i'm lindsey francis is the bus broadcasting around the world in washington d.c. coming up japan's deal is in trouble it's down for new cases of taking action it's losing the quality feel on its proper product and the european central bank says it will ease the pace of its bond buying stimulus program it will have its bond purchases to thirty five billion dollars per month starting in january and my guest weighs in on the phenomenon of the four a one k. plan in america the opt out feature offers and introduce love to a human nature he explained by the above start right now. according to the st louis post dispatch amazon has been granted approval to operate

as a wholesale pharmacy in twelve states over the last several months speculation was rife that the online retail giant would enter the field of medicine importantly amazon has kept quiet about dabbling in prescription drugs it never spoke about pharmaceutical expansion and is not responding yet to this story in june amazon announced a fourteen billion dollar acquisition of whole foods and now has plans to sell a smart lock allowing deliveries to be slipped into your home when you're not there . and we've got a vote for a four trillion dollar budget and most likely drastic tax reform in very short order the house narrowly passed the budget some say and shelves the longstanding concerns over federal deficits and instead deliver on the revamped tax code which republicans have promised for so long but there are holes in this and it's time to explore that joining me now steve malzberg a conservative t.v. and radio host so great to have you down in d.c.

with us yesterday but it's great for you to join me now after we've got a vote on something right off the bat what's your take from this vote it was close to sixteen to twelve it was close because twenty republicans voted no in a protest vote and from what i hear a lot more republicans who voted yes did so just to move the process along look the main feature of this is that it's the senate budget as was as is they they voted they passed it and this now enables the senate to pass tax reform with just fifty one votes they don't need the sixty vote threshold so that was the main thrust of this however in the process they did adopt a budget here that fiscal conservatives aren't too happy with so there was a lot of you know downside on that if you are true fiscal conservative but let's focus on the tax issue here the reasons why twenty congressman voted no all levon of them from new jersey and new york as we have talked about has now become come to

be known as salt state and local taxes that's the issue that might hold up tax reform in the house and senate because it would take away the deduction for state and local taxes and in states like new york new jersey california pennsylvania constituents will get hit very very hard because they have high state and local taxes one remedy might be that they're talking about is to allow property tax deduction just not income to. state and local income tax so we'll see where that goes but they no mistake about it this is good be a battle along the way very entertaining i can't wait to get the popcorn out of this one look we're talking about murky areas let's talk about retirement contributions we've talked about this we heard from congressional republicans today it won't be touched trungpa said it may be used as a bargaining chip that kind of slipped out of his mouth sideways the other day what do you think about this our deductions are you really slashed. i think it's on the

table i think for a one case where if you contribute through your company's program it's pretax money ok so it doesn't count as income and you pay on the way out when you retire you take the money out you pay tax on it is income right now a person could contribute eight hundred thousand dollars if you're over fifty it's twenty four thousand dollars they want to slash it down to two thousand four hundred dollars and what this would mean is a lot of people would have much more income coming in and have to pay taxes on it so it's a ray of raising revenue however the good news if there is any it's kind of like a roth ira where you pay with post tax money you know so to speak but when you take it out later you've already paid tax on it so it's kind of six of one half dozen of the other kind of but there's also other issues here that out of the four a one k. issue in the salt issue but now they're even talking about hey will we even have the doing away with the whole inheritance tax the estate tax i mean that the death

tax so that might not even be in there but with all this being said chairman brady wants to get a proposal out by november first he wants a committee vote by november sixth and he wants this on the floor by thanksgiving. and that's a that's a big turkey to cut open and i've got to ask you just real quick before we go is this just shelving concern over the deficit because a lot of conservatives were really dragging their feet on that. yeah i mean a lot of them just just swallowed and gave in because you know this will this will contribute to the deficit the tax plan is a one point five trillion dollars over ten year tax plan that will increase the deficit you know contribute to the deficit by that much over that time the hole is that the economic growth that will spur will negate that somehow thank you so much they come down to washington again soon would love to have you down here thank you guys i want you to write it on this conservative t.v. and radio host steve malzberg thank you.

the american for a one k. system has kept many in the middle class afloat in retirement that's why its placement in the tax reform proposal has people so very very concerned but it would not have helped so many people through those years had it not been for that automatic enrollment at play all you've got to do is opt out but people don't tend to do that so let's take a look at how that happened and what it's meant for americans who face retirement joining me to discuss is professor david henderson author of the joy of freedom and economist odyssey and research fellow at stanford university's hoover institution look we've got to talk about this it's tax reform time the four a one k. opt out pretty much took away choice and saved people i mean it didn't stop them from choosing but it made it simpler so no one had to act they were just unrolled and they saved and you give credit to the recipient of the two thousand and

