media giants and the relatively new business data and the paradise paper's conservative t.v. and radio host steve malzberg joins we take a look at the damage and leak it details the money hidden in offshore accounts by big names we'll look at the political fallout which is sure to come. true bastar right now. is not fair and it's not open u.s. trade deficits with japan sixty eight point nine billion dollars in two thousand and sixteen with a total of one hundred ninety five point four a day between the two last year the top item on this visit you guessed it is to solidify support for thwarting the nuclear threats from north korea as he makes his way through south korea china vietnam and the philippines he has announced plans to meet with russian pretty on the sidelines of the east asian summit. no secret that the world's richest people stash their cash offshore but it trove of new data shows just how many big names and powerful leaders are actively avoiding taxes in

two thousand and sixteen and donald trump's cabinet. that right there is u.s. secretary of commerce wilbur ross has a stake in a shipping company that receives millions from a firm owned by members of russian president vladimir putin's family an inner circle some of whom have been sanctioned by the u.s. treasury department after the news was reported ross told c.n.n. he see that it was quote totally wrong for him to not disclose his ties the link also exposed how queen elizabeth invested some of her private money in offshore tax havens while there is no suggestion that her estate acted illegally some of those funds were invested in a retailer accused of exploiting poor families and that prompted an immediate response from british lawmakers including labor party leader jeremy corben. please understand this the public anger and consternation the scale of tax avoidance real revealed yet again today we're talking about tens of billions that are effectively

being lynched of all public services by a super rich elite that holds the taxation system and the rest of us in contempt we must take action now to put an end to the socially damaging and extortionately costly scandal and that's not all stephen bronfman an advisor and key fundraiser for canadian prime minister justin trudeau also moved money overseas to avoid taxes it's a bad look for trudeau who rose to power promising to fight tax avoidance and income inequality on top of several other leaders from jordan uganda and brazil just to name the major businesses also like amazon apple and facebook they were named as well. joining me from the political implications of these documents is conservative t.v. and radio host steve malzberg steve

a lot of big names on this how damaging do you think revelations like in the case of wilbur ross can be to people's careers here. well i'll never understand why somebody is savvy and smart and educated in as well as a wilbur ross wouldn't disclose this in the first place that could be problematic i don't know though and i think he has said that it's not illegal in his position it's problematic because he's now in the administration but i think the key here is nothing apple has been accused of doing in these paradise papers having an english channel island where they have their money is illegal queen elizabeth using the cayman island fun but the cayman islands is an illegal i don't see and all of that i just don't see illegality i think this is to. play the culture of class warfare populism or look at these evil people evil corporations evil famous people

trying to avoid paying their fair share but you know what we when i say we i mean the less richard famous do it on a smaller scale we have accountants we deduct this we deduct that if it's allowed to happen if it's not illegal i hate to say it but there's not much wrong with it do you think this is sort of a social pressure campaign obviously there are a lot of people who hide money in very illegal ways and very bad ways but let's talk about you know they know they the political pressure is put on some of the people whose names are on these accounts and do you think this is sort of a social pressure operation and some kind of salute how will that have here i mean . no absolutely it's all about that it's all about saying how dare you i mean there's already outrage at queen elizabeth and i maybe there should be how much money does does she have but again i'm not one to says you don't need more money you have enough money no matter how much you have for making all the money you can and having all the money you can so she invests legally in offshore at the cayman

islands and that said but it looks bad it smells bad people won't stand for people living paycheck to paycheck so i think you hit it right on the head lizzie this is the room people socially politically and to have the public face book of turned against russia and are recently but now we find out that this guy named yuri milner who invested big time in twitter during that he used a russian bank. bank that was under u.s. sanctions at the time so all those shares that were bought came from a bank under u.s. sanctions and also he has another bank to invest in facebook i wonder what twitter and facebook are going to do now and get what they're going to say about that i know are you anticipating any backtracking on this i've got and we've heard a lot of backtracking. you know playing the victim and things like that do you think we're going to see some public backtracking on the part of his to media companies. i don't know i just think i think most people will ignore it

