hello there now it's the first friday of the month which means it's b.l.s. and bagels day translation the bureau of labor and statistics put out jobs numbers today and in honor of this monthly occurrence we here at boom bust like to celebrate with their goals in the morning so that's what that means now according to the reports 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 economists 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 it 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 expanded 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 report 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 getting 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 and david amir a first and foremost great having you here were there and i did you on the show i love it i know you did have some good is good so bad now what's the deal is just what we're going to 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 you know 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 dropped by one percent between two thousand and four and two thousand and twelve that's according to 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 . and there really big both in urban and suburban communities you'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 that you bring up these big box retailers because you're the question do these dollar stores really pose an actual real threat to be. 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 up from forty eight 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 so targeting wal-mart coming down dollar store going up they obviously see that and they're obviously trying to chase after those bargain shoppers. they go at least once a mom and they're always looking for a good deal so that's why you see erin when you go into a target or wal-mart they're like sections now carved out special for people that want those dollar buys from is going to see that dollar just the one dollar they're

really excited about it so it is very real competition there's the question why would a big box retailer or local wal-mart just go out and buy there's the line about if you want to. buy a little bit if you have any anti-trust implications what's the yes so it's highly likely that wal-mart is considering buying dollar general of 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 walmart's 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 where 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 maybe on you actually went to a dollar store and i'm excited for this i would only get a day out of 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 skills 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 let you know it's really for research a little this is it seems like a giant you're pregnant yes they did find it

a little easy area 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 gradually want to double check this so maybe want to get four of these if you're going to buy these but then again it's a dollar it's still going to go much cheaper so be the boxes retail for sixteen dollars if you're just getting want to be like it was retailing for eight or just one that gives you are heard information actually so you don't want to try it for keep going until you feel short and. well you last that is the way that 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 you but my mother now has fifteen or twenty again 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 thereby you don't have them a dollar's

a good deal easier case technology is moving there a weekly 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 is that when you talk to 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 that's always there 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 anything for them so why invest the money in it so those are 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 not think of that that i would be good because this stuff that you would actually buy for your right one hundred percent so in this economy 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 dollars sort of unable 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 and buying 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 tie detergent you'll find coca-cola and stuff like that dollar trees and exception i will say that everything a dollar that is of dollars should not be purchased and there are some really sketchy things in the dollars for those why don't you are ordering a lot of top ten lists out there that tells you top ten things to not buy at the dollar store but anyways electric or its 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 but it wasn't great you got it 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 one out here tube 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'll look at some your closing numbers of the bell come on back. to me she good laboratory kirby was able to build the world's most sophisticated robot which will unfortunately doesn't give a darn about anything terms mission to teach the creation of life should care about humans in the world this is why you should care watch only on the r g dog called.

cross talk rules in effect that means you can jump in anytime you want. 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 reach ask it there's a counterinsurgency force it creates

a lot of gaps and that's the kind of private sector stuff. right. first street. and i think that you're. on our reporters. in. the in the. welcome doctor now it's the end of the week and that means it's our best of the best segment time first up we have cryptologist bruce schneier talking about how much privacy we give up for the sake of convenience you got 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 paul 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 and knows where i work it knows when i go to sleep it knows who i sleep with simply because it knows my location now we 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 peers that when she heard she said that what you hear is the two people collaborated to write a book it always made her sound early it's hearing it three people collaborating to make a baby just don't i don't i don't know what the third verse does similar if you've got to eat her and see don't know what that's limited by the rules of mathematics like. you know critically their currencies are not sure what the rule of government is doesn't you don't it's like needing three people to make it eight what's they don't need the government currency is a mechanism for humans their community information to each other price from

european prices or little packets of information about scarcity value and i don't know what you need that other. by law doesn't everything look great i mean just mention how everything works hard in europe and everything must be so fabulous in the us it's just nobody feels that the 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 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 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 total growth is just shy of one percent annualized which is much less 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 there are structures you develop and. we basically i mean if you don't 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 are around twenty eight cents a kilowatt. in puerto rico and here in the mainland they average around twelve cents a kilo so it's just cripple rate really. the economy and even if you wanted to attract business it's very high with these high electric rates so the underlying abs the electric monopoly in the wire lesterville wire monopoly in the highways they just have too much debt in the near investment which you can't do when you have are it dead in this process has to happen one way or another system clear and under what legal framework it will have. good truth behind the phony

emphasis on public that has to do with the banking sector the banks of spain portugal of greece of germany where in dire straits after two thousand and eight and the whole emphasis on public that the whole purpose of the bailout plans was so as to civically effect the transfer of banking losses from the books of the banks onto the shoulders of the taxpayers thus the great emphasis on public debt which was not justified on my konami 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 one 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 adduction intentions and so on that induced aggregate demand so that the insolvency that begun two thousand and eight simply. with a call to me when we stop 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 we're there and i was sure here from my side

of the mirror and i would have been trying to have you here at all there are eight editors 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 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 yeah 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 when all of the growth stocks are the ones that people are going to have to wonder what. pick up 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 saying these companies are to grow thirty percent if the year two you have an economic pickup

and you actually declined fifteen percent sort of growing thirty that's a huge discount in terms of the valuation of the company and i think that's what we're looking at i want to prove 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 and. maybe that's the problem valuation not necessarily the size of the growth it's better to have more curated highlights where you already are you asian perspective you've got to wonder you know all these companies are using. these so-called just. take a look every single time you see one of these companies report it's always nice. 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 of her 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. where 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. how are those valuations in the market going to be compared to where the prospects of the economy are and

that is a very good question of the next is let's get through these very christianson who really like john aspera fokus and we do as well he says is my favorite boom bust guess he doesn't sugarcoat and is clear and concise on the european economy and 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 ja 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 much is going to to be. it up by the debtors and right now we're trying to do is cram down all the pain on to 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 to break apart as a part as a result of that and i love that you're honest about it along with yourself thank

you and now our final comment comes from regular capitalist who had this to say about our show on austrian economics nice to hear ed harris and give a shout out to australia doesn't cycle and i think it's fair to say that when it comes to economics there you are an equal opportunity praise or an offender which i know not to you know let anyone off the hook if you know 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 let people decide that's what we're doing here for us we're giving you both sides we know you're smart enough out there 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 for the best our team and please tweet us as well erin aide edward an age from all

of us here thank you so much for watching have a great weekend we'll see you next time. elin. elin

. illegalities. ever was. he did. it hurt the people elect sherman over you over again. and a. place. to live. live. to. pick him up.

and he played. it that . they all told me my language as well but i will only react to situations as i have read the reports so unlike the players in the know i will leave them to the state department to comment on your latter point of the month to say it's if mr k.l.a. car is on the docket else i. think you know more weasel words

when you need a direct question be prepared for a change when you have to punch be ready for a battle freedom of speech and down to freedom to cost. fish farms waters do you have the pond to me because. i saw it spread all over norway is the most toxic food you have in the whole world. that drowns out in the tissue inquiry furthermore restriction.

tonight israel's lays waste to more areas of gaza and its push for the release of a soldier it says was kidnapped by us while in the west bank now antiwar protesters are dispersed with law of rounds. the u.s. says it plans to arm and train ukraine's irregular armed forces while the e.u. reportedly lives a ban on supplying kiev with military technology and equipment. sidelining to coming clean on hush hush interrogation tactics. we tortured some folks who did some things that were contrary to our values president obama admits the cia crossed the line when interrogating suspects as analysts look forward to the release of classified data.