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tv   News  RT  June 21, 2018 1:00am-1:30am EDT

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no i just don't because i think they'll be so much cheating on the way out that it's going to have natural sellers going on the way up there would have to be a major major disruption or a major middle east conflict between iran and saudi with some major tensions to get it back up there because you're going to have natural selling all the way up on this market david thank you for your time david greenberg the founder of greenberg capital see you next time thank you. and the long standing component of the dow jones industrial average index general electric has been booted and replaced by walgreens boots growing up i recall standard bearers like g.e. and international business machines i.b.m. is always some of the dow's biggest stocks the move is somewhat of a landmark in that the dow began all way back in eight hundred ninety six and with g.e.'s departure now none of the original companies remains as part of the index and time now for a quick break but stick around because when we return we take a deep dive look at the definitive definitive disruptor in the media sector that
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netflix with the host of the big picture of home and plus we'll ask kevin cushman of the center for economic policy research what could be done to change some of the or cast on the financial demise of the us social security program and here are the numbers at the closing. after three years of conflict it has been estimated that out of a population of twenty seven point four million twenty two point two million people in yemen are in need of humanitarian assistance so why are the u.s. and u.k. so the saudi u.a.e. war on him. what politicians do something that. they put themselves on the lawn they get accepted or rejected. so when you want to
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be president or injury. or somehow want to preserve. it's a right to be for us this is what the forty three in the morning can't be good that i'm interested always in the waters of our. first sit. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it became ill in the death penalty just because i think that's a fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we more executing innocent people is terrifying and there's just no way that doesn't mean that we're even many of the times families want the death penalty to be abolished the respect to get tell here is because that's what murder victims' families what that's going to give them
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peace that's going to give them justice and we come in and say. we've been through this this isn't the way.
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if you ever looked around a big city in the u.s. and wondered do we really need another starbucks are there too many you may be surprised to hear that starbucks is answering that question with a clear no on tuesday the seattle based coffee store chain told investors about plans to close one hundred fifty stores in the coming year that figure is about three times or typical closure rate the corporation chose to stay. back amid a visible glut of coffee shops many of them chasing the lucrative trend starbucks created that competition has contributed to a meager one percent expected sales growth figures for the third quarter of the year the closures will be focused in what starbucks terms densely penetrated markets those include places like washington d.c. for example which has more starbucks per capita than any state with more than one for every ten thousand residents state of california incidentally has the most stores with over twenty four hundred and sixty. the south korean crypto exchange bit thumb announced that more than thirty one point five million dollars in digital
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currency has been stolen after a major attack but some halted all trading as it attempted to figure out how to hack it occurred this is the second major heist in the last week as thieves had already stolen thirty million dollars from another korean exchange called coin rail when asked about the attacks the chief analyst that the security said that digital currencies will always be targets for hackers worldwide the analyst said that no amount of security measures are regulations would be able to guarantee one hundred percent safety as there and a minute and lightly secured systems make them ideal targets sounds like a cop out to me and it can't possibly be true things will get better. and we have spoken on the program many times about the media merger madness in fact today disney has upped their bid for twenty first century fox from fifty five billion done stock and seventy one point three billion total with some cash and that it was reported to be accepted just moments ago actually the new offer came in the wake of
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a federal judge's ruling allowing. time warner deal to go forward after comcast had come in with a fifty five billion dollar bid the stocks for all three companies were up in today's trading with fox trading in the high forty dollars range disney just over one hundred five bucks and comcast trading in the low thirty three's we'll see what happens with comcast stock going forward and today however we go beyond that and dig a little deeper into the definitive media disruptor netflix and becca nine hundred ninety s. blockbuster video stores dot in the country with locations where customers visited and picked out movies or even a video game on tape on tape folks then the move went to d.v.d. and its height blockbuster employed more than eighty three thousand workers worldwide but the upstart competition back in the day was netflix which offered a service where a customer went online and order movies d.v.d.'s which would arrive in the mail the very next day we wondered how they would do it while due to next flick along with
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redbox the automated kiosk of course blocks buster went out of business their co put but like a shark that these to continue moving to eat and stay alive netflix has continued to move forward for three decades they have been the definitive disruptor in the media landscape and here to go deeper in the as veteran media analyst and host of big picture here in r.t. america holland cook how and thank you for joining us always a pleasure ok so netflix you know they help knock off competition like blockbusters and they originally were real beneficiaries they were add on value ads to the big hollywood studios universal's sony warner brothers m.g.m. and. and then they netflix started streaming their services right that was their first big move after the mail order stuff well even before they were streaming this was great news initially for hollywood they had another sales channel and many of your viewers may not be old enough to remember the rewind charge at blockbuster
