my. the securities and exchange commission says its corporate filing system was hacked last year and the nonpublic information which hackers stole may have helped them profit illegally a government watchdog points to deficiencies in the agency's computer systems which put the information at risk the f.c.c. says that while the breach was discovered in two thousand and sixteen the illicit trading based on the information seized was only discovered last month the f.c.c. files financial market disclosure documents through its edgar system which processes over one point seven million electronic filings in any given year and as he sees statement went out without an explanation of the hack or why it was not revealed sooner. and of course this comes after a massive security breach was discovered at credit monitoring giant equifax

affecting more than one hundred forty three million americans according to officials that was perpetrated by a glitch in its software. it was the last of the federal open market committee meeting yesterday and like many expected is left us with promises of another rate hike before the end of the year and unwinding of the fed's four point five trillion dollars balance sheet starting in october but we need to dig deeper so please welcome from new york danielle de martino booth she is the president of money strong and the author of fed up an insider's take on why the federal reserve is bad for america ok so we know your opinion on that let's get to this balance sheet the fed says october is the start date to trim the huge holdings it has on u.s. treasury mortgage backed bonds and securities by spending ten billion dollars less

on those bonds beginning next month figure that will eventually reach fifty billion what does that mean now that the government has actually given a timetable on this. well i mean it means that we're actually finally at the list point i mean this is something that i was jockeying for back in two thousand and thirteen so i'm i'm really happy that they're finally starting the process i think they i think said officials are a bit naive or they're trying to convince us or they're trying to convince themselves that this is going to be something that they run on autopilot i don't think that when you own a third of anything and they happen to own a third of all mortgage backed securities. them stepping back from being such a large presence is going to be a nonevent to the markets all right let's talk about that convincing that might be going on in the background in a bit but we want to know the fed's core consumption metric as we know is the personal consumption expenditures index is resting below two percent as yellen referred to if we see it climb we could see three hikes in two thousand and

eighteen but take a look at this according to the u.s. bureau of labor statistics it's consumer price index showed some gains last month rising to point four percent in august barely moving up one percent in july what do you think about the focus being more on the consumer price index over the p.c. e index if the fed continues to lean hawkish towards their meeting coming right up in december. i mean this is like watching fed officials have a collective out of body experience they've been so reliant on the core p.c. because it's always been the lower number to pay so that they can be dubbed ish now they all want to look at the c.p.i. and be hawkish next thing you know we're going to wake up tomorrow and they'll be watching the headline c.p.i. that incorporates food and energy prices were we just might you know go to the moon we might normalize interest rates if they keep on this path will be in recession before that happens but they certainly are singing

a different tune right now ok let's talk about what yellen said about the hurricanes in the natural disasters hitting the atlantic coastline said the hurricanes aren't going to affect things in the medium term your reaction gas and rent has gone up. yes they have and if you're a family in houston or if you're a family in jacksonville who was flooded or shot or charleston south carolina hotel room prices have gone up look we have fresh data out today that showed in three days just three days of record keeping that sixty seven hundred mortgage delinquencies popped up just in the houston area they're expecting for september's numbers to be magnificent i understand and appreciate that bill dudley is educating janet yellen on the after effects of hurricanes being net positive in the long run but they're referring to one hurricane not one two three category four hurricanes

the last of which had the mayor of san juan puerto rico come out this morning and say that residents there could be out of power have no electricity for upwards of six months these are real things i don't think anybody has any records as to how the economy will be impacted short term or long term by three hurricanes ok so you've mentioned exerting authority there's a shrinking pool of fed permanent voters as we know we talked about that last time you and i were together but we see the fed opened the door to a rate hike in december based on this statement do you think it's pretty much over on him and it's going to this is the statement the tone of yellin press constantly dudley is clearly exerting his authority as chairman excuse me vice chairman of the federal open market committee he knows that the next time the fed meets that there will just be three fed governors he makes the fourth prominent vote and he is

definitely leaning towards financial conditions being so easy because the stock market refuses to pay attention to anything hawkish that the fed says but he is leaning towards those easy financial conditions to give him and unison to. pushed through that december rate hike and by the way twelve out of sixteen members of the f o m c if you studied that dot yesterday were on board for a december rate hike one of them wanted a fifty basis point hike in december i sure would like to meet that individual duly noted on the stock market reaction from yesterday let's talk about the media's love of yellen her chairmanship is a bit in question coming up in february president trump has talked about a couple of different replacements do you think the balance sheet on winding lends itself to that. look what they're doing it right now with the balance sheet unwind the reason for the timing because they sense that this recovery is long in the

