or russia to sanctions pressure so they have not worked in north korea the way the united states and the united nations wished that they would have been with international lawyer trade expert thank you sir for being here thank you very much appreciate it. and while we are a long way off some like i mentioned former defense secretary william cohen who says it could be a decade what would be a stable north korean peninsula mean in terms of economic opportunity one possible initiative we may see sooner than later is a shared gas pipeline between north and south korea and russia is hoping to cash in on that argues alex mahela ditches following the story in toronto alex we are obviously in the very early stages of north and south korea having closer ties but you can be sure that the nations of the world are already looking at the potential benefits of a peaceful korean peninsula even if it takes a number year of years tell us about this pipeline idea. we know that north korea
is a resource rich in every way shape and form and just think about cellphones and all the rare minerals that they have up there but beyond that like this pipeline would be huge and of course russia's gazprom they've been on it they've wanted to do this for a very long time there was a preliminary agreement signed between south korea and russia back in two thousand and eight it didn't really move forward since that to deliver gas from russia to south korea but to do this effectively you need a pipeline to go through north korea that's how you bring the prices down because you're delivering it with a pipeline and you bring it to one of the biggest markets in the world south korea doesn't have very many resources they're trying to get rid of their nuclear power plants are trying to push down on the coal and this is something that they really badly need we know south korea is a massive economy it's a powerhouse and just imagine put north korea south korea together wow then you have something that's almost unbeatable in that part of the world so looking at this this fact just what. how hungry south korea is this would mean
a loss not only to the koreans or south korea in particular but also to russia this is a huge market they've been doing a lot of business with south korea and obviously this means billions of dollars alex i mean you sort of mentioned how the koreans are viewing this but let me ask you. you know if the i don't know if you heard the conversation within wilkie but they're talking about how president trump said that they're going to stop the we're going to stop the joint military exercises with south korea i guess my question is how do you think the south koreans are looking at the possibility of increased economic development with the same at the same time this looming potential security threat and the u.s. pulling out of these joint military exercises what's your take alex first of all you have to wonder what is the real threat here i mean these military exercises themselves have always raised tensions on the korean peninsula so once these exercises go away it's actually
a good thing everybody kind of melos out so i mean that's from that potential and then when you're looking at the economic potential for happening it comes from the horse's mouth as we heard from a top level korean politician and here's a quote from them and this is talking about just about the gas that they need this is the foreign minister tang killing was and she said should the security situation on the korean peninsula improve we'll be able to review the pipeline natural gas business involving the two koreas in russia so they're talking about the two koreas this pipeline has not been built simply because of the tensions that have been there with tensions there you have that possibility of the north always shutting down the pipeline but if they're working together just imagine what you can have here especially once you have trade between these two koreas never mind a pipeline coming from russia and then that whole east asia part developed the eastern part of russia the asian part of russia china there's a lot of business that could be had here we know that that just between. the trade
just between russia and south korea has gone up forty percent just last year so this is happening north korea's in the middle of this all and they can take advantage of this and we know a prosperous north korea if you see a prosperous north korea you're going to see a stable peninsula there but a stable korean peninsula anyway you turn it countries that are making money seem to be a little bit better off also when it comes to stability these these war games i mean it's been nonsense a lot of countries from the outside looking in have been thinking you know what they're this is just not help the situation at all and for them to go away i think this is an excellent move on the behalf of president trump our key correspondent alex mahela thank you so much alex. time now for a quick break with haying here because when we return danielle de martino booth helps us take stock probably a better word where we are on economic growth in the u.s. as new economic indicators are coming out and as we go to break here are the numbers at the closing bell.
twenty eight team coverage we've signed one of the greatest goalkeepers available to us but there was one more question and by the way who's going to be our coach. guys i know you on the list he's a huge star among us and the huge amount of pressure you have to go i mean eight percent of the poll we do and we will see the great game. you are the rock at the back nobody gets busted you we need you to get the ball going let's go. alone. and i'm really happy to join the team for the two thousand and three and world cup in russia meet this special one come on don't appreciate me just say to
redo the aussie team's latest edition to make it up as we go so i need to look at. the legacy cole guys are the winners the legacy oil guys are the winners the legacy all central bankers are the winners innovation dynamism the constitution the bill of rights these are the losers in this america. that. let.
