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tv   Boom Bust  RT  March 9, 2019 1:30pm-1:59pm EST

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shoot their way across the colombian border to venezuela where the opposition and their u.s. supporters seem to be seeking to create a flashpoint. and we reported earlier in the week on the united states record trade deficit but there's new news today that shows the trump trade war is continuing to harm other players official chinese to to six released earlier today show a steep twenty one percent drop twenty one percent in chinese exports for the month of february that's the sharpest drop in two years mr trump's national economic adviser larry kudlow speaking of the chinese said quote we have hurt them at the same time mr cupples scaled back the possibility for a summit between president trump and president g. jinping of china later this month who knows when that will happen and the endeavor talent agency has returned four hundred million dollars of capital to the sovereign wealth fund in saudi arabia in the wake of the murder of journalist and saudi critic jamal and devore led by reputed hollywood super agent ariel and man ul who
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only threw a party a year ago on the celebrating the kingdom who joined the blackstone group with billionaire group ahead richard branson goldman sachs and ober on the list of players who have abandoned talks or canceled agreements and investments from the saudi public investment fund or the p f the rejection of saudi capital is likely to reverberate in washington as well mint on reports of the return funds. and the new jobs numbers are out from the department of commerce bureau of labor just ticks and holy moly did they surprise almost everybody only twenty thousand jobs were created last month although the unemployment rate did drop to three point eight percent here discusses the managing partner at f.b.i. consulting both boris rashard and conservative commentator steve malzberg whelp and both of you steve i want to start with you this really is unexpected right i mean i was listening this morning to some of the commentators there. yeah one hundred
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eighty thousand to twenty two hundred and when twenty thousand came there or jaws all sort of drop at that number unexpected. very unexpected the consensus was one hundred eighty thousand and said they get twenty thousand which is the lowest number since september of two thousand and seventeen and this is coming off of december should say january with over three hundred thousand and december with over two hundred twenty thousand so to see that twenty thousand number there was kind of shocking but when you look into the report as well we're going to be doing here there are very good numbers and just some of the demographics for instance you have for overall for whites unemployment tick down for hispanics tick down to the lowest ever for them again and for men in general also ticked down the other demographics to slightly up or remain constant larry kudlow where you alluded to earlier the president's economic advisor called it a fluke many of calling it an aberration i should point out though when they say the weather so it's always cold and snowy in february and i don't know if you could
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use the weather based on those that fact i just gave you the good points boris i mean you know this was a big drop but even with only twenty thousand in february the three month moving average is still one eighty six hundred eighty six thousand and that includes by the way steve talked about december and january those numbers were both revised up by twelve thousand in total so boris how big a deal is this or is steve right that you know in the bigger scheme of things maybe there's not that huge thing i think this is something definitely to watch on the one hand it could be just a payback to the very strong number. for january and i agree with you that. the average is still pretty strong you know hundred eighty six thousand we're talking about the three months have or each so and clearly some of the factors could be just a temporary factors that lead to the. you know strong sharp decline and could
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explain the just twenty thousand but again you know it is definitely like the shutdown boris or other other things you're thinking of temporary factors like the shutdown or a temporary shut weather i think the weather and the bad weather that happened in favor of could could have had some impact on the number for the february and again if you look the weakness in the transportation for transportation that could be related also to you know that certainty that's related to the trade talks with china if you look at the construction you know the negative the decline of thirty one thousand in construction that could be related to you know the pretty bad weather in pretty bad either so i think there is quite a bit of you know temper factor that could have led. to the weak number for february but having said that again. this is sort of consistent with.
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you know the expectation of a slowing growth in the economy going forward i mean you know yesterday the federal reserve of new york basically they said that. it's a new it's a new sort of a paradigm so therefore it could be related to the slowing growth in the economy i would not say that there is a reason for panic again it's just one number and but on the other hand having said that definitely people and the financial markets and the fed will be watching to see you know what happens over the next couple of months and whether there is you know a downturn in the plumbing going forward and steve mentioned briefly a couple sectors but tell us about how those sectors did construction health care transportation yeah who are the winners when. saluted to construction down thirty one thousand jobs and again people are citing the weather i should point out that even with that loss there is still up in the last twelve months over two hundred
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twenty thousand jobs you also had retail down six thousand leisure and hospitality remained flat no gain no loss basically and then you had the professional business sector gaining forty one thousand jobs it had to be some positive news there that's lawyers and accountants and people of that ilk of those professions and you had education health care four thousand as was manufacturing four thousand i should point out by a back to the construction housing starts in january came out and it was up over eighteen percent when they had expected nine percent so that's maybe some good news when you look at the january housing starts way way up. thank you both so much i love to have you back every month when we do this stuff it's always interesting what a great discussion boris rashard and steve malzberg thank you guys have a great weekend thank you to bart thank you are.
