that this
is a strike on the menu it's not their response to an alleged chemical attack just as a response to you success of the syrian rebel forces successfully. syrian territory from international terrorists and this airstrike was launched on the very day when a special mission over the old w. was york spectacle to start its investigation in. in a suburb of damascus where a chemical. and so we're supposedly used to you know i would like to point out that . there are no chemical weapon manufacturing facility used in syria as reflected by the p c w c news release american aggression indicates that the united states is not interested in object of an investigation is the word assist and the u.s. is looking to torpedo a peaceful settlement in syria.