their offerings in the space as well by launching their own all funds but not all funds are on board and many financial advisors say that they won't offer alternative funds because of the complicated strategies involved in managing them and their lack of long term track record of success we just don't know their brand name now my take if it looks fishy and it smells fishy it's probably fishy so buyer beware. but. now our next guess is definitely definitely not afraid to speak his mind i recently had the chance to speak with peter schiff they've been best favorite and c.e.o. of euro pacific capital now peter believes that the current housing market is a bubble and says if something doesn't give the country could be flooded with homes

that no one wants to buy take a look at what he had to say. well i think this eco bubble that the fed has reflate it in the housing market is already beginning to lose air and the main difference between this housing bubble and the last one is the last one was more of a main street bubble and this is more of a wall street bubble because the principal speculators are hedge funds and private equity funds and very high net worth individuals who are paying all cash for properties and buying them on the interest of creation of selling them at a profit or renting them out to all the americans who could no longer afford to buy but i also think this is a bubble i think a lot of the real state that was snapped up in foreclosure auctions i think people overpaid and i think the investors are just now beginning to realize that they overpay so i think the speculative buyers are leaving the market and there's nobody to fill the void because the real buyers are absent in fact if you look at. the

recent almost that to styx the percentage of homes bought by first time buyers is at a record low and in fact home ownership among individuals is that generational lows so prices have to come down dramatically from here before real buyers can actually afford to buy all the properties that have been bought by speculators and stump like the speculators who own these properties if they can't collect enough rent to cover the cost of ownership they're going to be selling these properties and look out below because when they put these properties up for sale again there's no buyers anywhere near the current prices so you're saying that speculators overpaid when these homes were in foreclosure and i is that correct yeah they went well initially in the process they probably got good prices but then the prices began to run up as the supply of foreclosures was dwindling and more and more speculators wanted in on the action they started bidding against each other and prices were too high and some people might have looked at prices and compared them to where they

were at the peak of the bubble and said well i'm getting a twenty or thirty percent discount so it's still ok you know when you're talking about a discount to an inflated price you could still be paying an inflated price is specially if you look at what the potential is to rent these properties out because you know the rents are not going to be there i think a lot of people misjudged the market regarding how much they could actually read these houses for because it's very difficult to rent a single family home a lot of renters don't want them because there's a lot of other costs associated with it and i think it's going to cost these hedge funds a lot more money than they think to matt age all of these single family homes it's going to be very difficult i think they've been off a lot more than they can chew and you know a lot of these investors they paid cash for the properties but that doesn't mean they're not in debt they might have borrowed the money through another source they don't need a mortgage but they still have borrowed money that they've brought to the auction house so they still have a lot of debt and if interest rates begin to rise and they have to service this debt but they're not getting enough revenue from the rental income they may be

forced to want to put these properties up for sale but again if all the speculators want out who's going to buy nobody. parent treasuries have been doing pretty well with the ten year hovering around two point five zero level so do you see this low yield lasting and if not what impact do you think an uptick in yields would have on the real economy well first of all a big uptick in yields would be devastating for the foley economy because it would predict the bubble of stocks and real stated forced a lot of banks to fail and if we'd have a worse financial crisis than in two thousand and eight but it would liberate the real economy the real economy is being stifled by the low interest rates and what the fed is doing so but if the surface it would be very positive it might be painful at first but ultimately it would be a you know a pain that would be beneficial because it would lead to some long term gain but i think the main reason that we haven't seen

a bigger increase in interest rates since the fed began tapering is because foreigners have come to the fed's rescue if you look at the increase in buying of treasuries from china from emerging markets in general from europe you know look at belgium for example you've seen this big increase that has offset the reduction from the fed which again they announced today they tapered back another ten billion and if it wasn't for all these foreign central banks we would have had a more dramatic impact on rates as a result the question is how much longer will the well can we count on this support from our friends especially when we're pissing off so many of them with our foreign policy now many believe us shares are priced to perfection right now with the s. and p. five hundred having had twenty seven records highs this year so some american investors are diversifying into cheaper international shares do you recommend that move and

why or why not try been recommending that for years and i've been following that advice personally you. i think that people should be invested in the stock markets the question is which markets which countries which sectors should they be focusing on because they're all not the same so i do believe that there are certain markets that represent a lot of value where the stock prices are not inflated like they are here where you get a lot more value for your money you pay a lower p. e. get a better dividend yield and you have a better prospects i think here in the united states you're right. there's a bubble going on and in fact beneath the surface if you look beneath the average is a lot of stocks so far in two thousand and fourteen are in bear markets there are plenty of stocks that are down more than twenty percent on the year there are a lot of stocks that are down ten percent to twenty percent and there are some stocks that are making new highs but it's not that many when you look at the