them go into the hotel they're in the stand on the assume that it will hold its own citizens only those distances are. don't. tell him the old. system is a. welcome back the u.s. district court has just rendered its decision on the eighteenth tee time warner merger and i trust case we're poring over the details and join us tomorrow as we dive into the decision and the impact it will have on the future of media as we speak with special guests attorney andre barlow and perhaps some others and
brazil's murder rate has been quantified qualified and the numbers are not looking good in total the cost of homicides in the nation has cost about four percent of the gross domestic product the washington post observed this as well saying quote beyond the emotional toll on families and communities homicides between one thousand nine hundred six and two thousand and fifteen robbed the country of more than one hundred nineteen billion dollars in potential productive capacity according to a study prepared by the brazilian government with contributions from rio de janeiro based think tank some analysts believe that an even greater increase in homicides in brazil could occur if the country alexei far right presidential candidate. from the social liberal party. has fears over automation become more and more discussed even citi group is beginning to issue job warnings the investment bank has suggested that automation could supplant up to twenty thousand tech and operation jobs that are currently staffed by humans within the next five years jamie for
a say the president of citi is said that more than two fists of their employees would be the quote most fertile for machine processing the problem comes from the potential for the same thing to happen across the financial sector causing more job cuts than we have seen between two thousand and seven and two thousand and seventeen watch out your job may be fertile for machine processing good grief how we refer to things these days. and meal kits gained traction by taking the work out of buying ingredients for a full meal now those kits will be available in grocery stores soon hello fresh is announced that they signed a deal with giant food and stop and shop stores to provide them with meals this is just the next in a line of other meal kits services entering the brick and mortar scene blue apron signed a deal with cosco while albertsons will be selling plated meal kits after they purchased the start up in twenty seventeen many companies have struggled over the years with acquiring and keeping customers hello fresh executives hopes that
a strong presence on the east coast will shore up sales and their customer base what's next the stores cook the meal kits and then sell them in some newfangled thing called a deli counter sometimes the more things change the more they seem the same. there is some new economic data out today as the federal reserve's open markets committee committee begins two days of meetings to take a look at where the u.s. economy stands we're joined by daniel de martino book the founder of money strong and the author of fed up why the federal reserve is bad for america daniel thanks as always for being with us the new consumer price index is out and that data shows that it increase at the fastest paced in six years what do you make of it well you know we've been watching the producer price index which normally precedes the c.p.i. this is a very strange week given all the things that are in the news the statisticians in
d.c. had to mix things up by throwing the c.p.i. out there the day before the p.p.i. so all economist work in serious as of this morning f.i.a. and any of that we've been we've been saying for months that the p.p.i. the producer price index input prices we've been seeing out of the six seven year high for months and months and now we're finally starting to see prices trickle on through to consumers which by the way is not good news yeah well why why is that i mean it's going on to consumers and consumers are having a rough go of it already let me ask you a little bit about the g.d.p. growth it's not final until the end of the month of course but we do see g.d.p. it looks like it's growing stronger than it did in q one and we've spoken to about that in the past but what do you make of it now and what do you think g.d.p. is going for the rest of the year. well you know it's easy enough to paint a picture of an extremely strong second quarter as you say we've only got a few weeks left before the june quarter ends but there are many economists out
there i'm actually of the opinion with them that we could see a four percent print in this year second quarter we've had an extraordinary confluence of factors that have come together that have produced outsized growth in the current quarter but the question is it goes back to that inflation first question you asked me look the trades and tear talk may have forced some some blind buying some panic buying on the part of manufacturers but take one example of washing machines bart washing machine do you think i've lost my mind but in april washing machine prices were up nearly ten percent in may they were up eight percent guess what after years of no pricing power so to speak manufacturers are being forced to pass along these price increases to consumers and i fear for what that implies for g.d.p. for economic growth going into the third and fourth quarter of this year you mentioned there in passing inflation did you know that inflation seems to be right
where the federal reserve open market committee says they want it and you have prognosticated accurately in the past and i assume that you were have done the same thing in this case you think they are going to raise interest rates from one point seven five to two percent tomorrow at the end of their meeting. i do i think that they would they risk actually shocking the markets if they don't i'm going to be looking for the other announcement there were there were rumors on the wires that came out this afternoon that powell was considering implementing a press conference after every a form c. meeting if that's the case part we're no longer talking about g. and l. after june what's going to happen in september we could be talking about what's going to be happening at the meeting in between june and september if jay powell is going to actually be a mature adult and have every single f o m c meeting be alive instead of half of them being neutralized which was in my opinion a very misguided policy implemented by ben bernanke so you're view is that these
