i think. they put themselves on the line. to get accepted or rejected. so when you want to be president. some want to be rich. but you're going to be the first to see what the four three of the four people that i'm interested always in the water. there should be. all the world. and all the news companies merely players but what kind of part is already america play r.t. america offer much more artsy american personal. in many ways the news landscape is just like the real movie big news good actors bad actors and in the end you could

never your all. so the park you need all the world's all the world's all the world's a stage we are definitely a player. i'm lazy francis is broadcasting around the world from washington d.c. tonight we bring you the latest from the united nations general assembly also the federal reserve wraps up its closely watched meeting we've got details on interest rate hikes and the unwinding that giant balance sheet also the skyscraper curse have you heard about my guest says our skylines or predict our economic downturns we find out why stand by us starts right now.

i. right away we go to new york where emotions ran high today at the u.n. security council meeting where world leaders called for a more clear strategy on peacekeeping artie's trinity travel as reports today at a u.n. security council meeting the world leaders gather to discuss peacekeeping operations life's president pence reiterated a lot of what president trump said on tuesday pence called for reform of the united nations to be more efficient more effective accountable and credible he also said every mission must have an exit strategy and the united nations peacekeeping missions must adjust to progress and failure when a mission succeeds we should not prolong it. when a mission under performs we should restructure it and when a mission consistently fails to fulfill the mandates of this council we should end

the british prime minister theresa may also called on the un to establish a clear political strategy for resolving conflict because so often the council reaches deadlock and are unable to act she calls for better peacekeeping on the ground and when a certain standard is not in that there must be accountability meanwhile a day after president made his debut on the world stage and threaten to quote totally destroy north korea the iranian president hassan rouhani addressed the u.n. general assembly today and said trump's speech was quote ignorant absurd and hateful rhetoric he also said iran would not tolerate threats from anyone you go on we never condone tyranny and we always defend the voiceless we never threaten anyone but we do not tolerate threats from anyone and that our discourse is one of dignity and respect and we are unmoved by threats and intimidation and we believe in dialogue negotiation based on equal footing and mutual respect. and on the topic of peace president met with palestinian president mahmoud abbas and said achieving

peace between the israelis and palestinians may be quote the toughest deal of all that he's tried to negotiate but nonetheless his administration is working very hard for peace in the region i just want to thank you for all of the time all of the meetings all of the work it's a complex subject always been considered the toughest deal of all peace between israel and the palestinians to toughest of all but i think we have a very very good chance. to vote everything within within my heart and within my shoulder get the deal made and another meeting the president met with jordan's king abdullah and during the meeting trump held a relationship with jordan saying it has never quote been better than it is right now and praised king abdullah for taking in a large number of syrian rest. saying quote who knows what would happen without you reporting in new york trinity child as artie trinity joins us now live from new

york trinity a lot of pressure on the u.n. secretary general to push u.n. reforms what are some of those developments we might expect in the near future. well. as the u.n. security general said that while his focus will be on conflict prevention peace and migration another major development is on the implementation of the twenty thirty agenda for sustainable development the focal points will be on international trade this is jenin kluges actions to create an environment that will be beneficial to global trade this report calls for devising trade policies that foster economic growth that is inclusive and sustainable their report also raises points about openness regarding trade and globalization the un secretary general also said another key change must be to empower the world's women and girls in order to do this he said that he had launched a road map for achieving gender equality throughout all levels of the un lindsay trinity chopra is joining us live from new york thank you very much. it's

a wrap the federal reserve's two day policy meeting comes complete with a proclamation that we can expect a rate hike of short term interest rates one more time this year stocks wavered as investors sized up the rate policy update the federal open market committee is basing this on strengthening labor markets and continued moderately rising economic activity so far this year also a decline in overall inflation running below two percent if that rebounds we could see a hike up to three times in twenty eighteen and what about the four plus trillion dollar balance sheet we hold it's unwinding starting in october primarily consisting of government and mortgage backed bonds as the bonds mature the fed will spend less money each month to replace them which that reduces the balance sheet the u.s. central bank intends to spend ten billion dollars less on bonds beginning next month a figure of that will eventually reach fifty billion dollars on the news the dow

jones closed nearly forty two points higher the nasdaq lost five point two eight points and the s. and p. five hundred added one and a half points. well norway's sovereign fund has officially reached a one trillion dollar mark the fund which is run by the country sometimes bank takes the state's oil revenues and invests in financial assets abroad it is an unprecedented success and according to some an example other oil rich jurisdictions can learn from our case alex and i love it he joins us in toronto with more right now alex tell us how the norwegian fund has reached us milestone it's a surprise even to the norwegians the western europe some deathstar one people say the biggest and it is the biggest oil producer in western europe although many people say what i wanted to say was one of the happiest countries on earth always rated close to number one if number not number one they're doing really well when it comes to the sovereign funded to beat all expectations nor just bank which is the norwegian central bank and didn't even expect it to happen but there was