and let it go away that's usually what happens to news stories these days because tomorrow will be on to the next big story but i just again i just want to stress there's nothing illegal in any of the stories i've seen and not about the paris papers maybe there was some and yet for the highest yeah yeah well well what you're talking about here is you know on thursday the republicans held a press conference and they didn't mention this all by the way there are there are so many brackets for brackets but if you make a million the next two hundred thousand if your a a single the for. if you have a million if you're single a million too if you're a couple the next two hundred thousand will be taxed an additional six percent so the rate is forty five point six percent of that money and that is outrageous this is all from the democrat playbook pushing the wealthy pushing the millionaires and i don't understand that and i predict and i hope i'm right that that will go bye

bye when the senate passes their own version of the two come together and make one bill a lot of people were waiting for this we saw that postcard the said simple and people are waiting for the shoe to drop thank you so much for joining me conservative t.v. and radio host it was always a pleasure thank you this includes the arrest of friends. whose kingdom holding company own sizeable stakes in fox time warner citi group twitter apple and motorola the arrests are part of a purported antic corruption probe led by thirty two year old heir to the throne of crown prince mohammed bin solomon separately a high ranking prince and several other government officials were just killed when a helicopter crashed in the south of the kingdom. the turmoil had investors as you can imagine wondering if oil supplies will be constricted which would then of course drive crude prices higher benchmark u.s. crude oil rose three point one percent to fifty seven dollars thirty five cents

a barrel in new york at its highest price since july of two thousand and fifteen brant crude climbed three point five percent to sixty four dollars twenty seven cents per barrel in london. according to a report from the international energy agency india's renewable energy production capacity will more than double in the next four years that puts it on course to overtake renewable expansion in the european union for the first time ninety percent of that growth will be in solar and wind power according to the i say india says it can reach a target of one hundred seventy five gigawatts of or nubile generation by two thousand and twenty two given its current rate of expansion its energy needs are set to double within the next seven years india's government says that by two thousand and thirty renewable sources will provide for two fifths of its electricity needs. we're going to go to break now but stick around because when we

return the mysteries of how we spend and say my guess joins me to discuss why we do what we do with our wallets and addicts he explains where we could be saving more plus we take a look at how effective and through trust laws are controlling big business as we go to break here's a number of the closing down. i

played for many clubs over the years so i know the game inside out. the ball isn't only about what happens on the pitch pull the funnel school it's about the passion from the fans it's the age of the superman to just kill the narrowness and spending two to twenty million on one player. it's an experience like nothing else i want to because i want to share what i think what i know about the beautiful game played great so one more chance for. a nice minute.

here's what people have been saying about rejected and then it was to us it actually was full on ourselves is the only show i go out of my way to lunch you know a lot of the really packs a punch. is the john oliver of margie omero is doing the same we are apparently better than that and i see people you've never heard of low or down to the next. president of the world bank so very. seriously send us an email. it's time to talk about how we spend what we make how are we so easily captured by the murky deals offered up by marketers the free shipping those super sales what about the five dollar beverage we happily buy and vacation that we won't pay more than one dollar for here and how why does buying the item with the more expensive label but no added value sometimes feel so good my guest has

a pretty good idea of what's going on in our heads joining me now dan areality the author of dollars and cents how we missed think money and how to spend smarter interesting read here in your book you mention how j.c. penney a good example here attempted to do fair and square pricing which gave a set price that would have been the final price after they had raised and discounted the product to customers didn't like it they hated that concept j.c. penney lost over nine hundred million dollars almost a billion because of that why did this happen. so what happened is we have to think about how do people assess value how do we decide what something is is worth and the reality is it's very hard it's very hard to look at like a piece of clove and say how much is this is worth so what do we do we look at relative value relative to what relative to past prices so if something used to be to cost one hundred twenty dollars and it's now seventy it looks like it's great

