certainly there is a looming showdown over this shutdown here to discuss this dr bork thorton of the me she says to to dr thorton before we get into it i want you to take a listen to what the president said on this subject and thank you for being here but hold on check this first the democrats. are really looking at something that is very dangerous for our country they are looking at shutting down they want to have illegal immigrants in many cases people that we don't want to a country that want to have illegal immigrants whoring into our country bringing with them crime tremendous amounts of crime we don't want to have that. the meeting with congressional leaders actually going on right now way to start a meeting mr president will talk about that mark what do you think is going to happen here i mean the meetings going on right right now we saw in the past where on tax reform the president sent out a tweet had

a tight head of the meeting and said there was going to be no resolution and then palosi and schumer the house and senate minority leaders respectively said we don't need to go to that meeting so what do you think's going to happen now doctor. well this is a game of political chicken in washington d.c. with both sides democrats and republicans holding the american people hostage and it's largely for show it's largely for drama it's largely to get people to give them money but basically in the end friday night most likely possibly friday afternoon they'll take a vote to raise the debt ceiling once again from you know nineteen seventeen when the law was first passed they've just continually raised the debt ceiling so it's really not a real thing it's it's something for political drama and i fully expect them to pass something on a short term basis that would take us either up to christmas on the twenty second

of december or possibly right after new years right now just so our viewers make our way over the debt ceiling is a separate issue from the government funding the debt ceiling is the amount of money that can be borrowed actually has already been approved to be borrowed and and the treasury department every so often says hey congress you need to give us a little more cash it's to pay for bills that we have already actually incurred now the government funding just keeps government open that's the thing that donald trump says perhaps we could use a government shutdown what about that dr it i've been through these things before when i was in government it actually could cost the country some money but what's your take. well that's right they don't really shut down the government they leave most of the government open for business basically and they only shut down those things that citizens really want like the ability to get passports and things of

that nature so they make it life miserable for the american people while not really stopping any government activities at all so many things are considered unnecessary an emergency type services that doesn't really happen i'd be all happy for the government to shut down on a longer term basis or i'd be even happy if they reduced the debt ceiling and force the government to have lived very large cuts in government spending and to balance their budget afterwards well long term that would be a great thing to reduce the debt ceiling but we certainly want to pay our debts that are already oh we don't want our our credit rating tanking let me ask you what are the issues that are out there between the democrats and republicans and even some of the the the moderates on both sides that are holding it up holding the government funding up dr. well of course both sides actually want to spend more and

so it's very likely that the debt ceiling is going to be raised by a significant amount it's just that democrats want to spend money on social programs and republicans want to spend money. on the military and then imbedded within that whole discussion we have other issues that both sides are using to try to pry the other side open dock on the immigration front for example the president brought that up. the democrats and republicans excuse me the democrats and some republicans want to see that program continue beyond the waiver period but there are some republicans donald trump steve bannon the freedom caucus they they don't want to see that and it's leaving you know like seven hundred thousand families in the united states not knowing their status going forward so

it's making life miserable just debating this issue for seven hundred thousand american families and then there's of other issues like obamacare and other immigration issues and people wanting to spend money on the opioid crisis and. keeping health care benefits for storm victims there's a lot of other smaller issues that are embedded in this overall spending problem right now and again just for our viewers the you know the acronym daca that is the that is really kids that were brought to this country from other countries when they were they were minors and you know the president with his whole montra about illegal immigrants and everything has thrown those what were children when they were brought here into question and said that they can stay through a sometime this spring i believe it might be the beginning of the second quarter but i'm not sure on that so that reza remain

a contentious issue but let me ask you about that and i'll lead into it dr with dhaka i mean right after the president after the election i called mr trump the deal maker in chief and was really positive about what he could do. to bringing his touted business active men to government and trade negotiations. but you know i'm not so sure that's worked out i'm not asking your opinion on that but you know doing things like we saw in that clip we played earlier where he says you know the democrats want illegal immigrants pouring into the country and and crime i mean come on let's be fair about this there are legitimate policy differences on both sides but is that sound like a deal maker in chief and how do you rate the president so far in the last year doctor. oh well it's been a very tiring experience. with the battle between president trump in the mainstream media and never really getting to the issues so trump is dealing with some

