with for that stand by the let's start right now. donald trump obviously but his latest stop on his eleven day tour through asia the audience was specific economic cooperation summit let the united states be taken advantage of that he doesn't blame countries for do name it had his usual top line talking points america had been treated unfairly but shame on itself for letting it be fooled over and over again he highlighted the united states bad deal with the country right now it maintains its sixth largest trade deficit with vietnam it totalled thirty two billion dollars in two thousand and sixteen another issue of tension at apec regarding the president is his decision to pull out of the trans-pacific partnership a trade agreement which would link eleven of the world's economies many of their representatives who are in attendance. the world's second largest economies opening

the gates for foreigners to own majority stakes in its companies on friday the chinese government announced a new policy which will cover the futures securities and funds markets as well as insurance sectors as a part of the sweeping reform agenda of president xi jinping and this comes after he cemented his leadership and his place in chinese history at the communist party's nineteenth congress full ownership in banking will start in three years for the insurance sector it will follow suit in five this was a focus of meetings between the chinese leader and donald trump earlier this year china's benchmark c.s.i. index closed the friday session at point eight percent. higher it was actually reaching for two thousand and seventeen a high right at four thousand one hundred fifteen point nine one points to be specific and boeing general electric qualcomm and ford motors were also on a list of deals linked to trump's eleven day tour.

digital currency bitcoin experience a flash crash of twelve percent this week after reaching another record high of nearly eight thousand dollars and ether the second most popular crypto currency has had hundreds of millions of dollars frozen due to a computer coding error there are some questions about wallet owners ever getting the money back here to discuss is former u.s. trained commissioner bart chilton important point he was the first regulator to actually speak out many years ago about the importance of regulating this when you originally raised these concerns about the need for some basic regulations because it was only this computer generated like alternative currency sort of there's still a void when it comes to regulating these but to things like these computer glitches with that coin and flash crashes prove your points because how do you ever get that

money back if it's not regulated they do and you know when there is something like this either a flash crash or you know people or i mean in this case it's over two hundred million dollars lindsey so you know it's a pretty big deal and if you're one of those folks you are concerned about that that often when there is a calamity like this that often propels congress or regulators to take an action and as we know a lot of times government over reacts and so you know a lot of folks originally when i started raising the road forward about how digital currencies need to be regulated they thought i was their enemy and actually become their friend i think it through. i will walk chain is what everything's going to be based upon all payment systems in the future but if they don't have any regulations if they don't have consumer protections they're likely to be over regulated my concern is that would floor innovation and i think we're seeing that around the world the coarsening going to anger at the purists but then the people who want to talk mainstream and make big money seem

a group recently announced that by the end of this year it's going to announce a futures product you used to regulate seems board to trade is this a good thing or is this are they being i want to say cavalier no i think it is a good thing and here's a couple reasons one it does bring some of the digital currency futures on the digital currency into the regulatory fold i mean and c.m.e. is actually pretty good at this stuff i mean i've watched them over the years and how they deal with regulation and they're very proactive and you know they look at as their brand too if something messes up it will come back on them they don't want that so things like a flash crash you know when there's a circuit breaker that is a stop when trading starts moving up or down too fast see a meal stop it so that didn't happen the other day in the crash for bitcoin but if there's a futures on bitcoin it will stop at seven percent one way or another down or up at thirteen percent one way or another and if it gets to an aggregate of twenty

percent move a market move around day trading stops that's it go home so you wouldn't see these huge declines or huge increases because of regulation and secondly started a little long winded but secondly they back up things so if you and i are trading in you know cyber spear and you know i don't somehow make good on my commitment you could be well like the ether wallet holders a little million things out there that could you get the concept because that's something a lot of people fear but it seems to me it would you would be able to go ahead. and they would back up the other person's trade even if they fell back all right but at the same time with c.m.e. you talk about it being sort of a guard against think stream a lot of people like those extreme highs and what we've seen all the share was what nine hundred ninety january and now we're up eight thousand people want to see that they're feeding off of it do you think that's a drawback to some people who kind of feed off of this well is it astronomical

