roles service sector and small businesses led the way out in about two hundred thirty thousand new positions goods that producers contributed fifty one thousand while professionals and business services were the top industry with seventy seven thousand jobs trade transportation utilities added fifty thousand and there were thirty six thousand new construction jobs now the unemployment rate acquired this is acquired from a separate survey of households fell to six point one percent in june the lowest level since september two thousand and eight and the data also delivers a welcome signal of economic health after output shrunk in the first quarter at its fastest pace since the recession the results were better than expected a condom as had forecast an increase of roughly two hundred fifteen thousand payrolls and unchanged jobless rate of six point three percent u.s. stocks climbed after the report with the dow jones topping at seventeen thousand and the dollar also gains as the jobs report we kinda worries that the fed might start raising interest rates sooner rather than later which led to lower government

bond and gold prices so it looks like all the crummy weather that so many economists said was behind the ones contraction is finally subsiding let's just hope the clear sky forecast holds true for the actual whether it's fourth of july weekend. in the world of the currency safety is a relative term the euro took a major hit during the financial crisis and the eurozone is still struggling to deal with an adequate fiscal architecture so the question is what would you hold well that's the subject of my next guest professor ishwar precedes wrestles with in his book the dollar trap looks at the u.s. dollars continued future as the major world reserve currency and i first asked him if you could explain the main thesis of his book here's what he had to say. the

main thesis is that there dollars at all is the dominant global reserve currency is not going to be threatened by any if it's gone but it is and the biggest spider dogs is the big global financial crisis which had its origins in the united states and which was followed by a huge amount of money being printed by the federal reserve which means more dollars in the system and a huge buildup of debt should all have led to a decline in the dollars of value and in the dollars prominence of the global reserve currency instead the diverse happened everybody wants safety because of the financial turmoil and it's there and so the dollar is where everybody comes to for safety where there you have it now what are some of the flaws and some of the strength of the u.s. dollar now the u.s. dollar is strong because it is really to really strong know in international finance it's been sort of everything is that it is my book is not a story about american exceptionalism by any means but it does point to the fact that if you look at competent there is to their dollar there really aren't any significant competitors the udall was hurt by the financial crisis china's are in

a beast trying to play it all but if you look at a country that is very deep broad financial markets there really isn't much of an alternative to the dollar which is why the world continues to come to the u.s. dollar for safety ok now one of our vivre it very favorite guest on the share mr jim rickards and a personal friend he believes that the dollar status as a reserve currency will be shaken up you know in this coming currency crisis so let me play a clip for you we have a bite from him you can hear this. no doubt that the dollar is leading reserve currency today but if confidence in the dollar is weak and there because the fed policy or the kind of issues we're talking about financial warfare people going to look for other safe havens i would say gold is number one on the euro is another one and i was said all along that you know the doors to a little bit because a recent actions by the e.c.b. but not that much and i think it's found the floor and probably go back up against the euro as one of my my favorite currencies so that's an alternative so you have gold in the euro. oh out there now the real alternative to the dollar it's not yet

taken center stage but expect it will sooner than later is the special drawing right where the as you are this is a kind of world money printed by the i.m.f. it's not backed by anything it is just like any other printed money like the dollar or the euro ok now where do you differ with jim basically on how likely this will play out or different in almost every point essentially first of all logic would certainly dictate that position is a valid one but because of the fragilities of the u.s. financial system because of the huge amount of u.s. public debt build up the u.s. dollar should be weaker but in fact what has happened after the global financial crisis and crises following that he said the world demands more safety central banks around the world want more safety private investors want safety and the reality is that there is no other place to go traditional safe havens like japan and switzerland don't want money coming into the economy so they've been exporting capital buying up hard currency deserves the util isn't quite what it used to be no

