don go on forever but then of course there's political consequences and i don't believe that either party wants to take that road no i think they i think you're right on that jeffrey thank you so much for being with us i'm sure appreciate it hope you'll come back jeffrey small president of arbor financial and the author of turning financial planning right side up thanks for your time thank you time now for a quick pause for the promotional cause but stay with us because when we return ashley banks talks with peak prosperity c.e.o. chris martenson about what he calls the everything bubble plus before we go i'll give you my two cents maybe a nickel on what president trump should do at his state of the union speech as we hit the break here are those numbers again two days in a row down triple digits on the depth of the numbers the closing bell right in front of you.

still seem wrong. will just kill. me. yet to stamp out this day comes at a time. and in detroit because of the trail. when something you find themselves worlds apart we choose to look for common ground. this little bundle of joy he would have no chance of surviving in the wild mother pandas can only win one cup at a time but usually gives birth to two. every year china puts a lot of effort into making up for this cruel mistake of nature. is just a. china's panda breeding has become something of a production line. it's almost as though they've been copied three d.

printed and put on show for the public. several cubs are born here each year. but only left work by dedicated scientists will be from the thing if panda love can't be encouraged in captivity it's not as though they don't practice until but in the same lazy way they do everything else this proud mommy gave birth to twins and has no idea that a special love potion was formulated just for the. across europe municipalities are taking their water supply back from private companies who he had to meet people themselves with simple song alone even five company elsewhere though they invited private companies to take over the utilities anybody tell of the rope of a leg from a cigar so you got a book on the back of my because. i've been pieces of us to quote them out.

for you man but they left over a lot of locals are ready to stand up for the basic human right of access to water it's about water but it's also over much more than war it's about the hurt and the redistribution of. words and their debt downwards we want our. years ago i traveled across the united states exploring america's deadly love affair with a gun if a bad guy tried to get to one of my family members he would have better a lot better and i think it's fair and hurting whenever my my babies says my book was published in the year two thousand more than hoffa million americans have been

killed by firearms in the us how does the team yes we 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 here. and decided to return to the subject to track down each gun owner who had met and photographed those years ago i don't know that but we are not. apple will cut anticipated production of the i phone x. by half the first report that apple's new plans to build only twenty million units of their latest model the flagship phone broke late monday in november the company had said they planned to build over forty million units the i phone x.

carries a list price of nine hundred ninety nine dollars and holiday sales fell be low expectations apple stock fell on the cut back news and has been in decline since january eighteenth although the stock is up year over year by more than forty five dollars. a market moves record. after record high over the last year we also see some signs of pullback in selling as we've talked about just a moment ago triple digits first time in two days first time in the year we've seen that and the largest dip in the s. and p. five hundred in five months here with more is actually banks who spoke with chris martenson the c.e.o. and co-founder of peak prosperity dot com. twenty seven thousand and twenty eighteen have seen record highs for the stock markets but will that continue and

what does that mean for people here to discuss and give his take is chris martenson the c.e.o. and co-founder of peak prosperity dot com thank you so much for joining us chris and now what is your opinion on the current status of the u.s. markets and how do you think this will be a strong year for the u.s. economy. two separate questions there actually we've got obviously record high stock prices all over the globe but in the united states we see the same condition and we see records being set all over the place record bullish sentiment record low levels of cash an investor accounts record high stock prices by multiple different valuations so we're we are seeing technically fundamentally conditions that have literally never before been seen in all of stock buying history so that certainly is the definition of buy high and hope for the best so that's part one and for the economy it looks like we're seeing some signs of life at the same time this

recovery is very long in the tooth it's it's been almost i guess the third maybe closing in on second longest expansion in the record books so lackluster for sure but do we see the things there that are necessary to really take this thing to the levels of growth that these equity and bond prices have been implying i don't see it i want to switch now to an article you wrote on seeking alpha you say that when people think wealth they think about money and stocks but you make the claim that wealth is the stuff we actually buy like oil land food and fatter and now evan those are the things that really determine wealth why is it that way thea bigger focus on stock than money. well you know the history is clear on this actually we see the pendulum swing from fascination with things those are the real tangible assets you just mentioned to a fascination with paper we're coming out at the tail end of the longest period of

