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tv   Boom Bust  RT  March 20, 2019 12:30am-1:00am EDT

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taking pride and they are these kids are a part to. play . if the government wishes to bring forward a new proposition that he's neither the say nor substantially the same as that disposed of by the house on the twelfth of march this would be entirely in order. won't the government camel the just some of the do these to resubmit to the house the same proposition will substantially the same proposition as last of last week which was rejected by one hundred forty nine.
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and just like that brecht talks are back to the drawing board yet again with the days to the deadline day when dealing down this is boom bust broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm bart chilton in washington d.c. we're so pleased that you're on board coming up today time is ticking down near the thames river as this saga of teresa mayes brecht that deal hits more roadblocks to work forward to see drug markets standing by with the latest plus those boeing had too much to weigh on the f.a.a. former national transportation safety board official jamie finch will be here i'll ask him if boeing's relationship with regulators is a little too cozy plus opec has russia are continuing their production quotas and abstraction opec meeting to even discuss the circumstances are key producers sire
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tavenner tells us what it may mean and later china is putting its foot down on synthetic kristie i have counterpart x. joins us to take a peek at the people's bank new plan all that directly ahead but first let's get some headlines let's go. not long ago the european union's chief bracks a negotiator michele bunya a warm british prime minister theresa may that the e.u. may not approve a delay of brecht's it the only way mr brown yeah it says the who would consider an extension is if there was something new for the you meanwhile the members of parliament say they won't read boat on this maze proposal which was previously pummeled here to give us the latest as a c.e.o. marks for hillary thank you. being here is all asia so what i was looking at this debate is happening late last night i was watching it and then some of it today we played the clip clip at the beginning of the show i almost wonder why are they even debating this like sixteen zero four parliamentary procedure that you can't revoke
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on something that was substantially whatever that means voted on bush for one is that the case into why does it even matter i mean we got killed right so john berkow is the speaker of the house now he is unlike in america this is actually somebody who's supposed to be impartial right actually interesting to know though he was a remainer and is known to be or may not but he has raised this somewhat arcane law one could say i mean this was a couple of years before anyone landed in america and this was about the era of guy fawkes you know so this is an arcane law from sixteen zero four and it was referenced an eight hundred forty four by a who wrote a one thousand pages tree no relation there are no no no no you very good point he wrote history on this sort of this arcane law what it says is there has to be a substantive change before those impala would vote again if you think about it it's actually rather sensible because why waste everybody's time if we're going to
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have exactly the same proposition. reminds me of the republicans back when obama was there they voted whatever one hundred ninety eight times to repeal obamacare it never happened of course passed the house but it was a waste of time so right i get your point yes i mean it is sensible i think it is sensible however i think that this is part of the delay tactic basically we preventing this it does force mase hand though she has got now going to go back to brussels on thursday to yet again request from tosk and all the rest of them that we have some sort of change some sort of update i think what's also very interesting to know is that uncle of muchel is doing all she possibly can and we talked about this only a very much ali about because you asked me about. many of the interest in europe you know mention many times as one in seven german cars is export into the u.k. german manufacturers the white goods and all of the cars b.m.w. mercedes and the rest of them they are all extremely desperate to make sure that
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that is a smooth transition and there is a crash out of the e.u. just ten days from now so two things will go back just briefly on the if they can't read both on got that they do not think it has to have substituted meaning a but i mean but i can't i mean it but it was killed but like i said i'm just killed so there's no little thing that could be done right it's not like you have one thing for hillary for which and all of a sudden it's a done deal writing that anyway and remember the second time that it was voted down it was by one of the largest margins of one hundred forty nine votes in palm entry history so this is not something that's very close it's not like she could try to a few people and get some changes of the d d u p all ten of them would need to come along she needs something like between fifty and seventy to change their minds so it has to be substantive for two reasons one he's not letting it go through and two she wouldn't get the votes anyway bart and that's the issue and meanwhile we'll
