tv Boom Bust RT February 26, 2019 1:30pm-2:01pm EST
it's the beginning of the week and there's lots going on and it's a good thing that this is boom bust broadcasting around the world and covering the world of business and finance and the impact on all of us i'm bart chilton in washington d.c. and we're sure glad you've taken the time to be with us coming up today are we on the brink of yet another breakfast breakthrough are the correspondent shadi edwards dynasty joins us from london to bring us up to speed and it's fashion week in paris but the color remains yellow as in the yellow vests protesters are to charlotte dubinsky tells us if progress is being made with the latest from paris plus our domestic political movements the real remedy for addressing inequality joel burns thanks so he's the c.e.o. of hunger free america and he joins us to discuss also further u.s.
trade tariffs on china have been put on hold at least for now is this a strong step toward better relations are to correspondent alex behala of it will be here to discuss and later general electric has fought off its form of business in the stock has taught the annual share of simpler trading joins us to dig deeper into recent market moves all that directly ahead but first let's get some headlines let's go. great britain on the edge of bricks that leads our global report today is prime minister theresa may reject for now at least a call from the president of the european council to delay the united kingdom's departure from the european union council president donald tusk earlier today told reporters that an extension of the so-called article fifty process for the u.k. to leave the e.u. would be a rational solution and signal that the e.u. would be understanding of an unnecessary delay at the same time mr tough seems to be pressuring ms may to show she can line up a parliament. the majority behind any version whatsoever of a brics
a deal much less specific demands from the heart brought to tears among her colleagues in the conservative party at a press conference today in egypt ms may affirm her commitment to a timely breaks that deal we have within our grasp as i've just said i've had a real sense from the meetings i've had here conversations i've had with e.u. leaders in recent days a real sense that we can achieve that deal it's within our grasp to leave with a deal on the twenty ninth of march and that's where all of my energy is going to be focused and as a prime minister mentioned the schedule brecht's that date of march twenty ninth is now only thirty two days away and now for an on the ground look at all of the breaking bread drama we are joined by r.t. correspondent shaadi edwards who joins us from london shaadi a thank you for taking the time to be here we know it's late over there what's the latest and what do you expect to happen in these dwindling days leading up to march twenty ninth. well as tourism a is accused of kicking the can down the road and
running down the clock unable to break the deadlock however you want to call it the e.u. has gone one step further by suggesting that directs it could be delayed up until twenty twenty one now here in westminster critics are saying that that is somewhat painful the notion of extending all of this laborious process even longer than two years is somewhat painful but the fact is fact westminster is an absolute deadlock to reason they simply cannot get a deal through parliament and the most controversial problem within her deal is the irish backstop issue and that's why she's trying to seek concessions and secure changes from the e.u. over this particular issue now is that in the mind the e.u. has now suggested extending the twenty month twenty one month transition period for an extra amount of time to allow the u.k. and the e.u. to develop a future relationship but also to break the deadlock when it comes to the brics at backstops called deluded oh cool had determined to reason they are still insisting
that there is enough time before that march the twenty ninth deadline to not only solve this impasse but to get a deal over the line or to course want to. thank you are you sure appreciate it. and while brett's world continues to engulf england just a course of channel france remains fractured by the yellow best protesters are to correspondent troy dubinsky tells us from the streets of paris how the protesters have shook the nation's commerce and what the government is doing to quell unrest that's just kicks off thousands of models will take to the catwalks to show off the trends for next season but across france it's hard to look beyond the current color yellow after fifteen consecutive weeks e.l.o.'s protests are still taking front row and at the same time they're unpicking the french economy the government says it's provided some forty three million dollars in financial aid workers who've had their
