so it's a real poverty program and again this is more like on the soup kitchen model and the fact of the matter is that this program in europe is about a four point five billion euro program it is nowhere near the same level size it would be impossible to scale up even in europe and it is just absurd to think that we're going to scale it up in this country but let me ask you before we we just got about thirty seconds but. we need to probably be talking a little bit more about trade and food don't we i mean with all the tariffs is that something we should be looking at in the next coming weeks i think i think so i think that's going to be one of the big issues coming up as we're looking towards the global movement of the american diet of the globalization of of meat and of grain and of corn it's going to be a big story great one quick thing did you when when we look at these food programs all over the world is pretty efficient and effective in serving people in the u.s. fred i mean are there are programs proven to be or is there lots of waste the

bottom line is that is this part people don't go hungry because there's not enough food in the world there is three times as much food to feed everybody people go hungry because they cannot afford the food direct cash transfer is the single most efficient way of solving the issue of food insecurity coffman thank you so much we'll have you back to talk about trade in food bank. time now for a quick break but stick around because when we return we'll take a firsthand look at how china is expanding its influence and investment below the equator plus we'll take a look at how one tweet caused a billion dollar loss in a stock as we go to break the u.s. energy information agency report a larger draw on oil reserves that has dissipated and the price of crude oil has risen as a result here other numbers at the closing bell. a

little blog selling you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battle but still. the new socks present tell you that will be gossip and tabloid was filed in court today. on the market and doesn't tell me you are not cool enough to buy their product. all the hawks that we along the border will want. the united states is going to look very deep into mystic prizes challenge to a miracle supreme will see the north from the outside noise from russia not from china but from the inside all sides what you see now all around russia and this.

over russia. is psychological or understandable of times to find sound by the outside the united states who is responsible for the while the real problem is this . is getting international recognition with the help of israel at least in the world of zoos a member of the commission to do you like you know that this is my compass he is going out to study hall maybe. john does. the only palestinians is gets the most help from his jerusalem counterparts i don't think there's some of those who in the world under the oak vision could not only could do this. and the desire to display only the most of the i know if you compete in the customs you know do more movements also don't put this off.

what's going on is only producing. delusional fears it doesn't have any meaning unless it leads to real chaos which can be. you know guaranteed only by christina presentation. the first national bank of omaha based in nebraska has said it will not read up its contract to provide credit cards to the national rifle association the bank is the largest privately owned bank holding company in the united states. a spokesman said the decision was in response to customer feedback the school shooting in south

florida last week that killed seventeen people is said to be the leading cause of the bank's action. the chinese government has seized temporary control of the and bang insurance group company and as arrested the company's founder for fraud it's a surprising move only furthering chinese president's g. jim beings anti corruption and the leveraging campaigns the government announced it will control the company for at least a year with a possible extension and this isn't an bank's first brush with the law in the united states lawmakers brought up ethics concerns when on bang look to invest more than four hundred million dollars with cushion your company's the company run by donald trump a son in law jared questioner. the u.s. has stopped a chinese state backed deal to buy an american electric company x. sara and massachusetts based chip testing company withdrew from

a five hundred eighty million dollars sale to an investment group backed by the chinese government xers president david tell celie said that the company backed out due to the unlikelihood that the committee on foreign investment in the united states would approve the deal the rise of china is a huge story and one that gets lots of coverage here including a boom bust but what about the chinese china's relationship with latin america and a huge market with a large and diverse array of resources here to discuss the under-reported story with us is rebecca ray fellow at the global economic governance in initiative at boston university welcome to boom bust and thank you for joining us professor we sure appreciate it to start with what is driving this relationship between china and some of these countries. the relationship is being driven not only by a growing chinese demand for new strategic partnerships with new countries around the world but also by the united states pulling out of that region so when secretary of state rex tillerson expressed surprise today at the state that russia

and china and other actors are increasingly active in latin america frankly the only thing surprising is that he was surprised when we see china growing as an export market for latin american goods and in fact they now account for nine percent of latin american exports the number one export market for south america and number two for the region as a whole that includes twenty five percent of their extractive goods coal oil gas metals it's not just because china's demand is growing it's also because the united states has stopped buying those products from latin america china is really only taking up part of the slack so if secretary tellers and is concerned about this he could certainly do something about it but it would be about the united states buying more of latin american products not asking latin america to stop selling them elsewhere but of course the president has made it clear that he'd like to address the trade deficit by importing fewer goods so really there's nothing to be