skyrocketing i think that for it to be a a long term any current whether or not it's big corner ether or something some digital white knight that will get it right in the future i think they're going to have to be some stability right you can't see what's been going on i mean i do think there's a little bit of a bubble out of there i think that in part prices have been increased because of the confidence that sort of been a listed from c.m.e. offering a contract and there are other reasons that we've talked about and some different ones about why prices may be increasing for for bitcoin but we'll have to wait and see on some of these things well you wrote an op ed recently in farms about you had an interesting take on why prices for have risen so rapidly it seems to me if i had to guess it would be these emotional reactions by people explain what you call the digital lake of liquidity ok but you know what you just raised that real quick the emotional connect that's what it is a lot different than just investing in crude oil or gold or and you know what is it

going to somebody to leverage and in that they're they are really they're not in it to make double their profit right they're in it for the long term they think this is the future of finance and they might be right so good point on the you know the emotion attached to it but what i've talked about as a digital lake of liquidity and that lake is created because all of these other coins that are coming on board there's one hundred of them that are doing not an i.p.o. initial public offering but in i see they're trying to assess is going to block that well they may they may they may have but it's happening right now one point two. billion dollars in the first three hours of this year in these i suppose and how are the i.c.'s being funded people are not taking their wallets out and giving them dollars they are buying bitcoin or they are buying ether and then ether and bitcoin because it is so convertible is easily and it's also used for payouts funds these icy hose so the whole i.c.a.o.

and digital ecosystem is actually propping up ether and bitcoin i talked mainly about bitcoin i mentioned ether but i've had some people say to me hey you know you got a little bit wrong bart it's also ether but the bottom line is we don't know because there's no regulation there's no transparency there's no disclosure so as they say in the newspaper inquiring minds want to know what's the israel is it true even if you're paying for the articles it's true. do you think i just got to ask we're talking about you know south korea japan i hate to use the word cavalier but we're talking about bitcoin so i'm going to jail i think it's a bit cavalier that they're opening their doors so much and of course china russia even said no a lot of regulators in the u.s. say you know keep it out until we can regulate it using the countries opening their doors really wide like japan just dead is why does he think that you know why not for the thought that it's not going away we're going to have

a digital economy it's happening the question is how do you do it and as you know we spoke when i was in hong kong recently the hong kong of the hong kong monetary authority they are totally embracing digital and all all things been tech and so there's lots of great things that can happen and i think being proactive in regulation just not overly zealous is the way to go right and unfortunately when you don't do it you find things like that happened in russia. china south korea where they ban not only the trading and but they also the initial coin offerings and that doesn't help anybody it but i think what it is is regular. stop it just take a t.m. out and then we'll get back to when we can figure out the appropriate sideboards to how to go forward right well they're going to overdo it and then retrench if you know if it's good for them thank you so much very exciting here to talk about best always a pleasure former u.s. attorney commissioner mark tell always great to be with you thank you. time now for a quite break but stick around because when we return to work it's

a bunker after bob on the road to keeping a hold on a second biggest market in london and the host of the big picture halakhah joins me to discuss holiday shopping madness is right around the corner and we're going to take a look at growing trends in consumerism and delve into some tendencies that may surprise you will be right back. this time to deliver to the people to give yourself an. overall we're sure we have many things in this world and this is an e-mail for everyone and why some people's

minds so take our thing all the power just for themselves and to see what you may think we will. apply to many flips over the years so i know the guy even so i got. the ball isn't only about what happens on the pitch to the final school it's about the passion from the families it's the age of the superman he just killed in their own lives and spending two to twenty million fly a. book it's an experience like nothing else really. because i want to share what i think what i know about the beautiful guy my great to want more chance with.

the next morning. european union is pressuring the united kingdom to make haste the e.u. on friday piled on the pressure to square away pertinent divorce issues before trade negotiations commence next month and the deadline is about two weeks. after another inconclusive negotiating session both sides said differences remained on vital divorce issues including britain's bricks and bill of course following the near second is the progress has been made the bit in every divorce money britain has said it will pay to settle commitments it has made to the e.u. budget but has not agreed to the estimated bill of around seventy billion dollars.