a couple of factors that come into play that's the weak u.s. dollar so obviously all the currencies that are invested there in norway in that region currency have gone up which brought it over to the one trillion dollar mark and also the stock markets have been doing well meaning that the stocks that this fund has invested in obviously are all doing well on the plus side let's translate this what does this mean to know we just were looking at a population of about five point two million people basically every one of those individuals has a work of one hundred ninety two thousand u.s. dollars from the fund that's the way it breaks down which is quite nicely it was established back in one thousand nine hundred eighty six and here's a little graph to show you how the fund looks now it's changed dramatically over the years the breakdown of it in the beginning we had about sixty five percent of the assets were. in bonds that was a massive part of it and now we're looking at even real estate the first real estate investments were made back in two thousand and eleven about thirty billion

dollars worth of real estate in the portfolio both in the u.s. and europe and if you really want sort of the bigger picture of this all look there's nine thousand companies that are. in this fund about one point three percent of the global market capitalization two point three percent of europe's market capitalization so this is as you can imagine a massive bond the norwegian government basically has left this on touch until january two thousand and sixteen when the economy one little bit about slump their rule is don't take more than three or four percent of it used to before they've actually knocked down that three percent and the left is the rest is just left there to stay as a basically a rainy day fund now that type of government i like to see we see that they're actually making money and not just spending all the taxpayer money that's out there that is a pretty rainy day fund as candid as i already province alberta's got a similar economy to that of norway but it's fun has not performed anywhere near that well can you tell us about that and why the approach is night and day the

region fund basically looks different or their tours of the region people the canadian funds are like as a canadian government alberta government specifically looks towards appeasing businesses so obviously the tax rates are much lower they want everybody to be happy environmental laws sometimes and you know let's push this aside let's push that aside it's two different ball games now bertus pond which was an established twenty years prior to norway so the nine hundred seventy six that's how long those funds been around is worth how much is it worth seventeen point two billion dollars and the yelverton government loves to dip into their fund as much as it possibly can forty one point four billion dollars have gone to government coffers from that fund itself now norway again like i mean let's look at seventy eight percent tax the oil revenue it's a state run. basically that oil industry is completely state run by stat oil so it's a very different equation when you look at it that way. they do have a deficit they were about one hundred thirty billion dollars

a year deficit in norway but again if they want to wipe that out tomorrow they can it's a very progressive country free education for preschool all the way up to post-grad . with degrees of oil country one in four corners of there or electric there ahead of everybody else when it comes to that it's amazing news thanks for this information out of it's coming out a story from toronto thank you. staying in canada and over to the united states as well the number has now reached one hundred thousand that's how many canadians private information was hacked in a breach of the credit monitoring service equifax it pales in comparison to the one hundred forty three million americans affected which we learned of only earlier this month the company now says that names addresses social insurance and security numbers and in some cases credit card numbers were compromised equifax did not disclose this happened for weeks after its discovery and in the meantime executives sold shares worth

a combined one point eight million dollars before the public announcement the company faces lawsuits and large scale investigations with governments hitting back requesting cyber security protocols from other monitoring services as well equifax had months to fix on a known software glitch which was used in this attack its shares have lost a third of their value since it announced the breach. and time now for a quick break stick around though when we get back so she is set to offload it eighteen billion dollars computer chip business just to survive and my guess fills us in on the skyscraper of her that's right find out what it might mean for our economies as those buildings climb higher around the world as we go to break here of a number of closing down. people

have got to know whether or not fair present or support american people deserve to know your differences at this point does it may must guard against the military industrial war we shall never again or cannot. or should know that there is still yes we do have a. future. for breakfast yesterday why would you put those should the faces your wife. like you name and that was your biggest fear. in

a bit on the hayride when so let's talk a little bit more you say if you ever met the best quarterback. it's on the topic of those aboard the. now i could give you due to the question more. i think the average viewer just after watching a couple of segments understands that we're telling stories that are critics can't tell when 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 parties 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. in the american public those are stories that we tell every week and you don't want your work in. my guest is known for his interpretation of the skyscraper index model and he says what goes up must come down and we can look to the city skies to protect our booms and our busts please welcome from auburn alabama marc thornton author of the skyscraper and ax and a senior fellow at the masons and thank you so much for joining us very curious you

