present injury. somehow want to be rich that has to go to beatrice was it was before the tree in the morning can't be good that i'm interested always in the waters in the house. just sitting in a. local blogs telling you of the idea that dropping bombs brings police to the chicken hawks forcing you to fight the battles that don't. produce offspring to tell you that celebrity gossip and tabloid bias files are the most important news today. but i'm often asked as he tells me you are not cool enough and wants to buy their products. things all the hawks that we along with all those walking around. the new global economic war is unfolding in the realm of education the right to education has being supplanted by the right to access education its high

education is becoming just another product the fortune sold under small just about education anymore it's also about running a business where you could. kind of. want is the place of students in this business model before college i was born now i'm an extremely more high education but the new global economic war. there are not ones out. somehow flintoff let down one by its nature the definition is you know i'm back and. once you king of new south. take him you know it was in the south yes it did. the damage and then you're going to bring. it with a kind. of young movie right now i think.

i'm going to know what that beach. south. to do this just feeling the one thing i love just i you know be deep but let me focus on tokyo found it was going to happen to him. and his work with because did it because he didn't seem quite a cultural critic of the premise. welcome back to take as a report imax keyser time now to return to wolf rector of wall street dot com the

go to guy for insights into the global macro economic picture and what's happening in san francisco and that real estate anyway won't come back thanks for having me back max. let's dig into more fun financial stuff so trump brought in the tax cuts and of course the democrats were arguing that everybody would hate these tax cuts but in fact a lot of people love the tax cuts and tell us what your thoughts are markets have been soaring house prices have been spiking higher wages are starting to rise and the tax cuts. corporations are certainly seeing massive gains can these gains of share stock buybacks and other boom signals ripple across the economy will. well tax cuts are good for those that receive them and so a lot of the you have

a pretty broad base a lot of people receive them sell a lot of people happy with a little part of them obviously some people are going to get a heck of a lot more in tax cuts and others stay. but you know there are there are problem in many other ways including. government funding requirements are going to soar. that's already happening so you have a large amount of new debt that has to be issued by the u.s. government that has to be absorbed by the market this is going to put pressure on the bond market. the corporations they have been very busy buying back their own shares that's a that's a. they put some power underneath the stock market when when we had the sell off corporations were just both the only entity that bought that's not a particularly good thing for the economy when corporations spent their money buying back their own shares so that doesn't help the economy at all. but overall i

think you will see some uptick in the economic activity due to the tax cuts. i don't think it will be long term i think the in a b this year maybe going into next year. and i think or we're back to normal here. and then a hand. there are some provisions in the tax law that make homeownership. a lot less tax beneficial and in many ways and so i think that the housing market is already feeling some pressures on them not in terms of prices but in terms of while you may have seen pending home sales in january just crater. that was the first month in which the new tax law is taking effect so home buyers are are starting to look at this i think and so it's a. it's a mixed bag and the housing market is not going to crash like

a stock market can't crash it very slow moving housing markets take a long time to change direction so this won't be visible on the national average for a long time yet maybe by the end of the year that we see the first significant declines in terms of prices it may be later yeah maybe next year they will see them so there you know these two kinds of impacts the housing market is very important to the economy if if it starts going down too far. there's going to be a konami issues we know that developers are overbuilding with high end housing units all across the country they're not building enough affordable units and given our current prices but they're building the high end unit said they're now city make it i mean you have lots of apartments in city like on condos in cities like san francisco and seattle that are high and years that are taking you know there's no market for them this will impact the market to go along with changes in mortgage

in the mortgage deduction mortgage interest deduction i would think so i think the housing market will be impacted negatively by the tax law corporate share buybacks will be impacted positively i think the bond market will eventually have a day of reckoning because of those. increasing government deficits that need to be absorbed yeah you mentioned the delay in house price reacting to changes in the interest rates or the economy remember back in one thousand nine hundred seven after the stock market crash real estate and new york city didn't fall in a big way until one hundred ninety so it's a three heirs for that catch up to reality and then we had a severe downturn and property in new york city now what's interesting is that the trump tax reform bill and tax cuts. it hit the blue states pretty hard and it opened the way for some money pouring into the red states it's it's

