iowa so when he started this it really was emulated in europe and other places and what's happening now does europe have programs in place that are similar so almost fifty years later in one nine hundred eighty seven the e.u. finally comes up with some money as a whole to give to individual nation nations within it but really it's a very different idea and in a weird way it's similar to the trump idea which is that in these particular nations these are for the what you're getting is direct food delivery to the most deprived people along with that food and those and those you get shoes you get toothpaste you get shampoo 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 let me ask you before 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 i did when when we look at these food programs all over the world is pretty efficient and effective in serving people in the u.s. bread i mean our of our programs proven to be or is there lots of waste the bottom line is there 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 fred kaufman 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. tell

us time is getting international recognition with the help of israel at least in the world of zoos i'm in bill fiddlesticks mission to do it look like you know. this isn't my cup of tea is going up to the study hall maybe you know john you tell nobody should be the only palestinians who gets the most hopeful is to some counterparts i don't think there's some of those who in the world under the oak vision know when to do this. i know it is unfair advantage to have this lady in the muscle that you had i'm going to compete in the doesn't seem to do more in the middle sauce don't put this off. with make this manufacture come sentenced to public will. when the ruling class is protect themselves. with the final

merry go round the sun. one person. time we can hold the room sick. to my room for the. united states is going very deep into mystic crisis challenge to american supremacy gene north from the outside most from russia notes from china but from the inside all sides and this is what you see now on around russia and this type of bull izzy's you know russians to this is psychological to understand the full of

times to find somebody outside the united states who is responsible for death while doing the problem is this. the first national bank of omaha based in nebraska has said it will not reach 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 question are companies a company run by donald trump a son in law jared pushed or. 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 to 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. you know i was going to say i 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 when 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 that 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 infrastructure 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 u.s. government has 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 let 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 eight hundred fifty and one america certainly never promised not to do business with anyone else and so to hear the secretary tell us and bring up the monro doctrine why. well traveling in latin america as if everyone president 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 china tell us that we may have a professor yet let me let me ask you just this 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 sort 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 the 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 this half a step back other than the trade component which is a real and and sort of bobby it seems to me and this takes place not just in latin america but we see it with the belt road initiative that it seems like it's a overarching foreign policy gambit if you will to avoid conflict in the future and i think that's one of the less articulated i mean you talk about it in your your paper but is that it when people discussion 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 i think your umbrella to be now you reckon china is also yes absolutely and saying that 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 companies countries for their infrastructure projects such as the belt road initiatives such as 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 as the as part of our tool box of soft power approaches 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 industry because all of those

countries that are putting in infrastructure the chinese money are using chinese contractors to do it so they're private so their 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 had 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 an 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 since you have 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 bust r.t. see you next time. we're similar to the sports to those still doesn't see this one of them one of them

so. beautiful yes but couldn't you push the door to push will see you in pretty modem clothes but there's material to my gym i do you know because you know i'm on the bridge with the story of the system. so it seems to me no will sometimes i use in the muzzle and you can split the. u.s.c.'s so you'll still. to go susan you go along with some of the feel of the motor shows you call pollsters the police when you should be busting the most of those issues to think oh well what you could give what you would usually do when they should be pursuing your thesis each of those dollars premium some of the best you avoid told me it was a little new 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 monger and warm up it turns the word. that just. certain i want to do things that show everybody is doing really be very clear right . away go to. management. and they don't they they when they have them they have the fattening. scam you need to feel this very. soft yeah i'm them what do you how much they have

become a celebrity look local just one day in the budget office that might if this was actually my helmet i mean that we could measure the cost more next. two days of crisis talks of the un security council failed to reach a breakthrough on syria still world powers are trying to hammer out a cease fire deal for eastern. occupied by both rebel and terrorist groups. people begging me don't do it don't do it don't do it and we did the right thing washington said the date for the relocation of its embassy in israel to jerusalem move to the palestinian state would destroy any hope of

a peace settlement. and european football authorities are investigating pretty much violence and spacing between supporters from bill and moscow. just in five an evening here in moscow my name is kevin zero in thanks for watching out international was appreciated welcome to this latest thirty minute news update and again it's headlining with syria the latest developments there today syrian state media reporting that islam is militants in the rebel enclave of eastern ghouta have launched a fresh round of mortar attacks on residential areas in damascus. at least one person said to have been killed fifteen injured today it's the second time of bombardment by anti-government forces caused casualties in the syrian capital this week he said go to get a handle on the map is

a suburb of damascus it's been occupied by rebel and terrorist groups now since twenty thirteen but the situation is really intensified of late as pro-government forces have been exchanging fire with those militants it's led the un to call on all sides to end the violence members of the security council indeed are expected to decide later whether to adopt an amended amended cease fire resolution to meet again in the coming hours this evening earlier members failed to agree on some important details of the document the draft originally proposed a thirty day truce on the evacuation of people in need of dire medical treatment there but under these conditions there was no guarantee that terrorists would abide by the agreement said russia moscow also said it wanted the illness of group to be excluded from the troops. which is the main problem in eastern time 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 it as a real target of course would draw the attention of our american colleagues to that fact we don't see our comments having any effect well it's been a tough days of rhetoric and negotiations now it all relates to the district of eastern ghouta that's east of damascus a suburb that is currently under the control of rebels and terrorists at 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 u.s. president donald trump what russia and want to read 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 world leaders about who is to blame for the situation in eastern guta many western officials be voicing strong opposition to the syrian operation in the minutes and stronghold 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 a devastating impact on civilians.

it is. by the escalation of strikes me humanitarian disaster systematic targeting of civilians this is how ongoing 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 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 and avoidable 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 with different. political analysts john white says the west imposed misrepresentation of the situation on the ground in ghouta will only add to the suffering of civilians. regime change propaganda has entered the realms of the fantastic quirin groups such as nusra front and jash al islam 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 green depicted there rebels partisans of second world war repute whereby the syrian army made up of conscripts

soldiers drawn from every part of the multicultural the multi-religious was a syrian society there are no being painted as 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 the civilians which no one can deny is being prolonged by this continued attempt to undermine the attempts of the syrian government and its allies particular russia to liberate the country. america's islam we would say embassy in israel from tel aviv to jerusalem on may the fourteenth much sooner than was originally planned it coincides with the seventieth anniversary of the establishment of the israeli state is the president trumpeted by 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 turkey now has voiced concern about the

decision to with its foreign ministers saying the decision on the embassy violates the u.n. security council resolutions for a start and demonstrates the intention of america to undermine peace since december when trump took the decision to recognize jerusalem as israel's capital more than twenty palestinians have been killed and run afoul of others injured in the demonstrations over it. more than on the symbolism of washington's move or the fall out this resulted from it. 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. person. was. 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 trump's recognition of jerusalem as israel's capital among those who are 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 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 then the other 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 the vice president penned said 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. of his for israel's newspaper believes moving the embassy now will

have done.