hardy's true story they're coming to a manhattan street corner near you only that is if you're a member interesting it's all coming up and it all starts right now. our lead story today the biggest internet acquisition of the past decade true story now the world's largest social media network facebook dot com has agreed to purchase the mobile messaging start up what's up for nineteen billion dollars in stock and cash now facebook shares they took a considerable dip following the announcement and as of thursday afternoon the social network paid an additional one point five billion dollars in market value

for the company likely because facebook said it will pay for part of the deal with stock and current shareholders will see there will be diluted by roughly eight percent what you want i think we all learned that from the facebook movie social network but people who are not diluted by this deal that those are the fifty five current employees of what's up now not diluted at all now if you break down the numbers the facebook deal it works out to roughly three hundred forty five million dollars per what's out employee now you could also look at it as forty two dollars per what's out user which is likely all facebook is viewing the deal as there are forty five million forty five million what's app users now the deal values what's up higher than all of the two hundred seventy five companies listed on the s. and p. five hundred index yeah so pretty high so how did mark zuckerberg come up with this one thousand billion dollars price tag for this acquisition which is a staggering amount of money even for facebook. actually when you consider the fact

that what's made only twenty million dollars in revenue last year well what's up is the fastest growing company in history in terms of users and the user the usage of the app itself that's also mind boggling three hundred fifteen million people use the app every single day wow and given its low cost of operation if the company's growth trajectory continues it could easily be pulling in more than one billion dollars a year in revenue so is this deal so absurd or is it just bold only time will tell but we'll keep you posted on what's up next. petter i receive management as an independent independent financial research and media company now keith mccullough is the chief executive officer of hedge i and a former portfolio manager at carlyle group now mccullough is known for attacking

the traditional wall street system and for disrupting the old financial media model via twitter mostly now mccullough joined me earlier to discuss his company and the current state of the global economy as well as the u.s. economy and i started off by asking him how does the hedge fund world really work take a look. like a always right and right. i get it i feel like we're right into their own business it was really kind of coming out of the late ninety's that worked on that was that the time to call the house and say would which ultimately became like i made it and i went on my own way to start my own fund back then when there was many to say and the reality was that backpage funds used in general generate a lot of talent and generate a lot of began to help and now you get today that order you know walked a few years later and where you were probably oversupplied it well and yet right now and out in hedge funds out there that are really wants to chase that are short term well and so what we've seen now is really going away i guess that they were

just between i'd say the top one percent it funds and away at the top twenty percent of being probably the types of arms and prophecies that what we did way back when it was there were the most recent retail sales numbers for the u.s. they showed a decrease in retail sales are you concerned about the u.s. economy slowing down finally good i've been waiting to go away. so you guys your boy i grew up in where really it's the same i haven't changed the process obviously and where will i be as far as a wake up and saying hey what the market should go down because we're going to have a bear market always go down you know the two things that i don't like to see from a growth and inflation perspective i've come forward so i've been placed in writing and growth slowing because one perpetuates the other so the worst you know if you add a policy to your currency or to put money in and we're stuck with that i'll tell you ok or believe your currency and your country goes down inflation in terms of what

you are in terms of what you're buying and what you need in your life starts to go up and if that goes up you know you're starting to see a low real consumption growth pattern that we had last year and a much more deflationary environment for things like commodities start as well so i guess i'm really concerned about that retail sales your point i just one of the many things that we're seeing in terms of the consumption side of the economy but it's probably slowing as opposed to accelerate what you did really were about fifteen months now the yield for the ten year u.s. treasury bond it's now consistently below two point eight percent that's down from three percent when everything looks to gloria's do you think the bond market is signaling worries about u.s. growth. that way anyway if you will you will get a kind of backyard of the white noise that you are kind of in terms of the financial media every day and if you for all we say are probably better to talk about this in your years of the ten year bond yield if you just look at it in terms of its three to six month moves as track i was precisely the slower growth again

it's the way to change that when you do that salutes like the government would like to talk about her traditional economists would like to talk about a ten year bond yield doesn't care i played anymore they care about the girl replacing because the best zero percent bed early on in fighting inflation so what we're seeing here is very simple i mean last year when g.d.p. growth excelente of well point one two percent in the third quarter you saw not surprisingly that i as level of the ten year bond yield that we've seen. and quite a lot of time and that's one bloke who said it's really a sequential beat since then it's come back like he did the days of points and we did a bit then your body will most likely to go all over the base it goes on because again the buy yield is trading on both expectations for that anything else now a follow up to that i want to ask you what sectors of the economy do you think are most affected by the slowing in the economy. well regulated yes and i think that's a really important point to get our nose out of the textbooks and you know the