surprised about and nothing to feel offended about as the u.s. loses market share in latin america because we're buying fewer things and the same thing can be said for investment in the area probably the most famous chinese investment in latin america is the yes go ahead. no i was going to say have to yet so tell tell us about the difference between you know china and other nations that might want to have a relationship with other countries that i mean it china is helping to prop up some of the the industries and i don't mean that in a negative way but by being a customer they are sort of helping a sort of win win circumstances with these other countries in latin america and that's not a approach really i mean separate from president trump that's not really approach that u.s. is known for is it. absolutely we see the china opportunistically and not in a bad way taking advantage of the fact that financing and investment isn't coming

from elsewhere latin america has been looking for example to modernize and green its infrastructure base for generations the united states is pulling out of interacting with latin america in that way so china is there to help prop up those sectors because they're looking for new ways to lend money out to support chinese contractors abroad and we have an export import bank that also has that same function but rather than aggressively look for opportunities to support our contractors in infrastructure projects abroad it's fighting for its life in twenty sixteen all of its operations were paused while congress had to debate whether or not it should even exist meanwhile china is taking up the slack by aggressively pursuing opportunities to finance it for structure not only in latin america but all over the world so if secretary tellers and sees this as either an affront or competition we can absolutely address that by stepping up the mission the financial

soundness of the u.s. export import bank and many of us would applaud such an effort unfortunately that runs contrary to the trend of the us government is had not only under trump but also under the previous congress so again there's nothing particularly to be surprised about but if the us once to increase its role in latin america again the way to do that is to earn it at this point it's no longer a given lot america has branched out and made other friends in the absence of a us market in the absence of us investment that's to be expected and it's absolutely fixable if the u.s. government sees that as a problem but it's going to take action on our part it's not going to happen naturally you know james monroe didn't ask permission from latin america when he announced the munroe doctrine an eight hundred fifty and one america certainly never promised not to do business with anyone else and so to hear the secretary tell it and bring up the monro doctrine. while traveling in latin america as if everyone present agreed that it was somehow beneficial for the reason is not only

startling but it shows that he hasn't had the staff under him enough to prep him enough to show him that that's not the case like america has other options now they can put their standards on investment coming in from china china doesn't have the same political strings that come on it's money that the us money has traditionally come with trying to tell us that we may have made progress or not let me let me ask you just as real quick so i know that you looked at your study which was really great by the way but i know that you looked at eight different countries but you sort of had a case study on ecuador can you briefly sort of encapsulate what how what china is doing in ecuador for our viewers. sure as one of our viewers may not know ecuador was kept out of world finance markets for seven years after it looked at the debt on its books and discovered that some of it was contracted through fraudulent methods it cancelled those debts and was consequently cut out of

international bond markets for seven years now ecuador is dollar rise that means they can't print its own coast currency it's also a very small country that really only exports three or four products so it's absolutely crucial crucial for ecuador to have some source of finance if it's not from the international bond market it has to come from somewhere china stepped in and said yes we will in fact place a bet on you because we do believe that you are paying back legitimate debt you cancel illegitimate that but that's not the same thing as defaulting on all of your debt and so china stepped in became the primary lender to ecuador and also became a one of the major oil investors in ecuador ecuador started putting rules in its oil sector to say this money will not all leave ecuador this money is not all going to go and live in the coffers of companies in the united states and canada and europe some of this money has to stay here and go to schools and roads and

hospitals and china said fine when other countries left china stepped in and now we're currently in a situation where as of a few years ago ecuador is now able to join the bond market again and it's really entered the bond market and now we see about a third of it that is to china about a third is to mopey laterals and about a fifth such as for example the world bank the inner american development bank the development bank of latin america and another third is this bond market so ecuador is back on its feet in large part because it was able to look to china for financing when world bond markets had turned their back on ecuador that's the kind of partnership that china looks for opportunities to pursue that the u.s. simply isn't interested in pursuing. so let's take a half a step back other than the trade component which is a real and and you don't sort of obvious it seems to me and this takes place not just in latin america but we see it with the built in road initiative that it seems like it's a overarching foreign policy gambit if you will to avoid conflict

in the future and you think that's one of the less articulated i mean you talk about it in your your paper but is that it when people discuss and we look at this they're probably not catching that part of it hello i'm afraid i lost you for a moment could you repeat your question please karen rebels you know you reckon china is also yes absolutely and china it's important to remember that the corporations are part of the government the banks are part of the government and they all serve china's foreign policy this means that on the one hand when china is supporting its own contractors abroad by lending to company countries for their infrastructure projects such as the belt the road initiatives such as no many many roads dams and other investments in latin america they're doing so with the blessing of their government and in order to pursue a soft power approach abroad again this is all part of what the u.s.