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where they'd nikky a couple of bucks if you didn't rewind the v.h.s. tape remember that well along came the better quality of set it set there was a had it piece a little piece reminder it said be kind always remind her that she was sorry so along came d.v.d. looked better sounded better didn't have to rewind it so here's a new way to sell through as they say to license hollywood movies so even before streaming and these netflix guys had the vision they didn't call a d.v.d. by mail dot com it was net flix you would go on the net order some flicks they'd come in the mail easy segue to streaming which has pretty much the last nail in the coffin of hard copy and you know why own it anymore when you can simply stream it but i made the movie studios love that because depp flicks was taking all these old movie is that the studios had produced and they were just sending them money so is a big deal so it was sort of disruptive it's hugely disruptive in that way and then
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the big the next big thing when they started we talked about this before with other media venues streaming there of creating their new content talk about that a little bit they start off what with house of cards right and we've seen this in audio as well music has changed to the point where we don't want to own it anymore we just want to rent it it's been commodity like music. movies are like catch up you want some catch up go into mcdonald's grab an armful you know it's all been come out of ties you can get something everywhere but you can only get house of cards the crown and the other stuff that netflix is doing on netflix so now it's an awkward relationship with hollywood because they're licensing less of the commodity product and they're giving hollywood something hollywood can't push anywhere else the crown and house of cards etc and to some extent with the new content mean the
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old content they still need the studios but to some extent creating their own content netflix does not need hollywood because they're doing their own stuff and there are others that are into the game sort of trying to emulate in part at least amazon we know is a big one as recently reported that they're going to netflix is spending eight billion dollars on original content amazon's growth and five billion dollars out of original content the reason reportedly about to enter into some agreement with the actress reese witherspoon so it's a big deal of course apple's out there trying to get into streaming too so it really you have to keep moving if you're one of these companies don't apples and oranges indeed because neither amazon nor apple has to make money they don't have to be profitable in the same way netflix does because amazon is all about selling you other stuff and apple is all about selling you their hardware so they can even afford to lose money as they do on music because they're just trying to get you into the walled garden let me ask you one more thing before we go so you have
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a lot of the you can't essentially be the same you always gotta keep moving like the shark and i was reading something that's very interesting about the old william morris talent agency which now has a content component there too they just did this recent movie and i think it's endeavor contents what make the companies now william morris and devore perhaps and they've got this new book are doing what's the movie with jane fonda and. so they are always were going yeah yeah candice bergen yet so they've also got a movie out there doing content to write so even talent agency for morphing well they better because when you hear the phrase the golden age of television i don't think of grainy black and white kinescopes of milton berle and jackie gleason the golden age of t.v. is right now you mention reese witherspoon there has never been more competition for writers and other talent than there is right now helen cook host of the big picture here on our t. america thank you so much my friend as always fun to have you here you bet commish
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. and if you're concerned about the future of social security and medicare you may have been unsettled by the trumpet ministrations most recent official status report and media coverage that repeated their pessimistic projections one trump administration report said the medicare trust fund will be depleted twenty twenty six while the social security trust fund could be depleted in twenty thirty four but dire predictions about the future of these and vital programs are virtual cut is a cottage industry in washington and experts who defined the program say the problems are overstated while simple and effective solutions are on the table and here talk down some of these numbers are is kevin cashman the senior associate at the center for economic and policy research right here what do you make of these reports kevin i mean you wrote a blog post recently with an eye catching headline that talk to about the social
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security trustees agreed the program is well funded what goes through your take on what they say share so he said in twenty thirty four social security will face a shortfall so it will be able to pay i think it's around seventy nine percent of that to retirees you know that's a problem but if you look at the trustees report which is the report that was just released they also predict that over the next forty years the average annual wage for workers will increase i think it's a fifty two percent. and they also just right there in the report say this is the shortfall that we face it's two point eight four percent over. seventy five year period. and you know if we raise taxes two point four percentage points that would completely solve the problem. it's not a big tax increase. and compared to how much wages are going to grow during the next forty years it's in the more important that workers. see their wages grow so
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it's oh you're saying there's some simple fixes out there as you say two point four percent tax increase now and we just had this big tax cut it's going largely to corporations but individuals get some of it at least at the front end they'll get some of it but what else other than a tax increase might be done we just reported the other day that in russia for example they're raising the retirement age and we've had these commissions i remember kevin mr social security claude pepper who was a first a senator from florida and then a congressman and really until he was the died and a great champion of this they came up with all sorts of remedies. obviously raising taxes a pretty simple one what else is out there kevin that that might be politically acceptable as well as a good policy share so i think it's first important to say why there's a shortfall part of that is because wages are shifting above this cap so i think
