many others although industrial analysts brian ilagan berg says the g.e.'s healthcare and aviation units are doing well in general electric will likely break up as a business as starting as early as the spring just a portion of shareholder returns and the past year now a recent review found g.e. is looking to take a six point two billion dollar after tax charge for the fourth quarter of twenty seventeen now the company's c.e.o. john flannery said we are looking aggressively as the best structure or structures for our portfolio to maximize the potential of our businesses the company is also expected to contribute fifteen billion dollars over the next seven years to shore up the portfolios reservoir reserves excuse me j.p. morgan comment it saying this to us is not about offensive value creation and more an acknowledgement that the problems for crude the company for moving forward as

previously planned even a few months ago and cullen an alleged plot i'm confident that quote there is no quick fix for g.e. and the stock remains that biased to the downside and lag in bird says it would take g.e. c.e.o. philander eighty five years to turn the company around after cutting g.e.'s dividend and restructuring its units bart thank you ashley archie america correspondent actually banks and we'll have more on this coming up to the great big story thomas edison started this company so much to get to thank you actually wrote them. two weeks into the new year now it was about the time that people all around the country are coming down from their christmas parties and returning their post holiday to their post holiday lives this also includes returning or exchanging some gifts they received. but to the dismay of middy they will find that their gift word

fact counterfeit goods village chan digs a little deeper into that manila each year countries trade goods worth hundreds of billions of dollars a small fraction of that are counterfeit across the globe two and a half percent are counterfeit or pirated material that's according to the organization for economic cooperation and development in the u.s. that amounts to about four hundred sixty billion dollars and with the surge of online shopping many consumers are inadvertently clicking on knockoffs this is why industry experts and professionals call this a borderless crime i spoke with customs and border protection officials about this problem and they issued me this statement it read in part trade and counterfeit and pirated goods threatens america's innovation economy the competitiveness of our businesses the livelihood of u.s. workers and in some cases national security and the health and safety of consumers everyday americans shop online through e-commerce and purchase products from

international sellers many international sellers are legitimate but there are those that market everything from fake handbags to counterfeit medicine sometimes selling the counterfeit products at comparable prices to the brand names leading consumers to believe they're buying authentic items at a slightly lower price now that's a grim warning for those who think of buying counterfeit products as not really harmful c.b.p. says there are deaths resulting from knock off goods anywhere from children being killed from illegitimate car seats to negative health effects from fake medicine that's why c.b.p. seizes around two hundred fifty billion dollars annually in counterfeit goods some of the most common knockoff are in footwear merchandise electronics even eyewear and many women can attest to the knockoff quality and high end name brand handbags like louis the ton or prada some people receiving these items as gifts. may never

be the wiser the overwhelming producer to counterfeit goods as you may have guessed originate out of china to the tune of about sixty five percent of the counterfeit black market legislators and law enforcement are actively working to better stem the flow of these fakes from entering the american marketplace. thanks for that report i mean boy it's horrific coming out people dying and things but which which would be a pretty surprising thing but absent that what are the most surprising things you found in covering the story that i was absolutely stunned to make it really make me realize that people do die from these things counterfeit goods can actually risk people's lives so that of course was the most shocking element to this the next shocking element if you think well why can't officials or law enforcement just stop the tide of all of this coming in you just you know stop them at the ports right that's what you think but as the official told me they said well nowadays people are shipping parts of counterfeit goods so that fake louis the town handbag that

you might buy you know along twenty third avenue in new york might be assembled in the u.s. part flown in through different ports of call like argentina or other other softer lenient ports and they've been together in the u.s. and they put them together here so you can't just seize the product so interesting well it's so amazing that this is occurring manila that i think we want to do a little bit more dig a little bit deeper into it and in that regard we are super fortunate to have with us laura miller lara is the director of strategic planning for the international anti-counterfeiting color should c.c. laura thank you for joining us it's a pleasure to have you with us i mean what are some of these knockoffs isabel is reporting like the michael kors bags a fake michael kors they're pretty convincing right absolutely and thank you so much for having us it's very true that we are seeing a trend in fact in seemingly higher quality knockoffs at more close to retail price

point so we're used to always have situations where the consumer probably knew what they were getting when they saw five hundred dollar handbag or thirty dollars we're now seeing very well crafted websites with customer service lines and elaborate explanations about how they got the goods wholesale and leading people to. leaving might just be getting a very good deal so how do you tell if you're getting a fake i mean. if you're buying a michael kors bag for twenty five bucks you know you you know it didn't come from the store but other than that i mean manila talked about the pieces being brought in peter neal and they're so how do you know i mean how do you know if you are paying sort of a full boat price but not getting the whole boat it really is all about the distribution mechanism i mean first of all the quality never will be as good as the original if you have suspicions then you probably have a counterfeit in addition you know you can look to the labrat explanations on the website or in the store won't be set up like that particular brand would want