hours reduced as businesses struggle with the anti-government protests businesses made in the city centers across the country have tapered the most with revenue down between twenty and forty percent on average the government has also handed out a wide range of concessions with a hefty price tag of up to seventeen billion dollars but according to the finance minister france's look book will also include cutting taxes one of the main calls of the protesters sounds like good news except that that will he said correspond to cuts in spending which could mean services are stretched thin however there is some good news the french president mark on the economy is starting to show some resilience to the yellow best movement flashed a different february suggesting output in the eurozone second largest economy has stabilized and the latest unemployment figures show that they've dipped down to eight point eight percent the lowest level in ten years reducing the jobless rate was one of michael's key pledges and it seems that he could be delivering on one of
those which could help boost his status show that even ski the boom bust in paris. we thank charlotte for that report what a beautiful day it looked like parents. and picking up on the protest our next guest wrote an opinion editorial recently make the case that domestic political movements in industrialized nations should do more to empower impoverished masses to take charge of their own future and order to end hunger and reduce inequality jo'burg the c.e.o. hunger free american author of america we need to talk a self-help book for the nation joins us now hey joe good to see you thank you for being here in studio oh my pleasure bart so let's look at this you talk about inequality in your opinion editorial and sort of as a touchstone for inequality you point to hunger and you say that's getting worse and worse not just in the u.s. but a lot of places in the industrialized world and other places and then you say that there's been a shift from public funding dating back in the u.s.
to ronald reagan but to private funding and that hasn't worked out so well explain it charities fine and we've all worked on efforts to increase the amount of food donated in america but that's not a substitute for jobs living wages and a serious safety net i tell foreigners you know if you want to follow america's lead follow us on jazz follow us on basketball follow us on the first amendment but for goodness sakes don't follow us on social policy and that's what they did right and reagan came in and he did all these things he president for all the good that he did he did some good but the wall came down except the end of the cold war but he made this shift back to the states block grant kmita development block grants cut low income assistance and all of those things you would think not really a great model didn't work out you quote some crazy figures about the number of food banks in the u.s. that that increase but then other nations adopted it like the u.k.
right yes and around the globe people are actually modeling their charity assistance based on the united states they're literally taking floor plans from us cherry's no again charity in a vacuum is for. but when david cameron in the u.k. announced his so-called big society it was just like reaganism redox or the points of light that the bush's push cutting social programs not engaging in policies that created jobs and increased wages and what happened shaab poverty in the u.k. shut up for all of the faults of the previous labor governments and i don't agree with them on their international policies but they dramatically reduced child poverty in the u.k. and then the conserves come in and they exploded again i do not know why the world is following our worst example so the metrics really speak to themselves and you point out in this great opinion editorial that shifting to the private sector which
you know has its place as you say but the numbers really have gone down and there are more food banks who may have a chart on this in industrialized countries and there's ever been before taking the u.s. example and so these metrics that it's getting worse mean that something has to be done right absolutely and we know what works in the same way we know what causes climate change and we know what can solve it and there are people paid a lot of money to lie about it and say oh the science isn't clear it's exactly the same with poverty and hunger we know no shock if you have more money to buy food you can get food particular talking industrialized countries which have amazing agricultural abundance so there's no mystery about what we do says hunger in industrial eyes countries make sure that people who are working earn enough to feed their families and when they have disabilities when their children when they're senior citizens when they're temporarily unemployed make sure there's a safety net big enough to buy them food and by the way this isn't only good for
poor people it's good for the economy as a whole any economy that has such a significant portion of the economy who can't afford to buy the basic goods and services of that economy is going to flounder in the long run and it's. about national security no superpower in the history of the worlds has remained a superpower if it's failed to feed its own people so if you want to ignore the korean ignore the old testament ignore the new testament ignore every civil ethical tradition that says we have to fight hunger if you're just a selfish capitalist then you ought to end hunger and you ought to have higher wages more jobs and a safety net because it's good for you couldn't agree more with you one of the things that i enjoyed about your opinion editorial was you went back and gave some history that i'd forgotten quite frankly part of it was back to martin luther king and the war on poverty and that was really a citizens movement the change from nixon denying things is that sort of movement we see it we saw it then we're seeing it with the yellow vest now is that what you
