tv Boom Bust RT March 20, 2019 9:30am-10:01am EDT
well substantially the same proposition as that suv last week which was rejected by one hundred four. 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 the saga of teresa mayes brecht that deal hits more road blocks to work forward to c.e.o. of straw 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
tavenner tells us what it may mean and later china is putting its foot down on synthetic prissie i have counterpart actually 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 bratton negotiator michel by and you 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 for being here as all so i when i was looking at this debate it started happening late last night i was watching it and then so. 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 for parliamentary procedure that you can't revoke on something that was substantially whatever that means voted on before 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 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 archangel from sixteen zero four and it was referenced an eight hundred forty four by crime a who wrote a thousand pages trio relation there are no no no no you very good point he wrote this on this sort of this arcane law what it says is there has to be a substantive change before those in parliament would vote again if you think about
it it's actually rather sensible because why waste everybody's time if we're going to 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 task and all the rest of them we have some sort of change some sort of update i think was also very interesting to know is the uncle of muchel is doing all she possibly can and we talked about this only a very much alia bhatt because you asked me about on germany and the interest in europe you know we mention many times as one in seven german cars is export into the u.k. german manufacturers the white good. and all of the cars b.m.w.
mercedes and the rest of them they are all extremely desperate to make sure that 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 they can't read boat on it got that they can't doesn't it has to have subsequent meeting but i mean but i can't i mean it but it was killed but like i said i just killed so there's no little thing that could be done right now it's not like you have one thing for hillary ford which and all of a sudden it's a done deal writing that anyway now 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 entering history so this is not something that's very close it's not like she can chop to a few people and get some changes do you pay 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 bought and that's the issue and meanwhile we'll 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've been on panels with them in these is a very stern guy and they made a hard go shater south or what have you back to talk about what may happen is the dazed went all down hill reported c.e.o. mark pleasure thank you. and those calling max eight jacks continued to be in the news hear what boeing c.e.o. dennis small and bird had to say related to the investigations. were 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 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 at 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 sure 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 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 if the congress to give them the funds to duplicate everything that boeing has but they their main job is to oversee their oversight of boeing and making sure that they are their numbers are correct in that they're 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. it's the summer with the. the southwest. accident since two thousand and.
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. 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 what investigates it cannot enforce regulate and so forth f.a.a. is the regulator and what they do and do not do and as far as following the advice and consent and counsel of the from the investigations from the n.t.s.b. it's balls on them so you know it. but they always 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 you 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 the five year we had the 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 a tumble look at it was so great for air bus they announced earlier they were going to pull that their plan that created out so i mean what do you make of the company's 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 a lot of defense aircraft. this is not. this is not the original boeing to somebody but complains miss 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 scary it's interesting boeing had air bus with it where they wanted them they had them on the ropes. after they had to now it's the a three eighty and close 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 l.
now everything that they air they put back into airbus but jamie finch former n.t.s.b. director thank you so much shame appreciate you having 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 the neuros links to the suspects in the assassination of after a brazilian l g b t in feminist leader marielle franco 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 pose a threat to those who defend tyranny and somewhat less controversial news it was announced ahead of the ball scenario meeting today that brazil has eliminated a diesel requirement for visitors from the u.s. australia 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 his 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
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 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's deafening up to regulate fin tech and block chaining cryptocurrency is a ball kristie i have counterpart x. 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. with
this manufactured consent instinctive public will. when the right wing closest to protect themselves. with the flaming. lips and the no one person. to ignore middle of the room signals. the real news is really. 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 are true the rich and privileged can find access to
their kids at the expense of families who are hard working and don't use the idea of marriage to get. through all of. it's. been a real good shots few begin murders controls all life. becomes our last community young people are deciding if they want to not like their parents not like the liberals. it's always drugs school again you always have problems but you are going to focus a lot it's the most ubiquitous going on out there most police departments use it almost over stores in the school they could get their hands on economies in twenty four hours. she chose to. racism police
brutality taking pride and there are these kids are. 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 with the fabled big three u.s. automakers federal prosecutors on monday charged norwood julie former vice president of the store 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 a worker training fund were redirected to fund travel and food for you a w. employees including mr jewel who led the u.a.w.
bargaining team with 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 other 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 two thousand and twenty olympic games to tokyo the jail siege president. head of the committee for tokyo's bid said he will leave the j.-o. sea in june despite this mystery to kata still denies any culpability in the scandal. well i have nothing anything like continue to do my best.