interesting of course trump is from the northeast and yet you would think he'd be friendlier to his friends in the northeast they got hit pretty hard and the states in the in the red states benefited a lot in a seems to be open to making policies that anger what would be his natural base i think some of the caught his comments recently referring to the gun lobby same's to go against everything the g.o.p. has been talking about for quite some time but comments if you will on the way that different regions in america are impacted by these tax cuts. well so and terms of the housing market california and the state of new york are dramatically impacted by these policies. and they're also economically the two biggest states in the union so you know if you

want to hurt the economy. biggest economic entities in the country even possibly did have it's not a very good economic policy and that's what a lot of people are saying now you know he went after. the blue states and the blue states the big ones you know the konami very very large and so this is not going to be very beneficial now i think if you're in california for example in san francisco there's a lot of running going on so the impact isn't quite as huge because you have. companies or landlords you know that own a lot of the housing stock and individuals are renting and renters have benefiting from the tax from that doubling on the standard deduction they get it they get a huge benefit out of that in san francisco or fifty percent of the housing units around all apartments so i think it's like sixty sixty some percent so these people are not negatively impacted that positively impacted and the landlords own these

homes as commercial enterprises so they're not negatively impacted either so you know it's i think you can overstate the negative impact on the overall economy in california from these policies but. you know for many people this is here you know is actually a positive turn of events if you're running an apartment in san francisco and your standard deduction is doubling you know that's a big thing and that impacts a lot of people in very expensive housing areas not only in california but also in new york and elsewhere you know city has a very large population of renters to and the pop. absolutely impacted by this so it's you know it's a give and take. talk to me a little bit about some forecasting that you say in twenty eight saying you know wall your work at wall street dot com you look at the economy and look at trends what do you say as maybe two trans that we should be watchful of here in twenty

eight saying that maybe people are not really aware they should be looking at more closely wolf. i think housing is going to. turn and we'll see the. details here and there crop up and i think the picture will become clearer by the end of the year ok so he's passing wall turn the last time we had a bank crash in housing was two thousand and eight the subprime crisis the banks bailed out the creditors and they did no reform whatsoever and they just gave a lot more money to speculative house builders so you think that that cycle now as peak and will turn down again. yeah i don't think you will look like it did last time it will look differently it always does look differently. some prime is not as big of an issue the banks are more capitalized. and this shit thinks that the fit banks a lot stronger so i think the fed will let this go you know there will there will

bang stock just as some of the risk has been spread. fannie mae and freddie mac. already run by the government so. this scenario looks very different and less worrisome so it will be allowed to continue i think. perhaps the market would actually be allowed to set prices and in the housing sector for want let me jump in there what you're saying there is that during the two thousand and eight crash the fire wall that protected the inner core of american finance the plutocrats if you will that control the big money was breached and those guys were actually at risk warren buffett was at risk george soros was at risk you know the big guys were actually in a risk position and therefore they coerced the government more or less to print another fifteen to sixteen trillion dollars to bail them out but you're saying now that firewall between the political their own house is strengthened so in this

housing downturn they're just going to let it rip and let the banks absorb it let the house builders absorb it let the homeowners absorb it just let this thing crash and work its way through the system your thoughts. yeah if it really crashes you know if the market completely dries up and freezes over and if it does some very serious damage very quickly i think they'll step in but if it's just a housing downturn that plays out over years and doesn't cause any sudden damage just prices meandering low or year after year you know i think i will let that go so you're a look ahead is for rates to rise we've talked about rates and my my thought was that you know more apocalyptic but in your view they're responsible wall street dot com the guy people go to for the responsible look at things so your view is that

rates are going to kind of gradually move higher and we're going to start to say these asset prices will reverse themselves and maybe and turn what you might call a secular bear market so stocks and bonds and property enter a five to ten year downturn your thoughts. yeah so that's what i'm thinking i think . and then again i admit that this may be wishful thinking because i really do not want another huge crash with credit freezing up all over the world this is a catastrophic scenario that i don't want to see a second time and i don't want to see the central bank reactions to it so my wishful thinking is that this will out work out gradually that you'll have a. step by step decline in asset prices an increase in yields that start chest a ball more or less for the economy even though there will be some pain and that it will drag a out or be spread out over enough years to war each year itself is not catastrophic

you know we're not there's not one catastrophic day in it that solves all this but then it's spread out little bits and pieces and across many sectors across many countries and that it will get back to some kind of semi-normal status but gradually not all in one day right so interest rates raised their sixty to seventy ere long term trend bobbing around that five percent level that at one percent level well thanks so much being on the kaiser report thank you that's going to do it for this edition of the kaiser apart with a mask as are and stays there but i want to thank our guests well for xor of wall street dot com join catch us on twitter at kaiser report that i stand by i'll.

