market and that's not all the f.c.c. also voted in favor of allowing media companies to buy several stations in the same market and for local stations to jointly sell ad time it will also become easier for companies to buy several radio stations in some markets and the decision is expected to pave the way for sinclair broadcast group to buy tribune media which has been widely criticized no word on how it impacts comcast and risings attempts at acquiring twenty first century fox so. oil exports from singapore grew faster than expected in october jumping twenty point nine percent year on year that's significantly higher than the forecasts compiled by reuters which estimated ten percent growth in back in september exports actually fell one point one percent the biggest chunk of it went to china where shipments increased over fifty percent followed by twenty six point one percent to the european union but sells to singapore's other major trade partners like taiwan hong kong and

indonesia declined since last year according to the government g.d.p. growth will come in at three point four percent which is greater than the initial forecast so that figure could change next week when the ministry of trade releases new data. as the digital world ten years to evolve more and more people are jumping in and that includes investors over one point two billion dollars has been invested in the first three quarters of two thousand and seventeen in the u.s. alone the investments are made and i ceo's are initial coin offerings i see those are akin to initial public offerings for i.p.o.'s where investors populate a company with capital the i c o's deal with digital coins and related digital technologies like digital currency exchanges and we've we've seen a lot of government action related to i.c.a.o. in the last few months and to talk more about. that sat down with dr nicolette cost

to step partner and attorney at the global law firm mayor brown first asked her to set the landscape or what's been going on around the world. here's what she had to say. so the big question right now is are they regulated or not. we have heard a lot of noise about the financial impact the risks but of course for them to be able to go through official legal transparent way they have to be seen and addressed by regulators so what we have seen now is as you've mentioned briefly some countries have simply decided to ban them you think of you think of south korea you think of china those are examples where they have been clearly banned now others for example we've seen recently mentions about russia about single poor and canada australia germany just to name a few were regulators have taken a position about addressing the risks so not regulating them as such yet but

identifying to risk the us went to a bit further but that's more or less the global status of those. fantastic and you know in some of those countries you mentioned just for our viewers they have also banned in china south korea and in russia they have even banned the trading of digital currencies so nicollette i mean you know global regulations all around the world but you are head of tech and compliance there in france tell us about what's going on in the european union with regard to ice ceo's . so that's an interesting question bart this week the big news here in europe is that which is the securities market with thirty which is more or less the umbrella that oversees financial securities regulators here in europe that start operating two thousand and ten there are more alas. the role is to make sure that

there's a uniform application of the directives and the regulation having more or less a single. rulebook but also making sure that they're looking at risks for investors systemic risk and also making sure that there's a convergence between regulators so as has issued this week port addressing both investors and firms identifying the growing number of i see happening around the world and therefore the different things that have to be assessed from the investor side some examples would be assessing you know if there is any money laundering issues if they are clear and transparent if we know who is behind them and from of course the firm side is are they're acting in the regulated are they acting not in contravention to any local rules and regulations so the idea

here is again to to to accept the fact that they are existing that they're happening right now but to make sure that investors know clearly that they might lose all of their investment capital and that is also clearly saying that it's an extremely volatile. product right now. and stephen may or the head of you know i know you've met with him before he's a pretty forward looking regulator and so that that's great on behalf of the what about in the u.s. nickel what what is the securities and exchange commission doing on i c o o's so that's interesting as well so yes you see the security exchange commission as you said has has been one of the first regulators in the world to actually address the potential qualification of. as possible tokens of coins being securities and therefore potentially falling on their federal.

