president of the world bank very. seriously send us an e-mail. by lindsey francis is broadcasting around the world from washington d.c. tonight's wall street reacts to president trump claims that the government will shut down unless it builds that wall between the united states and mexico adding to

it is his statement about scrapping now also the time warner mega merger faces pushback in brazil we've got details on that also it's been a wild a year for airlines from talk of privatizing air traffic control to major airline customer service problems how is the industry holding up and what changes could we see as the summer travel season winds down my gas ways and standby starts right now . in a speech tuesday night in phoenix arizona president donald trump said something that wall street felt this morning take a listen. you know the obstruction democrats would like to do it but believe me we

have to close down our government we're building a wall. after those words hit the airwaves the value of the mexican peso debt against the u.s. dollar a dollar was worth seven hundred sixty eight pesos at closing stocks had some gains on tuesday then sunk on wednesday across almost every industry however it must be said that they didn't compare to dips we have seen in recent weeks investors of course as you might guess scrambles for safer ground in treasury bonds and gold also turning to trade with mexico and canada the president asserted in his speech that the north america free trade agreement would probably end up terminated by the u.s. . and a week into nafta negotiations it seems that the people at the negotiating table are unfazed by president trump's remarks about scrapping the plan party's alex and joins us now from toronto with more alex what exactly did the president's what did

he say to actually stir the pot about the nafta negotiations the let's expand on that before we get to the actual reaction. well as you saw the president was speaking to the converted already so he was just basically saying what he's been saying over and over again and we're still over now if this awful this is what was the told that he held before he became president the tone kind of dissipated over the past few months and now i guess maybe it was kicking steve bennett out of the white house i don't know what it is but he's become a little bit braver and his words have returned at least in some respects to what he was saying before but what you want to listen to me let's hear from the president himself. personally i don't think we can make a deal because we have been so badly taken advantage of they have made such great deals both of the countries but in particular mexico that i don't think we could make a deal so i think we'll end up probably terminating nafta at some point. probably i told you for the first day we will renegotiate nafta or we will terminate nafta i

personally don't think you can make a deal without it terminate you but we're going to see what happens ok you're and you're in good hands i can tell you. in good hands america that's what the president's goal but it seems but again as i mentioned preaching to the converted here he's talking to an audience in phoenix arizona that are you you know trump stores to the degree and then that's basically that's basically it i mean the guy was speaking to his audience and when it comes down to it we've seen trump flip flop in the past and i think this is one of those situations again but also he's expanding on something it's a long of fame that he has he has said the talks are going on and so it's sending a message but maybe they were nonplussed how are canada and mexico reacting to this prat. both canada and mexico expected this is just a question of time when was it going to happen you know it's hard ball the go shooting everybody looks at you know if you look at as businessman these are

tactics used in the past said the same thing about nafta a couple of times over so when it comes to mexico and canada they're like oh well this came a little bit sooner than expected but we did expect to hear this at one point in the process of the nafta negotiations now let's really get realistic about this let's bring up a graph and why trump has to think twice about something like this these are the annual export growth under nafta now exports are on par between canada and the u.s. and mexico seems to be the big winner here but let's remember what mexico is mexico is the pure poorest of the three countries obviously labor's poorer day and they're sending more exports up our way to the u.s. and to canada especially now when you look at that we're helping these guys out we knew going into now who we're dealing with the u.s. knew who they were dealing with so from that respect this is just something that we again are looking at as a negotiation tactic because really stepping out of nafta totally well you know

what point to even to trump wants to step out of nafta totally the u.s. and canada and mexico are prepared for that they have heard this type of right they were rhetoric and if something was to happen yeah the waves would be felt but we saw what happened today after the speech of with donald trump yesterday in phoenix that lutie the canadian dollar didn't budge and mexico yes the peso was hit a little bit because it is the poorer of the three economies but in the long run with mexico really suffer if nafta disappeared maybe it would go through some bumps but whatever happens to nafta something would have to come along to replace it but as for now it just seems to be a lot of talkie talk that isn't hot air and god for bad from our president thank you very much alex in highland and coming in as from toronto. the merger deal worth eighty five point four billion die. dollars between eighty and teen time warner may have hit a snag in brazil is one of the world's largest telecoms and time warner owns warner

brothers h.b.o. c.n.n. just to name a few and a sticking point to remember eighty also holds a ninety three percent stake in sky brazil after it took over a direct t.v. in brazil that could run afoul of a law prohibiting pay t.v. providers from owning programming content sixteen countries have so far offered regulatory approval for this merger to lay brazil at the u.s. are still holding on that reports have surfaced of the department of justice calling into question what this possible merger could mean for negotiations over access to customer data which telecoms routinely sell to one another. last week minutes of the fed's july meetings were released and we all learned that the fed itself isn't sure on how and when to raise rates one side is worried about our current low inflation environment while the other half is worried about what