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have to see what the e.u. does i'm a show by a by the way used to be the head of financial regulation so i met him a few years i am that on panels with the mini's is a very stern guy and they did a hard go shoot or south or what have you back to talk about what may happen as the days when all down here were reported ceo's draw more pleasure thank you. and those calling max eight jacks continued to be in the news hear what bowling c.e.o. dennis small and byrd had to say related to the investigations. we're united with our airline customers international regulators and government authorities in our efforts to support the most recent investigation understand the facts of what happened and help prevent future tragedies. but today we look deeper into the deadly debacle which is being highlighted by those two unprecedented fatal boeing
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max eight jets crashes that killed all passengers two crashes within five months oh my gosh to help us out we are joined by a former director of the u.s. national transportation safety board jamie finch jamie welcome we're glad to have you in the same time zone once you joined us from manila a couple of times and we appreciate that so. the f.a.a. not your old agency but a sister agency federal aviation administration here in the u.s. has been criticized a lot in the last several days for really two things one and this may not be their fault of course congress approves the money but that they don't have the staffing to actually do the due diligence the work and the approvals for a lot of these airlines manufacturers and therefore they rely on the airline manufacturers like boeing to do a lot more than they perhaps should given there is an inherent conflict of interest is that ring true to you at all well i mean that's been the one of the problems
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with this plane this program that they've had it's very delicate i mean it works perfectly as long as the integrity is maintained unfortunately the integrity has been compromised and so when we when that's been compromised it's almost like a house of cards it all starts falling down this thing is going to go on for months if not to have it in the year this is the f.a.a. does is to does not have the capability or not given given the funds it would be feasible really for the government for the congress to give them the funds to duplicate everything that boeing has but they their main job is to over. is there oversight of boeing in making sure that their their numbers are correct in that they are doing that correctly so i don't think that you know we just went through a period where we had not had a plane a fatal crash in the u.s. as you know last summer with the southwest. accident since two thousand and nine
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you know we get complacent so do you think that there is a too cozy relationship either with the f.a.a. or you're you're you're not to blame you're not there anymore or even the n.t.s.b. well quite honestly it's these have been quick questions and concerns that the n.t.s.b. has had before in the past. and the n.t.s.b. has one stock in trade and that's his reputation into this be only right investigates it cannot enforce regulate and so forth f.a.a. is the regulator and what they do and do not do as far as following the advice and consent and callus all of the from the investigations from the in to speed it falls on them so you know it. but bill when this is going to fall on everybody even if they're innocent like the n.t.s.b. and so forth everybody's going to be tainted on this i want to look real quick jamie for we go at boeing stock because even last year they did a pretty good job on their stock it surprised me when we were into october if you
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could see here is the one year there in october they didn't take a big drop there which was surprising and if you look at a five year we have a five year guys on boeing because that's a stock you want to invest in that except pretty good good deal i mean given that boeing and their major competition air bus and let's pull up the air bus one year two by the way if we have to have that that air bus they start to take it a tumble look at douglas' so great for air bus they announced earlier they. we're going to pull that airplane that created out so i mean what do you make of the companies air bus and bowling today well you have to eight hundred pound gorillas and specially the boeing has become an eight hundred pound gorilla it has a lot of weight around the cell and because it's not just a commercial aircraft company it may have many factors
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a lot of defense aircraft. this is not. this is not the original boeing to somebody but complains the mr boeing family. this is a huge huge company that has a huge impact on our economy so. so largest export i guess i mean all those companies the largest u.s. export of anything and this is not just the one company it cascades through the entire economy you know and so this is really really scared it's interesting boeing had air bus with it where they wanted them they had them on the ropes. after they had to announce the a three eighty and closing shutting that down they really did have them on the ropes and they've been winning the seven eight seven competition with a three fifty there was a three fifty and they they were they were really i was wonder if they were going to absorb airbus quite honestly and tell now everything that's dangerous they put