no the safe part of the euro zone is very small so if you want safety the reality is that there is no other place to go and this is what the market shows as since two thousand and seven the amount of publicly traded debt issued by the us is about three and a half trillion dollars and i'm sorry five and a half trillion dollars and three and a half trillion dollars of that sixty percent has been bought by foreign investors they would love to have alternatives but they really don't have any viable ones right now it is what it is now as for what you take on you know growing economic influences of emerging markets and what's happening in the so-called currency wars in that context you know certainly it is true that you have to move things happening in paddle wonders to declining economic and political influence of the u.s. even while the u.s. dollar itself remains very strong and this i think speaks to the fundamental strengths of the u.s. as not just deep and broad financial markets but a political structure that is so. connecting although it seems to be stuck in

gridlock at the moment over time it does sort of connect and the world has tremendous confidence in the us public institutions like the federal reserve and the judicial system in the u.s. and this is very important for foreign investors to have confidence when they invest in the u.s. so i don't think this is going to go away the emerging markets are developing but i know that the ality is that they are stuck in the middle of capital flow volatility because the big central banks the fed b.c.b. the b.o.j. are creating a lot of capital flow volatility so they want more protection and break and they go for protection they don't trust the i.m.f. so they accumulate more hard currency it is to protect themselves from this volatility and where do they go to park these reserves back to the u.s. dollar the dollar. now china china is still playing catch up china's train very hard to make its currency an important currency and they've made a lot of progress in having it be an international currency now if they love the currency to float freely if the capital account is opened up so that investors can

move freely in and out of financial markets in china if china develops its financial markets i can see the chinese and b. becoming a reserve currency but will it be a safe haven currency one that foreign investors trust my answer to that is no now in asia do you see rb now max as having any impact outside of japan that's a key outside of japan now. has to be at all as one as monetary policy one is fiscal policy and instructional reforms just last week but i'm going to be indicated that he was going to unleash that addle but really it's the first add on monetary policy that has been working very hard and monetary policy in japan means trying to stalk inflation by having the yen depreciate but if you want to enter depreciate it's going to it's got to depreciate against somebody so asian emerging markets are very concerned about this and it also means more than money flowing into the asian emerging markets which would lead to their currencies appreciating so they are affected owning their own and trying to buy in all the other assets

like dollar assets in order to prevent their currencies from appreciating so it is going to lead to some cut in sea tensions in the region. that was professor ishwar the author of the dollar tree up. time now for a very quick break but stick around because when we return alex in delhi is on the program alex sat down with me to talk all things tech it's a great segment with him and we have an early edition of accrued interest for you this week edward harris and i are tackling your viewer feedback today on the show and don't forget you can see all segments featured in the show today on you tube it you tube dot com slash boom bust party and on hulu and hulu dot com slash film bus .

this is what we do we kill people and break things. we can see something as simple as people playing soccer you can see individual players and we can see that. you can only see is facial expression you can see is a mouth open. maybe cursed. or maybe he asked. for forgiveness for. there must be near certainty that no civilians will be killed or injured. or it's probably the most complex and difficult human to.

hold. on. to the phenomenon of friendly fire probably. extends back to the invention of gunpowder. kill a bunch of people who don't know the one thing on their premises there are of us people. reading. this some shoots my brother in the leg not intentional because of it because it was night times four in the morning even the best given the mesh shoulders. are going to make mistakes does this whole idea of brotherhood an author. and camaraderie in this sense it was in this context it has absolutely no place.

in effect that means you can jump in anytime you want. let the pledge play it was terrible to say now i'm very sorry to take out a letter to get along here is a plot that never had sex with the target there are no plans let

alone. listening to the i'm listening. to the. well if you're going to like. people.