happens if they continue to delay joining me to discuss gerald slanty founder of the trends research institute thanks for joining me on this now which do you think we should concern ourselves with the low inflation of the delays. depends on who. is so if i always sells the. gamble is that the markets they don't want higher rates so they could keep gambling borrowing cheap money all those stock buybacks merger and acquisition activity even though it slumped down a bit still high on the other side of the yeah was sell this is it's a war against the savers we have no place to put our money once upon a time you put your money to the back it got a thing called interest so now even afraid to go up just a little bit it's really not going to affect that much in terms that giving us more but our credit card debt our household debt which is at record highs that starts

going up so we're really in a catch twenty two situation here but the low interest rates overall have only helped generate growth in the equity markets and hurt the every day person it's a war on the savers yeah you're right especially with student loans coming in second and household that now let's take a look at this chart we see that since two thousand and nine the dow jones industrial average has risen from the low point below eight thousand to this year where it peaked at twenty two thousand indicates obviously this recovery since the financial crisis are there any indications that the fed's concern on how to proceed with a rate hike could effect this anytime soon. yes they don't know what to do just like they don't know what to do it on why during unwinding that four point five trillion dollars worth of debt that they have they're really if again if interest rates go up too high the markets crash and there's been no global recall no recovery of any

sorts for the average person because again lindsey just look at the facts median household income right now is below one thousand nine hundred ninety nine levels twenty people in america as they all this wealth grew they own as much dough is half the nation's population and then you look at all the jobs that have been created under obama since two thousand and nine according to the harvard princeton study ninety four percent of them are temporary jobs so they're really in a catch twenty two here because if the markets go down this whole thing goes down ok well former senior official to u.k. treasury has said that the quantitative easing policies that the central banks have undertaken since the two thousand and eight financial crisis has been like heroin for the economy do you think that with companies currently depending on central banks to cheap money for things like stock buybacks and mergers and acquisitions that it's an accurate statement or is it just hyperbole. well go back

a year ago watch two thousand and sixteen you had the dallas share richard deficient former fed chair saying that the rally was driven by quote coach and the conjecture it's nothing new everybody knows about this what's going on but they don't teach you this in economics one zero one there's never been a thing called negative interest rates zero interest rate policy and quantitative easing they've made it all this stuff up and it all it's done the facts are there boosting the equity markets and they don't know what they're doing don't believe me go back and aspect bernanke. back in two thousand and five if there was going to be a housing bubble and he said no go back to two thousand and seven when the markets are ready to go on sold ben said no we're going to see growth in two thousand and eight that will mirror two thousand and seven they don't know what they're doing

well just real quick the argument has been made that the fed should acknowledge that there is weakness in the current job market which a lot of people say it hasn't done and that we should keep rates low until there's a clear sign of wage and price increases set of just assuming that low unemployment will lead us to higher inflation so what's your take on that well they're not going to see it unless wages go up the reason we have low inflation it's a supply and demand issue again all the money's gone to the top so the average person doesn't have money to spend on a lot of different things that's why you see low inflation it's supply and demand and all the supply of the equity is gone to the top with the middle shrinking down and people having less money spent but we will see how these this indecision plays out in the fed's next meeting coming up in september thank you so much for input on this gerald celente founder of the trends research institute. time now for a quick break stick around though when we get back to euro zone business

manufacturing is up exceeding expectations and the airline industry has been shaken with scandal in two thousand and seventeen by gas and i take a look at where it might go and here we go to break check out the numbers at the closing bell. coming. every the world should experience. and you'll get it on the old the old. the old according to cheshire. welcome to my world come along for the ride. what you have for

breakfast yesterday why would you put through. your wife for. me. what's your biggest fear a little bit on a hay ride when the last time medical board you say if you ever met the things the best quarterback. explain the topic that doesn't belong on the piece now i did give you due to a question more. people look i don't know whether or not they're presenters or people deserve to know at this point does it they must guard against the military industrial. world. war over there. yes we do but.

faces accusations of stealing trade secrets that it duped government regulators along with numerous claims of sexual harassment and massive driver complaints mistreatment wall street has now reacted for mutual funds have marked down stakes in the right hailing company by as much as fifteen percent after more than a dozen leadership exits from the company this year has named a new vice president of leadership and strategy she's francis frey associate dean at harvard business school she admits it was leadership vacuum is unusual she also points to the fact that the company grew a standing way fast and oversight just did not keep up but things will change with her leadership now this comes as we wait for the board announcement of a new c.e.o. those close to the situation now say that the top three c.e.o.

