still you will be. a b c b b c b b b. c two. hello there i marinate this is boom bust and these are some of the stories that we're tracking for you today. jobs numbers came out friday and according to the report u.s. job growth slowed in july and the unemployment rate unexpectedly rose we look into what these numbers mean coming right up and a big potential deal is in the works and one that could affect where you shop for discounts are to correspond in a mirror david will be here to tell us what dollar please takeover of family dollar could mean for you and your dollars and finally your feedback day is upon us we're

putting you the viewers into the driver seat lead to letting your top all the stuff that we talked about with your questions something concerns sent in for us throughout the week live on today show it all starts right now. so low there now it's the first friday of the month which means it's be a less and bagels day translation the bureau of labor and statistics put out jobs numbers today and in honor of this monthly occurrence we hear it boom bust like to celebrate with bagels in the morning so that's what that means now according to the report u.s. job growth slowed in july and the unemployment rate unexpectedly rose pointing to slack in the labor market that could give the federal reserve room to keep interest rates low for a while. nonfarm payroll jobs increased by two hundred nine thousand last month

however a calmness had expected a gain of two hundred thirty three thousand jobs now in addition data for may and june were was revised to show fifteen thousand more jobs created than previously reported so why is the job gains were broad based services industries accounted for the bulk of the gains adding one hundred forty thousand jobs compared to an increase of two hundred thirty two thousand jobs added in june now although job growth was below expectations july marked the sixth straight month employment extended by more than two hundred thousand it's a signal of strength last seen in one nine hundred ninety seven well it's been a while now a separate port from the commerce department showed inflation easing in june a price index for consumer spending excluding food and energy edged up zero point one percent after gaining zero point two percent in may through the twelve months ending in june the index was up just one point five percent which is still below

the fed's two percent target the same report showed income growth group zero point four percent in june and despite the numbers being up the important takeaway from all this is that the news isn't all positive the labor force participation rate or the share of working age americans who are employed or at least looking for a job increased sixty two point nine percent in july after holding at sixty two point eight percent for three consecutive months but other measures closely watched by fed chair janet yellen took a back step a broad measure of joblessness that included that includes people who want to work but have given up searching and those working part time because they cannot find full time employment that edged up by twelve point two percent and at the same time the ranks of the long term unemployed swelled and the length of time americans are spending unemployed as well.

it's a potential mega merger that could change the landscape of the deep discount retail industry now this past week dollar tree announced plans to acquire competitor family dollar for eight point five billion dollars and the combined companies will have more than thirteen thousand stores across the lower forty eight states and five provinces in canada and should expect annual sales of more than eighteen billion dollars now if this deal comes to fruition it could seriously shake up the mega market retail sector and here to discuss all this is our correspondent amir david america first and foremost great having you here were there and i did view on the show i love it and i know you have some good is good so bad now what's the g.o.p.'s what would you do this is a pretty big deal ok so we've got the two the second largest the second and the third largest discount retailers coming together you're definitely going to be some

healthy competition for dollar general now that's the top money maker as far as discount retail goes but what's really interesting i think is that most people don't think about these companies as billion dollar companies no not one dollar in a time but you know all those dollars really kind of add up and this really has a lot to do with the economy why they're doing so well according to the most recent data total income for households earning less than thirty thousand dollars a year drop by one percent between two thousand and four and two thousand and twelve that's according to the bureau of labor statistics also during the recession the number of working americans living in poverty increased by forty percent staggering numbers and this of course has not been such a great thing for shoppers no not at all it has of course been a really good thing for dollar stores there are huge as far as deep discounters go . oh and they're really big both in urban and suburban communities we've got dollar general and family dollar big in urban communities dollar tree really big and suburban communities so this merger between family dollar and dollar tree really

could sort of represent the next power retailer sort of giving the big box stores like wal-mart and target a run for their money now i'm glad that you bring up these big box retailers because here's the question do these dollar stores really pose an actual real threat to these big budget deal or more than you would think and before i actually did research on this i thought they were completely separate but it's interesting they are like real competitors trips of the dollar sort of risen since of course the financial crisis fifty three percent of us shoppers in twenty thirteen said they went to one dollar store here or there in the past month that was a from forty percent in two thousand and seven just for points of comparison sixty five percent of shoppers say they visited wal-mart monthly in two thousand and thirteen down from sixty nine percent in two thousand and seven and for target was also down thirty nine percent to twenty thirteen down from forty three percent in two thousand and seven to target and wal-mart coming down dollar store going up