meetings should be not open or what they should they should all be like i agree with you now why in the world should taxpayers have to foot the bill for for meetings if policymakers are going to be so paralyzed that they can't take any action because they don't have a press conference afterwards to explain themselves you know make every meeting live and then the fed has much more flexibility and transparency with the public you know and you don't necessarily need a press conference if you just watch the deal you can count on i don't know news networks to do the news and people that comment upon what they've done but i agree more transparency the better your let me ask you about housing you know we did see housing construction increases in april and we spent a lot of time last week talking about the high cost of copper actually a key component in you know new construction do you see housing going down you know . well housing is in a really tough spot right now they have not constructed enough homes for people to
not have commutes that are two hours long and if they're not making a ton of money especially towards the cities and as we know there's been a huge migration to our nation's cities but it's become literally impossible to live in the cities on average american household spent thirty three percent of their income on housing that is an untenable level and if you talk to any home builder they will tell you that they've never had to pay up to the extent that they have for things like copper for things like lumber and especially for construction workers very interesting and you know consumers have to be making this decision now they see interest rates going up to the buy now before the summer they wait when some people have to sell before they have to go back to some pickets have to go to school to get up to let me ask you about jobs and we spoke a couple of weeks right after the may jobs report there was an interesting note that actually more job vacancies than the job seekers the now it's equal to it's
not the exact same the same workers don't have the jobs that are out there but at least it's it's equal which is nice but the three point nine percent unemployment rate it does create a tight job market is it going to be tough for employers to actually find the people to do the work needed to tape the companies growing and i guess in the aggregate aggregate keep their economy going. i think that we've already seen stark evidence mark that it is it is almost impossible for employers to source skilled workers we have got fresh data out of the national federation of independent business that show that company's plans to increase compensation costs are at the highest level since this index started in one thousand nine hundred eighty four but by the same token i'm going to flip this on its head for two seconds challenger gray and christmas every month releases layoff data they also release hiring announcements and those have tumbled by fifty percent this year from four hundred percent to two tissue from four thousand to two hundred thousand hiring intentions of also been cut in half i'm not sure if this is
a skilled labor situation or if there's an undercurrent in the economy that again has me a little worried going into the second half of the year about the resilience the robustness of economic growth a danielle were pressured to time but love to have you back in the next few days to talk about what's going on with the traders circumstance and just really that's going to impact the economy all also daniele de martino both thank you as always for being with us thank you appreciate your time. and video games has delighted us for years and at this year's eve three video game expo it's no exception all the heavy hitters are there from sony microsoft the nintendo each one trying to get the one up on the competition now while there may may sound like kid stuff let me assure you this is big business will billions of dollars on the table total value of the video game market globally is expected to
be worth more than ninety billion dollars by twenty twenty. and that's it for this time you can catch boom bust on directv channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always hit us up at youtube dot com slash boom bust r.t. will catch you next time. stein is getting international recognition with the help of israel at least in the world of zoos and minerals it was dismissive to do it like you know this this is my complicity is going to study all maybe. john does but they should be the only palestinians who gets the most help from his to respond counterparts i don't think there's some of those who in the world on the commission
not only could do this. and that's there's a lot that's not as to how to display any of the muscle that you have i'm going to compete in the doesn't seem to do more in the middle sauced don't piss off. my uncle they keep saying compensate oh boy tonight i think. people know who they can. go and. move on which i did on the show got to move this because a i'm listening to michael going to be a good show host as often we must. not
destroy each other's country their talks ended with kim jong un committing to think we are is a sham an exchange for several promises from damage done. or not reducing anything will not reduce very little bit early for that we have to get things moving the sanctions were remained in effect we will be stopping the war games unless and until we see the the future negotiation is not going along like it should. and the german interior minister's plan to crack down on illegal immigration causes a major rift and on the merkel's new coalition government. for the latest on these stories you can tend to mark the dot com stay with us now for the financial news in the kaiser report.