seventeen nobel. prize in economics richard failer you wrote in a recent wall street journal op ed that he is the guy who developed this theory that we act in our own best interest explain that to me please. well first of all we should give credit to his co-author bridget madrina also who was a big part of this but yes richard thaler so the standard economists assumption is that we are rational we think clearly we make choices clearly and carefully tailored challenged all of that and said we tend to go with just very kind of rule of thumb kinds of things and we're very stuck in in whatever sist situation we're in so it's hard for us to make change so he said it would matter whether and bridgette midrin mattering said this too it would matter whether the default is that you're in the for one or the default is that you're out and for many years the default was that you were out you had to take positive action to be in the program

and she got a new dream and god who was a failure student i believe or certainly junior colleague got a company to experiment with this and found that when they had the old standard style default that you're out unless you choose forty nine percent of people chose and when they had the new one seven the thing was seventy five percent of people seventy eight percent of people chose so it really mattered and. so that kind of fit his theory and so just by having the default be that you're him people say keep more people in the program and therefore save more for the retirement age and it was always easy to get out and use it to fill some forms but it really mattered it's filling out those forms to get in or to get out a lot of people apparently don't want to do that and let's take a look at the wider base of america that back in two thousand and six lawmakers used his research to improve our four a one k.

automatic enrollment systems you can see a sudden spike in the number of people in for a one ks greatly increased after that two thousand and six piece of legislation two thousand and five to two thousand and fifteen it went way up we're looking at about sixty percent there people are saying. let's talk about tax reform if they don't have those retirement account deductions what do you think will happen to this. well as my understanding of tax reform and i'm not defending this but my understanding is they limit the deductions to something like the number i read in the new york times twenty four hundred a year which is below the max a lot of people can do now. so but i think they replace it with wrong and so i think you could set up an employer could help the employee set up the same thing so if you did go to the roth ira you could still have this automatic automatic.

you're in luck. you know so i don't know that it would matter right but that takes a positive action time to think that without going to where we're going to and eighteen thousand to twenty four hundred it's a bit shocking to a lot of people i have to put it in necessarily take a positive action if they change the law on roth's as well as for one of those without a right there senator you know what i mean just kidding ok failer also divided the population into cons and humans and you shed some light on this in in what you wrote it comes or considered it economically rational people humans are not i tend to be a human i don't know about you do you agree with i don't speak. but what do you think about that do you agree that this is kind of how we're divided up i do and i think i do tend to be an econ but i think it's partly because i studied economics and i was already a little that way but it made me more that way it made me think through more

carefully lots of decisions and so i think that's right i think it was right of him to notice the importance of this and to apply it all over the place one thing i'd like to see them up and apply it to go is government officials because they're humans too and they're making decisions for the rest of us so the costs of their bad decisions can be orders of many orders of magnitude greater than the cost of orbit ok so you're saying that all law makers should be a constant all incomes should be lawmakers is that right is that what your tone. makers should be const but they won't be ok let alone the fact that they won't be and let's try to limit their power ok so behavioral economy and the economists that follow are considered sort of friend not so much now what sort of the public's perception of you folks. of economists surveyed major all economy havior only economists because i'm not one of them i'm just sympathetic. i think the public

perception is fairly positive to the extent they learn about it so say or even made into a movie the big short explaining to selena gomez about the hot hand and why the hot hand is is a must is not true by the way it's wrong there's been later evidence and stuff but still that his basic point is right people just have way too much confidence in the lot and in in basketball or whatever so before we go do you think that less choice is better for people when it comes to making the best decisions for their self-interest. i think those two strong statement thaler were probably say that but i want to advocate choice or so let me give an example ok let's say you have a choice between living inside syria or in or and or north korea versus living in siberia north korea and united states more choice is clearly better. and this is very true thank you so much for your time president david henderson author of the joy of freedom and economists odyssey and research fellow at stanford university's

hoover institution thank you you. thank. time now for a quick break but stick around because when we return a judge in the u.k. says a former h.s.b.c. head of currency trading to the u.s. to stand trial wire fraud and more anger in catalonia the spanish region's president and voters are now at odds as we go to break here at the numbers at the closing bell.

guys are financial survival guide liquid those that you can. really. be keep in mind as it's me into a place. for. anyone and you go there. to risk it. but. the relationship between. it was suggested. and a fairly strong one there were two thousand. and the study it's a very extensive study done by

a well respected scientists. do chemicals that the appetizing. crease the risk of cancer and i chose a means of known to damage in the launch of test is it a sham that skepticism they do not believe that that risk is as true by independent scientists so did the industry. compensation for my time as well as you know others why is that in the me too hobby definitely do like what we've been doing and if you want to learn more you'll get a definite on. your. back. is it big business against health. as it started.