tooth which it is is there effectively going to be hamstringing the next generation of federal reserve board members because they would have to effectively put the brakes on in order to stop this process that they've called automated and told us will not be data dependent so we could see the tealeaves begin to scream out right recession and according to what the fed said yesterday and janet yellen in her press conference it won't matter they will keep running down this balance sheet no matter how much effective tightening occurs because of it ok let's talk about that seat janet yellen mainstream media seems to like her they seem to want her to be in line i think this is her job fair taking it appears to be i tell you i'm no conspiracy theorist at all but i was flabbergasted at the amount of obvious leaking to the media before this meeting and yes there's definitely

a little bit of quid pro quo going on because all of mainstream media is on bended knee praying at night that trump keeps yellin because she's a no known. right you and i both saw well some of the wires a lot of the editorials of the information coming out if we see. the raise in their benchmark index that the fed use is over two percent they're talking about a three. times three in two thousand and eight maybe more in two thousand and nineteen what do you say to that if they stick to the same index. again lindsey we've spoken about this before i don't put too much credence in any economist forecasts especially where we are in the cycle but the implication of three more rate hikes in two thousand and eight is that the fed succeeds in creating engineering the longest expansion in post-war history and the stats own data the

new york that's now cast g.d.p. is now suggesting right now the current forecast is for growth for the entire year two thousand and seventeen to come in at one point eight percent that is not what we call gangbusters and it's certainly not an accelerating economy thank you so much for this daniel de martino both president of money strong and the author of fed up an insider's take on why the federal reserve is bad for america thank you very much thank you. back in made moody's investor service changed its outlook on china over deck concerns that in june s. and be warned it might make a similar move and months later it finally did. he has more on that for us now we are going to did s. and p. do this for the same reason yes so the main concern here moving forward is the growing amount of debt in china and both agencies are really afraid of the risk it

carries for the future on thursday s. and p. global ratings downgraded trying his long term sovereign credit rating for the first time since one thousand nine hundred ninety the country went from an a plus to a double a minus due to a consistent build up of debt in a statement the agency said the downgrade reflects our assessment that a prolonged period of strong. credit growth has increased china's economic and financial risks the decision comes just a few months after a warning from the s. and p. on top of the similar move from moody's but it's not just credit agencies that have voiced concerns earlier this year at the international monetary fund said that china's jump in credit was on a quote dangerous trajectory it also predicted that china's nonfinancial debt could soar to nearly three hundred percent in two thousand and twenty two per two hundred forty two percent in two thousand and sixteen meanwhile the bank for international settlements suggested last year it that a banking crisis could happen within three years so the outlook for china isn't

positive making many wonder how the upcoming communist party congress will go and meeting only happens twice every decade and sets economic policy for the next five years ahead when all of that is coupled with the financial sanctions from the u.s. over north korea aggression that leaves a lot of questions especially when it comes to the banks. we don't even have time in the show to cover the north korea right now exact let's talk to china's response to its credit downgrading these people are abandoning building projects right left but they're still going so by the time china was downgraded markets were closed the finance ministry was in there after hours period time of day so we haven't seen any comments in response to this tweet no nothing yet i mean maybe by tomorrow or time but if they do choose to respond we shouldn't expect them to actually spooked in any sort of way they'll most likely point out their economic growth this year in

the second quarter of the year they were six point nine percent growth which was above their six point five percent target and then cast in similar situations they just say you're not looking at the entire scope of the health of our economy so you know no comment as of now but we can expect them to just kind of push aside they're not going to be prioritizing what moody's or fear. sure the s. and p. has to say right they had to have foreseen something like this by the communist party congress what can we expect there well we have about a month to go scheduled for october eighteenth and in this current news cycle that's a very long time away he knows it's going to happen until then we can expect that president will definitely remain in power or we can see changes to the leadership lined up behind him you know adding new people or maybe removing others but like i said this is supposed to be a time where they lay out the economic plan for the next five years but a lot of analysts are saying we'll probably see more politics related policy discussed here rather than economics because of the situation in north korea this

earlier today trump announced that the china central bank is now forcing some trying these banks to totally cut off north working with north korea at all imports we've seen sanctions earlier this year. in announcing that they're trying to really isolate certain chinese banks from the u.s. financial system over their connection to north korea i don't know about you but it seems like we're waiting for maybe a surprise a double barreled approach they've got this credit downgrading they've got abandoned building projects state run companies in big trouble with borrowing too much producing too much and then north korea it seems like it's going to be an uphill battle for china to come out have something positive to say that we can handle this country think yeah i mean i think right now the biggest obstacle for them is going to be north korea i mean your debt levels i guess. for a year it's truly unbelievable and most analysts search what you did thirty five percent by two thousand tornado warning to the i.m.f. that's what that's what their estimate right now but you know in terms of diplomacy