incredibly difficult issues on international trade that normally take decades to work out and then of course the immigration battle is very significant their base wants restrictions on immigration so i believe the what waiver that we're talking about concerning daca expires on march twenty second so i don't expect docket to be addressed in these short term budgetary and debt ceiling issues i think that you'll see that issue heat up in mid march and there will be come to some resolution restoring daca. in exchange for president trump getting. a larger budget for border security so that he can say you know that he can calm the waters with respect to doc and those seven hundred thousand

families and then. claim victory by getting money to increase border security and to start to build his wall. it sounds like you could be a good deal maker in chief doctor and your show so right in what you said earlier about you know people on both sides this is an incredibly difficult balancing act when you have the house freedom caucus who does want more money for display defense spending and then the more progressive on the left who want things like the snap program and the whip it these are feeding programs at the agriculture department the women infants and children program to take care of the the less fortunate among us particularly important for a lot of those democrats around this time of year the holiday season but do you think what's going to happen is that they're going to do some stop. gap funding measure i know the house was talking about that even today through the next i don't know week or so and don't get us past this deadline approaching at midnight on

friday and get us through perhaps a couple of days before christmas yes i do i think it's going to think it's going to pass on friday. the short term measure i think the likely date that it would carry through would be december twenty second and that's probably the last working day for congress before it goes home for the christmas break they'd like to go right now but there's too much politics to be had at this time of year which is unfortunate for the american people have to be worried about everything else that's going on in the world and then this as well and so december twenty second or possibly the spending could be cut loose until after the first of the year so that congress doesn't have to reconvene. to to work out the details of all this. and get it done for the american people what you again

said something that impressed me it's not just. a lot of politics recently it's been a a lot of politics for maybe twenty four months or so and i hope we can get back to doing the right things for the american people one of those things that they are also promising and pledging to try and get done at least the president and the house and senate majority are that tax bill that you referred to earlier and they say they're going to get it done as a big christmas gift all wrapped up but it remains to be seen if they can finally get the final bow on that president present so thank you so much dr marc thorton of the me she says to appreciate you joining us thank you for your expertise. time now for a quick break but stick around because when we were to heard the wildfires spreading across california and that's being costly in u.s. history our chief correspondent atop the reports from los angeles i think that a break from the numbers at the closing bell.

it's all to see we have a great team we need to strengthen before the freefall world cold and your bets have been alleged to keep it so it's at the back. in one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of the winning spirit to the r.c.t. . recently i've had

a lot of practice so i can guarantee you that peter schmeichel will be on the best fall since my last will call him that. thousand zero zero zero zero zero. drive. left left left more or less ok stop that's really good. donald trump decision to move the u.s. embassy from tel aviv to jerusalem signals washington now deems this to be israel's capital reaction was easy to predict various degrees of dismay the law of unintended consequences surely in play. i'm done some is not so is not i can quit places not good country and. true yes if the minister and the bunch of among us well loves. you best with it that's a just call this is political. statement approach on

a scale of the cultish illustrate the split second of christmas. falling into just little and bias from the soul of a fellow muslim of oneself and didn't get him. mostly albums franzl. play almost anything for the most and the best cannot thank god our raw data john said i'm based on i'm much less credit tightening can i do not the last hour we asked last time kept looking at how anomaly came. from michele to mean cannot. change from on i can now move seems almost feel now with the fuckin on the. cuckoo let's see this earth in the sun in a fire go show you go to sleep i don't want to go to the snooze in the micra poisonous or the want to sleep the. sas a cinema bar got to go to a lot of risk to see others who are supposed to.

apply for many clubs over the years so i know the guy even so i guides. football isn't only about what happens on the pitch to the final school it's about the passion from the fans it's the age of the super money just billionaire owners and spending two to twenty million album fly a. book it's an experience like nothing else not to because i want to share what i think what i know about the beautiful guy my great so will more chance with. the bass it's going to take. china's level of debt is posing large risks to the economy according to a new report from the international monetary fund the i.m.f.