overall market and a lot of it is based on a share buybacks that are financed by cheap money and it's the low interest rates that make possible the valuations and some of the inflated earnings number so that if interest rates were to go off that would completely knock the rug out from under these stocks because not only would it reduce their earnings dramatically because they would have to pay more interest costs on all the debt that david cumulated to buy back all these shares but it would also impact their revenue because their customers who also are levered up they would have to spend more income on interest payments so they would have less to spend. on their products but now higher interest rates means that you have to discount those future earnings by a bigger number so the multiples have to contract so there's a lot of room the need for the market in unless of course the fed comes to the market's rescue with an unprecedented amount of money printing which i actually

believe is what's going to happen. that was peter schiff c.e.o. of euro capital. time now. for a quick break but stick around because when we return to our t. producer beyond the fish eating it's telling us about staying one step ahead of hackers and how it's a hard thing to do for even the most seasoned cyber security expert and in today's big deal redacted tonight has the lead captain sitting down with me to talk about the privatization of prison and a little wal-mart stuff in there as well plus remember you can see all segments featured in today's show on youtube at youtube dot com slash boom bust our tease and on hulu at hulu dot dot com slash boom dash but dot com. now before we go here a look at some your closing numbers of the bell come on back with a. cross

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lisa tried to explain the people are going to join you for your life for the story changing every minute. sometimes make no law oh well. my alarm clock. was going to say the mole time. on skis is too close to meet women still. sometimes for nothing. to sleep and it's important. to sleep just keep still we can still be shot if you see a stage eight look to be. plotting to kill all the same. length. captain america

tax goes to the pentagon goes in defense budget to start these wars of convenience to continue the american empire around the world but warren buffett of cars doesn't want to have to pay for those wars so he's fleeing to canada so these are financial . cowards. should would you like your gold to keep the scripture to back your heart led by the . cartel but the first lady times people are the sum of the law which is hard. we don't really write you know. because when you go.

back you. go there's a lot of our drug. books they used to say to make it back. to what extent the american and british policies in the middle east have contributed to the creation of these very terrifying terrorist groups the western governments are fully understood the policies of contributed significantly to the radicalization of young men and women around the world this is without a shadow without i will confirm with all i would agree with the some of the young men that we would certainly be rather glad because all western foreign policy.

welcome back now computers smartphones tablets we use them for everything these days but just how secure are your electronics last week the boom bust team attended the blackout conference in las vegas and it's a meeting of the best collective security minds on the planet and what we learn there is that hackers and thieves seem to always be one step ahead of security which certainly isn't good for any of us need tells us more. experts who are around the world recently gathered at the black cat conference in las vegas to discuss events mental technology and information security in the post snowden era and meetings like this explore some of the most pressing issues of our time like whether or not privacy is at all attainable in the digital age the black cell and the first allegedly fully encrypted smartphone or. after one expert at the conference found two new flaws in the device and this comes after a recent study released by he looked packard that claims seventy percent of smart

devices ranging from t.v.'s to home thermostats to automatic door locks have security vulnerabilities all this begs the question if the so-called internet of things where essentially any object can have an unvented computing system is really for our benefit kimberly price the director of sin x. red team strategic operations suggested the internet of things might be spying on all of us. my refrigerator has imbedded software in it and they know things about my eating patterns is that really matter i don't know. if we're talking about embedded health care systems where a couple years ago there was some research done where insulin pump could be remotely hijacked to deliver fetal dose of insulin that's a problem that's a security issue with life and death consequences of person's privacy breach and we have to be looking at these very realistically in terms of real world impact and not if we overreact to the small things and i'm not saying we shouldn't react but

if we overreact to them then we're going to be immune to the things that really do matter. it goes beyond your home car phone and computer though phone or abilities were also found in airport scanning equipment allowing hackers to potentially manipulate their vital functions security researcher billy rios claimed to have found the flaws in two t.s.a. approved pieces of equipment it's hard to imagine chaos in the airports of hackers could take advantage of these flaws especially for a security system that's undergone so many changes since nine eleven. i don't know if you want to know but getting into that quickly through that you can be prepared for something we need to do rather than through the hard way that we should have. while the list of potential vulnerable items both big and small continues to go. oh researchers at black hat say prevention is key and should be the plan to focus on going forward in washington because the shiny are cheap. now aside from