with the united states if north korea i mean there are so many things are sort of just with north korea forget or any sort of other economic related issue in china it's all going to be about north korea right now so next month we'll see what they have to say at the congress but it's all eyes are on north korea at the moment all right thank you very much appreciated. time now for a quick break but stick with me because when we get back brand safety in an era of mobile advertising my guest says it's time to set up and take notice also the epithets crisis consumers call for help on line and are sent to a fake web site as we go to break check out the numbers at the closing bell.

include a. c.e.o. working thanks. to. the young man would be just moments ago multimedia. i could introduce you eat it it's going to do most drug syndicate. while you're growing marijuana

tomatoes it should get pulled there's a big good deal of the full grown people at the motley. fool nobody wants people. to be. most times the government knows what they do and they do nothing. the strength of the european union was very detrimental for the development of local and regional economies and only if these economies are developed and. recreate a livelihood for the people they will be in the final event see the stop of this i

mean gratian from these countries. nobody knows what a marshall and. islamic states claims it was behind them on just a terror attack by the north front so kill the priest every time a terrorist attack happens all these people are out there screaming i says so bad someone needs to do something against them and for me was like yeah why don't. you. kill all of them for. that if. you challenge them.

and you kill innocent. the federal emergency management agency is scrambling to catch up to this year's hurricane season hurricane maria is currently decimating the u.s. commonwealth of puerto rico this comes after hurricane hit florida which was preceded closely by hurricane harvey which smashed into texas in late august taking almost a fifth of u.s. oil refining capacity offline earlier this week president donald trump signed an emergency declaration for puerto rico which makes available emergency aid which will supplement the commonwealth's local response efforts as fume of funds are drained by these disasters congress is working to inject billions into its relief

efforts as the damage mounts in the meantime fema has restricted spending to what it calls life saving life sustaining response efforts for harvey and for irma without more injections of cash the agency may be desperate to deal with what's coming as united states has not yet reached peak hurricane season. and digital and mobile digital platforms both of them they've changed the metrics of markets marketing and conversions and it's bled into brand safety my guest says addressing a brand safety whether large or small or personal is long overdue so set up and pay attention my guess explains why please welcome michael dell pierre co-founder and c.e.o. of conversion pipeline thanks so much for coming and talk about interrupt me facebook we got to talk to facebook. it's become one of the main go to places for digital ads and just last week it did announce a brand safety strategy to protect advertisers to so that they can control the

content. they're cross posting cross-platform and it's more difficult for facebook to fact check in for advertisers to fact check if they're actually even making money on these efforts it's expensive it is i think one of the fundamental issues for most advertisers is that they can't control where the videos are going to be shown you can't control that it's hard to really get a hold of your brand the facebook is not only just if you think of facebook ads the videos within your news stream on the right hand side of the audience network that you know what you may not know that your ads may be shown on some websites that your brand may not be acceptable with if you have an adult branding you're showing it on a teenager's page or vice versa you know you're showing you're showing and add and a page or something totally inappropriate you don't want your stuff there correct and you're being charged by the impressions you're pre-charge a lot of questions how do you also track who is doing what on your ads that invading privacy because that's been a big issue right now one thing is that facebook and google they report on how many

times your ad has been seen as well as viewed into one linked to your video has been viewed but that's pretty much it now you know if somebody clicks on the video or clicks on a link a method video that goes back to your website you have that within limits but also that you're pretty much depend upon facebook and google telling you what the analytics are right so if you click on it to expedia you get the hotel where they can follow your phone g.p.s. to see if you go to a hotel that's a massive invasion it's been talked about let's talk about impressions versus views versus a click it's a metric but what about auto plays right we see them all the time they're annoying but they pop up and pop up so our advertisers being taken advantage of and are there protections for these brands strangers yes if you think about it facebook's a huge mobile player if you're on your mobile phone. and you just scrolling through your thumbing through you'll see a video although place does seem pressure in the view where if you're on your desktop you may go all the way around in

a big impression but on the sort of you so they are taking advantage of the advertisement the laws are having a difficult time keeping up with innovation i think they have no idea when they're going to themselves and to the government they never do ok procter and gamble something a giant said that slashing its digital advertisement budget by one hundred forty million for brand safety concerns what does that even mean you believe that is this just cutting fat how can they do it i don't i don't in the reasoning is that we're going to put the money going t.v. you know a bill or are they going to put in billboard radio print no it's not what they're probably doing this reshapes on the budget maybe from facebook to other avenues and words i don't want facebook's the biggest google ok maybe being made to display advertising and guess what that's still on the google display network so you know what they're doing they're shifting money from one sector to another one ok let's shift over to the european union we have talked about privacy issue both got their

