to question more. we're in this post truth world or world we're going to have to matter again about educating people and giving them contacts instead of telling them what they can dialogue is far more valuable than to be. told you have for breakfast yesterday why would you put those ok if she's your wife . now i did you do to him. all the world straights and all the news companies merely players but what kind of parties are into america play party america offer much more artsy american person.

in many ways and use landscape just like the real news big news good actors bad actors and in the end you could never your all. so the park and all the world's a stage all the world's a stage all the world's a stage and we are definitely a place. time when de france is a boom box broadcasting around the world from washington d.c. tonight federal reserve chair janet yellen completes her second day of testimony on capitol hill we'll see how markets reacted to her views on the state of inflation and the fed's beige book is out my guest danielle de martino both says it's the poorest showing in a long time and she tells us why she thinks so and it's a perfect storm in canada the governor of the bank of canada says the economy is walking a. so proceed with caution stand by the bus start right now. before

the senate banking committee today federal reserve chair janet yellen said she believes the risks concerning inflation are two sided stressing that price gains could both accelerate and slowdown that's appears to be an effort to adjust the views in financial markets yesterday in her comments before the house financial services committee yellen discussed the possibility that a recent slowdown in inflation could persist longer than the fed expects that triggered a big market rally with the dow jones industrial average hitting

a record high investors saw the remarks as a signal that the fed which has raised interest rates three times since december might slow the pace of future interest rate increases today's testimony coupled with upbeat data and earnings report to do at the end of the week meant world shares hit a fourth all time high in less than thirty days. beijing and lisbon are set to join forces in canada's belt and road initiative the global infrastructure project was launched in twenty thirteen by chinese president xi jinping if successful it will link asia africa and europe by land and sea thereby linking them by money and leverage now portugal has entered the fray bringing the advantage of its geographic location the initiative is part of its got two components the silk road economic belt and the twenty first century maritime silk road they will cover dozens of countries more than sixty percent of the world's population and more than one third of global economic output portugal is said to deepen cooperation in the sectors of

new energy agriculture and infrastructure while of course welcoming chinese business investment with open arms. when it comes to brazil the political drama is seemingly endless but this time around we're dealing with former members of office instead of current leaders who for she is here in the studio with more on that for us bianca who's in trouble now we are now talking about lula who is the former president of brazil and was just found guilty of charges relating to these seemingly never and ending petro brust scandal we as in a little led to silva known simply as lula was president of brazil between two thousand and three and two thousand and ten during his presidency he was credited for thrusting brazil onto the world stage and was considered one of the most popular leaders to ever run the country but that legacy separate

a setback on wednesday who was found guilty of corruption and money laundering prosecutors allege louis illegally accepted one point one million dollars from the construction company in order to purchase a beach front property in exchange that company was able to sign contracts with petro bras for sale state run oil corporation he faces up to nine and a half years in prison though the judge ruled he could remain free pending an appeal which his lawyers are definitely preparing for what. the sentence delivered in this scenario with proof of innocence and delivered by a judge who clearly lost his impartiality a long time ago reveals an illegitimate process which shows once again that this process was driven by political objectives and it's not just lula and his legal team that say the charges are and ruling are politically motivated people took to the streets of sao paolo to protest the decision holding signs reading lula resist

so his presidential legacy may not have been ruined just yet but it could certainly damage his future aspirations it's been. widely known that he was planning to run for president again next year but according to brazilian law he'd be ineligible to run for office for twice as long as his sentence which means he couldn't run until he's ninety years old news of lula sentence only complicates the political and economic scandals plaguing brazil just last month the country's current president was charged with corruption days after his approval rating dropped to seven percent . a lot of people when they hear about this name this country they think of operation yes does this have anything to do with oh yes it is definitely related to operation carwash was an investigation launched into different businesses and firms and political leaders that work used of making deals with petro bras in exchange for bribes and then that money would go into political slush funds or go directly

into the certain party leaders and basically since this investigation has happened we saw dilma rousseff who was the former president impeached on corruption charges the current president michel to mare was just accused of corruption and then of course now lula who was in office before and just got found not earth found guilty of corruption charges so there's a lot of corruption that has allegedly occurred throughout brazil and it's just never and i guess you know that we are not only here to monitor and know there is no try and there is not an appeal you could technically still run for president but what kind of a law is that is that while i yes i mean before he yes while he's out because he's out free and till he does appeal so technically by the time next year comes an election season starts he could run that would obviously be a really big risk for the workers' party because if he if the appeal doesn't go his way then they would essentially have no real candidate but you can definitely tell based on their response to the ruling that they may have very well been planning to