say there is no coincidence that our skylines jump in height before a crash let's talk about some possible coincidences here the burst. open in dubai in january two thousand and ten weeks before a massive crash there chrysler building right before the 1930's depression the sears tower in the seventy's the stagnation that went on there it goes on and on and on we're talking malaysia now we've got towers going up in seoul south korea that are some the highest in the world what can you tell us about the preconditions here. well the skyscraper curse and it's hard to believe it first but it's based on this historic correlation between the building of the world's tallest building in the economic crisis and you know when i drive that the story out and show the history of it it's a long history dates back into the nineteenth century. you know people don't

believe it because they can't believe that building anything could possibly cause an important economic crisis but it's not a cause and effect. and ship between the skyscraper in the crisis but rather it's a third economic force at work that produces both a record setting skyscraper and a boom bust cycle that ends in a crisis in this case it's artificially low interest rates from central banks in particular the federal reserve which create an environment with distorted incentives for people to build new things big things to integrate new production processes and new technology so the forces that are generated by the central banks in these artificially low interest rates they permeate the economy but it's really hard to tell what's true and what's not true what's artificial and what's natural but the skyscraper the record setting

skyscraper stands out above and beyond and provides a tremendously good. illustration of what the central banks are are causing in our economies right so you're not just talking about high rise tower you're talking about these mega buildings and you're not a fan of central banks the federal open market markets just got out of their meeting today with her chair janet yellen said we could face of rate hike this year multiple next year inflation and employment look ok now could be saying a couple of hikes next year the list goes on economic indicators unwinding the four trillion dollar balance sheet what's your reaction to all this and how we might see its effects and exactly what you're referring to. well there's not a lot of new news the one thing about this in the committee currently is they don't want to upset or distort or remind the consequences of markets they want to do things in a way where they project ahead of time what they're going to do and typically they

do far less than what they translate to markets and so we were told we were going to have more hikes this year than we're actually going to get and that's even if we get another increase later this year they're still waiting for higher prices and more inflation which seems backwards when you're talking about economics but they they seem to like inflation so the increases in interest rates have been slow you know they've been promised for almost a decade and and we're just now getting the initial stages and as far as unwinding the balance sheet that's something that they will have to do but ten billion dollars a month which is their initial projection of where they're going to start with that's only two tenths of one percent. of all of their assets and so it's almost insignificant amount of unwinding the on

a per month basis it's almost as if there will be doing nothing at all ok let's talk about the financial recovery from you know starting in two thousand and seven two thousand day in your opinion is it where we've come now is that enough to prevent yet another repeat of the so-called curse on geopolitical attention tensions have rattled markets where do you think we're headed for that because we are seeing these mega skyscrapers go up all over the place as i mentioned saul korea saudi arabia china. oh yes it's a worldwide phenomenon they're not all record breakers of course but they're huge buildings you know multiple records in local areas so you know this is a were. worldwide trend an enormous amount of investment that's going into these mega structures and it basically i don't see this is a true record cover e the interest rates in the united states have been below one percent for

a decade they've been very low in europe and some countries are actually experiencing or did experience negative interest rates in the that's what causes the boom and eventually the bust in the economy so here in the united states you know they talk about economic growth but a lot of it is economic growth in terms of building yet more house rise yet more skyscrapers yet more retail and commercial and then as you say overcompensating building and trying to sell it's just not matching up let's talk about a property analysts at dresdner kleinwort wasserstein he brought this wednesday call paper back in one thousand nine hundred one called the skyscraper and that's fawlty towers and focus on these groundbreaking buildings just as you were out. as you mentioned going back all you know even pre twentieth century steel beams euglena steel beams right. well i certainly don't want him still being construction

and of course the elevator was important vention as well because people didn't want to walk ups more than four flights of stairs and so we've come a long ways with technology for building these buildings it's been it's been an enormous plus and you know it's natural that we want to build higher and more densely it's just that during certain times like we're right now. there's an over stimulus ation and there's it's which is requiring these companies construction companies the architecture companies to invent all new products all new elevators all new heating systems lighting systems and so we're doing a lot of things that are natural right now and that's happening throughout the. companies who are engaged in construction and. although it's been distorted as you say is to say low and in control thank you so much very interesting topic love to have you on more to talk about this dr marc thornton senior fellow at the me sense

institute and author of the economics of prohibit. but the battered board of japanese electronics company toshiba is offloading its computer chip business for eighteen billion dollars and it claws its way out of red ink its u.s. nuclear operations at westinghouse electric filed for bankruptcy earlier this year now after an earthquake and tsunami led to the fukushima nuclear meltdown in japan back in two thousand and eleven toshiba and westinghouse nuclear reactor construction took a dive also toshiba faces the main responsibility for controlling and decommissioning the fukushima plant to ship a story is one of the most dramatic downfalls of a major japanese company its nuclear arm western digital proposes are actually opposes this chip sale to bain capital and it's threatened legal action however toshiba says the deal will go through by march of next year getting it back in the black.