the gig economy has turned the typical nine to five job upside down the freedom to create your own schedule is one of the biggest selling points that companies like google use to lure employees but some cities could be putting an end to that for good. he has more on that for us on friday suffered a major blow to its business that could change its entire operation in employment tribunal in london which is the company's second largest market ruled that drivers are employees instead of contractors. these companies are choosing not to give these workers the holders they're entitled to the pension contributions are in total truth in minimum wage and there's essentially no consequence government is doing nothing to make these companies obey the law. the decision follows a similar one made last year and means who will have to pay drivers

a minimum wage and offer time off that also comes months after london's transport authority banned the right charing app from operating in the city at all despite the barrel of bad news driver said they're feeling more optimistic about we're following friday's decision. the only solutions. for our app existed trips sent to them logged in time plenty of questions remain about twenty five thousand streets and your concerns these drivers have way or the highway but they don't really have a good thing or that you're going to yes the big companies market has changed so people are doing this because they actually need the additional income it's not fun so that's why a lot of these companies like who are running into problems where their employees are saying well we're not just contractors we work full time and this is my main source of income so we'll ever have to also underestimated the power of foreign unions because here there is this push the at the fight with the union the union

breakers and the software but over there it's a completely different environment do you think they just didn't know enough and go in with enough education and what they were actually going to come up against or they just wait for calamity to yeah i think part of it is maybe they just didn't realize how successful it truly could be and also they probably didn't guess how many members of the older generation might end up working for them because if you're talking about a bunch of millennial that are the drivers on the weekends they don't maybe they might not care as much about getting access to health insurance or a pension plan but if it's somebody that's middle age that lost their job or maybe you know wages have been stagnant they need extra money to help pay for their kids to go to college it matters for them and then when you're looking at was put out of business because of these rate it will come a big problem in major cities where they have blackouts or even in new york city where the cab system has been established for hundreds of years mean it's a major disrupter you want to get an education help in a london black cab and talked about it over yes. i'm not at all interested in

a lot of i feel your pain or i think you thought i might have been listening. oh it's that time of the year just before the holidays when we see manufacturers and retailers respective trend forecasts each has gathered data points of the last twelve months they crunch their numbers and then produce a show we see their predictions of what's really going to sell who they're going to sell it to and how much joining me to pick behind the curtain of all of this is the host big picture hello ha it's time on boom bust so i know obviously i can play in the big room and think ok i know right studio and here you go look you spent some time getting pretty big event c.e.o.'s unveiled yeah it's beginning to look a lot like christmas in new york where we got the big download yesterday from the consumer technology association who every year at this time releases research on

the big holiday spend which is about a third of all the usa tech spend this is a two hundred ninety two b. billion dollar industry just in the states and one hundred seventy million of us are going to drop ninety six point eight b. billion on stuff under the tree that batteries did not come included with every parent's worst nightmare you know absolutely starting stuff about a battery that's actually very good idea. what it can just ask men versus women it is spending what on one is not a false stereotype because how much never and let's just be on a depends on who you are and then we'll spend more than women if you've got kids you'll spend even more and if you're an early adopter the c.t.a. research says you go up a notch and they're going to be buying drones and alexa like crazy and the demographic sweet spot for this industry is. thirty five to fifty four so that's

who's big on tech this year ok so it's people who were using tack i would say you know before it became sort of this millennia old thing couple decades before on into the people who started using it in college so people have got a longer time span with it and they're more comfortable with it now which mainstream think about you left your phone at home you do a u. turn it's unthinkable not to have that when i can't handle it you couldn't do it i can tell you right now i back up what are some of the things that are hot items that that we've seen in the forecasts i mean they're collecting data all year long it's got to produce something now surprisingly while we expect to see the shiny objects like drones big and that will be one of the top ten gifts you know the number one gift people want for christmas this year is a t.v. that's not new and we all replaced our t.v.'s during that digital transition in two thousand and nine but these new four k. smart t.v. you're right with the right who and all of that the prices have fallen i can't