securities law so they analyzed if you remember bart. o. . related to. a few months ago and what had happened then and the negative. resolve that had happened and some aspects of it they they had investigative report and they basically clarify that a token or a coin could not necessarily will but could fall under the definition of a security if the famous how we test which is which comes from of the nine hundred forty six securities. supreme court decision qualified identifies a security so we will see how it evolves will see how there it is that are being developed right now will be addressed on that aspect as well having the underlying . as as as a bit corny or a if you're any kind of virtual currency or token how it would be addressed but it's interesting to see that because singapore for example and hong kong have even

followed that first kind of assessment of the i.c.c. and the importance of trying to qualify it as a security or not if it does fall under the description of what a security is. what are the f.c.c. and sticking with them just briefly here nickel what i know they did something recently about celebrity endorsements of these ice so yours and my recollection is that the former basketball player dennis rodman adores a pot calling and i think paris hilton and this is part of the i.c.c. saying again be aware and make sure that that you are not just being influenced by subjective. subjective factors and you still have to there are risks like in any new developments there are cyber security risk there are money laundering risks so it's all about trying to see if we can work. through with their transparent

approach a safe approach for investors while always trying to find the right balance between you know making sure we are protected investing flicked it upon lebanon by saudi arabia is this a sign of things to come as the saudi royal family and more than hoffa million americans have been killed by firearms in the usa how to saute me as i did this is a middle school we go through drills and we put ourselves in real scenarios it was interesting to see who actually got hit by the gun i decided to return to the subject to track down each gun owner who i'd met and photographed those years ago i don't know this but we are not.

welcome to the wonderful world of blood donation i come here every three weeks to get my transfusion to be specific i receive immunoglobulin my body gets and some bodies that i cannot produce itself around the world giving blood is seen as a symbol of generosity no one does this because it helps people it's just one of the side effects is that it. applies more burning people to put their money on your car i'm really you know we don't have all plasma based drugs today come from private companies and are produced from paid plasma as well as compromise you know a motor car computer one of the risks of a donation in a day is proof that the frequency of pathologies is much higher in paid donations and. if i was blind when i. was over two years old he will go.

that's true and the blood business. the global economy has changed a lot since the two thousand and eight financial crisis and not everyone trusts the markets the way that they once did but not too long ago we learned that there is a certain luxury product that promises a better return than most stocks and even gold to hear more on this we're joined now by jeff burke founder of order hi thank you for joining us jeff you sell this highly coveted item which is the arm as birkin. but it's obviously not something that everyone can afford so for that reason alone is it really that strong of an investment. it's not so much not people can't just only afford it is the difficulty to get it even if you can't afford it and there's

a secondary marketplace where people are gladly paying those fifty percent over the retail if we can get one that's brand new and i've read a lot of these articles about berkman as a as an investment vehicle and they certainly appreciate and price every year as a present priest almost every year and but to say that it's squarely an investment getting out of it is only is reputable is the person selling them so it's as if a normal woman is carrying the bag and she thinks everyone's so eager for twenty thousand dollars if she jumps on e bay and tries to get twenty herself it's there's an authenticity concern great so the people the reason the birkin does so well as you just said is because it is so even if you have all the money in the world sometimes you can't necessarily get your hands on one so is that the secret to success in this very crazy retail industry right now to just sell something that you don't make. a commitment to quality you know however the demand that they've somehow built by design. not there

is still a high commitment to quality in the making of the bag itself the bag that you have in your mind's eye is probably forty to forty eight hours to make that thing by hand. so i think that a lot of people are going to where do you see not only just beauty but what they're getting for their money and you know. that's what it's so the economy and the job market has have both changed a lot since the recession and not everyone has necessarily felt the recovery so since two thousand and eight how do you think since you work in the industry how do you think the luxury goods market has fared. this comeback in a big way i would have to say the biggest thing they've done is really down on just in time manufacturing you know when the plane crashed it gave birth to this whole industry called flash sale which is gilt common rule on dot com and through a period of time you were able to go on and get why is gucci and polled the purple label at fifty dollars for a three day period. but then people got conditioned so if i'm