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ok now it's time for our global weekly market wrap up or do i love this segment at the cruise all over the planet look at markets and we make a few pit stops along the way and we start as we like to start in russia at the moscow stock exchange the most was up just a very little after three down weeks and both china and the chiang high stock exchange and the japan nikkei two twenty five and tokyo were down this week pretty interesting they were up both of those were up for three weeks in a row and moving down to hong kong to hang saying it's down it's been going back and forth this year but it's two weeks down in a row in a programming note here if you're a regular bull buster you know we've been at the hong kong block change conference all week and it ended yesterday but we'll have more interviews from that that whole event next week coming up on the program i get actually gave the keynote there remotely of course i'm from the studio here in d.c. but if you're interested in that i think we're going to put it up on you tube you
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tube dot com slash boom bust our two you can check it out there and moving to australia three hundred as is the sensex in india two weeks in a row for both the a.s.x. and the sensex which reminds me by the way there's a reuters story today are not being caught it but just a few hours ago india's top financial crime fighting agency is reportedly investigating philip morris and its indian partner godfrey philips for violations of foreign investment laws for about nine years godfrey philips has made those marble cigarettes with those red labels for philip morris and some say that that. circumvented the ban on direct foreign investment in india we'll keep following that for you and moving south of the all shares in south africa down as is the cac forty and the dax in europe and interestingly you know put these up and you like say why is the footsie up well it's up like this but maybe not even that much seven
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point just barely there and that is of course about the continuing uncertainty about brecht and the news today that british prime minister theresa may says bracks it may never happen if member of parliament members of parliament in the house of commons don't support her deal for a vote next week and we'll be all over that and across the atlantic down to colombia to call cap off and like the footsie coal cap is just barely up a little i look at these numbers when we do this every week it is just barely squeaked out into positive territory and the best but down not significantly but down and then moving up to toronto stock exchange down as is the new york stock exchange and nasdaq didn't help that news we had today and only those twenty thousand jobs it's rather negative news too in the u.s. and time now for a quick break but hang here because when we return bill had a minute the kleinman center for energy policy helps us drill into the latest energy move plus commodity trader tina really joins us to talk about
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vulnerabilities in the tech sector she's a tech accountability crusader as we go to break here of the daily numbers from new york all eleven s. and p. sectors are down there all down in trading in the u.s. today. with gold make this manufacture consent to public will. when the running plus is protect themselves. with the claims. the merry go round lifts only the one percent. female i'm doing all middle of the room simulate. doing the rounds the real news is. the way.
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the little. go in and you may never get out so there's a. teenage gang rules here. to move. but. the navy will be very. nice seeing her. and now it's looking for the yeah. and melanie when somebody who. knew about the monkey the little musical i see.