think needs to happen to change policy lou when i tell people all we can end hunger in the united states we almost did in the one nine hundred seventy s. they look at me like i'm crazy but just look at the marriage equity movement no matter what you think of the morality of it i happen to be for marriage equity but no matter what you think they changed american society and they changed the way our laws work because they empowered the people most effective in affected empowered gay and lesbian people speak on their own behalf we need to empower low income people to be leaders in the movement we need to convince middle class people that's in their self-interest and we need to isolate and discredit peacefully and democratically the people on the other side who are stand for policies that increase hunger so empower the masses convince the people who are undecided and then defeat the opposition and that's what we need to do it's simple reduce inequality jo'burg thank you for the great work that you do my friend it's an honor to know you and have worked with in the back of our. and there is news on the race
to build cutting edge five g. internet infrastructure here in the united states u.s. based telecom sprint says they will launch a five g. network this coming may and nine major u.s. cities including atlanta chicago phoenix new york city and here in washington d.c. the value. beast company says five g. service is already available in downtown chicago in the loop the company did not disclose details about services plans and fees for the coming five g. service five g. internet technology enables quicker broadband speeds and could improve a nearly unlimited range of applications five g. uses radio frequencies that are shorter than used in the current four g. networks and are less wasteful because the signal can be more accurately targeted however some experts and activists has raised questions about possible health effects from the new technology the world health organization for example designated wireless radio frequency transmissions as a possible carcinogen. and time now for a quick break but hang here because when we return further u.s. tariffs on china have been put on hold at least for now is this
a strong step toward better relations with china are to correspondent alex behala vetch will be here to discuss plus general electric has pawned off its pharma business and the stock has popped the annual showing of simpler trading joins us to dig deeper into recent market moves as we go to break here the numbers at the closing bell will be back in a flash. what politicians do you suppose to. put themselves on the line they did accept it or reject it. so when you want to express what you. want to us.
to do right for us this is what. you do get. interested in the. join me every thursday on the alex simon show and i'll be speaking to guests of the world of politics small business i'm showbusiness i'll see that. you know world is a big part of. it and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell us more than ever we need to be smarter we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the
time is now we're watching closely watching the hawks. welcome back turning to the other major trade debacle roiling our globalized world economy negotiators from the u.s. and china are sending positive signs about their ongoing efforts to remake their trans land transatlantic trading relations ahead of a march first deadline on sunday president trump signals his intentions to hold off on in the new tariffs in the face of recent progress on the chinese side state media including sean's while and people's daily gave similar official signals of cautious optimism about the course of trade talks citing mr trump's intent to delay a new tariffs at the outer edge of speculation some observers are suggesting that the process may develop sufficient momentum to warrant a leadership level summit to seal the deal on trade and to analyze what kind of
global impact of move may have we are now joined by the able alex mahela but she joins us from toronto able alex what kind of progress are we seeing that has brought this kind of optimism to the negotiations. well you have a vice premier coming to town to washington with his team in there talking with the trumpet his folks and when you see the momentum that you've talked about basically just the atmosphere in the room you can see that things are moving forward to hopefully in the right direction but who better to tell you how it went that donald trump himself here's a couple of tweets from donald trump and i think this will kind of break down exactly what down went down during these meetings mr trump says i'm pleased to report that the u.s. has made substantial progress in our trade talks with china and important structural issues including intellectual property protection technology transfer agriculture services currency and many other issues as a result of these very next week's productive talks i will be delaying the u.s.