financialization in our history so there's a lot of fascination with paper right now but i love reminding people that real wealth is not money it's not stocks it's not bonds it's not derivatives each of those is a claim on real wealth and to make it simple if you're on a deserted island it's just rocks there's no fresh water no soil no nothing you are a big pile of cash isn't going to do you any good so it's important to remember that real wealth is land its resources that's primary wealth it's the means of production that secondary wealth everything else is a claim on those first two and history is complete actually we see times when those two things got badly out of balance like in why marger money or in some bob way or recently in venezuela and that's what we think is where we are is it an extraordinarily imbalanced market with the highest levels of debt the highest levels of unfunded liabilities and the highest equity prices these are all claims

not real wealth create some say that most of the largest bubbles and has three have occurred when price inflation on ad that becomes higher than and comes can sustain that now if that holds true what would you say is the next great bubble to burst. i think we're in the everything bubble here actually what we've seen is since the late one nine hundred seventy s. early one nine hundred eighty s. depending on which country we're talking about an experiment started to be run and the experiment was this could we expand credit at twice the rate that the underlying economy was expanding so in this story the credit fuels the asset bubbles that you just talked about those asset prices and on the other side the economy's your income that's what can sustain the prices of these things so where are we seeing sort of bubbles listen i don't know you know every bubbles in search of the pin but i don't think that we just have a housing bubble in vancouver in toronto in sydney in san francisco those are true we don't just have a bubble in european junk debt which is now trading with

a lower yield than us a ten year debt figure that one out if you can we don't just have a bubble in equity markets which are priced at the highest they've ever been this is kind of the everything bubble unlike the prior bubbles that we saw in two thousand and seven and two thousand i can't find any really undervalued places to hide this time except cash in commodities chris every word to experience a financial disaster in the near future do you think our current markets are ready and how do we you think we've learned enough to offset the damage that could be done. no unfortunately the lesson that we should have learned in two thousand and eight was hey that was a bad idea creating so much credit not that you defined what a bubble is it's when yes had prices rise beyond what incomes can sustain but to have one in the first place you need one thing always one thing and that's too much credit so our credit markets fell apart in rightfully so we were running a bad strategy in the federal reserve along with the bank of japan bank of england

bank of canada european central bank said not on our watch let's get those bubbles going again we're going to push credit is the markets they did a great job we have a normal amounts of new debt in the system since two thousand and seven but we haven't had is the organic underlying economic growth that would justify those actions so you know when this next crisis comes are we ready for it the answer is no we have more debt just as much derivatives on the books and worse we don't know where the risks really are because don't forget these big banks big financial institutions are still allowed to account for the derivatives on their books by something everybody calls mark to fantasy whatever that whatever number they want they are still not marking to market we see emergency provisions stuffed into place in two thousand and eight still muddying the waters all the way here ten years later chris let's switch over to tax reform what kind of impact do you think will think now that trump and the g.o.p.

have passed their latest version of it. well we're seeing some i think some very positive developments with companies deciding to give some of that cash in bonuses to their employees that's going to come straight into the economy i've long been a critic that if you want to do emergency cash infusions go ahead and do it money for main street at least then it gets to the places it should money for wall street not a fan of that for wall street fritters that stuff away so that's on the positive side i will take the other side of the estimates where they say maybe a trillion dollars in new debts will result i'm going to say that numbers at least off by a factor of fifty percent maybe more it could be two trillion could be three trillion because actually the way they calculated that number first you can disagree with that under any circumstance but they also assumed no recessions are going to come along and we're going to get really robust economic growth the at a rate we haven't seen in ten years so from those two bases alone i think that we're going to see much higher deficits coming down the future and of course i think the u.s.

treasury markets already agreeing with that as we watch interest rates climb everywhere from one year to the thirty year paper we're going to leave it right there chris martenson a theme you know and co-founder of peak prosperity dot com thank you so much for joining us today my pleasure. before we go donald trump will or should show up at the state of the union but who will be there will it be teleprompter trump or davos trump that i witnessed in davos last week at the world economic forum well he should probably be that davos teleprompter prompter trump and here's why going into the forum there were a few trump opposition protests primarily in zurich when air force one touched down in a small group there in davos itself while a few davos attendees walked out of the president's speech one eyewitness with a t. shirt proclaiming i stand with eighty the president's remarks remained uninterrupted he was scripted and stay glued to the words that appeared in the

teleprompter and. it worked the result he spoke about his america first agenda not meaning america alone he was in fact warmly received and avoided up setting global political and business leaders most of us recall that he didn't do quite that of the one his few forced four and four raise last year to the middle east and to europe and the reception in davos with business leaders was likewise pretty positive his davos speech home to many and was a success by almost any measure that's the fellow who should show up for the state of the union davos teleprompter chup so doing so is particularly important given the heightened and angry antagonism of many democrats the president shouldn't inflame already smoking embers many recall rep joe wilson's shouting out you lie during one of president obama's state of the union addresses it was by any