wrote the system's increasing complexity has sound financial stability risks credit growth has outpaced g.d.p. growth leading to a large credit overhang the credit to g.d.p. ratio is now about twenty five percent above the long term trend there is high by international standards and consistent with a high probability of financial distress as a result of corporate debt has reached one hundred sixty five percent of g.d.p. and household debt also low has risen by fifteen percentage points of g.d.p. over the past five years and is increasingly linked to asset price speculation the build up of credit in traditional sectors has gone hand in hand with a slowdown of productivity growth and pressures on asset quality apparently a stress test found four of the country's banks were vulnerable leading the fund to suggest that the government put less emphasis on growth and also suggested some more regulations as follows a similar report from october when the i.m.f. said china's debt dependence was growing at

a quote dangerous pace. the european union may establish its own monetary fund to stabilize euro zone nations facing challenges or crises and harmonize the eurozone economies but there is no consensus on some of the key questions around the proposal here discussed from paris's nickel it cost to serve who is a partner at the global law firm mayor brown nicolette thanks for joining us before we get to the reform proposal let me ask you about another story that was out today the e.u. has blacklisted seventeen non countries that are allegedly guilty of offering tax avoidance schemes to citizens and businesses there are supposedly another forty nations in a gray area that a wall so be monitored among those nations there are countries like south korea macau panama lucia and even the united arab emirates so what do you make of that nickel what. well bart you're

absolutely right so seventeen countries in the first ever tax haven blacklist you were announced today and as you as you said the problem here is they do you identify these countries are not having met international standards first of all and second had not demonstrated their commitment to end up coming months before the publication to align their their ways there is indeed an additional list of forty seven countries so the first list of seventeen countries was voted unanimously there's a second list of forty seven countries which are called the grey list and in those in those countries we have we have the developed countries and the developing countries so the developed countries will actually have to the end of next year or the end of two thousand and eighteen to demonstrate that they'll be up to the standards and those that are developing will have a bit more time to have an extra year to do that and nicolette when you get put on

to this this blacklist are there some ramifications that take place immediately or is it more of a shaming sort of list that you don't want to be on so indeed the list is directly linked to e.u. legislation so we'll have a direct impact on funds and other measures there will be an exception for aid and development but it will have a direct impact so we'll see the development of those measures in the upcoming months so i think you'll be very important to to follow up on that ok i thank you for rolling with the punches and the news as it as it breaks here today so what can you tell us about this week's development regarding the proposal considered by the eurozone finance ministers to establish a european monetary fund. so what's interesting indeed is in the context right now of rex it but as well of the

strength of the year you could say the european commission is looking at a way to take advantage of the monetary union and of the euro zone so in that context this wednesday a package was proposed including the potential creation of a european monetary fund as you explain which are more or less would replace the european stability mechanism so it would be under the same e.u. legal structure and more or less the same infrastructure as the european stability mechanism orks on right now what's interesting is that proposal also includes a unified seat potentially at the i.m.f. the international monetary fund and then you position a post of a of a minister of finance or economy representing the d.c.u. amongst others at the table of the i.m.f. so is is what it's replacing sort of a bailout fund for what like it was used in part with greece is that essentially what this is or will there be expanded authorities for other types of shocks

economic shocks. well that's a very good question actually will be slightly different some say will be better some say would be worse and the main difference is of course it still looks at increasing the effectiveness of the governance of the having a common currency as the year but the main difference is that the european stability mechanism right now goes through a unanimous vote so they have to vote in the sli and in the context of a bailout however that new european monetary fund what most of the decision would be on the majority so some say the proponents of it say that it would have more flexibility and therefore might be more useful and have have a more rapid effect so that reminds me of you know the whole discussion that was going on you know back back in the day with with greece and you know there are only some countries germany for example that was doing so well that

could actually have the cash to help out do you think nicollette that in part having this european monetary fund is maybe a little bit of a reaction to brecht's it and trying to coalesce all of the eurozone nations to be stronger and more secure. yes i do i think you know when you're looking at the very rob this recovery of the you do you have right now has one of the lowest unemployment rates and it had since two thousand and eight. there's an impression that the economy is going very well according to surveys so i do think it's part of that environment they want to take advantage of of that position to strengthen and as even reported in. the proposal they are saying we should repair the roof when the sun shines out and not when it's raining so it's a little bit of that approach but of course it would still have an approach of