increase in tariffs now scheduled for march the first assuming both sides make additional progress we will be planning a summit for president g. and myself at mar a lago out of all places to conclude an agreement a very good weekend for the u.s. and china so what we know is that we have escaped two hundred billion dollars more in tariffs that would have been imposed against chinese imports of this would have happened at twelve zero one am on march the second so this has been avoided of course markets in asia were very positive when they heard this news markets have gone up and mr trump also said that in the future he is hoping to have many more meetings happen now as we know that there were a couple of days of meetings here before him and president xi meet so that you know things could be put down to pen and paper and they'll be a few steps along by the time they meet and hopefully will be able to conclude this thing after all now i know a little bit but you tell us the specifics of seem to be a little bit of drama between president trumpet his own negotiators and what can
you tell us about that alex. little bit of comedy of course you know we see these things every once in a while with the president trump it's people this has to do with memorandums of understanding it let me see it let's go straight to a clip here where we're stephen knew sions talking about it and then i'll get back to you and tell you how the drama unfolded the ambassador is done a very good job at the documents multiple avenues that will be fine today and forcible and cover all different types of industries if we can successfully conclude this this will be very good for u.s. business and finally allowing china to open up to us business these. so we're talking about m.-o. use of memorandums of understanding and mr light hisor right before a mystery new shouldn't is basically trying to say these are binding contracts because the president trouble say i don't like them or use they're just you know that they're too wishy washy they're not binding contracts we want to have some real contract here and let me tell you just from experience i kind of side with
president trump here i've seen it happen with the u.n. i've seen it used to and a thousand times over and ammo use or kind of a preamble usually to a real agreement now i'm not a lawyer and mr lighthouses probably right that these are binding agreements but it's in these negotiations really you know one of them will you you want to agreement of a different sort because it's just it's sort of that you know like feel each other out pat on the back to the thing yeah we're going to talk about this more how much weight does it have well cording mr light hundred legally it does but i wouldn't discussions of between people i have seen them before and i've never taken them that seriously maybe you have something to say to that part seen a lot of them alex and you are right that they're just worth about what the paper they're written on it really depends on the people in practice once those people are gone they really don't mean much so you're right it should be and ultimately in a trade agreement and maybe they'll be more questions about that on wednesday mr light has or testifies before the house ways and means committee so we hopeful
hopefully we'll get some more specifics on that are to correspond alex myhill of it's thanks alex thank you. and turning from china's trade diplomacy to domestic policy choices china's banking and regulatory commission is pushing the increase available credit in an online statement the commission called on state on commercial banks to increase lending by over thirty percent thirty percent in the coming year the commission china's top regulatory body called for lenders to target their efforts on smaller businesses as well as getting non-performing loans off the books. in the shifting health care sector united health care group has lost a round in court and a case that could set an interesting precedent in the so called poaching cases listen to this is pretty interesting a judge in boston denied a request for upton united health pharmacy benefits manager and data analytics
subsidiary to order a former optima executive to stop working at a new joint health care venture involving amazon berkshire hathaway and j.p. morgan united argued that their former employee optum david smith knew secrets from his time at united that would be so helpful to his new employer that he should be prevented from working with them as we've alluded to here pharmacy benefit managers have developed a lucrative nation the health care sector while also making enemies as they work to shift cost and benefits among already established players the judge in this round of court battles has now sent the case to arbiters and in the meantime mr smith can continue in his new job. and thinking of health the break up of general electric or g.e. has passed a major road marker as the venerable american company divest its drug and health business g.'s new chief executive larry call announced the sale of the unit to the dot com or corporation for twenty one point four billion dollars as part of an
ongoing effort to rightsize a sprawling company and refocus on core competencies g.e. stock jumped on the news and mr call touted the move as a instance of quote thoughtful deliberate action to reduce leverage and strengthen our balance sheet and this will reviews from investors for mr cole performance in this case to be mostly positive with informed observers impressed by the price mr kopp was able to pay for g.e.'s biopharma unit. and for more on g.e. and other market moves we are pleased to once again be joined by danielle sherry of simpler trading welcome back danielle. thank you how are you there today i couldn't be better and i'm really pleased that you're here because i want you to tell us about what you think about this movie about g.e. they are making so many different moves themselves off loading things throwing things overboard is that going to make them a better company and what do you think about them as us as a buy. i definitely do think it will make them a better company because i think what g.e. needs to do is they need to focus they really need to focus on their power aviation