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your life back into airbus jamie finch former n.t.s.b. director thank you so much amy appreciate you haven't as always. present hardball scenarios in washington this week for meetings with president donald trump mr ball scenario is clearly intent on playing up the similarities as means of an ingratiating himself to mr trump he was interviewed on fox television earlier today mr boston area however went on air shortly after journalist glenn greenwald cited the growing scandal around mr balls and arrows links to the suspects in the assassination of after a brazilian l g b t in feminist leader marielle frank. the juxtaposition made it impossible for fox to avoid posing questions on the explosive scandal to mr balls to narrow the brazilian president also alluded to a shared agenda with mr trump in venezuela writing on twitter quote brazil and the us post a threat to those who defend tyranny and somewhat less controversial news it was
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announced ahead of the ball scenario meeting today that brazil is canada and japan however as an unfortunate sign for brazilians the u.s. has no known plans to reciprocate. and as president also narrow is making its first foreign far as the head of brazil the nation's premier market index set a record on monday the ibo best but shattered its previous highs and managed to surpass one hundred thousand points in trading at the end of the day a trend that has been keeping steady today as it continues to approach one hundred one thousand points to get that jump there isn't it's pretty crazy that you've see that things just sense the the thirtieth thirteenth if you're a regular boom bust or you certainly heard us hit on i will best hot streak over the past few months driven mostly by president formerly candidate balsa merrill's pro-business agenda and rhetoric so check this out if you look back into october that's when he was elected there and that's when it really started to take off and
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if you go all the way until you see december in january when he was actually in january is when he was actually inaugurated put into power sworn into office really shot up that's a great looking stock index chart on the eyeball vest but we'll talk more about that later and time now for a quick break but hang here because when we return opec and russia are continuing their production quotas and scratch an opec meeting to even discuss the circumstances r t producer saya tavenner tells us what it may mean plus china is deafening up to regulate syntax and block chaining cryptocurrency is a ball christiane of counterparts. joins us to discuss as we go to break here the daily numbers from new york at the closing bell we'll be back in a flash. i'm
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. going at that period carol time. after the previous stage of my career was over everyone wondered what i was going to do next the ball different clubs on one hand it is logical to say that the home fields where everything is familiar on the other i wanted a new challenge and the fresh perspective i'm used to surprising people and i saw
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one on t.v. . i'm going to talk about football not the or else you can think i was going to the. by the way what is the fly here. welcome back there is corruption news to report an organized later labor this time involving a union set to represent one hundred fifty thousand workers in upcoming contract talks. at the fabled big three u.s. automakers federal prosecutors on monday charged norwood julie former vice president of the story united auto workers with violating the labor relations management act by accepting inducements worth more than forty thousand dollars from executives at chrysler prosecutors allege that funds intended for
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a worker training fund were redirected to fund travel and food for u.a.w. employees including mr jewel who led the u.a.w. bargaining team with for most of the recent contract negotiations and twenty fifteen prosecutors previously accused former u.a.w. president dennis williams of involvement in the scheme but have not yet charged him leading some to speculate that mr williams perhaps may be cooperating with prosecutors the u.a.w. will begin talks on new contract with chrysler ford and general motors this summer . and another corruption news the president of the japanese a lympics committee or j o c has said he will step down after he was accused of involvement in bribes allegedly paid to members of the international olympic committee as part of a successful campaign in two thousand and thirteen to lure the twenty twenty olympic games to tokyo the jail see president. headed the committee for tokyo's bid said he will leave the j.-o. sea in june despite this mr to cut
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a deal denies any culpability in the scandal. even though i have nothing anything i would continue to do my best to make. and french officials questions mr shikata on the matter in december of last year reportedly suspect that jail c. members conspired to direct two million dollars in illicit payments toward the son of disgraced president of the international association of athletics federations limine de och. and south africa may have the most dramatic corruption news and today's round up it's a big choice there prosecutors have arrested a mayor and powerbroker within the ruling african. national congress or a n c's party organized by qual nato problem on suspicion of involvement in the murder of the murder of an anti-corruption crusader and the laiki endo bay is behind bars as is one of his deputies mr and doby is a suspect in the twenty seven thousand killing a well known whistle blower blower cyndi's so macaco who campaigned against local