like you to have you with us here on t.v. today i roll researcher. numbers with the people in queues independence square were not terrorists and the people. they are the terrorists also just because we don't agree with what kiev is trying to impose on us and stand by our olympic show this is the new people in the us would. welcome back to the showdown in the mobile market we have known heavyweights samsung and apple are the obvious big players however the mobile device market in

developed countries seems to be slowing down and rather rapidly now especially as new mobile devices tend to last longer and do more than ever before now i spoke with alex daly about this very subject and we also looked at possible signs of a bubble in the tech market along with where growth is headed in the mobile and wearable space and alex is senior editor of casey's extraordinary technology and i started our discussion by asking alex about the print money twenty fourteen conference in san francisco where these see professionals venture capitalist professionals we're talking bubbles mark and reason says that there isn't a bubble so i want to get alex's take on it here's what he had to say. i don't think that there's necessarily a bubble intact but there's definitely a little bit of fraud what we're seeing with technology companies are is a combination of a few things one because the sarbanes oxley companies are going to market much much later the jobs act was supposed to change that we've seen a handful handful of jobs act i.p.o.'s sneak through like fusion io who went out

and about a nine hundred million dollar valuation and just got bought a couple of weeks ago for one point one billion dollars taken off the market but we're seeing effectively acquisitions happen earlier and we're seeing i.p.o.'s happen later and what that means is there's a lot of room for venture capital companies now that said there seems to be a lot of what i would call dead capital following behind on these deals series c. series d. rounds where they're investing one hundred one hundred fifty million dollars in startups that are frankly just going to disappear but that's the difference between venture investors and standard investors you know you and i will look at our stock portfolio if the investment goes to zero we're probably a little bit concerned there since i'm going to knock out a good amount of our capital that is a venture capitalist business plan is nine out of ten of the investments that they go in are just going to fail they're going to go to zero so not they're not afraid to bet one hundred million dollars or two hundred million dollars on a company that has the potential to grow to again eighteen billion dollars valuation a fifty billion dollars valuation

a hundred billion what they're looking for is one castle one facebook one twitter out of a four folio of dozens of companies and if they get that they'll make a huge return for their subscribers net though venture capitalists generally do worse than the market the average return for a venture capital firm over the last ten years has been about five percent or about two and a half points below the market so these guys are swinging for the fences but they miss most of the time they aim to miss about one out of every ten times in which case they easily beat the public markets but in reality they're missing about one out of every twenty times and they're falling behind the public markets that said the big firms sequoia kleiner per. in menlo capital these firms have made a considerable amount of money it's definitely a market where these companies can put hundreds of millions of dollars in place of the public markets banks to regulation and if anything the investors that are getting very very rich off of these markets the the andresen horowitz's of the world we should be looking at them and really looking at the government saying hey

how come individuals can no longer participate in these markets why is it so hard for the public markets to raise capital why is the government so set on trying to prevent protect investors from themselves the now they're affected lee handing the profit for the largest venture capital firms and making it harder and harder for the public markets to participate in any of these profit that's the problem it's not a tech bubble so much as it's just dearth of interest in our availability of the public markets for growth companies thanks to regulation. interesting now my producer edward spider risen blurb pointing to sagging mobile phone revenues in ireland and he thinks that this is not just related to the economic turmoil there the mobile market is in developed countries and develop economies pretty saturated both in terms of premium handsets and the number of people with mobile phones so where is the growth in the mobile going to come from. china simple as that the growth in the growth in mobile phones is going to come from the of creed from sort them phones to

smartphones from simple handsets in places like china africa and india where hundreds of millions of users are still on old fashion you know zero to nine i know keyboards no touchscreen what they call dumb phones qualcomm is estimating about two hundred to two hundred twenty million upgrades in the next two years from stump phones to smartphones in that space and that is just going to pick up pace at this point there's proximately a billion smartphones in use out there out of about four billion cell phones but the growth is definitely as you say going to come not from markets where everybody has. smartphone in the u.s. sixty to seventy percent of phones are smartphones nowadays in africa less than five percent of phones are smartphones so what you're really looking for is growth in the emerging markets and emerging markets are pretty interesting because it's not the same set of companies that own those samsung and apple don't have the same kind of dominance in africa in poorer parts of asia and russia in these markets