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it's one hundred twenty thousand dollars people don't pay the social security tax on their income as any quality has grown more of the wages that social security used to tax are above that cap so that's inequality so how do you fix it equality you know that's a hard question but that would be one way to approach changing the caps yeah essentially lowering the the caps you say no getting rid of the cap can get rid of you or phasing in a higher income so that more income is captured by the tax so if you make two hundred thousand dollars you're only paying the tax on the first hundred twenty thousand ok i get it you know what i thought you were saying was another proposal that's been bandied about you say well look if you make a million dollars you don't get social security is that another one that's on the table that people talk about with any significant degree of certainty that it could be proposed when people talk about that but i think one of the benefits of social security is that it is the universal program and that's also one of its strengths
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and it's politically you know people who are invested in and keeping it around because everybody gets. so i think addressing any quality is a better way to approach it also small tax increases like i said that are completely swamped by what the social security trustees say themselves wages will increase so there's no amount of economic growth we've got pretty great economy right now i mean things are going gangbusters and while not all the predictions are so gangbusters for you know the next twelve years let's assume that there were great let's assume that we had let's let's take the administration at what their word is that they want three percent growth. for the next ten years that's still not enough to take care that the tax revenues would be raised from that the social security or rather the so security input would go through just that's still not enough to take care the problem is that. economic growth is totally separate from
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the trust fund which is funded by these but they were if you're working that work tribute right so the in the trustees predict you know if fancy actuary tables and stuff like that they already take that stuff to and into account so action is needed but it's not as dire as people say it is what's your prediction for what's going to be done anything in the near future and if not what in the longer term. i mean optimistically ninety percent of the democratic caucus in both the house and senate support expanding the program and they do that by getting rid of the cap like i said raising taxes a small amount. and increasing benefits for people at the lower end of the wage scale so i think that's been shifted from democrats used to have a consensus on cuts so that's what i think is the way forward well we'll hope that they come with some consensus to try to figure this out it's been such a political. problem for politicians over the years and every two years there's
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election in this country and that makes it really difficult it gets demagogued but it's a really important problem to be dealt with that we're so pleased that you've spent some of your time your professional career doing kevin cashen with super thank you so much for joining us appreciate it. and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two any dreaming twenty four seven on pluto t.v. the free t.v. app at channel one thirty two or as always hit us up at youtube dot com slash boom bust r t we'll see you next time. but the whole existence to do something that. you put themselves on the line. to get accepted or rejected. so when you want to be president and sure. some want to
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be rich. have to go right to the press this is what before three in the morning can't be good. i'm interested always in the was in the house. or in the city. kentucky. you can get. a co money city with no coal mines left. the jobs are gone all the polarizer said that's. sees people the survivors of disappearing before their eyes. i remember thinking when i was younger that if anything ever happened to the coal mines here that it would become a ghost town but i never thought in
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a million years i would see that and it's how it's happened. day seven of the fifa world cup has wrapped up in russia the final whistle has been blown and goes on in the last game of the day worst brain has topped iran one nil. also on wednesday saudi arabia and morocco are the first two teams to be eliminated from the tournament after falling two or why in portugal respectively. plus
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we've talked to the former fee for president sepp blatter who announced russia as the host nation back in two thousand and ten about his impressions of the current turn of. the base. because it's my eleven suppose cup win a i feel sad day i saw it a little bit is my vote. broadcasting my director our studios in moscow this is our team international mission time certainly glad to have you with us now a whole week has passed since the biggest party on the planet khadafi right here in russia and there are still another three weeks of the world cup to go for all the details as well as the latest updates let's get our special studio on the very center of moscow. it's another beautiful site for you on this moscow evening i wish if it's a the football has been so beautiful it made not of been the high scoring games of the but intriguing in a very different way on wednesday peter schmeichel on saddam hussein three one nil
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result the last that which is just finished and it was spain which he was stopped confidently predicted they were going to be the round but it was kind of scrappy it often in this match scrappy yes and very very exciting in the last fifteen minutes iran actually had the ball in the net that we all thought that they scored but the linesman cable side and it was taking two of our decision we thought it was one one and it was going to be it was going to be an even interesting more interesting into the game which been did it. as i said on many occasions probably the best team in this tournament. and you know they played the game exactly the way they had to do it and came away with three points which puts and firmly back in control of this group this was the goal that came from the strike of diego costa i don't know how much he knew about it on fifty four minutes just going to say you didn't really come from him did it and it was