security and privacy concerns we also made an effort at black had to get some perspective on the financial markets and tech industry as well now you heard a little from kate pierce a moment ago in bianca's report and she's a security consultant. i sat down in vegas with her to learn a little more first asked her how well encrypted the new york stock exchange now as jack another massive market exchanges are today here's what she had to say. some of the stuff that encrypt is very very good some of the. optimized for other things with speed or. like easy reconciliation. and it's security is a business as a business cost and it's a business benefit in the comp you for a thing of it becomes everything that stops you doing what you need to do. so there is that balance but. it's such a community at the technical level with it. to an extent the predictions are to

go. on the in crowd with your prove to be on various networks so if you if you financial who can get on this with network that's a problem but once you're in enough they should. you've got a lot more freedom i want to switch gears a little here and talk about women in the stem industries which is science technology engineering and mathematics now a recent study says that women account for only twenty four percent of those in the workforce so you know how do we encourage women into this field to stop discouraging them and i was very lucky in that i missed that discouragement because i transitioned gender a couple of years ago and until that point you know i was one of the dude walking around i was blending in to this sea of men and in my industry is even worse than steam in general and general is around thirty percent i see numbers that are fifteen percent for my industry and when you take out the people who are in

management or in the softer jobs it drops even more but it's terrifying. so there's a couple things that don't discourage them when. it doesn't necessarily need explicit encouragement just don't. don't suit up as far as the expectations don't tell them that they're not cool for doing that now the other part though is when they get in often the korea trajectory isn't there not to glass ceiling as they need to get on the elevator. i've seen this with from my friends who are. in biology and academia where or the postgraduate students coming through are like sixty seven percent female but the faculty is one with disk lucidly male and we have a largely high meet and their. board. maybe i'm just being paranoid but something funny there but also all too often i get people saying oh but it's all about me or it's all about me or well remember talk of the i've seen

tends to devolve into an oligarchy you just mentioned that you noticed a change when transitioning into a woman so what are some of the more prominent changes that you noticed from the workforce and community i've been very lucky in that i've missed most of the worst ones. most of the differences have been having to justify myself more having to. deal with not being perceived as an expert by walken i have to prove myself in a way that i didn't have to previously and that is. frustrating but also a lot of fun when people don't expect that i slam them down and make them feel insufficient it's great you also mention that some people in the industry just presume that you're an h.r. or marketing no depending on how i dress you go out there walk up to any random got man and say so. but then you get also if you have social skills i presume your sales and marketing if you know hiding back during. you must be going to suffer because if you were technical person you wouldn't waste time with it but people

also use the lack of social skills as an excuse to be rude or to get away with things they would get away with elsewhere and that is very discouraging for one. i haven't been socialized to put up with that i have been socialized to accept it and so i don't i people find that jarring but i'm happy with my life i'm not here to be pushed around by people who are being idiots dr kate clancy an assistant professor at the university of illinois recently published a study and if the statistics basically say that the number of women in the workforce or are being sexually assaulted more that statistic is going up and this is just yet another obstacle for women to have to face in a male dominated workforce and a male dominated vironment like job so does this problem deserve a thoughtful response kind of similar to the way that organizations are trying to encourage young girls to apply themselves in science technology engineering and mathematics so partially it's there but a lot of it is also due to the nature of the industry of academia it's all about your networks the people you've worked with you need them particularly early career

to boom your own credibility and if you they do something to you you want to a position of power sure you could you could take it you could push something. but when you suddenly lose your collaborators. they can ruin your career even if it even if it wasn't explicitly because of that people just think you're making a fuss. and that's not ok. we do see that in other places too but in steam particularly the way you don't publish on your own you do work on your own it's always a group of people whether it's the people you work with directly or the people across the country or across the globe and you need to keep them on side. and maybe admin started getting circular so more they would actually start to see some change but until then we have to work out how do we deal with that in the same way that a lot of women publish with the first initial rather than the first name because then i don't have the gender bias and same way that. this shouldn't happen but

you see the same thing with resumes and studies where people see no reason why with mr or a first initial instead of a name and suddenly they get more coolpix you can't prove anything but the correlation is suspicious. that was security consultant kate pierce time now for today's big deal. big deal time and i'm joined today by the wonderful mr and i'm the big deal you are the big deal you're a big deal now today we're talking about private prisons here's the deal three major companies scope be a capital d.s.m. and a communal insurance have made headlines for denouncing their moment i million dollar investment in the private prison industry now the move comes after an effort made by color of change a nonprofit organization pressured companies to day to day best from private