that are going to be part of the kind of the great upgrade these these companies don't have the same level of dominance and what we're seeing is an interesting new set of local homegrown companies potential resurgence for nokia and everybody sort of chasing those markets everybody's got a new phone targeted the two hundred or three hundred dollars price point gross so something that's half the cost of the amazon fire phone or that galaxy s five you know everybody shooting for the sort of low end smartphone trying to capture a piece of that market in the next few years that's where top line growth is going to come bottom line growth of course comes from having users who don't need a new phone every month they sell these phones virtually accost what you're really looking at is people are happy with their phone like they are with the i phone we're going to buy more software those are the people who are driving profits and so the companies that are going to see profits over the next few years are really those ones in the in the developed markets who are serving with software and with services for that huge mobile phone population growth in the hands of business in

the big top line numbers definitely emerging markets now apple made a big deal about its new wearable sensor platform health kit and you know that i'm pretty skeptical about the wearable face alex but seriously how do you see this and they should have by all of them are but. i think it's going to be a boom but i think it's going to take a long time for it to come to pass you're seeing interest in wearables coming from effectively niche markets you're seeing a huge interest in health in fip it's in a nike fuel bands in those places what's not clear is are the people buying these things continuing to use them and finding value out out of them ever. today i think the problem with wearables today is they're still effectively the equivalent of a watch calculator from one thousand nine hundred five that yeah they're useful to those people who don't mind sort of being branded as that guy wearing google glass but as designs improve as these things happen you know the market will find that

there's real utility here and not just the ability to check the time without getting your phone out of the pocket i'm talking about real real utility look at how many people walking around the mall hold their cell phone two feet out in front of their face and scream at it while apple just wants to provide a watch that they can scream at his dad the whole market of these people out there there's a whole market of people who are looking for the next cool gadget the thing that will make them look hip the thing that will you know show off to their friends the conspicuous consumption so i think there is definitely a market for necklaces and watches and things that have some level of communications capability but until we see ubiquitous gesture control and voice control it's not really going to come to pass the smartphone market came around because they were able to turn the touchscreen which has been around since the nine hundred seventy s. into something that was really usable pinch to zoom features multi touch really high density screens that you could watch video on the touch screen came of age with the i phone and until speech recognition comes of age these devices with tiny

little interfaces that link a few dots that you are of dubious usefulness so i think today it's great that we have a developer platform i don't think we're going to see those touchscreen phones this really take off for another five to seven years at least. that was alex daly senior editor of casey's extraordinary technology time now for this week's accrued interest. interest time with her parents and they ok now it's the end of the week and that means it's time for edward harrison and i to put you the viewer in the driver's seat letting you steer the show with your comments questions and concerns all sent to us throughout the week here twitter you tube and facebook time to dive right in first up an old favorites mitch writes in to say quote i am

a facebook equal cia face hugger however that does not mean people should as facebook there's nothing wrong with fighting fire with fire making your opponent overextend or turning your weakness into a strength and your enemy strength or weakness ok i'm going to be honest i don't really get woman chooses trying to say here but if it is trying to say that facebook is in cahoots with the cia my thought remains the same facebook. and what are your thoughts comments concerns. whatsoever on facebook. if you really want. the head of facebook we're actually. getting everyone to report on where they're what they're doing and where they've been for the last two years that he is the best to call the very go what it ok so let's us this what do you think about you know the psychological tests that facebook is conducting on its users so what about that you'd be surprised really

that concerned with i didn't think that it was not i think it is a what i would say is people make it out to be the thing that does concern me is the mental health implications for people who actually do have mental health issues it could be the sort of thing that you know just the cost of the brady and that kind of day. but in terms of privacy and that sort of about is concerned already next on our next remark comes from f r k t which i think is an abbreviation for the free market it could be something else let us know quote so be i us got this b.s. right estimation point now what are we or anyone going to do about it it seems as though we've relegated ourselves to the fact that it's ok for the business cycle that the business cycle wash rinse and repeat itself again edge you think that the you know business cycle will wash rinse and repeat itself again how we've relegated to really think you know exactly the things that got us into this are the things of the doing good i mean it's pretty clear to me that one percent interest rates in