contenders all mail include general electric chairman jeff i'm old as for the drivers who were is now offering an app tipping and the ability to opt out of pick ups without having their rating affected. it's been a wild year for airlines we've had president trump announce a plan to privatized air traffic control and major airlines are scrambling to up their customer service game after the david dow incident the list goes on from there let's take a look at how this has affected the industry and how it might be able to shrug off the bad attend. not to mention the bad practices please welcome gary last chairman and c.e.o. of miles and points consulting and founder of view from the wayne dot com thank you very much for talking with me today and overall how are the airlines been doing as a holding strong are we seeing a slight slump well you know the airlines are remaining quite profitable during the first half of the year the u.s. airlines earned nearly eight billion dollars in profits down from where it was two

years ago primarily driven the difference in fuel prices they really didn't see a whole lot of dips from the scandals in the spring. well let's look at some of the . aftermath shall we call it of the david dow and then it does seem that airlines have now had to rethink how they passenger is a big issue for a lot of flyers and if you look at this graph we see that in the first six months of two thousand and seventeen we've seen fewer bond passengers since the department of transportation began tracking those numbers in the ninety's have airlines learned their lesson or is it too early to tell if there have been any real changes . so the first piece of context that's important is that there's been a long run trend of fewer involuntarily denied boardings over the last forty years or lines have gotten better at this even at their worst than the statistics that you're looking at showing between you know one one hundredth of a percent or one one thousandth of a percent of passengers being involuntarily denied boarding so it's very rare it did become a problem

a flashpoint in the spring with the david dow incident southwest stopped overbooking united adopted a ten point plan to reduce their problems and they certainly reduce them further but that's the general a long term direction that they've been going in i think it's a little bit too early to tell where their behaviors are going to be meaningfully different as a result of those incidents especially because passengers have been booked away however it's also worth remembering that even our allies that don't overbook their flights still do involuntarily deny passengers one of the airlines that does it the most is jet blue they've since their inception haven't overbooked passengers but instead find that occasionally they have to substitute smaller aircraft on a given flight and then they have just too many passengers in the seats so it still happens and will continue to have been just increasingly rarely ok well that's something the customer feel as as being something that people may overlook is the fact that airlines do also make a pretty sizable income off of those for wards programs about now about here on up

to two point five cents per mile and they've reacted billions over the years but some are saying that these frequent. higher miles are actually becoming worthless as an expert on airline miles an airline rewards what's your take on that. so the programs are not becoming worthless they are however becoming worth less which is to say that as airlines have been generally told flights just are not they don't to spend nearly as much to fill incremental seats they're not as rewarding passengers who are flying and in fact now a majority of miles are in for things done other than flying such as through credit cards those are the prime drivers of the profits of the programs each of the largest three programs are earning in excess of two billion dollars a year revenue from their credit card cobra and feels the banks are paying them for miles that they have been awarded customers are responding them on credit cards and these programs had better than fifty percent profit margins that however is likely

to erode as there is increasingly competition for credit card customers from the banks themselves more engaged in creative destruction so american express has their delta deal but their own platinum card is seeing a greater investment than ever before chase with their sapphire reserve card is seeing greater investment competing against their own united credit card and you're with more investment than ever from the banks the airlines are going to have to increase the route the rewarding nature of their programs in order to retain these customers because they've been awarding fewer miles for flying and they've been charging more miles for those rewards seats it's just not been as lucrative a value proposition as in the past at a time when they're seeing more competition than ever you can see how that turns into a real sticky situation for the consumer as at the end of the day it's the consumer that really matters and what drives airlines to make these rewards programs more appealing as you said so how can the average joe who's just started in the rewards program fear how can you take advantage of these rewards and save some money it's

very confusing and they want to get a leg up on these airlines how do you even approach that and from mrs martin angle . well so remembering that fewer than half of miles or even are in from blowing i would say that the most important thing for somebody just getting started is not to choose an airline on the basis of the miles that you're going to earn but definitely sign up for the program when you do fly an airline and you want to track your miles i use a free website called award while the dot com to track mine one click updates my account so i can track all my passwords keep everything in one place and then also help me learn when miles are going to expire to keep that from happening as well over time you're going to accumulate enough points for free trips and so the idea is don't spend more money chasing the points but make sure you do pick up the points that you're able to earn along the way without extra cost keeping us airlines on their toes thank you very much for that said gary last chairman and c.e.o. of miles and points consulting and founder of you filling dot com. thank you.

august saw stable eurozone business growth on the back of the best business manufacturing performance in six and a half years it's considered a good indicator of overall economic growth as measured by the flash euro zone composite purchasing managers index it edged up slightly to fifty five point eight in august this is up from fifty five point seven beating a previous estimate of fifty five point five anything above fifty is an expansion now analysts point to cheap oil prices and even a weaker euro for these numbers it's also increased expectations that the european central bank will move forward with the scaled back of its multi-billion euro monthly asset purchases the p.m.i. strong manufacturing growth in germany and france surge particularly above expectations as well the euro zone's largest economies there.