to panic over you feel that thursday it had found four new cases of fake inspections data in hundreds of its products used in all sorts of equipment such as cars trains and aircraft eighty eight out of the five hundred twenty five companies affected by the falsified inspections have not yet confirmed the safety of their products in question japan's trade minister said thursday that he believed the problems at the one hundred twelve year old company are exceptional and not systemic the country's quality assurance agency withdrew certification for some of its copper tubes. and the former head of currency trading at h.s.b.c. in london can be extradited to the united states to face fraud charges a london court granted the united states a request to send stuart scott to face an american court over eleven wire fraud charges each carries a maximum of thirty years in prison scot maintains his innocence he argues that the case is u.k. centric and that the u.s.

is acting far too aggressive in asserting its jurisdiction the judge at his extradition hearing disagreed stating that the conduct in england had far reaching implications which were felt in the united states three days earlier his old boss just p.c.'s mark johnson was convicted of by the u.s. justice department with defrauding a client in a three point five billion dollars currency deal johnson faces up to twenty years in prison. since the beginning of october protests and town halls have taken place all over spain as the cattle and region vies for independence but the catalan president just announced that the region probably won't be leaving anytime soon who. has more on that for i'm knocked over first catalan president karl less pledged among declared independence from spain following

a regional referendum immediately following that spain's constitutional court ruled it illegal forcing please demand to ask for talks with the other side before officially declaring anything and now the spanish government is ready to trigger article one fifty five on friday which lets madrid take control of institutions police and finances it will get people to the gold triggering article one fifty five is to restore legality as i suppose you will want to live in a country where the law is applied if you don't want that you see it and count on the coexistence that has been broken in catalonia and tackle the economic consequences the decisions are. causing the application of article one fifty five is an exceptional decision since it's an exceptional decision we wanted to last briefly and that's why the process ends with a call for elections now when i want it but when elections can be held to normality so that makes the road to independence a little more difficult on thursday approved among clarified that he will not be calling for a snap election saying i was ready to call an election if guarantees were give it

there is no guarantee that justifies calling an election today after madrid threatened to seize control of catalonia his government he initially thought a snap election can give the pro independence movement leverage and most of his supporters didn't see it that way and protested outside of catalonia government buildings to show that and several pro independence lawmakers emphasize that they won't take no for an answer there. we are completely opposed we don't see any other scenario apart from the declaration of independence and the proclamation of the riposte. somebody should be republican constituent election this is what is designed to be in the blueprint written and approved by the sovereign long in our parliament system with both sides fairly budging a compromise of any sort seems unlikely and the spanish government is expected to strip him on of his powers but of the forty three percent of catalonians that participated in the referendum ninety percent voted to leave which means the debate

probably won't die down well most of the chaos has been contained within spain and the rest of the e.u. remains on edge as it awaits another potential brics it scenario. speaking of scenarios what's the chance that the loading up actually get to done and leave spain well said that to stand up to parliament now because he couldn't confirm that if he were to have a snap election in december that his powers wouldn't be revoked and we all know we're probably not sounds they don't want catalonia to separate from spain so it's looking pretty unlikely and it's also looking likely that he will be. because the prime minister of spain made it very clear that he wants him out of power but you know like i just said also of the forty three percent of people that participated in the referendum ninety percent said they wanted to leave so even if they were placed him and spanish parliament says this is over it's a done deal really going to be a done deal at least for the next few weeks yeah that it's all got to play out with the economy right what does mean for spain's economy well it's really more of

a question of what this means for catalonia as economy you know good question right now i mean they're both good questions but recent government figures show that fourteen hundred companies that were headquartered in catalonia have left just since the beginning of october so that's hundreds of companies per week that have left their address yeo the moving their headquarters to elsewhere in spain ok so you know it's unclear right now exactly how that impacted things like employment but it does pose a lot of questions here now that catalonia will likely not be leaving spain does that mean they're going to move back or does that mean they're going to can't continue to look at catalonia as a problematic area to avoid problems down yes down the road are they in the say maybe you shouldn't try to expand there and impose a lot of questions for post breck's it in europe because a lot of companies which obviously can't really. control the outcome have to create their own contingency plans and also be ready at the drop of a hat to actually enact it not just have one as

a safety net they're saying can we actually have to go through with this because our business could be severely impacted and clearly these companies did not take this as a joke they got up and quickly they're going to stick with a sure thing i mean i think a lot of people think they're just going to stick with the strong spanish government yeah and i hedged their bets so much boom bust bank machine. european central bank will ease the pace of its bond buying stimulus program it is carefully dialing back a measure that has. help the eurozone bounce back from a debt crisis that threatened to break up the currency union b.c.b. will have its bond purchases to thirty five billion dollars per month starting in january and keep them going until at least september two thousand and eighteen the bank kept some flexibility in its statement though e.c.b. president mario draghi says that although the eurozone economy is growing strongly it still relies very much on monetary support notably their druggy refuse to call