hands slapped to the tune of millions of dollars could be billions in the future european advertisers want brand safety european union wants. user privacy it's huge over there can these brands get in line with politics europe asia the middle east. the short answer is no not yet because the problem is that technology is evolving at such a fast pace it's hard to kind of put parameters on what is acceptable it's not acceptable if you think about it how would you go to a web site if you leave that website to go to another website they see an ad for that website you were just on right shoes i do it all the time to treat targeting right some people say that's an invasion of personal privacy and what point do they say enough is enough no one has that sort of litmus test or parameters yet europe has tighter parameters than the u.s. and do interesting to see how they. operate there you're a convergence man you deal with this do you deal with clients who are super concerned about their clicks turning into conversions because either way it's money

for these big platforms it is in a lot of times if their goal is branding videos great if their goal is legitimate leads or purchases videos not so hot really it's not ok what's that what is hot just photos content gets its search ads so if you search for shoes ok you know exactly the name brand shoes that you want to get a search google is going to pop up right with exactly what you want the same size everything you know the price facebook's not going to do that. it's not are you talking about the side ads or the branded ads paid for ads at the top that people tend to click on when you do a search on that search and it's it's going to be the top think of it this way google is more proactive because it kind of knows what you want based upon the user pattern when it is a marketing tool again it is facebook's more passive facebook target users based upon interests so faced with we know that you love shoes and you may be searching for shoes so it may show ads based upon your interest level what's the biggest

problem for clients that you deal with as they move forward small brands don't tend to know as much are they willing to pay big money to learn this or do they think it's a shortcut and what do you have to tell them about this it really is a return on investment everyone has limited budgets i mean look at procter and gamble right i mean there is a mill i was just right so they're not willing to spend money on video advertising why is that because they're not seeing the return on investment. what about. do you have any personal clients or no. celebrities things like that you get their content out there it's taken advantage of maybe it's making big money they're not making big money on it i mean that's something that people do wonder about in the advertising world. brand personal brand protection so to speak it's tough once it's out there it's out there right people love to be able to be able to monetize wrath of south of the certain platform if you look at it google facebook their search and they're able their enablers yeah right now whether you're

selling a product whether you're selling a service or whether it's a specific brand that you're promoting these platforms enable you to promote this and in order to make money off of the lawsuits do you ever tail with brands bring in last hits against companies like this who say hey these were our advertising agreements and your stuff just ended up on a very adult website sorry i think most advertisers don't know or don't care or maybe i think they do care i think they just don't know and you'll be surprised i've had clients say hey i have nobody in my ad was placed on this one website and then if you look at the facebook audience network there are some pretty shady websites that are out there so you'll be surprised the reason why they had that is to be able to increase impressions why increase impressions that increases what the towards the end user or the client. is a lot of money to be made out there good work i appreciate that there's someone out there that's actually talking to people about this because it's confusing to me and i think it's confusing to a lot of people and it's confusing to the client it's wall to know why it's very

self-centered even if it's not really our sample thank you so much for joining me today michael's up here co-founder and c.e.o. of conversion pipeline thank you. after they had crisis of credit monitoring giant equifax a fake customer help page popped up. line it was actually created by one of the company's engineers to expose equifax as lax security efforts well the company accidentally linked to it and it racked up two hundred thousand hits before it was taken down the fake page was upfront about its fake chastising of equifax for using the domain name equifax security two thousand and seventeen dot com which is so easy to impersonate by phishing sites this equifax cyber attack expose the personal information of more than one hundred forty three million americans and could have

been prevented by a software fix months before it took place thanks for watching everybody be sure to catch us on directv you can find us on the r t channel three twenty one and if you miss us on direct t.v. catch bin boss on you tube youtube dot com slash boom bust r t thanks for watching see you next time. well you know we have adopted because we were called pirate. there in the small boat if you don't harbor what you and.

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a. lot of. like. north korea threads it's a hydrogen bomb in the pacific just hours off the washington stop the state with yet one. more sanctions. the. fountains alone and demanding the release of a dozen regional officials arrested by spanish authorities madrid calls catalonia upcoming independence referendum illegal. and almost ninety percent of syria's now free from islamic states according to the latest figures from the russian defense ministry but the country faces a long road to recovery.