a retail outlet to look like for that brand you can try calling those customer service lines you can also look at labeling you can look at packaging it might look a little bit different it might not be complete it might seem a little bit different than what you would see on a legitimate website or even. on the internet when things aren't spelled the right way or the right. things to look at if you don't ask for it go ahead you know as i spoke with some c.b.p. people they advised me that you know they're charging higher prices on sites that are like amazon it's not necessarily going to a chinese retailer where you might be suspect that you're getting a fake item but if you're buying something from like amazon and they're charging close to retail how do you how does a consumer protect themselves there are a lot of issues with e-commerce platforms and the fact that it's more difficult to tell exactly what you're getting that's why the i.c.c. does work so closely with intermediaries to help to clean up that problem looking at customer reviews taking advantage of the return policy if you do get

a counterfeit item those are all really important other web sites will take advantage as well of people's different or standing of what happens in different countries so one thing that's very close to my heart for example is these purported canadian pharmaceutical websites these online pharmacies i get the. a popular belief that they're just given away like candy out there and as a result there's all these web sites that sell very counterfeit medications that can be extremely harmful or at the very least ineffective because it's slapped if you make a lease on it in a model and it's white jacket and people think that it's legitimate what what about . you purchased one of these things is there is there some liability on the part of the person who purchases is the consumer in trouble no. matter so there's no liability for purchasing or only a counterfeit good for personal use however there really isn't a victimless it's not

a victimless crime while you may not have legal liability the consumer really does need to think about the harm that they're causing out there we talked about economic harm i mean ip crime generate a tremendous amount of revenue for criminals criminal networks terrorist networks globally over half a trillion dollars per year which to give you a better perspective is over a billion dollars greater than the economic impact of drug trafficking and account for about two point five percent of global imports so there's a lot of economic harm there's a hump innovation you were mentioning child labor and every child all these things i mean quite a very visible harm with the safety issues with these items it's a tremendous problem laura thank you so much i want to have you back and talk about this a little bit more laura miller director of strategic planning for the c.d.c. thanks very much for joining us thank you so much. time now for a super quick timeout but hang with us because when we return we'll talk about crypto currencies cratering and what will it take to make digital currencies usable

in palmers plus the talk this week with pork on the economic and human toll being inflicted as a result of those horrible california mud slide and if we go to break the dow jones industrial average which shot past twenty six thousand yesterday remains near that level as we go to air and here are those numbers at the closing bell. the new global economic war is unfolding in the realm of education the right to education being supplanted by the right to access education low its high education is becoming just another product that can be pulled from the souls but it's not just about education anymore it's also about running a business where you good. luck with the kind of fairly good

name you. want is the place of students in this business model before college i was born now and i'm extremely bored high education the new global economic war. hey everybody i'm stephen bach and the task hollywood guy the suspect every proud american first of all i'm just george bush and r.v. to say this is my buddy max famous financial guru just a little bit different. though no one knows up with all the drama happening in our country i'm shooting the brood have fun every day americans of all. hopefully start to bridge the gap this is the great american people.

earlier today bitcoins price had fallen below ten thousand dollars the digital currency was approaching twenty thousand dollars just a month and a day ago on december sixteenth and bitcoin fellow digital currencies ripple in theory are also losing value by double digit percentages and the sector as a whole is deflating an analyst at a virtual currency watcher coin desk suggested this afternoon that bitcoin could soon fall eight thousand dollars to eight thousand dollars analysts say the moving average for bitcoin over the past one hundred days is ten thousand dollars by this afternoon the price had rebounded somewhat however it is still not clear if the floor has been found some has even suggested that there may be even a greater price collapse of several thousand dollars time for more and digital

currencies and the big kahuna bitcoin we're joined by jeffrey tucker editorial director for the american institute for economic research sites for your time jeffrey do you think that there is a way to ultimately incorporate bitcoin into the country's mainstream currency system. i don't think it needs to be done as a matter of policy but i tell you what crypto currency is got a future maybe not from the treasury department or the federal reserve or something like that but in terms of just regular people discovering it and using it i think it definitely has a future you know how i agree with you by the way but how how is it going to happen you know i sort of said you got to be able to use it in daily commerce it's got to be honored but do you agree and how will that actually happen well so like if you had asked the question three years ago two years ago i would have said oh everybody is going to have because you're going to be paying for your coffee and your hamburgers with it and that kind of stuff but that is not how history is unfolded

and the reason is the transaction fees are so high and the processing time is so slow and that's because the network is clogged and because right now the protocols not designed to scale anywhere near something like bees or master card or or even a c.-h. you know so it can't happen in the current conditions but this is precisely why we've seen such diverse occasion taking place within the crypto asset sector you know because in itself is down to something like we're going to estimate at and check in this morning that something like maybe thirty two percent of the overall crypto assets sectors so it's kind of a. not as big a player as it used to be now we're seeing other currencies really being used like like coin and dash i got a announcement this morning from a conference that said when you come here you can always been bashed so yes interesting that that is sort of like well it's an arrow and all these other things we miss you know you can reason so many little points here sorry sorry jeffrey you

bring so many good points i don't want to lose them so when you talk about the processing time that is a huge deal i mean i know you can purchase bed and breakfast except for with bitcoin but you know it's not like your credit card to it. takes ten minutes or so and then there is a transaction fence of you've articulated the big think but how do we get over that i notice that ripple was there was a report maybe two weeks ago or less that ripple was in some discussion with american express is that going to be the ultimate thing where a digital currency actually works in tandem with a discover and amex or vs our master card. that's exactly how it's going to work going we're moving to a competitive money system and a competitive system for.