just four days germans will head to the polls to vote in the federal election like every other major race jobs and the economy of course on the top of voters' minds so could a new potential deal regarding one of germany's biggest companies sway the votes for more on this are about to find out joined by boom bust bianca for she bianca what kind of deal are talking about here we are talking about a merger that could end up cutting jobs in germany which is why some people think that it could definitely impact the upcoming election in just a few days after nearly a year of talks one of germany's most iconic companies is preparing for a merger these and group which formed in one thousand nine hundred nine after the merger of two heavy industry companies agreed to a preliminary merger with the india based. the new joint venture called these

include tata steel is expected to be in full swing by the end of twenty eighteen and will be based in amsterdam while the companies say the operation will employ nearly forty eight thousand people the deal will also lead to at least four thousand job cuts and with just four days until the german federal election that news could hurt certain parties the most recent poll shows chancellor angela merkel in a comfortable lead with her party at thirty six percent but her party's main competition the social democratic party is more at risk these include plants in six of the twenty two districts where the s.p.d. performed well in two thousand and thirteen so for voters deciding now it is a potential job cuts could make them change their minds and on monday cigar gabriel who serves as vice chancellor of the social democrats met with employee representatives however support for the s.p.d. has declined since the beginning of the year so even if it doesn't win the most

seats. it wouldn't only be because of that the some critical. well let's talk more about the deal what encouraged it the first place will simply put there's just been a major glut in the steel industry which depress prices and really hurt a lot of these companies there was also on top of that competition with china and cheaper steel imports it's about that it's not. absolutely so as a result we've seen a lot of merger talks so this deal doesn't exactly as a surprise we've also seen a lot of plants closed and a lot of jobs lost so obviously that last part is what people are most concerned about right now but the reason the businesses did this of course is because it is estimated to save them up to six hundred million euros and that was very warmly welcomed by investors no small change the u.k. government is concerned though about this deal how would impact british workers what can you tell us about that so both the government and unions in the u.k. already afraid of how it could impact the port talbot steelworks which is operated

by talk of steel now they announced last year in two thousand and sixteen even before practice that that they were going to pull out all of their british assets and close their plants but they're afraid that this deal actually does go through with that it could actually fasten that up and those jobs would disappear faster than expected but the key word there is if because right now they're only in the pollution area stages both sides still have to go through every detail ironed out to make sure that they like it but then they also need to get european regulatory approval and we know now it takes a long time a very long time so you know they want to get it up and moving about twenty team but it could take longer than that and not only that it must be worried that. if this deal goes through faster than expected how are they going to convert those workers into something else they're already having trouble with problems and getting their workers trained up enough in those industries right yeah and i mean another thing is that. obviously we know how the e.u. and e.u. bodies feel about it so if the u.k.

all the sudden is saying hey we're going to talk about how this is going to affect us we might not see as much sympathy from regulators about how it's going to impact the u.k. verses if this is good for the rest of europe right bargaining chips there thank you very much for this. having a baby is a joyous occasion and it's always nice to get a gift to welcome the new bundle of joy alas you aren't having a baby on tuesday plenty of amazon users got e-mails telling them that someone had bought them an item off of their baby registry as you can guess most didn't have a baby registry let alone an actual baby those who didn't have kids reached out to amazon confused and a few asking the company if they knew something that they didn't the problem has been corrected but it's important not to be a crybaby about those things thanks for watching be sure to catch

a boom bust on direct t.v. you can find us on the art teacher at all three twenty one and if you miss us on direct t.v. catch us on youtube youtube dot com slash the best r t thanks for watching next time. all the food we don't. have the. get it out of the old. according to. the bar probably.

here's what people have been saying about rejected in. fact it's full on. the only show i go out of my way to you know what it is that really packs a punch oh yeah it is the john. all over of marjorie america is doing the same we are apparently better than blue things that i see people you never heard of love redacted tonight president of the world bank very funny girl write me seriously send us an e-mail. all the world. and all the news companies merely players but what kind of part is r t america r.t. america offers more artsy american personal. in many ways the news landscape is just like if you real news big names good actors bad actors and in the end you

could never you're all. so much parking all the world's all the world's a stage all the world's a stage and we are definitely a player. on larry king now i will put. this little cited above still love to. you know inside a character. exploring things about yourself that you have marked out you're letting kind of humanity for flow through to you in a way you're a vessel for other things i've member when i first got offered the role it was just there they want you to consider playing the president in this movie and i see it is a college so i couldn't believe that i was person to. my son's an actor now larry he's twenty four years old he's a been in for movies in a t.v. show and he's doing well but we're in this movie.