have him as their their candidate so when the the country comes out and says you know he is he is guilty because he's corrupt in the lawyers. come out and say no it's not i would love to be on a corner in brazil watching the newspaper headlines after his argument with us thank you so much. all our bills are going off in canada and the governor of that country's national bank is urging caution as the economy walks a very tight rope on two thousand highly much enter on time he is following the story for us alex some would say that there is a perfect storm brewing in canada an economy could hit a major major problem what are we hearing from the experts on this is this where i'm supposed to assert talking i can't hear you from this side but let's let's talk about this yeah it was so you know alarm bells going off definitely interest rates were hiked here in canada by point two five percent from point five to point seven five just yesterday so as a seeing that jump i mean this is how bad the first time in seventy years we've

been pretty steady across the board and now this for some people it seems like good news or if you're in the money business the canadian dollar jumped up from seventy seven and something cents us to nearly seventy nine cents today so in that way yeah that could be a positive what people who hold mortgages well that's a very different story because the banks jumped on this right off the bat and they took their rates from their prime lending rate from two point seven to two point nine five percent what we might see and then it would seem that the dollar has jumped a little bit is the predictions are that in october we might see another rate hike that will be likened to this one and of course some people possibly in trouble with their mortgages of more expensive of course but let's go to a couple of charge here really interesting stuff give you a bit of a breakdown of what's going on first we're going to go to a housing chart and you can see real housing prices in the u.s. versus canada from one thousand nine hundred five to two thousand and sixteen this baby speaks for itself a look at those housing prices spike you know this is this is something that has

been going on we've been talking about the bubble in canada forever well things have slowed down you don't have to be an economist to know that all you have to do is live in a city like toronto. houses were flipping like crazy just a year ago or even in spring time this year and that has basically stopped thousands of cars that are on the market now for a couple of months at the time and some people have just taken their houses off the market so this has slowed down to what kind of seems like a normal really but when you break it down you know everybody's expected go up and up and up of course for the investors in real estate some of them might take a loss in the end but for now it just looks like possibly a stabilization but definitely not the growth that you saw in the past now also another good chart which is really important here the percent of labor force employment in construction that's goes hand in hand with housing if the housing market slows down so does construction and look canada has doubled the amount of people that are in the housing construction business than the states you guys have about three point five percent we're at seven percent and that now this third

charge their charge it's the volumes this is the big want to hear the household debt to income while americans learned a lesson back in two thousand and eight you guys went down with that and we just went up it's so troubled times a bite of toss the top the us a bit of a lesson canada really didn't go through that problem that you guys did back in two thousand and eight and now that's an issue the canadians are one of the worst countries when it comes to household debt and that could spell trouble in the long run wow those are some shocking numbers there time to take heed canada thank you so much for joining us on this alex hyla joining us from toronto thank you. time now for a quick break stick around because when we get back my guests and i thought the lead the new plays out from the bad and russian internet search engine giant panda and ever joining forces they got a break for the numbers of the endzone. most

people think just stand out in this business you need to be the first one on top of the story or the person with the loudest voice of the biggest raid in truth to stand out abuse business you just need to ask the right questions and demand the right answer. question. i do not know if the russian state hacked into john

podesta emails and gave them to wiki leaks but i do know barack obama's director of national intelligence has not provided credible to support his claims. i also know he perjured himself in a senate hearing three months before the revelations provided by edward snowden he denied to be n.s.a. was carrying out wholesale surveillance of the us. the hyperventilating corporate media has once again proved to be an echo for government claims that cannot be verified you would have thought they would have learned something after serving as george w. bush's useful idiots in the lead up to the invasion of iraq. it is vitally important that the press remains rooted in a fact based universe especially when we enter an era when truth and fiction are becoming indistinguishable. here's what people have been saying about a rejected

a night with us actually just full on awesome the only show i go out of my way to launch you know a lot of the really packs a punch at least yampa is the john oliver of marty americans do the same we are apparently better than two thousand and six and see people you never heard of love redacted tonight the president of the world bank so he doesn't really mean it seriously send us an e-mail. rush as search engine giant yandex operates a ride share service in the country with about twice the business and now it's set to absorb. for itself yandex taxi and uber will effectively become one new operator

in russia also as our vision on our media fellow roost in kazakstan yandex will own fifty nine percent of the operation with hoover owning thirty seven percent and employees taking the remainder its value will be just over three point seven billion dollars with uber investing two hundred twenty five million dollars in the new company and yandex putting in one hundred million according to yand x. and uber the two are on track to complete thirty five million rides a month and operate in one hundred twenty seven cities shares in yandex jumped fifteen percent on the moscow stock exchange on the news of this deal which is set to close near the end of the year. and millions of customers who use the u.s. communications giant for a rise in customer service support center within the last six months may have had personal details exposed and then left online for the better part of a month the company says that customers names the street addresses e-mail addresses