offering aid and supporting those countries that are not in a weaker position absolutely ok and i don't one other issue to ask you about but before we get to that one could you real quickly give us timing on this european monetary fund what when might this happen if it happens. so we're looking at mid two thousand and nineteen so what we'll be seeing in the next upcoming months is a roadmap that european commission will create that will go on over the next eighteen months so i think it's going to be very important to follow that and i think important point to mention as well is that the fund will have an equivalent chest if you could say a five hundred billion which is more or less what the european stability fund has right now so i think very interesting as well to follow in the coming months ok real quickly then thank you for that and this is also fairly breaking news the european commission has made an equivalency determination with regards to derivatives it's something that they've been working on for

a long time that's sort of a big deal isn't it. well it is i think it's i would say i agree with you it's a major achievement so the european commission announced this week an equivalence decision to allow c.f. to see authorized trading venue's to actually be a little as venue's here recognize india you under a compliance equivalence regime so what does that really mean as you know bar method to any fear will come into force in january so actually the few weeks january two thousand and eighteen so the industry was waiting to see that equivalence coming so what does that mean that means that eve firms will be able to trade their evidence that are there that are subject to the trading obligation on c c f t c authorize venue such as d c m's designated contract markets or set ups execution facilities so i think it's an excellent example. of how

a safer yet more global corporation can work out that that's what we want nickel it cost us a partner at the global law for mayor brown thank you for joining us from paris and doing it so late over there have a good night. a four hundred fifty million dollar mystery has just been solved only to raise more questions salvatore monday a painting by leonardo da vinci sold for a record price at auction last month to an unknown vendor the new york times seemed to crack the code yesterday naming saudi prince fader the bidder christie's auction house had scrambled to establish his identity when he put down a one hundred million dollar figure as deposit the day before the sale asking about the source of his wealth and his relationship with crown prince mohammed bin solomon this afternoon the wall street journal reported that a saudi art world figure familiar with the purchase says quote it is a fact that this deal was done via

a proxy by bader for the crown prince the controversial crown prince has placed many wealthy saudis in detention reportedly pressuring some of them to keep their assets in the country as he attempts to create a renaissance in the saudi economy a record setting purchases are representing a profit may raise eyebrows among among the muslim clerics and provoke an solomons domestic critics but the proxy purchased adding to the intrigue. meanwhile some art historians say salvatore monday is no monalisa and might not even be a davinci some appraisers say the buyer overpaid when the previous owner paid only one hundred twenty seven point five million dollars in two thousand and thirteen if you want to appraise the painting for yourself it's going to be on display in the louvre in abu dhabi. it makes me wonder after that crackdown where they tossed a bunch of princes and relatives to the rich really whether or not they're in the rich jail and whether or not they were this paid to could be used as bail possibly

but one thing really quickly you know or interview with dr marc thorton about government could too doing such we were talking about the meeting broke up and it was a good meeting with the president mitch mcconnell paul ryan schumer and close to the president said. all very friendly happy unified group of hopefully will get together looks like they're going to pass a nother stopgap for two weeks at least that's what coming off the press right now at least for now but that's it for now i'll make sure to catch boom bust on youtube youtube dot com slash boom bust r.t.d. thanks for watching see you next time. please.

please remember gun some is not is not a quick place is not a good country and children are getting to the minister and the bush family as well above the storm. as you can best without the best of all there is little. to the courage. to call the place left for the players without checking to see as. holy and just little and biased from the from the muslim of themselves to be the middle. mostly albums from solo. play almost anything for the members for the first time not a second our better john said on my stand on my show last night no one can i do not the last i will slice home crap with matter how on i'm not a kid. from a shallow tummy and cannot. see the fucking i can now move he was almost real now

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on. coming up though. violet sleeps one palestinian dead and more than two hundred injured as a day of rage is declared in the region tensions have spilled over since donald trump's controversial decision to recognize jerusalem as the israeli capital. major breakthrough was reached in the brig's it talks as both sides agree to move to the next stage though senior officials warn things will only get tougher. and there are doubts whether the usa will compete at the upcoming winter olympics in south korea with american authorities giving out mixed messages but people in new york say more certain about.