and especially if there are new or new it will energy segments of their business and i think that's what they're looking to do and this cash infusion is going to help them really reduce their debt and work on their balance sheet issues so while i look at the you know you look at it in two different ways right we look at the overall story of them we also have to look at the technicals the background of the type of the overall story is great the technicals not so great over the course of the past two years it's been an overall down trend but if you look at g.e. from a long term basis i do think they have especially in the renewable energy area a lot of room to grow renewable energy they seem to be doing well with their jet engines of truth so there are lots of maybe that's their core competencies that we're speaking about there in the headlines daniel let's move to target who's in the news today saying they're going to go after a specific retailers an effort to be more i guess amazon or wal-mart like give us the latest on that and what do you think about them as
a boy. so target's an interesting case because last year target was an incredible retail buy but it got just completely sold off on the last quarter's earnings report so i'm a little bit sketched out about target but this brand new news story is just incredible because target has a huge area of potential growth in their e-commerce business if they really have to step it up if they want to compete with amazon if they want to compete with wal-mart and i think that the way that they're trying to do that by going in and adding partners in their online space based on what their clients are actually searching for is going to be critical and i do think that even at this quarter if they have a bad earnings report i think that in the long term it's a great buy and let's shift also to nike and put on our running shoes because they've had this sort of embarrassing problem i guess they have a lace up shoe that laces up i guess with an app and if you're using an app to lace
your shoes how that works but supposedly buyers who've bought these shoes are saying hey they only work for a little bit of a time. doing pretty well but the whole controversy over the capper nick commercial success i noticed last night watching the academy awards they had a great commercial out there with us arena williams but this got to be pretty embarrassing for them what do you think of nike and what do you think about them is something that average investors should potentially consider. so i do think it's embarrassing especially the episode last week with the shoe breaking on court for the duke university basketball player but at the end of the day nike's pioneering a new technology especially with the self-effacing and the apps and it also is one of my favorite stock by one thousand been one of my favorites to trade in options as well as holding long term stock if you look at the way that it climbed after the
fall that we saw in december i mean it was one of the very first relative strength bias that rose from the ashes and regardless of any type of scandal with nike i look at those as purely buying opportunities to add to my position oh very interesting ok and we've discussed about a minute left but i want to ask you what else have you been looking at anything very interesting for the boom busters so i really like united healthcare united healthcare has been in consolidation i didn't really move too much today and i'm working to add to my positions united health care for the run into the next quarter's earnings series you know health care is a pretty good solid space right now and i think it's a good place to focus one of the few sectors that did really well i think it might been the best performing sector of the s. and p. last year so i always appreciate the great advice daniel of simpler trading think you did you know. thank you. and that's it for this time thanks for being with us
you can catch boom bust on directv channel three twenty one dish network gentle to enter your streaming twenty four seven on photo t.v. you know that the free t.v. app channel one thirty two ers always you can catch us at youtube dot com slash boom bust party so long for now seen eckstein. what is do before you came here where did you work before you came here where did you live well death row in many us states capital punishment is still practiced convicted prisoners can spend years waiting for execution but most of the time the victims' families they are very much in favor the death penalty there are some people because of what they do have given up the right to live among us some are even proven innocent off to years on death row and how many more exonerations is it
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the picket out on you the man number one. the u.s. is mobilizing troops for a military intervention in venezuela so says the russian security council and its failing leader nicholas claims washington is after his country's natural result says. north pole new puter before leaving for a long denied states wants venezuela's oil and they're willing to go to war for the oil. cornered in the commons the british prime minister says m.p.'s will get a vote on a no deal breakers in or to delay britain's departure if they reject teresa mayes even divorce next month. and india claims it's killed three hundred members of a terror group in pakistan control.