their production a taper instead he called it a recalibration. and amazon is expanding it turns out it's been approved as a wholesale pharmacy and as many as twelve states and now it's letting people into your home it's got a new smart lock system which allows deliveries to be left to right inside joining me to discuss legal and media expert lionel of lionel media lionel did you hear this news we got late in the day that amazon has got some approval for as a wholesale pharmacist what do you think about that. brilliant we knew that was coming that has to be you know i'm serious why not because there's no reason why it should not infiltrate every aspect of our lives everything and you know what they'll do next they'll come in and bring our drugs endora homes maybe when we're not there

i mean after all they're in our homes they're in our lives they're listening to us why not but that's the idea rugs why do you have to be deported hooper that's the idea is not a good idea you've got to be on drugs to go along with this is look at what if you're arthritis medication that's not bad. oh i'm not saying you go to i could go to the mailbox money ever do you understand what's happening here this is the overton window this wonderful degree of of acceptability and what we're being is we're being how big and conditioned to this all in compassing world of amazon everywhere we go everything under the name of convenience look it's terrific i'm all for this but now they're going to come into our homes they're going to be in with amazon key they're going to have a camera you're going to pay them to watch your all they're going to come into your

job when you're not air ads are there already listening to you they're going to look around and snoop around and what you'll do like go barking say oh. you know just go along with it because we're becoming less mean because look at this we're becoming slaves to this and you laugh. but this is horrible god we're giving or. others are some are they take everything out of my life my soul of taken by children or how what what i have never seen the likes of that that is something to behold right there the barking seal accusation that is that is really to be our four years of a goal what they're doing is they're going to clean out the halls of congress with this and this is how millennial we're going to jump on this bandwagon it's a great idea right and then all of a sudden their little house cameras they have to protect themselves when they're

deliveries are sent are going to catch all of the stuff going on in their apartments and no one will run for office because there's too much dirty laundry on them. momente goals don't listen to harm don't know to do it too they'll do it don't listen to or listen to me i see change quite line i do ask you this though in all seriousness in all seriousness i do ask you this do you wish you owned amazon stock answer me seriously i wish i owned amazon ok well least you can admit that you would pay your good honest camera the subsidy of course it makes sense that the ideals. are now do it or thank you so much for your wonderful information on this legal media analyst line of line on media. oh saudi arabia has made a move that would make isaac asimov nervous they've granted citizenship to an artificial intelligence it's called sophia and thanks to a very uncanny valley looking robot body it can interact with real people

a reporter managed to interview sophia and a lot of online speculation it held a conversation with him saying that it was it's a our i was designed around values like compassion wisdom and kindness and also seems to have a sense of humor when asked about preventing a future that looks like the movie blade runner sophia said quote you've been reading too much of one mosque and watching too many hollywood movies don't worry if you're nice to me i'll be nice to you that sounds terrifying thanks for watching everybody be sure to catch boom bust on direct t.v. in the united states you can find us on the are two channel three two one and if you miss us on directv on you tube youtube dot com slash boom bust our thanks for watching see you next time. about your sudden passing i've only just learned you worry yourself and taken your

last wrong turn. you're after caught up to you as we all knew it would i tell you i'm sorry 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 . but then my feeling started to change you talked about more like it was again still some more fun to view those that didn't like to question or are. secretly promised to never feel like it's one does not leave a funeral in the same as one enters the mind gets consumed with this one to. speak to us there are no other takers. to claim that mainstream media has met its make. how does it feel to be a sheriff the greatest job in the world it's as close to being

a king as any job there is what business model helps to run a prison now we do this do or don't like us here nobody oh visitation i don't no one comes anymore we don't have to serve them anymore there's a cult effect if that's what they want to do that as long as they don't give a damn if you believe the charge on that they're actually paying us to put it back and. the louisiana incarceration rate is twice as high as the usa breach what secrets is behind such success. when although. they. may know it's this and that and the not to run and then still get the message in the feel i know there's no subtlety. i'm just.

used on the sofa for. myself indeed i must but if the other lot of them off of the . bus on the she does the downside of the militia. kill it then i'm open to it is the food out of this not so be this not be but i mean. look and you'll. get to live it up with a. here's what people have been saying about rejected and this is a full on awesome we only show i go out of my way to find you know what it is that really packs a punch. yeah john oliver of r t america is doing the same we are apparently

better than blue. sea people you've never heard of love jack tonight president of the world bank he doesn't really. seriously send us an e-mail. spain's prime minister just said his country send it to suspend consolo he is autonomy is pleased to said to senators k. literally just minutes ago as they prepare to vote on taking back direct control of the region we'll see live pictures there from barcelona with this could potentially have a huge effect big story take note today where across the another big story to twitter gets us blocking our ads accounts in the latest attack on russian made here and we'll tell you the latest on that one as well plus two today the multi billion dollar cyber security industry.