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corruption the case could represent a test of sorts for south african president so i will ramaphosa who has resisted calls to provide security just described whistleblowers who cooperated with mr murdoch while the news of progress on the case may also have some relation to the fact that south africa is to the polls for a national elections on may eighth. as we covered last time on the broadcast opec has cancelled a scheduled meeting that's a really rare thing but it seems perhaps there's no need for the circuit given the circumstances what is certain is that the oil prices have been climbing after a significant dip before the end of twenty eight teen with brant crude you can see it there on the chart trading in london city at around sixty five dollars a barrel in trading today to help us drill deeper into what's causing the shift in
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prices we hand things over to our producer. barge this big saudi here damages russia and a few other opec and monolithic members in buckaroo eyes add on to our view had a twenty four nation coalition is complying with the december agreement to get hold one point two million barrels a day from the global oil markets the december deal had two main leaders saudi arabia and russia at least in terms of volume terms of the group of countries that are in agreement for the production deal they greet to take the biggest share of each group's pledge output cuts saudi arabia shouldering forty percent of the opec burden. in russia assuming sixty percent of the opec contribution cut to date russia had agreed to cut about two hundred thousand barrels per day but actually currently there are one hundred forty thousand perils per day cuts now a saudi arabia on the other hand have agreed to cut four hundred thousand barrels per day and they're very close to three hundred eighty thousand barrels per day
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they are put cuts were meant to boost oil prices mainly due to continue supplies from iran and venezuela spied us sanctions which has so far raised brand oil prices by twenty five percent saudi energy minister has told reporters at the meeting this week the fact of the matter is that iran and venezuela have not declined quickly enough to the point where we're still are seeing in victoria builds saudi arabia last year followed president trump's request to increase their oil production and had a renewed u.s. sanctions against iran is petroleum sector which went into effect in a member fourth of last year bar riyadh was caught off guard by a sudden announcement of aid waiver exempting key importers like china india and turkey meanwhile venezuela is diverting oil normally destined for the us instead now to russia but moscow is now showing less enthusiasm to increase production cuts
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drawing criticism from saudi arabia for making slow progress towards a target there was an april meeting planned to assess further production cuts but now the meeting has been cancelled and only current production targets are in place and the cancellation is the latest number of disagreements between saudi arabia and russia you see saudi arabia needs its oil to sell about four ninety five dollars a barrel to cover government spending this year in a country that relies mostly entirely on petroleum russia on the other hand has a more diverse business base and therefore can budget their twenty one thousand and three on a forty dollars crude price events in baku sir. early dawn signaled the end of the saudi russia partnership but there are a lot of certainties right now and everyone in the group is buying time. and we think yesterday we noted that china is ramping up to regulate finta more fulsome fashion this comes after various fits and starts in china and it comes after other
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regulators around the world have been scrambling to find their way or not with the evolution of a blog chain in crypto currencies here talk about what it all means of the co-founder of counterpart x. our friend christy i welcome christie good to see you back here we saw you francisco last time we had you know it was ok well we're so happy to have you in studio it's always always better so. let's talk about first of all sort of set the stage we had a bit coin you know jump on of the c. comment with watching two thousand and nine and then regulators are really wondering what to do one regulator said we should regulate them but by and large regulators didn't know what to do since that time were bred the leaders come out whether or not they should regulate blogs in yes i think two thousand and nineteen we're going to see a lot more regulation because people are starting to realize that block can encrypt a currency isn't a fad and it's actually here to stay so in particular right now you see canada