quinnipiac thing and i did the yelp they had a great c.e.o. if you go back and he goes textbook they would tell you hey well you know if you get a weak dollar you get up exports and the economy starts excel all right so what we need to do is it is we have a currency i don't tell you is it that doesn't hold true over the course of the last two hundred years at least the economic history which would tell you that as a currency wheat is you start to see inflation and you see inflation you can see wallow playing by the way and you can get on a gold you can be long i copied it here you can be a logical dad you can be wrong slow that it's like you kill all your bonds but again you should get the wiring stock market at all and with growth expectations right there conspire within the stock market that can go up when inflation through i mean steady growth and that is our position ok i know i ask you is this just a statistical a fact you know kind of reporting the inflation as what i'm trying to say you know is it easier year over year comparison due to a slowing in inflation last year or is this a real breakout in terms of inflation right i mean for the place and you know you

know first thing you've got to do it but if i wouldn't wait there's a lemonade and he i mean the definition of inflation that the government gives you already began your keynesian economic textbook so i think that obviously changed this in the best shape i've got or the u.s. government rather than federally kind of really a dot about it but you know greenspan really started this transition to the u.s. government changing big idea what if you have inflation like now and taxes maybe ninety six or so when c.b.i. are going perspective to your point you're never going to have more than four percent reported at lightweight in your area probably go low i have a percent to one so at the peak of the global playing which isn't true that in twelve i keep up with they are going to take over c.r.t. index and you think my index and gold just before that throughout the latin quarter we had in place so we did a good. matters we need played some of that in clayton the only star to reflate that again that lays out what about all but you know if you just look at china as

opposed to kind of trying to talk circles around things that we don't know the reality of the prices are rising and that's not just a moderate wage inflation is rising every five percent on a two year basis if you look at education obviously that's going straight up and we're starting to superimpose like that saying in the u.s. economy presidential almost like an executive order perspective on things like minimum wage which is obviously very place and it's very dangerous now in emerging markets inflation is slowing china is slowing again why is inflation a concern with those signals. going to the room our emerging economies in emerging markets and emirates emerging consumers are really arguments that are very back it has to do with what affairs are called not unclear or so yeah and i already have to take out everything that you actually buy your way including food and energy and shelter and then you said get out inflation thank you very much gets on board the way particularly places like china i get to the basket on

a level you know per capita consumption type of economy that's likely to boom in energy is demonstrably higher then you know much more developed markets so again if you know what we're slowly learning markets we think good inflation at eight huge impact in two thousand and twelve so again i did you take you know quiet places back to their all time i you're going to see much more right wing and places like that as well i can see you know thailand for that matter you're going to see you know all over the place because that's what people do they get upset when the government tells them the prices are going up what are you back they are. that was keith mccullough c.e.o. of hedge i risk management and author of diary of a hedge fund manager. time now for a very quick break but stick around because when we return an update on the transpacific partnership agreement plus several buy books but sam stock joins me to talk about the one company that's profiting off of that fact and as we head to a quick break here are a look at some of your closing numbers of the bell stick around.

right. first street. and i think that you're. on our reporters there. in. the the in

. so we leave that maybe. motion security place your party there's a goal. is that no one is asking with the guests that you deserve answers from. politics. are to. cut.

the money with the business over russia this. now the trans pacific partnership is a for reaching free trade agreement under negotiation between twelve pacific rim

countries now while advocates of the deal here in the states say will increase trade exports and create more higher paying jobs opponents are calling the t p p a corporate takeover that will grant big business is new at forty over government laws when it comes to the internet and its freedom copyright and environmental regulations that's just to name a few now to talk all things t p p i'm joined by ben beachy research director at public citizens global trade watch so ben first and foremost thank you for being here as we walk into our way over. now i want to start out by asking you this week the u.s. trade representative's they announced a new public interest committee a committee as a means to address the criticism from public interest groups what is this public interest committee and how will it take part in this whole agreement the public interest committee has been proposed as part of a largely corporate dominated system on trade policy negotiations that's been

around since since nixon since the seventy's for those who are not aware this is over six hundred individuals who enjoy privileged access to the y. secretive trade negotiating tax and our trade negotiators and about ninety percent ninety percent of the individuals in the system explicitly represent corporate interests you have the likes of general electric is actually the most represented entity an entire system shocking. the self-proclaimed pioneers of offshoring. the likes of doll chemical wal-mart cargo and while the administration likes to claim that there are public interests you know environmental labor groups less than nine percent of the members of the system. are. sent in for any environmental developments labor or other public interest groups and so it's a really it's a really stacks of the most i should mention most of those public interest groups i just mentioned environmental labor political and otherwise are really closer to