they obviously see that and they're obviously trying to chase after those bargain shoppers they're loyal they go at least once a month and they're always looking for a good deal so that's why you see erin when you go into like a target or a wal-mart they're like sections now carved out special for people that want those dollar buys to see that dollar just the one dollar they're really excited about it so it is very real competition first question why wouldn't a big box retailer like a wal-mart just go out and buy their there's their way without anyone knowing why it all are shot either yes guided by the little guy you know the antitrust implications what's so it's highly likely that wal-mart is considering buying dollar general course that's the big retailer at the top but a lot of analysts say that this could be a sort of a tricky situation because there are so many rules and regulations. really tough to get through the federal trade commission but that being said wal-mart is acting very smart because what they're going to do right now is kick their small format

expansion so they have these smaller sort of subsidiary wal-mart they're called i call it kind of think of them as mini marts and they're called wal-mart neighborhood market wal-mart express wal-mart to go all different kinds of branding and you're really finding them in more urban areas if you think about it you can't necessarily build a huge wal-mart super massive so that's why you usually see them in more suburban areas if you do that though you're really sort of relegating yourself to a particular kind of shopper you really want to get into those urban areas as congested areas where there are a lot of people and so this is a way of them doing it it's also a way of them having their footprint in that sort of dollar store mean. business if you will and they're doing very well they're going to be opening three hundred of those and i think that's just their way of sort of pushing back on the dollar store mania you actually went to a dollar store and i'm excited for this and i want you to have the dollars i didn't know what i was going to be able to find i like going to the dollar store i always

find some some interesting buys but they're just getting there they're perfecting i think their sales for sure they've got a pregnancy test i would never expect to find a pregnancy test a disclaimer this is not for me this is purely for you to really for research a little this is using to join your pregnant yeah as they did find it a little easier and they want to be accurate which another disclaimer this has one and usually boxes are sold they come in to say i think twos or threes correctly want to double check this so you may want to get four of these if you're going to buy these but then again it's a dollar it's still going you know much cheaper so be the boxes retail for sixteen dollars if you're just getting want to be like it was retailing for eight are just going to give you our current information actually i want to say you don't want to try it for keep going until you feel short any. lad that is the really good i think that we're not quite at that age at where we need reading glasses and i was very well i knew this will help me with the teleprompter but i don't know that only

want to understand either anything about it and i don't know about you but my mother now has fifteen or twenty editor because she misplaces them or she wants to keep them and everywhere in every purse and every glove compartment all around the house that adds up because they usually retail for about fifteen dollars that's a dollar that's great and then if i don't have them a dollar's a good deal easier case technology is moving very quickly so what's great about this is if you have an easy read or next year it could be smaller next year it could be bigger who knows how to going to change the interface of it so why invest a lot of money these usually retail the cheapest you can find this is for about seventy dollars i want to commit to like a super fancy want to ask in a one if it's a tape measure and i love i know a man out there really like this anyways it's a staple of every home of course you use it to put up pictures and stuff but you don't really use it all that often once you are things in place so what's the point of investing there's a twenty bucks thing like this to spread dollar and it's probably the quality is

not that different i'm sure it measures yeah yeah that's all there are and my personal favorite and you may agree with me reading cards that is to not only are these. fifty cents each but they're perfectly fine and when you think about what people mostly do when you get them a happy birthday card or whatever it is they look at it they read it and they throw it away it doesn't last as much as you like to think it does it. makes a big difference in right on target it was you when you can afford them so why invest the money in it so those are spread out just to give you an idea if you were to buy this outside of a dollars or fifty six dollars i purchased some all for five dollars fifty dollars in savings and you know i think a lot of that that i would be good joke with this is stuff that you would actually buy for your guests right one hundred percent so it is a kind of yes maybe not. in this economy those are the kinds of savings that people are really looking for it and i think that just gives you a sense of why these dollar stores have been able to sort of carve out a market for themselves right now i got to ask you so all of this was

a dollar but are there sometimes items that you're going to find that are not so i think why i like dollar tree because i don't want to go in anything more than a dollar and i like it to like you know give me what i'm looking for you know anyway it's fun family dollar and dollar general don't exactly do that there are a lot of dollar only items but they do things that are that range they go from two dollars to forty dollars depending on what you're getting their price and they do that because they like to sell a little bit more brand name goods i think they're trying to compete a little bit more with wal-mart so you'll find tide detergent you'll find coca-cola and stuff like that dollar trees and exception i will say that everything a dollar that is the dollars should not be purchased there are some really sketchy things in the dollars so there's a lot to tell you are a lot of top ten lists out there that tells you top ten things to not buy at the dollar store but anyway select reports electric devices batteries don't get those. this is been positively fabulous love having the show is going to come out very very soon and i might have to give you a dollar. so much that was fabulous r.j.