guys are welcome to the kaiser report to get the you know the public so much to cover and in just a few minutes to cover it so let's get into it stacy ranks you know we have an innovation economy don't we and in fact we're so innovative here that we actually have innovations in poverty you know where inventing new ways to be poor why america is the world's first poor rich country or how american collapse is made of a new kind of poverty consider the following statistics the average american can scrape together five hundred dollars for an emergency a third of americans can't afford food shelter and health care how to care for a family now cost twenty eight thousand about half of the median wage which is sixty thousand dollars and by themselves of course statistics a little but together these facts speak volumes the story they are being beginning
to tell is this america it seems is becoming something like the world's first poor rich country i read that it's very interesting they get into this it's innovation on poverty it's a mix for elements later on in the article including what he called a certain pure tonic goal. radicalism that prevents people from. escaping a mindset of deterministic. pursuit of goals outside of a more community minded spirit that is also contributing to this new neo poverty invention of the american. geist didn't make sense oh no only by their why oh oh. just checking yes yes it's been confirmed
that made sense just to put into context this guy is a professor at i believe it's harvard his name is a mer hake he also lives in the u.s. and london europe you know so like us he's had the experience of that there is another alternative to how you run certain services and basic necessities of life how you provide those to the population whether it's most important being health care shelter education things like that so he's coming from actual experience of you know you can have a health care system that is not so violent and gruesome and abusive to the members of the health care system you can have it you don't need to have this outrageously expensive crazy system it's not necessary there's a way like germany to educate your population at a low cost to all and yet achieve great results and huge manufacturing capacity but
yes the puritanical kind of background that you you must there's a certain sort of. germanic puritan his who of like you wanting to like abuse yourself for no reason and yet it's caused great distress american exceptionalism is a concept that doesn't really apply to america it's not exceptional in very many ways and that in many important ways not in the ways that you would look toward in a society that is healthy there's only one country in the world that deserves that kind of exceptional list moniker and that of course is france the french exceptionalism as well justified it's a jewel among this country but is it getting hungry just thinking of the show as elisa they know was a croissant. well this guy is. philosopher as well so she puts it she says america appears to be pioneering
a new kind of poverty altogether one for which we do not yet have a name it is something like living at the knife's edge constantly being on the brink of ruin one small step away from catastrophe and disaster ever at the risk of falling through the cracks it is two components massive inflation for the basics of life coupled with crushing asymmetrical risk so the asymmetrical risk is in particular how he points out that risk basically has to been taken off the balance sheets of all the corporations and you see that reflected in the s. and p. stock prices and the banks' stock prices and values is they don't take any risk at all there's a huge amount of socialism in america for corporations for the corporate elite whether it's in the energy sector of the banking sector of the housing sector is huge and that's how the housing sector the largest private land lord in the states is blackstone group so this is a huge private equity group and they own the biggest section of they've bought up
on the cheap all the properties handed out by basically fannie mae and freddie mac. for them to take over during you know during and after the financial crisis they also have a majority of the a.t.f. market the exchange traded fund market which is just a rant a system of putting black rock in a position to scrape money away from pension funds in another land grab money grabbing way is completely unnecessary again he talks about it's not necessarily on paper absolute poverty because the america has on paper one of the highest income levels in the world is something like the fourth or fifth highest after several small european countries where the average american has a relatively high income that of a person an anomaly rich country only his income does not go very far most of it is not by attempting to afford the basics of life we've already seen how steep health care costs are but then there is education. there is transport there's interest and rent there is media and communications there is child care and elderly care all of
these things reduce the average american to constantly living right at the edge of ruin one paycheck away from puny one emergency away from losing it all like even just the childcare thing for example you talk about france i have a girlfriend in france who had a child and she didn't have to work for like three years after and the state provided basically all sorts of access to child care from a few months old she could take it to the crash take the child to the crash and go look for work or go have time on her own my sister who had to return to work soon after having a child basically the childcare costs were more than her income. what's that that seems like insane well i often hear the argument that well sure in your they have the greater lifestyle and but reason being they don't want to spend any money on their military because the us are a military protectorate but how stupid are americans to pay for europeans defense
at the expense of having quality of life so most americans quality of life compared to most europeans is horrible and they're subsidizing european quality of life so if you're living in france era living awesome really great compared to the typical american life and thanks to the american taxpayer so. do all i peer tanika lism gets in the way because appear to go will say that while we are down with god you know our belief in god gives us the strength to subsidize the european lifestyle europeans have a great lifestyle but we've got god so it isn't really a fair exchange i would posit know well everybody has their own different. views on religion and what they want and maybe you know the monks live in and you know. hair shirts and they live totally basic lives and whatever but i want to talk about this
article because he says that you know the basics of life the costs are soaring in the united states but incomes have collapsed at the same time so you have health care didn't used to cost half of a median income even a decade ago after all but now it does so what happens when in a decade or two health care costs all of the median income how can an economy let alone a society function that way so in a way i'm kind of curious like our. in north carolina obamacare costs went up forty four percent and then another like thirty percent last year the projected to go up another ten or twenty percent next year so in a way i'm kind of fascinated by this gruesome experiments it's kind of you know like really gruesome experiments of the past in history that we've seen as like how how gruesome will this get like how awful like what will we do to ourselves. as they would say in france look that up and you'll be appalled but you mention medicare as well.