just two of the twenty eight committees on the system while there are sixteen sixteen committees that are exclusively industry interests devoted in their interests and so really you know what this proposal is is to create just one more committee one we've got one committee for the entire public interest. and you know there's there's committees in there there's a committee devoted just to chemicals there's a committee devoted just to the pharmaceutical corporations that would like greater monopoly patent protections in the p.p. . and there's even a committee just for aerospace equipment and we get just for the equipment not the iris that is there and we get one one for the public interest. in the industry only committees as well get to meet much more often than the existing labor environmental committees with the administration there was a recent letter from a president. criticizing the lack of consultation with the labor committee saying that industry only committees have met more than three times as often ministration

there you go so it begs the question is this a real response kind of to the public pressure that we've been seeing or is it just window dressing we see it as window dressing it's too little too late first why is it too little it's too little because well and a system of twenty eight committees in which twenty six of them are dominated by corporate interests and sixteen of them are exclusively devoted to industry representation. notion that the entire public interest can be relegated to one committee is laughable. this is a much better way of doing this would be to have public interest representatives sitting on all the different committees so that alongside from a sort of corporations you'd have advocates for access to medicines and hollywood you have people. advocate for internet freedom that proposal was actually brought to the industry committees back in two thousand and ten they unanimously rejected that proposal yeah they stated that their quote was the fact that the whole purpose

of this entire system is to make sure negotiators understand business interests there was a quote from them and so they rejected it instead they created the very proposal that frohman came out with two days ago which is labor have their one committee led environment how they want to be and now in public interest have their one committee it's also too late because p.p.p. negotiations have been going on now for for four years. said it would like to conclude in the coming months so how much opportunities are going to be for public interest advocates sitting on this committee to actually change the many aspects of this deal already written down and concrete proposals that explicitly violate the public interest restricting access to medicines restricting internet freedom and rolling back wall street reforms that cetera now you mention obama and i want to get to that in a minute but first i want to ask you you know what would a more robust role for the public look like in your opinion basically how would the public be better represented in this trade agreement sure well one one step would be as i mentioned actually having

a committee system that involve the public interest at every step of the way. and even better in this system or approach that that has actually been done before is to reveal the entire draft negotiating tax bracket in negotiate tax to the whole public so we can actually see what's in this deal you know the. during the last similarly sweeping trade agreement the bush administration for the free trade area the americas in two thousand and one the bush administration actually published online the entire draft negotiating text saying that you know we have nothing to hide for such a great deal we should build on the show that was all were asked by contrast you know the punctuation has been keeping this community said it yeah i kept it secret from members of congress for three years let alone public and this is implicating wide swaths of domestic laws not. about trade traditionally speaking and so all we're asking for is that the obama administration pull the same standard of transparency as the bush administration ok now i want to play a clip here of a president obama is pushing for t.t.p. and the fast track authority that would ease its passage on capitol hill like you

said and here's what he had to say about fast tracking at the state of the union check out. new trade partnerships with europe and asia the asia pacific will help them create even more jobs we need to work together on tools like bipartisan trade promotion authority to protect our workers protect our environment and open new markets to new goods stamped made in the usa. stamped made in the usa now what do you make of the president's arguments here. so that it's a very tired and counterfactual argument that we need these wide sweeping deals which have much less to do with trade then granting. privileged interests privileges to narrow corporate interests to actually expand exports the record just simply does not support the notion that these kind of so-called trade pacts actually boost exports we've actually had. greater growth with our non f.d.a. non free trade agreement partners in terms of exports over the last decade that we

have with our partners thirty percent higher growth rates of exports that's if you have credible and so we've actually like under nafta we've seen manufacturing and even services exports declined to mexico and canada so it's completely the opposite the data this is government data does not simply does not support the notion that to get exports you have sweeping non trade pacts like nafta or the t.p. i mean it kind of almost helps the argument for actual free trade opposed to free trade agreement you don't have that whatever side you stand on it's just not helping any of the many of the terms and services you're anti-thetical to free trade such as the pharmaceutical corporations that are trying to take in as revealed by a leak in november of monopoly patent protections that would restrict trade in medicines take generics off the shelves and try to increase the cost of medicines and all to be countries so it's really bizarre that they can still talk all this free trade it's just totally misleading now where does congress currently stand on fast tracking and thankfully given the record we've actually seen twenty years of

nafta as damage we've seen damage from you know the court career deal has actually seen exports fall just not even not growth as fast but completely fall so we've seen a damaging record of these deals and that has meant both the public and congress has come out against the idea that we should fast track these tools to congress for those not familiar with fast track fast track is despite what the constitution says which is that congress can have its. so i thought of a trade policy that the president executive branch can you know laterally negotiate and sign that these paths locking in their contents before sending it to congress for an expedited no one moment limited to be. and these are again sweeping deals that implicate many domestic policies that most citizens and members of congress care about thankfully because of the record most against it. house minority leader nancy pelosi stating her opposition you know senate majority leader harry reid saying his opposition that's a good most democrats have come out against even a sizable bloc of republicans have come out against a violation of conservation and polls have just shown that sixty two percent of the