correspondent david time now for a very very quick break. stick around because when we return we're bringing you the best of the best from this past week and it's the end of the week which means it's time for us to hear from you edward harris and i are tackling your viewer feedback and our weekly accrued interest segment plus remember you can see all segments featured in today's show like this fabulous why not here to dot com slash boom bust our teeth and on hulu at hulu dot com slash boom dash bust now we got to go but before we do here i look at some your closing numbers of the bell come on back at the.

cross talk rules and if it doesn't you can jump in anytime you want. place. basic needs of economic ups and downs in the final months day the london new york

sang i and the rest look like it's going to be k.c. will be everything we own all day. the u.s. military was built to square off against the soviet union. over western europe but when you take that conventional military and now try to retest it there's a counter-insurgency force it creates a lot of gaps and that's the kind of private sector stuff.

welcome back now it's the end of the week and that means it's our best of the best segment first up we have cryptologist bruce schneier talking about how much privacy we give up for the sake of convenience to take a look at what he thinks about the whole situation next we have overstocked c.e.o. patrick byrne are green why the government has no business being involved in decline and coming off the heels of second quarter g.d.p. numbers axel merckx and peter schiff interpret them to interpret the data and suggest we shouldn't get too excited about it just yet then minister bull debt expert kate long talks about puerto rico's debt crisis an inevitable default and finally yanis varoufakis explains what went wrong in greece and how they can build a road to recovery enjoy. we definitely are trading privacy convenience and i was working on my i phone before this interview and i was able to do a lot of things because that phone knew my physical location and that phone is

a tracking device it's incredibly convenient yet it tracks me everywhere i go it knows where i live it knows where i work it knows when i go to sleep it knows who i sleep with simply because it knows my location now where are trading off an enormous amount of privacy but we're getting some very powerful features in return so the trade off is in a sense worth it but we have to ensure that it's not being abused so when i look at corporate abuse when i look at government abuse they are around the edges these are still great services and that's why we all have cell phones we all have e-mail accounts we all have laptops. and it's a reminder dorothy parker said when she her fears that once you heard she says that what you hear is the two people collaborated to write a book it always made her sound early to say hearing it three people collaborating to make a baby i just don't i don't i don't know what the third person does similar if you got to eat her and see don't know what that's limited by the rules of mathematics

like. you know critically group occurrences are not sure what the rule of government. does you don't it's like needing three people to make it eight what's you don't need the government currency is a mechanism for humans to communicate information to each other crisis in prices or little packets of information about scarcity value and i don't know what you mean that other. bible doesn't everything look great i mean just mention how everything looks horrible in europe and everything must be so fabulous in the u.s. it's just nobody feels that how fabulous it is maybe part of it is because a lot of that was inventory build up of but clearly some indicators are looking better the other number that came out by the way today was inflation core p.c. inflation was up and if you put that into context in. flavin is moving up the fed today holding rates steady doesn't that mean that real interest rates interest rates often flame dropping so we have this hawkish federal reserve because

everything is looking so great yet interest rates actually falling and so to me that suggest maybe not everything is so great and when we finally going to raise rates i think we're still going to be in negative territory meaning after inflation that means financial repression in the u.s. is going to continue if a long time the key difference is that here we have made to believe that we have a strong recovery but i think that's not exactly the case. well first of all the the thief plus four percent that was just released today is a politically number and is very likely to be revised downward maybe even significantly so in the months ahead so i wouldn't jump to any conclusions based on the first look because historically or at least the past several years these numbers are almost always revised downward. but even if you accept the four percent number for now it still shows that the u.s. economy barely grew in the first half of two thousand and fourteen. shy of one

percent annualized which is most last than the three percent or so that people were looking for at the end of two thousand and thirteen the very beginning of two thousand and fourteen and i think those people who are drawing a false sense of comfort right from this four percent number they think well this shows that the first quarter was just a weather related anomaly no it doesn't. well it just definitely i mean it restructures it to fall and. basically i mean if you just look at the electric utility it's not sustainable the electric rates are extremely high we talked about this before too how the electric rates around twenty eight cents a kilowatt in puerto rico and here in the mainland they average around twelve cents a kilowatt so it's just crippling really to the economy and even if you wanted to attract business it's very high with these high electric rates so they underline absent the electric monopoly in the wire west of the wire monopoly in the highways

they just have too much debt in they get a new investment which you can't do when you have on that debt and this process has to happen one way or another just unclear and under what legal framework it will have very. good truth behind the phony emphasis on public that has to do with the banking sector the banks of spain the portugal of greece of germany where the states of two thousand and eight and the whole emphasis on public that the whole book was of the bailout plans was so as to seem equally effective transfer of banking losses from the books of the banks onto the shoulders of the taxpayers thus the great emphasis on public that which was not just applied on micro good nomic grounds. now yes i want to have a more wide ranging conversation with you today but we've got to talk about greece and i can't help but notice the private sector wages in greece are still dropping