two thousand and three. to two thousand and five or whatever they started to raise rates is exactly one of the precursors of the housing bubble right the housing bubble was caused in part by low interest rates so what happens when the whole thing falls apart again they lower interest rates. and then they go on for good measure they think that this is actually a good and that this is going to spur a sustainable recovery i don't think it will i think that the whole thing is going to collapse and everyone's going to start putting the thing with the fed yet again . for i'm katie and ellen now next up is from octopus five who comments quote i don't believe there's any disconnect between the fed's intent and doing the fed's intent was to strengthen the balance sheet of the banks and financial institutions they got it but at the expense of main street on behalf of whose interest does the fed work for again wrong answer you and me believe that the fed exists and operates solely to benefit you and me no i think the operate in order to.

the payment system and basically what it boils down to is in terms of finances debility even though. low interest rates in my opinion are if they're abnormally low which i believe that they are not. they foment instability over the longer term when there is a crisis with their concerns about the fact that begs need to get their balance sheet back and basically what it boils down to is that they have interest rates low so these institutions can rebuild their balance sheets so they can borrow cheaply and therefore benefit from a yield curve which is. so that they can live a borrow short at low rates that will make their balance sheet much better and create and finally we hear from six six six six sigma who says very sexist rant at the opening based on zero facts gender is not the measure of performance is results the n.b.a. n.h.l.

m l b n n f l pay women zero point one hundred percent less than their male counterparts it has nothing to do with their gender has everything to do with their inability to perform now six six six sigma i agree with you that promotions and compensation should be based on performance and not gender but today they just they simply aren't and in my humble opinion that needs to change now absolutely right now. because i thought you were going to. but i think it's completely what he said with regard to that they don't perform. so there you have it but thank you for your comment that's all for now we love hearing from you please check out our facebook page and please tweet out us at aaron aid at edward n.h. from all of us here have a fantastic holiday weekend we'll see you next time i. was

about seven years old it's one of the largest cities on the east coast of america. got about one hundred people here just because of. the cost of housing in this area especially. it is very high and i believe as an american we have a right. to say about or to possess public land until something is created that's my house you see back there live it send them to well good at least then tend to now than the dollar. if we hadn't done that we wouldn't have been home i want to go we don't just how old the you know people of density we don't know anybody that needs help so tell your friend to just give us a moral figure. as they are never going to get the internet when one thousand got a place to live once on monday i'll be out here with my dog.

as a new physician i swear to abide by the hippocratic oath. to the best of my ability and judgment. i will prescribe for the good of my patients. i will not give deadly doses to anybody. or advise of those to do so. i will never do harm to any. doctors of the doc's on on to. use a secret laboratory to mccurdy was able to build a new as most sophisticated robot which all unfortunately doesn't give a darn about anything tim's mission to teach me creation why it should care about humans in the world this is why you should care only on the dog call.

this is what we do we kill people and break things so we can see something as simple as people playing soccer games you can see individual players and you can you see the ball. you can almost see his facial expression you can see he is now open and crying. maybe he cursed us or maybe he asked. for forgiveness for. there must be near certainty that no civilians will be killed or injured. i'm abby martin the stories we cover here in auckland here in iraq several stories

have struck at life same time there's a reason they don't want you to know more. now let's break the set. more residential areas under fire in eastern ukraine where people say they're living in constant fear of shelling even though the president promised not to endanger civilians. brain forced to tap into long term gas storage facilities after being cut off by moscow for a huge un pay bills the e.u. energy chief warning europe could be affected. back to iraq u.s. top general says the country may launch an assault on isis insurgents while saudi arabia sends thirty thousand troops to the border sparking fears of an armed invasion.