used to think of the as part of our tool box of soft power of purchase as well but we've dialed back on that side of diplomacy china however learned from our experiences learned that this is a powerful way to win friends and allies and votes at the u.n. when it's time for that and also to support your own and the straits because all of those countries that are putting in infrastructure with chinese money are using chinese contractors to do it so they're private so they're contractors are getting money they're winning the peace with their friends and neighbors and they're winning votes at the u.n. from their perspective that there's there's no downside to it. excellent rebecca ray we thank you for your paper thank you for your work on this stuff becker a doctoral fellow at boston university's global development policy center thanks for being with us thank you. and it's no secret that america has a bit of an obsession with celebrities but this next story might just take that to a new light snap chat incorporated took

a major hit on thursday losing more than one billion dollars in its market value because of a single tweet this tweet from car dash in sister kylie jenner is what caused the stock to plummet she claimed she hadn't been using snap chat the flagship app of the company causing many people to see that tweet and follow her lead this tweet also mimics recent complaints from many of the app users about its new design and interface after jenner's tweet the make up company maybelline asked its followers on twitter if it should follow suit and leave snap chat no word on that tweet or what maybelline will do the app has about one hundred fifty million users around the world and it's been very popular sensitive to release in two thousand and twelve that's it for this time thanks for watching try to catch boom bust on you tube at youtube dot com slash boom boom bust r.t. see you next time.

we're similar to the sports to those in the studio because they don't see this one of them one of them so. beautiful he has good new push to talk to the press will see the promoter jim crow was put on this material to manage and i do you know because you know i'm on the bridge with the story of the place to start a. certain demeanor will sometimes i use in the muslim even some of the video. you'll see us so you'll see a little. susan you go with somebody else but you're going to shows you who pulls to the police when you should just be busting the most of them so just to take a well look you could say yeah well you know what usually beautiful when they should be pursuing news this is each of us knows told me of some good that you know

the boy told me it was a woman so. this is charlie munger his approach to economic slow bold blow bubbles for wells fargo bail out wells fargo bail out the tourist charlie munger i warm up it turns the word. that just. certain i want to do things that show everybody is really trying to be very clear right. away go to. management. and they on they they when they up and they have the new.

scheme you need to feel very. soft yeah i'm them what do you how to become a celebrity look local just one day in the. office tomorrow if. i want to be in the book there's you still want to talk more negative cash. flow. peace peace peace peace peace peace peace me. please.

international headline news two days of crisis talks at the united nations failed to yield a breakthrough on syria as world powers attempt to agree on a ceasefire for the rebel held district of. people don't do it don't do it don't do it and we did the right thing washington sets the date for the relocation of its embassy in israel to jerusalem a move the palestinians say could destroy any hope of a peace settlement. and three friends from australia challenge themselves to a grueling ninety kilometer cross-country skiing race in sweden despite never having tried the sport ever before.

this saturday the twenty fourth all five around calling right welcome to the program this is going to start you off by bringing you up to date on the overnight developments in syria where the state media is reporting that islamist militants on the rebel. a fresh round of mortar shelling on residential areas in the capital. at least one person said to have been killed and fifteen others injured it's the second time a bombardment by insurgents has caused casualties in damascus this week. eastern groups is a suburb of the capital and it's been under siege by pro-government troops since twenty thirteen but the violence there has dramatically intensified as regime forces attempt to topple the last rebel stronghold close to damascus according to some estimates more than four hundred fifty people have been killed in the district this week that's led the un to call on all sides to immediately and hostilities the security council is expected to vote on

a cease fire resolution later on saturday it was delayed after members failed to reach an agreement on friday they dog eared over a draft which proposed a thirty day truce and the evacuation of people in need of medical treatment russia maintained that there was no guarantee the militants would abide by the agreement moscow also said that it wanted the elmos for a group to be excluded from the truce put the. which is the main problem in eastern used as i mentioned he's consciously or unconsciously being treated the same as the other syrian rebels jim how to loose freeze not being touched and we still don't have evidence that the coalition led by the united states is treating. as a real target of course would draw the attention of our american colleagues to that fact we don't see her comments having any effect well it's been a tough two days of rhetoric and negotiations now it all relates to the district of use during that east of damascus a suburb that is currently under the control of rebels and terrorists that the

