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 so you 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 you can be able 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 been better than it is right now and praised king abdullah for taking in a large number of syrian refugees saying quote who knows what would happen without you reporting in new york one of the charges r.t.

trinity joins us now live from new york tony 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 and that is 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 genuine clues 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 that forty plus trillion dollar balance sheet to hold its 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 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 days alex and i love it he joins us in toronto with more right now alex tell us how the norwegian fund is reaches milestone so it's a surprise even to the norwegians the western europe's debt star 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 fund it 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 no we just we're looking at a population of about five point two million people basically every one of those individuals has the 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 nine hundred ninety 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 as 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 pond about one point three percent of the global market capitalization a 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 untouched 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 that's 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 there towards in 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 a bird is pond which was an established get this 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 they you know berta 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 will industry is completely state run by that 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 postgraduate degrees and oil country one in five cars there are electric there i had to basically everybody else when it comes to that was in is thanks to some from asian as well that's coming out of straight 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 closing down. for

europe. really deeply intertwined with the i think. the world through. everything even for. who's. so those are valid. ones so it goes to word would be over so it's going to lose. really exactly the world so. it isn't relevant to the. well you know that they were kind of adopted because we were called pirates for so long. i mean they're in this small ball and sticks it hard to achieve and it's.

not. the little self to be told fish already ninety percent of the dots need to fall in the common or. concept fifteen scoops seventy five times they do it several times a day with a big fleet oh you get an idea on why. we have to understand we can still use to just. be with them this will be. going to the hours. i'm doing this because i want them for the future world to future generations to have and enjoy the ocean we have. a. little bottle of the muscle in the. islamic states claims it was

behind the manchester terror attack by the militants front so kill the priest every time a terrorist attack happens all these people are out there screaming isis so bad someone needs to do something against them and for me was like yeah why don't we do something. you. know all those number. of cases. the. chinese hafiz whom. i used to.

but. it was. kind of it was. just she refused. to sit. for him and it's. never really know for sure but this is. when i started no i.

i. 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 their chrysler building right before the one nine hundred thirty 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 there 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 historical 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 relationship between the skyscraper in 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 feder up in marcus markets committee 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 dollars 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 competence 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 geo political 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 enormous amount of investment that's going into these mega

structures and basically i don't see this is a true recross coverage 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 and 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 how rise yet more skyscrapers you have more retail and commercial and then as you say overcompensating building and trying to fell it's just not matching up let's talk about a property analysts at dresdner kleinwort wasserstein he got this whimsical paper back in one thousand nine hundred nine called the skyscraper index fawlty towers that focus on these groundbreaking buildings just as you wrote. as you mention

going back all you know even pre twentieth century seal be you blame the steel beams right. well i certainly don't believe in steel beam constructions and of course the elevator was an 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 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 right now. there's an over stimulus. and there's it's which is requiring these companies these construction companies the architecture companies to invent all new products all new elevators all do heating systems lighting systems and so we're doing a lot of things that are natural right now and that's happening throughout the world basically is companies who are engaged in construction and. although it's

being distorted as you say is to say low and in control thank you so much a very interesting topic love to have you on more to talk about this dr marc thorn 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 as 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 to ship assess the deal will go through by march of next year. to get 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 well 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 was a potential job cuts could make them change their minds and on monday sake mark

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 syncrude. well let's talk more about the deal what encouraged it the first place will simply put there's been a major glut in the steel industry which depressed 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. going to be that 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 business is 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 small change the u.k.

government is concerned though about this deal what 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 said 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 bricks. it so if the u.k. all the sudden is saying hey we're hearing 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. versus if this is good for the rest of europe right bargaining chips they're thank you very much for this boom bust down. having a baby is a joyous occasion and it's always nice to get a gift to welcome the new bundle of joy at last you aren't having a baby on tuesday plenty of amazon users got emails 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 that 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 box on direct t.v. you can find us on the r t channel three twenty one and if you miss us on direct t.v. catch bin bots on you to you tube dot com slash boom bust r t thanks for watching see you next time. there's a strategy in betting called a market. yes the mark betting strategy that's like if you have the roulette wheel you bet on red you lose the bet on red again and you bet on red again anybody can tell you what hopefully they'll run out of money before you what is famously used on wall street firms like goldman sachs who make bad bets but says they have an open cash window at the fed with money limited funds at zero percent borrowing

rates they never run out of money that's why like all the sides of j.p. morgan can report thirty sixty ninety one hundred twenty straight days of profits on their trading portfolios because they don't take any fricken risk what about people that are not so smart. well you know they are they were kind of adopted because we were called pirates it's a long. i've been there in the smaller boats and if you don't harpoon ships and it's . not. the limo silted being told fish already ninety percent of the dot and it won't be calmer. you conduct fifteen scoops. five times trying to do it several times a day with the complete oh you get an idea right.

we have to understand we could not store used to just. be with this. all the news the old boy is ours. i'm doing this because i want the for the future world to future generations to have and enjoy the ocean how we have. right now we're in with a good deal seen over thanks to. these birds fish you leads. the young man with the mighty the us moments it's all multimedia tonight. i could introduce you eat it is home to bullets most ball full drug syndicate why you're

growing marijuana and north tomatoes that city yet get put there's a big good deal of the full grown people at the market affordable for you nobody wants the people. there. is no room. to be. very. close. must times the government knows what they do and they do nothing. but. the out completely.

most closely. watched the force of. i have really outnumbered group of russian military police repel a surprise attack by al nusra tyrus in syria. thousands take to the streets of boston learned to show their support for the upcoming referendum but madrid slams the region's bid for independence is nothing but a dream. which. dream. i am. i am. and c.n.n. is reporting that the campaign chairman was why a top by the u.s. government just have old months off to the same that would.