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you know world a big part of the lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the bad and 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 for watching closely watching the hawks. welcome back us based urban transportation company bird is scooting into canada to new zealand and latin america the company has unveiled new details regarding the so-called bird platform a new ban. true that tweak their business model the company seems to be trying to
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make money off their logistical and technology promise by developing rentable scooters to other companies byrd will provide the scooters while independent operators will handle all in country operations with bird taking twenty percent of a cut from each rental charge a spokesperson for bird said that they will work with just one partner in each of the new regions of the world. and u.s. supermarket chain kroger is stumbling into the race to capture market share in the quickly shifting grocery sector the company disclosed their latest profit report that online sales increased by fifty eight percent in the fourth quarter incredible right but wait there's more that gain was not enough to offset the reported hundreds of millions of dollars the company has invested in adapting to a changing commercial environment kroger c.e.o. acknowledge they have their work cut out for them but traders they also agree with the company's stock falling by as much as ten percent on the news that said the company certainly does seem to be making an effort you may recall for ford that we
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did not long ago about kroger partnering with u.k. rick retailer ocado to develop very methods of reaching consumers and capturing markets in the post amazon landscape and established players have been on their toes to say the least since amazon's acquisition of upscale grocery chain here retailer cosco is upping its reputation as a labor friendly employer and catching up with a competitor by setting its minimum wage for all employees at fifteen dollars per hour the company seems to be in a mood to be generous after significantly topping expectations on quarterly profit reports competitor target has already committed to a fifteen dollar floor for wage earners amazon made a similar pledge last year though some workers complained that this simultaneous relocation of bonus incentives and stock grants resulted in a net cut in ploys wages arkansas based wal-mart is notably lags behind in the most recent adjustment to the company's minimum wage topping out at only eleven dollars
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per. and we now shift to talk energy and there's new news today about the permian basin in the u.s. it seems a shortage of pipeline space has created a bottleneck for oil coming from the permian but things may be changing soon in the u.s. gulf coast could see some increased exports to the world markets here discuss that and more is bill hederman he is of senior fellow at the university of pennsylvania's climate center for energy view two former government guys chatting i love bad too so what do you make of this story i mean a lot of this is said that you know permian was sort of tapped out as far as getting product out but are things changing yeah there's a lot of signs that the geology looks better and will work longer to majors chevron and exxon mobil have both announced in their wall street meetings in the last week or so that they have big plans for permian and exxon mobil as in the tradition is moving moving vertically and. going for production but they've got
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a partnership with all american pipeline to put a line at a million barrels per day so monster pipeline to get over to the coast when you look i love scary too but i love that picture the satellite picture you've seen it before at night of the per minute with a huge you know it looks like it's new york city in the middle of texas there in the southern part of texas rather by houston and san antonio crazy picture but with that you think oh they're doing all this work and they're going to gangbusters but the forecast as i recall are for the permian to sort of top out in the mid twenty twenty's and then start to decline is that still on the table or make people sort of shift their view i think that at least these two major oil companies have shifted their view that they the expectation is that they'll be still some growth through say twenty four. barnes and major unexpected already thinking oh that's
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interesting and you know you would not put in a pipeline for fifteen years. that's a life of a pipeline with proper maintenance easily forty years ok so a big investment like that you're not going to do it just till the mid two thousand and twenty is you know that you're going to get some production out of it it's going to pay for itself over and over again yeah i think so you know if it's not their oil if there are a lot of other people developing oil there and most independents have been stepping on the brakes a little in permian but this is a very contrary in position by the majors and that's going to be very interesting exxon mobil about ten years ago but there's shell expertise by acquiring next c.e.o. and so they have the same kind of chops in this is anyone else their big challenge is turning that battleship this may be unfair to ask you a bill but i mean what's the sort of balance between the independents and the big
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guys i know there's a lot of independents there but if you ever seen any statistics on sort of the breakdown roughly really have generally had the majority of the production in the majors have been focusing on the big overseas and deep water plays and this is a pretty significant change in their portfolio strategy and that's why we love having you i want to get to this last story before we get out another it's so great when you happen to be here for this day and then there's another great story in the news the largest sovereign investment fund in the world norway who would have thunk it good for norway a trillion dollars they're pouring they're pulling out of some of this investment in oil and gas exploration what's going on do you think ok so interestingly the norway sovereign fund is largely oil and gas money and this was the money that they from other major export so they own that oil. stadol changed its name about
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a year ago to ecuador so that was start of a signal that oil wasn't as cool in no way as it once was and. basically they're old production fields they're trying to use for carbon dioxide sequence ration it's another words they got the pipe they got the holes and now they're trying to pump c o two into them and that way to reduce the. c o two so they've been on the business side movie mean in a contrary and direction their move on the sovereign fund i think is it's like a we got a trillion dollars from oil maybe we should diversify our bets going forward and i think one is just kind of financial prudence eve diversify in and you know there is no way by pretty deeply into the. divestment concept and i noticed they weren't getting totally out there just getting out of the