prisons in light of exploiting men and women of color so we should corporations that you know operate in the public sphere like public prison systems be allowed to trade on public markets or is there a conflict of interest there i mean yeah i think it's going it's gross i think it's because the because they're deciding on people's lives these prisons put people live a lot of people away for god knows how many years of their lives and they pressure politicians to lock them up longer to keep them in jail longer i mean the number of we've three thousand nonviolent prisoners serving life in prison in this country we have five percent of the world's population and twenty five percent of the world's prisoners i mean if we keep locking people up at this rate who's going to be left to wear the snuggies and play the video games no one who's going to wear the snow again this kind of wear and i guess i don't know maybe the companies that are getting paid for each prisoner they have it that's i mean it's terrible but it scope i want to talk about them because they're an alternative asset management firm and they're based in new york city or billion under management and they have other other assets and. management there they're in real estate they do other

things but one of their most profitable sectors is this private prison industry so why do you think it's such a successful business model does it have to do with the fact that you know it's kind of like a recession proof industry when you think yeah there's stocks are doing great the corrections corp's are doing great it depends on how you measure success right right now we're only measuring success with profit what if we measured success with the number of prisoners rehabilitated or the number of prisoners that didn't get you know didn't because there's more violence apparently in these privatized prisons and less rehabilitation in these privatized prisons so it depends on how you measure success maybe we should measure it on how the groups are by the present so there you go you want to know that we're talking about this because in singapore they still are punishment where they're going to have cane and it's kind of funny i mean from a western perspective you're reading this in the paper you know so and so about six lashings but the recidivism rate. is extremely low so for us to say it's barbaric to do this but at the same time we actually we. are not so we're going

over there just where does it play here would you say are stinkers cost wise it's very cost effective and you have the option to go to prison you don't have to but i hear what you're saying in the sense that like we find that so barbaric right locking someone up for their lock. all drug crimes is saying yeah. yeah it's depending on where you stand it can go either way no private prison companies they're more operationally efficient than public prisons and furthermore why is that and should they be more operationally efficient is it because they have the luxury of not caring they don't have a public they're not possible they're not they're not public servants so they're not responsible for the public's opinion do you think that's why you know officials say well dexter is efficient. it's quite interesting i mean you know prison prison labor in journalism and i think that i think. you measure to give there they're measuring you know. they're not trying to rehabilitate somebody they don't they

just want to retain them like the number of prisoners a lot of states several states i think it's maybe nine have signed contracts to these private prisons saying they will have like ninety percent fill these prisons all at all times and also if they show hotels don't have rates that you know exist for use in contract so i said we're going to lock people up for you that's incredible now finally i have two seconds left well thirty but i want to talk about wal-mart can you tell me what's going on there there was a leaked memo from goldman sachs you know about this so quickly give us a heads up and commander share this week tell us how rumored acted this way wal-mart goldman sachs so that wal-mart is on the decline and should continue to be on the decline apparently they're losing out to two smaller more convenient stores and a list of dollar stores is one of them and do you know how crappy does their stuff has to be to loosen up the dollar store like most dollar stores they have like repurpose ramen noodles and like stolen shampoo bottles you know that's what they haven't really pregnant yeah it is an electrical cords and so you it's

a fully schoolboy. really i don't know how when you're on it is really fun you have to come back more often that is leak out posted every almost every doctor's night every friday eight pm check it out it is truly awesome here on r.t. that's all for now but please check us out on facebook facebook dot com slash mr t. and these tweet us at erin eight cam from all of us here thank you for watching we'll see you next time check out. the. states rushers i just want. to be like. this guy is just ridiculous on the answer to my question. johnnie's not.

supporting their safety and sometimes their lives all over the wall to bring people stories. down the child don't want to see and we told her sleep. well during. this month showed bush's time schools gets a facelift and you can see the board we make the most of the sun in this. the signs flourishes in tomes and we check out some unparalleled say. technology here on r.g.p. we've done the future cover. gender trying to symbolize this the gender menace in swedish it could be near because i found this. project foreigners with seventy thousand euro to investigate the trunk from a gender perspective. please

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coconut palms gently swaying in the ocean breeze. and. why he has a deep little secret a secret the u.s. government would like you to know. i did. the turkey right to see. first street. and i think you're. on a reporter's. instrument. in

the cold. on. the u.k. . threat posed to the country. as a growing number of britons set off to join the extremists in the middle east. militias step up their counter offensive in eastern ukraine. we report on the european. decided to join the cause. and china seeks to protect itself from the u.s. aerial surveillance vowing to intercept american spy planes prowling the skies.