united states public opposes the fast track and it's not popular but i'm sorry to out you thank you so much you are a wealth of information got to have you back soon that was ben beach ficci research director at public citizens global trade watch time now for today's big deal. in today's big deal i'm joined by the one the only mr. now i want to talk about today we're talking about convenient pricey cleanliness for your bottom your bottom now what we're start off with we're bringing you this idea of comfort of an exclusive penthouse lou right to the streets of manhattan well we aren't but one company is now when you're out in public and parks. concerts a toilet it looks like this check it out yeah that looks pretty much like

a concert. sometimes when you're out roughing it looks like this all that's pretty . good let's hope not totally like that but for the vast majority of us the toilet it looks like that there you go that's what i think of when i think of the toilet yet in manhattan finding a public bathroom is a challenge never fear though caution still and go offers luxury comfort and convenience but at a price it all. starts at twenty four dollars for a three day pass plus a fifteen dollar annual membership fee sam can you give us an explanation for why these toilets exist in the first place so who does the company intend to attract. but i guess i guess if you try if you drive the market wills it then it must be just right he said i don't mean i just i just now look at this to me as just another example of the wealthy in america divorcing themselves from the rest of us right they live in these walled off gated communities far from the rest of us they

take private transportation they have drivers that they can have to ride on the public highways like the rest was theirs even private fast lanes that people can take over over in virginia their private jets they go to charter schools they go to public schools and now they can. drive they don't have to use public restrooms like the rest of us they can have their own bougie toilets it now begs the question do you think that. public potties are a human right you know is it a worry or can he with what was a quote i'm going to use this all the time now as if the market wasn't going to use it and so i don't agree with you i mean really i mean that's putting you know is it a human right. it could be it could be i guess there's this organization out of portland called your flush that is saying that this is a human right. you know maybe maybe we could invest more money in making sure that the public toilets we have which we do have them. to a higher standard but instead we're going to. give it as

a luxury simply to rich people not the rest of us now you know the public but what happens if i don't want to be a member can i just use the toilet for a day like let's i want to go the full monty how about an. hour with pashto and go yeah i guess it's it was a fifteen dollars from their days i think it's eight dollars for a day which could be a problem because you can have these people with their annual memberships these two well to do bankers around. and how the new going to have these guys you just paid the daily membership who knows what they're going to actually be doing this is just a toilet this is like a a while tell me about the amenities what is it like there's a bunch of toilets there's luxury showers there's like a walker there's like a lounge like these things could be perfect pop up housing for homeless people or people who are traveling or need but the market instead will dictate that they're going to be crap houses for the. literally literally what's kind of amazing there is that you bring up the idea of this you know we have air b.n. b. we have all these different destructive models to hotels why not even not

a hotel but just make it sort of an accommodation it sounds like it could be a proper room yeah actually for eight dollars a day yeah then you know there's a little bit better now but i don't see that being a viable business model i probably would have a yeah. or maybe you still keep the same many users it's just hard to get there i don't know that that's what i'll say now the final question i want to ask you when are we going to see the debut of this service isn't any time soon apparently june two thousand and fourteen so in a few months everybody can mark their calendars and rush out for a membership. i don't think i'll be doing the members. maybe i'll do one day just to this is right and i think i'll try the dollars just for journalistic research well there you have it sam sachs as always thank you so much for being on the show that's all for now but you can see all segments featured in today's show on you tube at youtube dot com slash boom bust r.t. we also love hearing from you so please check out our facebook page at facebook dot com slash boom bust r t you can also tweet us at aaron aid at edward n.h.l.

be back monday and you can also tweet it sam sam sacks from all of us here at boom bust thank you for watching see them all right. the full drums of the future one to soon show we go and stand where we meet some of his sons innovators in the light sockets and we find out how the big black queens for compazine crufts cool food in a modern day funking could still manage to take some smokes but the album said look day here on r.g.p. please join the future. when i close my eyes i see people in mosques who so. you know sometimes i think that in itself is a face covered by

a mosque. with people in both sides of the barricades with your mom. and you know sometimes it feels as if all of ukraine is no most.

explosions and street fights in kiev where government branches have reportedly been shooting at police and blocking traffic the death toll from the recent violence which is at least eighty with hundreds more injured. radicals refused to leave the streets despite the deal signed between the president and the opposition on a number of concessions including early elections and a major overhaul of the right to say they'll accept his resignation. seem to be ignoring the. hands of the protest is that washington slap a large part of the blame on the government.