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exploration they're going to hold on to some of the big companies where they were out of time but thank you so much bill hederman thank you have a great are great we could thank you. and we now want to talk text with someone who has sort of been a tech crusader for accountability among these big tech firms where most please sir i'm so glad that you're here and able to talk with us there's a heck of a lot of going on with tech for the last year and a lot of the wealth it's pretty bad right we've seen tech c.e.o.'s hauled before parliament in the u.k. and before the u.s. congress and we're sort of at a key period it seems i mean they don't want to reputation like the banks have do they. they are down and they're headed that way this is we are the real turning point with data breaches privacy issues harassment something called a idee fixe this is the moment when technology companies can step up and take
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accountability so far they have not done that it's been a lot of lip service but if you've been following the news recently the u.k. parliament called facebook digital gangsters for the way that they use privacy. the privacy breaches the way they're using our information and the way they spread misinformation so it's really a key time to see what's going to happen with these technology companies it's sort of scary i mean to think that they have all this information about us that they use it i mean we know that it's getting out there but the way they use it is just scary and we don't know and it just it's inundating you know people just can't keep track of it all and so you know i appreciate people like you speaking out and i wanted to ask you specifically about one area about hate speech and the spread of misinformation on some of these tech platforms not just in elections but just in general are just so much bogus stuff out there tell us about you what you mentioned
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to me also that the deep fakes talk about both of those. sure so the harassment and hate speech is puller for aiding and it's actually affecting more and more users all the time this year alone by the end of twenty nineteen forty percent of users will have been affected by a hate speech or harassment or misinformation either someone either yourself or someone you know and this is a real problem i mean it cuts deep into people's lives i myself experienced online harassment and it shut down my career for a while and there's nothing you can do about it the technology companies have this immunity from really addressing it there's something called section two thirty of the u.s. code whereby platforms don't have to be responsible for what's written on their platforms now there is some talk that that might actually change which is also why
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some of the technology companies are sitting up and taking notice and saying you know we really have to pay attention to harassment and what's going on and hate speech and also privacy issues and you asked about the deep deep aches are something that's come on line recently we first see it only getting worse a video on a photograph and it looks real and you can make that person do whatever you want this is scary i mean all of. our picture now are they need our name and they can create harassment it doesn't have to be true there's no there's just no regulation around what's going meet me there is not much that consumers can do or what should the tech companies do to you know we've only got about a minute but what should they do do you think. sure so the time that companies really need to create some sort of ethics standard and then to hold themselves accountable to that standard they need to decide ok what are we going to see as harassment and then really stick to that standard and do something about it and
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also as people we need to the general public needs to put pressure on the to create those standards and really up hold those standards i couldn't agree with you more and we try to play our part and having somebody like you on the program to keep talking about a teetering commodity trader and tech accountability crusader that's the informal title i thank you so much tina great to see you think i could be in on the program thanks part three. and that's it for this time what a fascinating conversation that was thanks for being with us you can always catch on you tube dot com slash boom bust archie and we hope you all have a great week and we'll see you next time next week so long for now.
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it will be all. to. well. there are no. sleep. yet will this is how the people who. do. not at most of the trade. laborous than those environments than that's in the original enough that didn't think but now the relation is very very close intertwined so i think it's ok to have
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a new treaty and you negotiation. what politicians to do something to. put themselves on the line and they did accept the reject. so when you want to be president. or something i want to press. it to the right to the press that's what the forty three of them or can't be good. i'm interested always in the water as in the house. i sit. during the great depression which i'm old enough to remember there was and most of my family were unemployed working class and it wasn't it was bed you know much worse subjectively than today but there was an expectation that things are going to get better. of there was a real sense of hopefulness there isn't today today's america was shaped by the ten principles of concentration of wealth and power. reduced democracy
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attack solo doubt engineer elections manufacture consent and other principles according to no i'm chums to one set of rules for the rich opposite several so. that's what happens when you put her into the hands of a narrow sector of will switch will is dedicated to increasing power for itself just as you'd expect one of the most influential intellectuals of our time speaks about the modern civilization of america. this is a. from the water bottle found in the stomach of the fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there are the litter bugs are
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throwing this away industry should be blamed for all of this waste the company has long promised to reuse the plastic. funding. on the. phone now the mountains of moist only grow higher. than. the.
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rival protesters are out on the streets of the venezuelan capital caracas following one of the worst nationwide blackouts seen here is. an act of provocation that's russia's foreign ministry has run that incident which for a u.s. embassy staff member in russia tried to take a mortar shell through an airport in moscow. u.s. house of representatives passes a bill to counter the influence of so-called dog money from unknown donors in the election process. should be happening and it's a deeply complicated flaw of the united states to stand to lose you know it's legal .
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