syrian government is trying to retake the city in an anti terror operation the anti terror operation is being widely criticized by western leaders recently we even heard from the u.s. president donald trump what russia and what iran and what syria have done recently is a humanitarian disgrace i will tell you that we're there for one reason we're there to get isis and get rid of isis and go home. we're not there for any other reason and we've largely accomplished our goal but what those three countries have done to people over the last short period of time is a disgrace the leaders of the international community are in full agreement that civilian life in eastern is very important and that the conditions are dire all want to make sure that civilians are safe however there are clear disagreements among your old leaders about who is to blame for the situation in eastern guta and

many western officials have been voicing strong opposition to the syrian operation in eastern guta but russia and others have long accused them of double standards particularly after the west's muted response to the campaign to liberate the iraqi city of mosul from islamic state which also had a devastating impact on civilians. by the escalation of strikes needs to humanitarian disaster systematic targeting of civilians this is how on eyes on going slaughter of trap civilians it's about the practice of the syrian government as well and we call on this including russia to ensure that this violence stops.

in iraq and in syria people are much more accepting that because it's clear their city being liberated they understand what they were suffering civilians will get caught in the crossfire civilians will get hurt civilians will get killed if you want to liberate your towns and cities it comes at a price unavoidable part of war and commanders have to press on despite that responsibility for civilian casualties in iraq and syria lies with isis we are the good guys and munition people on

a battlefield to different political analyst john white says the western powers misrepresentation of the situation on the ground will only add to the suffering of civilians. regime change propaganda as entered the realms of the fantastic queered in groups such as nusra front and jash which is the dominant faction in eastern guta these groups which adhere to the same ideology responsible for nine eleven and a whole litany of terrorist attacks there are no being depicted those rebels as partisans of second world war repute whereby the syrian army made the script soldiers drawn from every part of the multicultural and multi-religious with syrian society there no being p.t. there's a lot of the waffen s.s. an army of occupation the than an army of liberation so this narrative will continue syria comes closer to achieving its complete liberation and the suffering of civilians which no one can deny is being pool long by this continued attempt to

undermine the attempts of the syrian government and its allies particular russia to liberate the country. the us has set the date for when it will move its embassy in israel from tel aviv to jerusalem it will be made the fourteenth which coincides with the seventieth anniversary of the establishment of the israeli state here's what president trump had to say about the decision which has been causing fury across the arab world and beyond people calling begging me don't do it don't do it don't do it campaign against it was so incredible but you know what the campaign for it was also incredible and we did the right thing and with tensions running high on thursday a group of palestinian activists attacked the u.s. delegation visiting a research and polling center in the west bank city of ramallah the americans were pelted with eggs and have to be evacuated from the area since december when trump took the decision to recognize to reduce limits israel's capital more than twenty palestinians have been killed and around a thousand others injured in demonstrations.

next american has more on the symbolism of washington's move the fallout that resulted. but put it simply trump said he doesn't care what the world thinks about his decision to move the embassy to jerusalem which actually supports israel's claims to the city but when he says the campaign against his decision was incredible he means this. last november. quote.

even though trump doesn't care people in the region do today we saw clashes in hebron continue which israel on the other hand is praising from its minister for transportation thanks trump in a tweet even called him a friend of a back in december in a security council vote of fourteen countries condemned to trounce recognition of jerusalem as israel's capital and including and among those were staunch u.s. allies like the u.k. and france and in the general assembly one hundred and twenty eight countries got the use of the top struck to the security council and unable to perform his duties and do de kids a work of the international community but it is considered a blatant violation of the rights of palestinian people must be resolved through negotiation between the two parties are un members. throughout didn't all the

members this is bullying and this john but it will not. now despite international backlash the state department has notified congress that its embassy will be bouvard to jerusalem on may fourteenth which is much sooner than originally planned last month a vice president can set the embassy would be moved by the end of twenty nineteen but like you said may fourteenth also happens to be the day israel declared its independence back in one nine hundred forty eight and it was the day president truman officially recognized the state but considering the international community's past response it'll be interesting to see how they react to this latest announcement. gideon levy who's a columnist for israel's ha'aretz newspaper believes that moving the embassy will have dire consequences for the entire region. they are not it says he's supporting the occupation the united states is really slipping in the face and spitting in the face of the palestinians and moved he moved the embassy to jerusalem and in this same time the clear jews in eastern as.