imagine how best buy has a margin left but that's the number one gift the number two gift we want laptops think about it smart phone number three and we have a new one coming out the line is snaking around the apple store just to get your name on a list so a lot of the old stuff is what people want the new version of for christmas i have a hunch about that do you think that's the birth of netflix and even apple t.v. and things like that have three people's t.v.'s but from being plugged into cable television do you think that's fed into this you know the cord cutters or driving the cable guy or insider in the nuts and the cord frager's the one who have dropped their premium channels because amazon netflix spending big bucks to create original programming nobody loves their cable company except for internet access so the genie is out of the bottle and the networks are now trying and h.b.o. are now trying to catch up to the dot com t.v. . yeah they've got a totally flip around what are some of the things that really stood out to you when

you were there the. tech or not shopping habit has changed we used to talk about black friday it is now black november the door buster special you were talking about this now ten years ago we probably wouldn't be here already has a cyber monday ten twenty years ago was novel we already shop for paper towels online gift shopping is not a big leap and interestingly the day in between small business saturday there's big business behind it it's being funded by amex because they're trying to gain favor with the retailers who resent the commish and they're trying to get back into their good graces and they're providing support material and videos and other tools for the mom and pops the small business saturday best buy is a product that comes with a story and the shopkeeper will convey the story to you so that when you present

this gift so thoughtfully it comes with a story but if you want to t.v. you're at a big box yet no gear you're absolutely not going to go get a carrot and television now and we're buying online like crazy don't loiter estimates eighteen to twenty one percent even more than last year which was huge increasingly on a smartphone and i thought one of the data points that just jumped off the powerpoint yesterday at this briefing was that people are now asking aleck so where the door buster specials are that's scary because while alexa can find your stuff online but then they're asking her if they actually want to go outside their front door and increasingly shoppers are as we say on our t. america questioning more because same day delivery is huge and they want to know the return policy and you're better off for free returns and free shipping you just better what if you noticed about black friday itself with regards. staffing up and

hours because some people are doing this hey after we finish turkey dinner i know skip turkey dinner come shopping and other people are saying no we're going out it's just wrong you know wal-mart the country's biggest retailer is going to open it a minute after midnight thanksgiving morning and you know that there's going to be people all bundled up in lawn chairs like an event from happening and then they're going to trample each other when the doors open but america's biggest mall the mall of america is being minnesota nice they're not going to open on the holiday so it's kind of like chick fil a being closed on sunday they're making a statement all took place i was making a statement on what your opinion on the old school versus the new school of black friday shopping approaches i ask everybody that's do you think we should keep it traditional and keep the employees home shut the door they'll come in the next morning i buy a stack of whatever i think the thoughtful book is for half a dozen friends and clients but i still want to go to the mall yes still want to feel the hustle and holiday bustle and all go into good dive and get

a stack of those for appropriate people because i would feel as though i missed it if i didn't go shopping it's an event it really is thank you so much for input on this hall and co-host of the big picture. thanks for watching be sure to catch big boss on direct t.v. in the united states you can find us on the r t channel three to watch and if you missed us on directv catch a boom bust on you tube youtube dot com slash boom bust r.t. thanks for watching see you next time. prescribe medication is widespread on the u.s. market and a frequent cause of death at that point in my life i just felt like everything was ashes my family was literally coming unglued i had actually planned.

we were. we were being responsible. with them so. they all.

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was. was a. saudi led coalition airplanes carry out an air strike on the ministry of defense in the. us air force claims a missile that was launched on saudi arabia from yemen on saturday was iranian made this despite denials that had supplied any such hardware to rebels in yemen. wiki leaks founder julian assange says that u.k. prosecutors have admitted to deleting e-mail exchanges concerning his case.

this is hard on thomas glad to have you with us and saudi it led airstrikes have targeted the defense.