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 kock. 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 zulu natal problem on suspicion of involvement in the murder the murder of an anti-corruption crusader and the lake he endo pay is behind bars as is one of his deputies mr and doby is a suspect in the twenty seven thousand killing a well known whistleblower blower cyndi's so macaco who campaigned against local corruption the case could represent
a test of sorts for south african president cyro ramaphosa who has resisted calls to provide security to self 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 has to the polls for 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 prices we hand things over to our producer. barge this big. with russia and
a few other opec members in bulk who are his adversion to your view have 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 put cuts so do you a beer shouldering forty percent of the opec burden and 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 at three hundred eighty thousand barrels per day 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 bread or oil prices by twenty five percent saudi energy minister. 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 as head of 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 drawing criticism from saudi arabia for making slow progress towards. argot 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 there are twenty one thousand at connery and a forty dollar crude price events in baku certainly don't signal 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 fin tech in a more fulsome fashion this comes after various fits and starts in china and it comes after other regulators around the world have been scrambling to find their way or not with the evolution of blog chain and 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 recent francisco last time we had you know it was and also 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. common 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 blog in fact yes i think two thousand and nineteen we're going to see a lot more regulation because people are starting to realize that block and kept a currency isn't a fad and it's actually here to stay so in particular right now you see canada mexico and israel making moves in order to try to attempt to regulate this in canada. canadian securities administrators 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 hotbed for startups and crypto currencies there in fact home to over two hundred cryptocurrency and block chain startups there are already so their focus right now is how to promote i c e o's in a very transparent ways so they recently just submit a proposal that they've been working on since two thousand and seventeen in order to stipulate what disclosures need to be made what regulation should we put around i suppose 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 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 weren't 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 a currency. for when china bans. i think it's not because they don't like it like
google and facebook they did it and because they don't understand it and they want to try to figure out a way to regulate it so when the p.p.o. c. and china band 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 out all year last year and in doing so they were able to see the 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 best risk mitigate these technologies and by doing so they gained 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 problem girl is going to add to it a kristie i have counterpart x. thank you kristie what a pleasure to be with you always. and that's it for this time thank you for being
with us your guess boom bust on direct t.v. channel three twenty one dish network channel two a b. or streaming twenty four seven on pluto t.v. that's a free t.v. of course channel one thirty two was always hit us up at youtube dot com boom bust our to see you next time. you shout out to get up on soldier i. honestly i'd love to turn up there's one of. them so. not just that it. was meant and how much that the who committed
the passage says they were or isn't and never was never posed and. the wealthy in america decided we're up playing anymore we're going to just grab as much as we can of the cash out there in the system and put it in offshore and that's why there's not twenty two trillion offshore and so there you battle of credit in a system shrunk the central bank instead of punishing the banks just flooded the system with more of the fia money and then those who are the paranoid have yachts versus the have nots decided you know we're going to put that more offshore so they just keep trying and shipping it off shore and it's completely bypassing the economy and so the economy is getting more starved for credit and the people are getting more restless. during the great depression which are old
enough to remember that it was most of the family were working. there wasn't it was bit you know much worse objectively. but there was an expectation of the things were going to get better. there was a real sense of hope. there isn't today today's america where shape my the ten principles of concentration of wealth and power. reduced democracy at tax solo do. engineer elections manufacture consent and other principles according to no on. one set of rules for the rich. that's what happens when you put her into the. roof will switch who is dedicated to increasing virtue of just as you'd expect one of the. most into one
show intellectuals of our time speaks about the modern civilization of america. scrapping treaties and weaponize ing space moscow warns against spiraling into a new arms race in the twenty first century. also ahead controversy grows over his family's allege intelligence to our ability brazil's president travels to washington in an effort to jumpstart relations with the u.s. . and opponents of american drone operations in yemen when a small but potentially far reaching legal victory in germany. is ordered increased oversight. coordinates for.