and even pins may have ended up on an incorrectly configured cloud server maintained by a third party at the same time dries and states that the information was caught by security workers before it could end up in the wrong hands cyber security firm up guard says one of its researchers discovered the leak on june eighth brize and was then told five days later and it was fixed on june twenty second according to a guard around fourteen million customers may have been exposed while verizon puts the number around six million. just as federal reserve chair janet yellen began her testimony before lawmakers this week the beige book was released it details overall economic health in each of the districts that houses a federal reserve bank we've got some jobs workers and housing numbers to get to please welcome danielle de martino booth founder of money strong and author of the

wonderful book fed up an insider's take on why the federal reserve is bad for america you say this is the weakest beige book we've seen since last year you got a couple of very pointed reasons why and lightness well kansas city was actually the only district out of the twelve districts across the nation to report that activity had increased economic activity had increased since the last time the fed met otherwise all other eleven districts were either flat to down half the districts noted that slowing car sales have become problematic and this is a case a strange case actually of the anecdotal data. now catching up to the hard data but the fed does tend to spin the beige book fairly positively as a habit i can tell you that as a former insider all right well let's talk about janet yellen obviously testifying over over two eight days yesterday she talked for two hours praising the strength

of job growth numbers she went on to say the fed may not raise rates. it's done so twice this year so far a lot of people had their hopes up with the fact the fed's ability to start reducing its current bond holdings in the fall. look guillen's testimony yesterday was in one word confusing to me she said she used the word gradual so many times and yet as you just said she spoke about a strengthening job market well where is the wage growth is my question to her and if the job market is so strong why are there ratcheting back expectations for further rate hikes this year to add on to the to the confusion she was very aggressive in her verbiage about beginning to shrink the balance sheet which is quantitative tightening and it's more in a form of tightening in my opinion than hiking rates is and she said that she wants to get that started relatively quickly so she was truly speaking out of both sides

of her mouth yesterday very confusing testimony we're getting nothing specific as of yet that most people would like to have to look at and say good this is a good chunk of information it's operable the beige book reported that we are seeing a demand for manufacturing and non financial services but by all accounts there still seems to be a shortage of workers the fed in philadelphia reported they saw more job hopping than actual retentions what does this tell us about the current job market well we did see the quits rate tick up in another recent report and that shows that there is a higher degree of confidence among workers who have jobs and again it is this skills mismatch. that is one of the outgrowths of the great financial crisis and if you are a skilled worker today you can't find work you can hop from job to job to job and you can command a decent wage the flip side of it is the retail sector as we know is is in the middle of a bath these people do not have transferable skills if they've been working in

retail their entire career and we know that part time employment and the people working two jobs that these numbers remain unusually high and again that's a depressant on wage gains so you really do have a barbell style of of the job market you've got the haves and you've really got the have nots as well absolutely well inflation is still below the fed's target of two percent even though we're seeing unemployment numbers starting to sort of fall and the fed has raised interest rates as we've talked about three times in the last year should this be a call to slow or some pozen other hikes some say yes some say no you know i really do wish that they would have started earlier and already gotten to two percent it might be heretical for me just makes it make such a statement i don't think the fed needs to tighten any more i think that there are enough indicators that suggest that the economy is slowing that that the fed should

take their their foot off the accelerator maybe tap the brake that being said i really don't think that the fed should lower interest rates even if we go into a recession lindsey zero interest rate policy has created a lot of the distortions that we see in the economy today it's been a huge contributor to the low quality of jobs that have been created as companies have stopped investing in plants and equipment and innovation and just you know borrowed money and bought shares which maximize shareholder value and it takes advantage of federal reserve zero interest rate policy but as we know it does very little to spur decent economic growth and strong job gains. well let's talk about these districts that report on the base but more than half of them are reporting. noting actually in their reports on declines and auto sales obviously it's been talked about a lot when we talk about consumer spending it's something we we want all the time what kind of collateral damage can we expect for the auto industry just going off

of this current report you know they say that manufacturing only employees a certain percentage eleven twelve percent of the u.s. workforce and that we really should only be paying attention to the services economy with all due deference to that conventional wisdom i think it's very important to note that the auto industry in some way shape or form directly indirectly affects five percent of all working americans today the factory jobs that are that have been associated with a massive rebound in the auto sector which few people remember was bailed out but the jobs that will be lost going forward as we move simply from dealers getting rid of salesmen because they don't have as much sales volume once you start to cut into those high paying factory jobs there will be as you suggest collateral damage to the overall economy let's talk about some of the retail jobs that you and i touched on earlier we talked about as you said retail being a bloodbath i've spoken with people who say analysts who say that the way we