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mexico and israel making moves in order to try to attempt to regulate this in canada the canadian securities administrator is actually still reeling from the quadriga scandal after losing one hundred forty five million on their exchanges so right now they're actually making a very heavy play into how to protect investors and how to regulate trading exchanges that's pretty much their main focus right now and in israel israel has always been the. spores start ups and cryptocurrency there in fact home to over two hundred cryptocurrency and block chain start ups they're already so their focus right now is how to promote i.c.a.o. is in a very transparent ways so they recently just submit a proposal that they've been working on some. two thousand and seventeen in order to stipulate what disclosures need to be made what regulations should we put around i.c.'s and how do we how do we prevent fraud and money laundering in these i.c.'s and similarly in mexico as well right now in mexico you have a huge population half of the population one hundred thirty million people are
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actually banked so these people right now are finding alternative ways to send remittances right now they're relying on crypto currency and other money transfer networks so now that these money transfer networks and crypto currency has become such an integral and crucial part of the mexican economy the government is trying to figure out how to actually regulate and establish some guidelines and control around this industry without so much as disrupting too much you know very interesting thank you for that. better than just setting the stage but let's get to china you know there are places china south korea russia that are all sort of band cryptocurrency for at least a short period of time and we talked about this in the program before perhaps they were doing it because they were scared they want to do it to catch up and get ahead with china you know the second largest economy in the world getting into kryptos that may put even more pressure on nations like you're talking about but others around the world maybe even the u.s. to do something to regulate friend yes absolutely so china did bankrupt
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a currency. for when china banned something it's not because they don't like it like google and facebook they did it and because they didn't understand it and they want to try to figure out a way to regulate it so when the people go see and china banned cryptocurrency as they actually turn around and created the digital currency research lab in china and this research the goal was to create technologies and actually put them implement them in real life scenarios across multiple cities in china so they did all year last year and in doing so they were able to see consumer behavior is and how people reacted when these technologies were placed in their hands and by observing it they figured out how to best control of these new technologies how to . risk mitigate these technologies and by doing so they gain tremendous insight on how to regulate them efficiently and effectively i want to have you back because we were talking before we went on air about how the f.c.c. is going to be holding a hearing on this so a lot's going on there is more pressure china certainly they don't really is going to add to it kristie i have counterpart x.
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thank you kristie what a pleasure to be with you always. and that's it for this time thank you for being with us you can catch boom bust on direct t.v. channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. that's a free t.v. of course channel one thirty two or as always hit us up at youtube dot com. are to see the next time. most of us are content believe we live in a society based on merit and equal justice the varsity blues college admissions scandal conformist that both aren't true the rich and privileged can buy access for their kids at the expense of families who are hard working and don't is the idea of marriage yet. they
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want. to get off on a soldier that i. honestly had left and i thought this was one of. the torture. of the bush. years i'm saying not just every second or how you have risen and how much that you have committed the passage therefore is not and never was. i don't understand when it. comes to. six guys or financial survival. when customers go by you reduce the price. to now well reduce and lower. that's undercutting well what's good for market it's not
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good for the global economy. oh oh oh it's great you know. we've been a real good shot to begin mergers controls all life. becomes our last community young people are deciding if they want to not like their parents not like the liberals. the blacks are always drug school again you always have problems but you are going to focus a lot is the most ubiquitous going out there most police departments use it almost over stores in the schools that they could get their hands on tunnels in twenty four hours. through it teaching these kids both racism about police brutality taking cried of them being all these kids are
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a part of all history. the lead lines this morning brazil's president faces a political scandal after reports of much about his ties to violent paramilitary gangs in the country. germany's accountable for the deadly drone strikes in yemen directed and controlled from a us base on german soil in a court case one by the families of victims. and scientists dismiss us democratic party claims it was only twelve years left to save earth from global warming. good morning bill malcolm the program just today it's am in moscow this wednesday the twenty third.

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