so when it's a real recovery going to occur there. the answer to your pertinent question is when europe and the government it's a come clean when they come clean on the fact that the insolvency of the greek social economy that happened in two thousand and ten is simply with its transforming itself was not going away as a result of either we never dealt with it we dealt with it by piling up huge new debts on the shoulders of an insolvent state and then that state passed it on to the private sector in the form of tax hikes and duction intentions and so on that induced aggregate demand so that they insolvency that begun two thousand and eight simply. with the economy when we stopped doing that then there would be a chance of recovery. that was the best of the best from this past week time now

for our weekly accrued interest. in first time with the wonderful and i were there and i was sure here for my side of the mirror and i wouldn't want to have you here at all so you are a terrace and i are putting you the viewers into the driver's seat today letting you steer the show with your comments questions and concerns all sent to us throughout the week twitter you tube and facebook let's dive right in and we begin with our regular and one of our favorite commentators optimus five who this week had something to say about our show on tech evaluations he writes twitter's timeline views grew by fifteen percent over the last year that sounds very unimpressive just a quarter of facebook's size and slowing already ed thoughts common concerns well you know basically we're in the fifth year of an expansion and people are going for

growth so i think the bottom line is that at this point in the expansion with all of the growth stocks are the ones that people are going to have to wonder what kind of pickup we're going to have economically and what impact that's going to have if you're doing sort of a discounted cash flow model of the next ten years and you're seeing these companies in a growth thirty percent. year to you have an economic pickup and you actually declined fifteen percent sort of growing thirty that's a huge discount in terms of you know the valuation of the company and i think that's what we're looking at i want to do that but you know we've also talked about this before on the show how twitter doesn't have to be. you know like it doesn't necessarily need to grow maybe for its valuation of value or. maybe that's the problem valuation not necessarily the size of the group it's better to have more curated highlights what are you all about are you asian perspective you've got to wonder you know all these companies are you. these so-called just.

take a look every single time you see one of these companies report it's always. that we're back to the whole one thousand nine hundred where they weren't reporting the real numbers they were putting these phony numbers at some point and. all of these these unusual expenses will go away i don't believe how quickly we forget that's for sure now another couple over marks on our show this week about economy and markets now first is benjamin june said good show i agree that the economy is not as robust as many economists would like everyone to believe and truth say verse seven says dow down three hundred the cracks are beginning to show and you've been saying this for a while now so i guess the question is how big are those cracks that are beginning to show. a little bit more sort of cautious here i think the real economy is actually doing fairly well. we're at two hundred forty five thousand jobs trend over the last three months we've actually had the best year in

jobs growth at the trend since one thousand nine hundred. you know it's ok the real question is how much longer can this go on and what it's how those valuations in the market going to be compared to where the prospects of the economy are and that is a very big question of the next is to get through these very christianson who really like john assaraf and we do as well he says this is my favorite boom bust guess he doesn't sugarcoat and is clear and concise on the european economy in its current state of affairs with very morgana says a boom bust all star in my have. and you know the interesting bit is i think what i take away from what ya this is saying is basically that all of you know none of these companies these countries can pay all their debts and so the question is how much of the pain is going to be taken by the creditors and how going much is. be taken up by the debtors and right now we're trying to do is crammed all the pay and

all into the debtors and that's not a politically sustainable activity given you know how much the economy is shrinking as a result of that eventually it's going to cause havoc and the eurozone can break apart as a part as a result of the love that you saw that along with yourself thank you i know our final comment comes from regular capitalists who had this to say about our show on austrian economics nice to hear ed harris and give a shout out to austrian business cycle i think it's fair to say that when it comes to economic theory you are an equal opportunity praise or an offender which i know i know you don't let anyone off the hook yet i think that you know it's good that we have all these different people that you interview i really find informative that you talk to different people from different. expect so that we can get sort of a holistic view rather than sort of cram one view down people's throat get the whole picture that people decide that's what we're doing here for us we're giving

you both sides we know you're smart about that to make your own decision we're going to both ways here that's all for now but please remember that we love hearing from you say please check out our facebook page at facebook dot com slash the best our team and please tweet us as well erin aid edward at age from all of us here thank you so much for watching have a great weekend we'll see you next time. in

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power via the. sat is very tempting. israel lays waste to more areas of gaza and its push for the release of a soldier it says was kidnapped by hamas while in the west bank anti-war protesters are dispersed with lethal live rounds. the u.s. plans to arm and train ukraine's irregular armed forces while the e.u. reportedly lift the ban on supplying cave with military technology and the quitman . and coming clean on hush hush interrogation tactics. were tortured some forced. to do some things that were contrary to our values. president obama admits the cia crossed the line when interrogating sauce.