a pole customer and i roll into a wall in a way for gilt sacks calls polo they say killed and now the flour still industry is really going away ok well i want to ask you about amazon quickly because it's hard to talk about online retail without talking about amazon and they just announced that they're going to collaborate with calvin klein for an exclusive exclusive products but the one criticism of amazon is that it doesn't really have the cool factor that some of the other hand online retailers have so do you think there this new project with calvin klein is going to do well i'm sure it's going to do well but you know underwear is really much more a mass market product right then have her valentino pumps or an arm as burke and or . something we talk a lot about on the show is how the internet has just for up to the retail industry every industry but in particular retail but you were lying lot on instagram for yourself which i think is so interesting so what. it's not like creating

a company and relying on instagram in this very tough environment you know my wife had been tinkering with the perkins on e bay and she was studying the few other people that are doing this and she just came into me in two thousand and twelve she's like well no one's on instagram i can figure out the d.n.a. of this the hashtag bird can have thirty five centimeter and we just built a organic community that's like eighty thousand people now and we put up a bag and i have that and that's a real back to two million this year and over fifty countries thirty five percent of our business is the middle east so what is the difference between uploading pictures from your home on instagram versus e-bay or amazon. for our level of game on we do have an e bay store and then all in all honesty people know who we are so if there's a bag on e bay that's thirty thousand bucks they're probably going to pick up the phone and calls directly on that you know this very sophisticated customer that's a woman who knows that hey maybe i can get a deal or hey if i water them the money at least i could save maybe three percent on the credit card fees and charge me so since you're you know pretty reliant on

social media is so big for your company what is what are your security concerns because obviously everything is done online so how do you assure people that you're not just a thief. and why are you one hundred thousand dollars on the street or on the street it's really it's just just like there's a huge community of guys that are motorheads and they just follow these nine hundred sixty seven mustangs they talk about it all the time there's a parallel universe where there's hundreds of thousands of women thing like purse blog and they're constantly do you think a preview porters i want to use them or they would and just work on the street constantly delivering stuff on time sounds like you've gotten up there at time jeff burk founder of pre-date porter thank you so much for joining us. stagnant wages higher car. of living and expensive college degrees it's no secret

that the american middle class has felt squeezed financially but there could be another factor we've been overlooking that's having an even bigger influence here more on that we're joined now by devon fergus author of land of the feet hidden costs and the decline of the american middle class. devin i want to start out by talking about your book land of the fee which you say the explosion of fees has been overlooked when we talk about wealth inequality so what do you mean by that sure. he's have risen both in the public and private sector over the last generation and those fees are increasingly. grows in areas of mobility housing education employment and in transportation and so it becomes a barrier to the middle class and so i know you just mentioned a few of them but the four main areas in your book are housing work transportation and schooling out of the four which is which has the worst when it comes to sure there's a great question i would probably say the the worst is perhaps one can argue student

loans and often because the first major fee that people face customers face and also has a sort of hidden hangover effect and so student loans. you get the student loan get to do loan payment. it increases your debt to income ratio which means that they lose your credit score which means that she raised your interest rates for for a home mortgage in order to buy a car or whatever consumer product you want to purchase is so your average person who takes out to loan us two or three graduating seniors takes twenty one years to pay off their student loan knowing it's going to continue to increase over time so how and when did this buildup of fees begin i mean did it start with one particularly industry. import fees things like that you know sort of spread to other other industries in other fields also to the private sector and for this for the for the publics for the private sector fees or are we to raise revenue

and also to obscure the true price of a product but for the proposed fees became a way to sort of to to close revenue gaps this was a profit stream for the private sector in a revenue stream for the the for. public ok i want to ask you quickly about telecom because according to the consumer federation of america. fries and comcast sixty billion dollars annually. which is just outrageous to think about when i first saw that number i couldn't believe it but i mean how do we let them get away with this why does this keep happening sure it keeps happening. and i've actually written about the previously the telecom industry and. consumers. in part because of lax oversight my concern is actually down the road with the current administration. boasting about the rule back of regulations that's