a great deal if you just seventy what do we compare it to not very clear so j.c. penney for a long time had this relative comparison everything had a high starting point and a low discounted price and people are said to themselves not in an explicit way this is amazing value let's get it once the price was just fair and the regular price but without these high reference price people could not assess the value in the same way they couldn't figure out whether something is a good deal or not and they basically bought much much less now it's kind of an interesting thing that you can think about it is a mistake on one hand right if something used to cost one hundred twenty it's now seventy why is it a better deal than if it used to cost eighty but on the other hand it also says that it's really hard for us to evaluate things in a general way and we need help we rely on cues on your wrist ticks and different strategies to help us figure out what something is worth worth and there's lots of

cues like that in other another example is the question of fairness. imagine you come to visit me i live in durham in north carolina you come to visit me and you park and you look for a quarter in your in your pocket for the parking meter and you don't have a quarter and i pass by and you say hey do you have a quarter and i said yes i have a quarter of sell it to you for a dollar most people say i'm not interested i'm not going to spend a dollar for a quarter i'll take my chances with the parking authority but think about case number two the same thing you can you park you stop you don't have a quarter i stop buying you say excuse me do you have a quote and i say i don't have a quarter but there's a bank five blocks down the street if you want i'll run down fast as they can i'll come back and i'll give you quarters but if i run all this distance for you how do you feel about giving me a dollar now you feel very happy giving me a dollar now in every possible way you're worse off you have to wait for

a few minutes you get sweaty coins but why are you happier because there was effort involved so many times we think we assess the value of what we get the reality is we use all kinds of irrelevant cues what was the historical prize how much somebody ran for us in those things help us figure out how much you're willing to pay for something that kind of explains why people who earn their money versus people who were handed their money have a different idea of the value or need the appreciation of that what should we be cautious about this neck in asm the free shipping mechanism we see by retailers free shipping but there is the surcharge on top of that that we don't see to circumvent the loss for the free shipping. yes absolutely so imagine the following case imagine sell you something small and shipping and together they cost five dollars in one case i say the shipping is free the thing itself is five dollars in

the second case i say they each are two fifty in the third one they say this thing is free shipping is five dollars in all three cases the final payment is the same people feel very differently about those things the worse one is the one in which we don't get free at all we pay two fifty for shipping and two fifty for the product it's better to pay zero for the product and five for the shipping and the one in the middle that's the best one the best one is free product and five dollars for shipping in the one in the middle is that you get three free shipping now what that suggests is that the moment we have the word free it kind of pushes a hot button for us like an emotional map and we say if it's free how can we lose it has to be a great deal and then we go for it and and there's a little trick to fix it because the only thing you can do or one thing you can do is to ask yourself how would they behave toward this offer if it wasn't free if it

was let's say twenty five cents and if you basically see that you would have behaved differently you say i have to drive all the way across town to get this free whatever if it was twenty five cents with a drive all that way and if you said yourself no i wouldn't do it for twenty five cents then don't even do it if it's free well sort of a standing versus spending versus saving you quotes rough out there am or send money up and costs too much saving versus spending a misconception people have when it comes to that you have some pretty interesting explanations on your part. well first of all we have to recognize that saving is very tough saving is about novice's later it's about abstract versus concrete everything you have right now is concrete and it's now everything in the future is later and what exactly are you getting if i want a new bicycle now it's now if i'm saving five hundred dollars more for retirement what exactly am i getting and we need to recognize that those trade offs are

novices later are things we don't do well in general we don't eat too well we don't exercise and it does look for a one k. automatically reaction personal rules otherwise if we're going to have to face the decision every time will fail not every time but will fail way too often to pay yourself first of all it sounds like good old fashioned self-control something that's kind of hard to find right now if you watch great but great read dan ariely professor and author of dollars and cents how we missed think money and how to spend it smarter. looking at this going on i don't know how to squint your eyes tilt your head eighty five billion dollars merger is it actually violation of antitrust laws in your perspective preparing paperwork for any sort of eventuality when when this leak was told to the media everyone freaked out oh there it's going to be blocked but in