reasonable standard pretty bad form the u.s. house of representatives where the speech is delivered is not the u.k.'s house of commons where booing and hissing cat calls and shout out sorry regular regimen the state of the union address should be a place for inside voices and making progress for our nation but this isn't just about being respectful of the speech of venue or of those in the room it's most importantly about doing the right thing for our nation and the only true way to make long term positive progress is to work with members of both political parties that's particularly important on an issue that president trump has touted all the way back to the twenty sixteen campaign infrastructure reform today the president and his administration has only provided a six pages six pages of bullet points on infrastructure it's a trillion dollar plan for gosh sakes six pages come on that needs to be fleshed

out with more detail and the state of the union. tonight is an obvious opportunity to do so furthermore infrastructure is not a very partisan issue the policy debates around infrastructure usually center more around urban vs rural transit vs roads debate than partisan politics a davos teleprompter trump could make a heck of a lot of progress if he speaks about the need for infrastructure reform the official says that would be created not to mention the jobs and boom and business to the overall economy for the democrats they should really refrain from any bad behavior whatsoever that will be decidedly difficult for some who believe the president has toward opportunities to work together and put in place a tax reform program that will only exacerbate the current wealth gap and is demean the office of the presidency nevertheless democrats should be respectful and civil we want people in public office who believe passionately in causes that's what our

democracy is all about it's what it's based upon but the state of the union address however it isn't the place to deride or demean the president nor the president to be particularly partisan or sort of go to his learned worst instincts we can all do better we'll see if the president and the congress republicans and democrats alike can do a better job tonight will see and will listen. that's it for now thanks for watching be sure to catch boom bust on you tube youtube dot com slash bloom bust our to catch you next time.

here's what people have been saying about redacted a night with us and just pull along awesome the only show i go out of my way to find you know what it is that really packs a punch. yeah it is the john oliver of r t america is doing the same we are apparently better than the blue. sea people you never heard of love went back to the night i'm president of the world bank so they. weren't serious when he sent us an e-mail. the released a memo moment is upon us republicans are billing it as some kind of silver bullet revealing political corruption at the highest levels of the department of justice and f.b.i. the democrats on the other hand and their supporters in the liberal media college of distraction finally the public will decide. the fight for many clubs over the years so i know the game and sorry guys. the ball isn't only about what happens on the pitch for the final school it's about the

passion from the fans it's the age of the superman to kill you narrowness and spending to twenty million. it's an experience like nothing else not to because i want to share what i think what i know about the beautiful guy was great so what more chance for. the base this minute. i.

concludes his first state of the union address as president of the united states the speech that received both boos negotiations. oh oh oh oh. oh oh oh. oh oh grows. with his decision to treat jerusalem as israel's capital u.s. trade delegation becoming the latest target protests. pharmacy chains in the german sit here frank have been labeled as a racist with a centuries old name deemed offensive to african migrants there on the program we gauge reaction from locals it's simply historic term in the pharmacy doesn't for sure doesn't use it to be to be offensive we shouldn't change our traditions.

very well welcome to you from all of us here at the international in moscow just passing at midday now in the russian. donald trump house delivered his first state of the union address on capitol hill and his speech he praised the accomplishments . as president of the united states together we are building a safe strong and proud america we want every citizen to be proud and our nation. well for ever be safe and strong and proud and mighty and free thank you and god bless america goodnight. trump started off with everything that's changed since last year and all of the policies he followed through on and then went on to say that his administration's

been making america great for all americans this statement turned out to be quite divisive reactions range from standing ovations to some booing from the audience we have gone forward with a clear vision and a righteous mission. to make america great again for all americans. through moving on to policy it was quite a lengthy speech but he managed to go into both domestic and foreign policy but mostly domestic policy of course bragging about his trickle down economic policies celebrating police and veterans and exporting on clean energy to the world we have and did the war on a beautiful clean coal he also brought up infrastructure and focused quite heavily on immigration announcing a bipartisan immigration reform plan and arguably one of the most important