measure consumer spending right now just isn't correct we're not looking at it right because we're measuring. basically retail wrong that we measure you know brick and mortar or amazon or wal-mart under certain headings but they're absorbing so many companies at such a fast rate that what these companies actually sell is changing so much and people aren't going to stores they're going online it's sort of an antiquated measurement i'd like to get your take on that well look i think that every single statistic is . needs to be dynamic in its make up i would certainly agree that the way we shop has changed dramatically and i welcome any new ways. measuring consumption i certainly welcome the ancillary to that which is which is a new way of measuring inflation which the fed is obviously getting wrong once again but even if theoretically consumption was stronger than what it is my only counter to that would be why are consumer bankruptcies ticking up why did capital

one announce that credit card charge off rate was going to increase which which made the fed pause in terms of giving them a green light during the stress tests why are auto defaults going up why are f.h.a. mortgage defaults going up clearly there is some kind of distress signal emanating from the household sector and i think that that will have an impact on consumption regardless of how it's measured what do you think about some of the stuff she said yesterday some of what we talked about today as you say there is there's not a lot to grab on to as far as specifics goes talking about the dual risk of inflation prices rising too slowly price x. prize excel are waiting to quickly. it seems to wants to you know model modify the impacts of her comments. before you know what she said on wednesday today it's sort of modifying what she said and yes you know what do you think look i wish that she would get to the heart of the matter i wish that she would get to certain types of

price inflation that are absolutely crippling households the rate of rental growth the rate of cocaine ments insurance premiums those types of things you know what the chair is not recognizing is that there is progress in this world there will be declines in mobile phone cell rates there will be five or six of these instances in any given year that will be an active drag on inflation but at the same time the cost of necessities the cost of living even the cost of food right now is rising appreciably and i think that that needs to have been acknowledged by the chair instead of just insisting that job growth has remained robust because all she is doing is looking at a headline figure that really tells us so very little or no the question real quick before we go there is talk of janet yellen not being the chair of the fed and in just a few months of other people being juggled around as possible replacements do you

think she'll stay on. well you just saw me smile lindsey so i'm going to say that i hope not. and that that with all due deference to janet yellen and she is a brilliant woman but i would certainly prefer to see a changing of the guard at this juncture and really a changing of the guard for the last thirty years in the culture that alan greenspan started at the fed i welcome anybody who's not an academic ph d. on to the forum see with open arms if we hear about developments in that in that area we're going to bring you on like a display thank you so much for telling us how you feel about this and giving us all this great information daniel de martino both founder of money strong and author of fed up an insider's take on why the federal reserve is bad for america a man shows up to fix an a.t.m. and winds up completely trapped inside corpus christi texas a contractor was changing the lock to a bank of america room that leads to the back of the a.t.m. he became trapped when you couldn't let himself out of that room because he didn't

have a key card on him on top of that he was unable to notify bank employees for help on top of that he didn't have his cell phone on him so then he got creative and suddenly customers began to receive notes from the cash slot begging for help and asking that they call his boss the only problem was that the majority of them thought it was a joke so when one finally did call the number on the help note a police officer arrived and detected a voice coming from inside the machine only then did it kick down the back room door. wrencher wide open and the man was let out from inside the a.t.m. but guess what he has not been identified and i doubt he well that's all for now everybody thanks for joining us check out the show on youtube dot com slash food us r t thanks for watching the next. people have got to know whether or not fair presenter supply american people

deserve to know the answer first at this point does it may must guard against the military industrial war we shall never go. to war you should know that there is still yes we do have a. future. i think the average viewer just after watching a couple of segments understands that we're telling stories there are critics can't tell and you know why because their advertisers won't let them. in order to create change you have to be honest you have to tell the truth artie's able to do that every story is built on going after the back story to what's really happening out

there to the american public what's happening when a corporation makes a pharmaceutical chills people when a company in the environmental business ends up polluting a river that causes cancer and other illnesses they put all the health risk all the dangers out to the american public those are stories that we tell every week and you know what they're working. the mission of news with it is to go to the people tell their side of the story our stories are well sourced we don't hide anything from the public and i don't think the mainstream media in this country can say i think average viewer knows that our to america has a different perspective so that we're not hearing one echo chamber that mainstream media is constantly spewing. we're not beholden to any corporate sponsor no one

tells us what to cover how long the coverage or how to say it that's the beauty of our t.v. america. we give both sides we hear from both sides and we question more that journalists not letting anything get in your way to bring it home to the american people. all the world's a stage and all the news companies merely players but what kind of parties are into america playing artie america offers more artsy american person. in many ways the news landscape is just like this you know real news big names good actors bad actors and in the end you could never know your audience so much parking

people all across the state all the world's a stage all the world's a stage and we are definitely a player. from the donald trump jr controversy continues the latest on this edition of politics. politicking on larry king well the white house ever put this russian. he behind it and if it does will all the president's team remain standing in the end or will people very close to president trump pay the ultimate political price if not legal price will jump right into it we're joined by steve cohen democratic congressman from tennessee member of the house democratic steering and policy committee he also serves on the ethics and judiciary committees and is a never.