these types of mergers traditionally they're not blocked they go forward all the time you know lindsay the last time the justice department went to court to block a vertical merger was in the carter administration that's the 1980's so not for a long time have they gone to court to book one of these deals do you think the government has been aggressive enough in applying antitrust regulations in the united states well there's a lot of sentiment especially in the democratic side of the the answer is no consumers have suffered from higher prices and list choice because of the lack of aggressive and i trust them for spent well there's one interesting marriage that's being the subject has been broached anyway broadcom limited semiconductor manufacturer has has it's heading home from singapore they're repatriating their company it's a fortune one hundred company and it's made a one hundred three billion dollar offer to competitor qualcomm some people say this would be an example of antitrust others saying. it's pretty hard to see

how consumers will be better off by the two biggest. manufacturers combining would create a monopolist that would be in the trophic position to significantly raise the cost of the smartphones we all depend upon right it's sort of a public just maybe test the water there what do you think about data the law seems to always have to catch up with technology and technology companies two thousand and ten google snapped up software airline data company it had to promise not to. others access to this data for five years cut to two thousand and seventeen some companies relying on that data are getting cut off by google is this an example of something that shouldn't have happened or it's something that regulators are going to have to keep on top of more in the future with the ownership of data. is a really complicated subject and it's one in which the antitrust and forces are

becoming more and more sophisticated right propre at least so it's tremendously important resource and it's not something like manufacturing we were talking about looks out of an asshole or the e.u.'s screaming about this lenses frames we all know about ray-ban perfect example you say this is a perfect case of a problem combining the dominant frame manufacturer with the dominant lens manufacturer is going to make a witch's brew. environment in which consumers will suffer from less choice and higher prices what's particularly problematic here is looks owns the most dominant . insurance company in the united states and that puts it in the gate keeper position where it really can control competition. strict choices force consumers to use only looks products consumers will pay more and suffer from that kind of arrangement but after some of these deals are closed it seems as if regulators take

a long time to catch up alcoa. had similar practices a long time ago decades ago where they they just own the industry no one could compete and it took years for any movement to be made legally do you think that it takes too long for the government and regulators to catch up to these cases well there's a world of difference in the world the manufacturing world we lived in fifty sixty years ago the pace of the. wasn't quite as much of a problem but in the kinds of high tech markets where do. with today we really be sophisticated and i trust approaches that connect rapidly to deal with change rapidly changing market what's been happening for exotic and to for well be you is giving it a thorough scrubbing also of the federal trade commission is in the united states and hopefully they'll either block the deal or seek a really strong remedy to protect consumers and competitors thank you so much for

joining me on this attorney david thanks so much lindsay. thanks for watching be sure to catch him on direct t.v. here in the united states you can find us on the r. t. channel three two one and if you miss us on direct t.v. catch her bus on youtube youtube dot com slash the must r t thanks for watching the next time. the financial tape on the financial parasite is in the body economic and is destroying us from within this predation that's happening in the pharmaceutical industries just other aspects of the host that we have become for the parasites and the pharmaceutical industry and australia and other various industries and so

what's the cure for how to get rid of the tape how to get rid of a parasite. willingly accepted the risk of being shot wounded taken prisoner but not signed up to be poisoned by our own people that was leaked or biological and chemical products the said do not truck tires all types of styrofoam polystyrene batteries trucks there was a complete denial i think it all. levels of government that there was any connection between burn pits and what these brave soldiers were suffering from to copy it so the waiting in decades a lot of those soldiers will be. leveled was selling you on the idea that dropping bombs brings police to the chicken hawks

forcing you to fight the battles that still please the new fox predator tell you that so be gossip and tabloid by fell for the most important.