announcements of the night keeping guantanamo bay open so he's going back on obama's policy but on foreign policy there was plenty of american exceptionalism mixed with platitudes and cliche's he introduced the subject by naming every so-called threat to the u.s. but in general it was all pretty vague he didn't go into detail explaining how he would accomplish any of these goals but beyond that trump took credit for eliminating isis and he seemed to have hinted at continued military presence in the region saying quote we will continue our fight until isis is defeated he ended it with north korea calling it the worst of all dictatorships warning that their pursuit of nuclear weapons could very soon threaten our homeland even though d p r k has never attacked another country before north korea's reckless pursuit of nuclear missiles could very soon threat our homeland past experience has taught us that complacency and concessions only invite aggression and

provocation i will not repeat the mistakes of past administrations that got us into this very dangerous position while russia and china have been trying to reduce. between the u.s. and north korea and they even called on the u.s. to provoke them anymore but somehow they were designated as threats and from speech around the world we face rogue regimes terrorist groups and rivals like china and russia that challenge our interests our economy and to have a say in controlling these horrible dangers we know that weakness is the surest path to conflict and matched power is the surest beings to our true and great effects i was just a watching mainstream coverage earlier and the only criticism that had well these foreign policy wise was that he was apparently too soft on russia during his speech

donald trump criticized the international backlash that followed his decision to recognize jerusalem as israel's capital in palestine there's mounting anger over the move spilling over recently during a u.s. business delegations visit to the city of bethlehem. nobody. took place at a meeting of the bethlehem chamber of commerce and industry protesters arrived with a van condemning donald trump after minor scuffles the meeting was cut short the team's policy has more on the anger caused by the ongoing jerusalem controversy. well this is just the latest incident in a string of protests that has been taking place on the palestinian street there were protests in front of the palestinian prime minister's office in the west bank city of ramallah now there they were protesting against of induction of services

being offered by the united nations relief and works agency for palestinian refugees the protests and go on the palestinian street have gone as far as to enter the israeli. elemental the israeli knesset where just last week the american vice president mike pence was visiting as he stood up to speak a group of arab lawmakers who constitute the third largest faction in the israeli parliament started shouting and holding up banners with anti american messages citizens of israel. now mike pence during his speech at the israeli parliament only further infuriated the anger that is already here on the street by announcing that by the end of next

year the americans would be moving their embassy from tel aviv to jerusalem since president trump made that announcement on jerusalem back at the beginning of december they have been more than twelve palestinians who have been killed more than a thousand have been injured and hundreds have been arrested so this is a situation that just won't go away and witnessing tensions continue to climb. to pharmacy chains in the german city of frankfurt have been labeled as racist a municipal union representing foreigners says that the centuries old name offends migrants from africa as they contain the word more art is peter all over explains. what is in a name well for frankfurt council the name of two of the city's pharmacies was enough to demand that change this is one of them exist to take it so more and it's that final part of the name that the city council here in frankfurt have

a problem with it translates as the pharmacy now traditionally what that meant is that this was a pharmacy that would have stalked alternative medicines or medicines from the east as well as western medicine this building here you can see originates from nineteen hundred however there are campaign is that say that this type of name has no place in modern germany the reason for the complaint was that people said using the term morrish was racist and offensive against people from north africa but we spoke to people here on the streets of frank first and gauge their opinion about the proposed name change i think it's a shame because it's part of maybe our culture too and it doesn't have any more to do with maybe we've. already. we shouldn't change our traditions he's been there on the cd for me if something is to be racist it has

to either diminish or belittle people in this case it has more to do with recognizing cultural heritage it didn't even appear to me that you know it's offensive because it is a historic it's simply historic terminal pharmacy doesn't for sure doesn't use it to be to be offensive the owners of both pharmacies politely declined to appear on camera saying that the news that they were going to be forced to change their name brought nothing but unwanted publicity interestingly enough the name up a ticket or more and is much more common place in the state of north rhine-westphalia but when the integration council in that state were asked if they'd be following frankfurt's example. well they said no they had far better things to be doing peter all of frankfurt. although the value of bitcoin has been noticeably volatile the positives seem to sit with the technology underlying the crypto currency in russia's capital for

example one businessman has turned a former soviet car factory into a crypto currency from focusing on multi-celled mining. explains. welcome to our digital digest on everything exciting in the world of block chain i mean your practice and thiago this is party script old soviet ciphering technology may just be what the world needs for a global revolution in mining we're about to speak to the founder of the russian mining company and see what the multi-cell mind is all about big news from moscow as the russian mining company cone by dmitri marine shiv one of president vladimir putin's internet buds men plan to raise as much as one hundred million dollars in bitcoin and a theory i'm for their i c.e.o. the result was only forty three million but it was more than needed to go on with the production of the mall.