going to have an impact probably down the road where you move the financial regulatory cops off the beat but to happen is great offense for predation and so that's what you will have in the future and that brings me to my next question about richard cordray who obviously just stepped down from the consumer financial protection bureau he'll be out by the end of the month and he was really looked at as a very tough regulator especially when it comes to things like payday loans and mortgages and so on but obviously he did not come into the picture until after the crisis so how do you think he and his predecessors that were in his role temporarily before him did they make any progress oh no absolutely. pity loans to the ways in which to sort of try to grossly roll back into force payday loan abuses the also had some impact in terms of student loans as well and so i think he had a solid start. to great concern that with the due administration and congress it might be rollbacks and front maybe as one reason is that the court is sort of

stepped. in so the senate is what comes in the aftermath of richard cordray from great so it sounds like you might be concerned about who could replace him precisely who replace him is that really the big question though the though of also also hurt. because he has to. there's going to be less of a of a will a push to roll back the influence of powers of c. of p.b. so maybe the congress and the white house my focus on things like like tax reform or other financial issues ok so back to the u.s. economy for a second if in a perfect world we found a way to get rid of all these hidden what would the u.s. economy look like i mean these companies are making billions of dollars a year it sounds like achieve a few g.d.p. percentage points off me would i be. looking at the micro level of some. individual u.s. households and so would maybe fifteen to twenty percent back to the pocketbooks of the american consumer that would in turn mean more money in their pocket to spend

on more goods and services as well so and we're also fees is also a massive transfer of wealth from the middle class to the one percent and so there's a be less of a transfer of wealth as consumers use the use of money in their pockets to buy goods and services that sounds like it could have a pretty big impact it could absolutely so obviously it's a pretty significant situation in the u.s. how does that compare to other countries i mean is this a problem anywhere else in the world. i mean also in the broader sense the rise of fees and is certainly a problem particularly u.k. there's a organization called debt on our doorstep which was created really in the middle of the two thousands of on the eve of the financial crisis and so deftly the question of fees and more broadly has an impact has an impact everywhere we could almost think of the u.s. as some kind of canary in the mine things might start of the u.s.

or even more specifically within within africa about to be the fugly americans or american products start at home and if you get a two hundred thousand dollar lamborghini that share the same color scheme of the vatican black he won't be writing it around the holy see is promises instead he signed it before it's option. according to the vatican. proceeds from the auction will go toward projects helping christians return to their homes in iraq that were destroyed by isis the funds will also help female victims of human trafficking and medical groups that provide services in central africa it was definitely a sight to see considering the pope's dread of the traditional papal limousines on a normal day the only vehicle you'll see him in is in one nine hundred eighty four four. that's all for now be sure to catch boom bust on direct t.v. in the united states you can find us on the r t channel three two one and if you missed us on direct t.v. on you tube at youtube dot com slash boom bust archie thanks for watching next time .

you really. did love for most. of those would be just like to. own up but. they. were still sort of my limit was speculation to me or the. storm just. now at the. bottom of the. sea left him to make it what we have it would be of me. going up to

grab me as. see the good capitalist america and. the gun owners don't be such a shy communist loving bootlicking stock insurance company c.e.o. just take a bloody willy nilly for making people here want to addicks do something constructive impose got insurance and stop the bloodshed. the village of collette she has been nicknamed sleepy hollow because for some unknown reason its local residents have found dictum to sleep but to make this. move. over to was just being able to choose.

to how you're here if you. want to move with the concern that simple thompson issuing sort of but also going on with the question you're still talking super thin you've got to go back to the fishermen to switch. from where did you do what we have are doing to. this with all of. the work in for me for. my cylinder did you have both styles there of the guts to. write your first. novel.

but no. other. with islamic states on the back foot in syria the leaders of iran turkey and russia agreed to host all inclusive syrian talks to kick start the country's post-war political process. lebanon's prime minister announces he's putting his surprise resignation on hold off to the president also him to reconsider the p.m.'s spot to resume political crisis two weeks ago when he said he was stepping down. and the international olympic committee makes another ruling in the russian doping

scandal banning full russian skeleton needs for long. you're watching out into.