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a ricochet the defender resigned with a lot yeah he was really silly as a goal and it's the second time we see that goal scored with with a neat what's also really really interesting is that the colors as the manager he said is team up really defensive and. many times when you play like i should have you play on a wave this this is how you play and as long as it's going good it's going good then study and scored and then it's not going good anymore now can you change is does iran have a plan b. and indeed took it put on your hand because who is going in the dutch as to be shown score twenty one goals this season the first asian players of a to become top scoring in a western european leak put him on and change the game play two up front and actually for the last ten minutes of the game they run totally dominated and they had a once a chance of the chance because that would be an exaggeration but there was
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a little bit units they they they had. opportunities with process after the next and then right right to the very very end they had a throw in which was supposed to be long and he was doing the acrobatic one way made a somersault and the referee stopped him from doing it and he looked at him so ok i'll just put it there and put it to a cross today and even then they had an opportunity and i'm not feeling like it's just. like it's going to be part of what i like. honestly just being like our support. for able to make the pitch people it's unbelievable it's the best. the numbers something we love how we're amazed. me playing sports i think it's not
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so pretty i mean it but i think this opportunity to come and cheer for our team. because. you know. i they play portugal. well that's my question do you think that they will go with a more attacking approach because they've shown they can do it i think i think what they'll do is. they will try and keep all the quiet i think the lessons that we've learned from watching portugal against morocco and portugal and again spain is that portugal at this moment in time have not found any form they don't play was the two . and the one player that's shining above everyone in the tournament is playing in that scene with that is of course right now although he's top score so far he scored four goals they have to win now against portugal that would put a round through in portugal out do you give them
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a chance of based on that the two different rounds that we've seen you see the table here said they're a point behind after the win have you seen the defensive and the more attacking iran can they do it if i am follows kurz no be disappointed we lost this game i would be very pleased with my part of my players performance and i would think if i had this situation i could choose a situation two games ago i would definitely pick it i think they're in a great position they played well enough more than well enough to beat portugal that's my honest opinion about spain just saw off the unlucky iranians i would say one nil watching the game was. tough luck for iran at the cousin arena losing by one goal to spain with universal admission by experts and fans alike that they were very unlucky and they played very well nonetheless it seems that the team the manager are in somewhat of an upbeat mood i had of their ultimate kalash their decisive clash against portugal the teams manager speaking at the
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press conference said that it's too early to rule use contrary out i think. we do mourn and we do so much better than the game. so congratulations to. the full players and also. from our side. thank you very much what have you seen with the spanish players and spend spend in fourteen will be able to learn during the scream i managed to catch up with my old friends out of that i was among the striker of the national team who also played very well that was unlucky not to score on several occasions he also seems to be very positive i had of the ultimate clash against cristiano ronaldo sports you go. and but i don't like it today i hold it against portugal we have. we must have a little chance and i hope. we win and
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we do to promise the valar the goal that was disallowed. what is the team feel like deeds do you feel you've been wrong. it was offside yeah. we knew it was offside but as. i don't want to say nothing to their face the spanish players obviously wore in a very positive mood although admitted that this game was really tough to win credit to iran for putting on such a performance and even more and iranian players and the manager also praised their fans the atmosphere inside the cars on arena was scintillating was very very loud probably one of the loudest with thought before it's a fire in the course of this world cup so now it goes to the last game in this group which will decide who goes next to the last sixteen spain portugal all run.
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it's a lot more clear cut in group a and this is how it stands now after today's result we saw a year ago i defeat saudi arabia now you know there's a lot of expectation that you one might fall for you despite easily after russia put five of the saudis but he's very different just won't go next was it people when he didn't get it and they swear explaining tell them he's one hundred appearance or you know why and the result is your wife three and russia or three which is in the russian capital when that goal went in because it means that against a lot of pre-tournament expectation russia through what do you think of the euro coins in this case. they're definitely not firing on olsen in this they've they've got a lot of room to to improve you can argue with two games six points that this is this is proper proposal to fix if tournament playing stuff you don't play your best game in the first the first game of the six you don't peak in the group phase you know
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just try to get through the group face and then you progress from there so you know we know we know the qualities of the euro grind seem we always name will come on ian and then suarez you've got players in there that can school goals so as long as you have this this kind of quality up front you would always make the results you always scolding them. it was we did good much. like you have somebody out there when somebody has been a god so ideally. and leading. and i've been thinking about it like. they did that. my dear no.

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