after the u.k. voted to leave many e.u. member nations moved quickly on plans to make themselves attractive to businesses fearing those bricks it implications that includes a stone which saw an increase in its residency program allowing people all over the world to become digital residents and now the baltic nation is taking it a step further. he is here with more on that for us now what is tony are proposing now well because of the success they had with their digital residency program the government of estonia is now proposing a government backed cryptocurrency so we can see estonia create their very own coin essentially and a quest to keep the digital momentum going a stone e.m.i. create its own digital currency and if it happens it would be the first country to do so in a blog post kasper corps exists who runs the country's program wrote as coins could be managed by the republic of a stone but accessed by anyone in the world through its residency program. and

launched through in the national queen offering that program which cost about one hundred euros was launched at the end of two thousand and fourteen and allows the residents to register their businesses so far more than twenty two thousand people from one hundred thirty eight countries have become a residence and one of its key growth markets has been the u.k. especially postbox it in fact over twelve hundred u.k. residents have become a stone even as events ninety eight of which have established a company there and as noted in his blog the program's weekly application is higher than a stony as weekly or three he also emphasized how offering a state backed crypto currency could help with growth and wrote as a result in residency is now creating a new borderless digital nation are many opportunities provided by traditional nations can be offered entirely online to anyone anywhere as a stone even president calculated recently explained we must keep innovating to

ensure that governments remain relevant in the digital era but if they cover goes through with it it could potentially expand the population by the millions could also put in lots of funding and investment especially at the national coin offerings continue to compete with venture capital ok so what dystonia be doing this if he weren't seeing so much success then probably not i mean you know never say never but initial quiet offerings have been doing very well over the past few months and back in june we saw a poll in five hundred fifty million dollars in that for the first time surpassed venture capital funding so they're doing very well right now so it makes sense for a stone you have to offer something like this as a way to pull in more money and pull in more funds it also obviously sets them apart from other e.u. nations that are trying to lure those businesses and entrepreneurs away from the u.k. and not people that have already created their businesses and are now freed of the implications of that but also people that were thinking of maybe creating

a business in the u.k. but are now or a little scared so they can move to stir a. without actually having to move there they can still stay where they are and register online and create their business better and. creative so have any other countries expressed interest in doing something like this yes china actually earlier displayed a prototype cryptocurrency so they haven't officially launched anything and we have no idea when that launch they could be it could be another five years for all we know but we are seeing a small but growing number of central banks actually look into the same thing because it makes transactions cheaper which would make it more accessible for people that maybe aren't living in cities or just simply don't live as close to banks but also as a result increase the number of transactions which would be good for those central banks so instead of seeing this proposed bans on bitcoin or partial bans we're seeing slowly growing acceptance of it all right thank you so much for that. do you wake up in the morning you just hate having to go to your job do you ask

yourself what am i doing this for are you over thirty five fear not you're not alone a human resource for me in the u.k. surveyed more than two thousand people asking how they felt about their job well one of out of every six people over the age of thirty five simply said they were not happy so what's causing people to just not want to head into the office surprisingly the reasons were actually pretty common people complained about stress lack of advancement and not feeling appreciated so how can you solve this problem some of these suggestions were actually pretty simple go drink with some friends or get a hobby. that's all for now check out the show on youtube youtube dot com slash boom bust r t thanks for watching see you next.

about your sudden passing i've only just learned you worry yourself and taken your last wrong turn. you're out caught up to us we all knew it would i tell you i'm sorry suddenly i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was a cave still some are fond of you those that didn't like to question our ark and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind it's consumed with death this one different i speak to you now because there are no other takers. to claim that

mainstream media has met its maker. i'm going to do just that and your watchers all of you live so why should. our culture is awash in logs dominated by streams of never ending electronic elucidations that bird fiction until they are indistinguishable we have become the most deluded society. politics is a species of endless and needless political theater politicians more than just celebrity are two ruling parties are in reality one part of corporate and those who attempt to puncture this. breathless universe of fake news just signed to push through the cool t.v.

and exploitation of the neo liberal force so far to the margins of society including by a public broadcasting system that has sold its soul for corporate money that we might as well be mice squeaking against an avalanche but squeak we must. i'm john harshman i'll give you what the mainstream media can't help big picture. and when you question more find what you're looking for. a. dog. will go deeper investigate and debate all so you can get the big picture. heard. not

a. star writer and creator of. the way it was. trying to break into the industry and then being told no your work doesn't really have an audience nobody's looking and then creating work online where i had an audience of people like all this is great. i just was awfully uncomfortable because. i grew up. on.