let you go simply to tell you it's none of us and others like me and one million people that. he killed people even dangerous. no no one's going to everybody's rounded up and that's. the legacy of the communist era has left i'm assuming a lot of of the legacy waste as well am assuming again from my understanding of the

soviet era that there was much more of a culture of a review system and not throwing things the way that i think a society that emerged out of that tends to reject so it's a matter of moving back to that. church secret indeed just like priests accused of sexually abusing children can get away with it literally i like to call this the do graphic solution so what the bishop needs to do then he finds out that the priest is is a perpetrator is simply moves him to a different spot were the previous standards not the highest ranks of the catholic church conceal the accused priests from the police and justice system to that end

it has known as the i intend to include at tuesday's out in. his faith. in the hearts of the swiss alps. this is a place probably more secretive than the pentagon more mysterious than the cia and better guarded than for knox swiss customs are here permanently and all the site is controlled by them and they impose the opening times. opposite it is from is all plus the procedures in place of the strictest in all europe must to pieces by artists like pecan so and modigliani i can't boards and sold inside this warehouse that's where the report comes in it covers a deals which are naturally discreet commercially discreet step but also discreet because they concern fraud of some of those paintings are linked to dark secrets

nobody knows how many of these secrets a kept inside the geneva freeport system you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand is it a matter of confidentiality only is it the world's black box of the art business. the. go.

was. russia holds talks on a second group of militants leaving the syrian rebel enclave of eastern gosa after the first group left the area on friday. a former police officer in north carolina faces jail time over a brutal assault of a black man accused of chain will king after a video of the incident is leaked. by per. hour was power. and the global hype over a meeting between donald trump and kim jong un may have been premature with conflicting messages now coming from the white house.

and you're watching the latest headlines here at r.t. international thank you for joining us. the russian military is holding talks with rebel leaders in the syrian district of eastern cusa the goal is to get us. second batch of militants out of the besieged enclave on friday several an armed fighters were scored out of the area by syrian soldiers as in previous cases across syria the jihadists surrendered in return for safe passage to other areas still held by rebels while also on friday un humanitarian convoy finally managed to enter eastern ghouta it had been delayed by heavy fighting between government forces and terrorists and according to the latest u.n. estimates the fighting in eastern guta has resulted in more than one hundred deaths in the past few days the united nations also called on all parties in the conflict

to end the violence rafael harder from the red cross says people on the ground require a wide range of basic supplies. the need of people remain massive the needs are. two four three four etc you have medical needs you have need for access to work good source of food you need also access to to clean water you have all sorts of needs inside water today the priority remains medical help that we need to . reach with people inside all day and food aid as well what happens when a seven thousand five hundred people which the trucks on monday and today were able to provide humanitarian aid to are just a little percentage of what all of the people who need the military aid inside. and on saturday syrian officials said they had evidence of an upcoming chemical attack by militants the aim was to provoke an external response against the government the

alleged attack could still happen on sunday. two hundred f.p.m. stormed out of interest storage and how my province we found containers with explosives filled with chemicals we also found twenty four tons of chemical poisons thought to be chlorine we sent all the information on these findings to the organization for the prohibition of chemical weapons un joint investigative mechanism wasn't examined as these organizations wanted to blame the syrian government on middle east analyst told us militants in syria have a track record of using chemical weapons to derail peace talks. we noticed kind of pattern whenever there's a there's a council meeting human rights council meeting or screwed a council meeting prior to this we see this kind of attacks and we see this kind of issues being raised by the french or by the british and relation to the issue in

syria i believe this this kind of pattern takes place just to divert the current peace talks by the russia and to resolve this matter especially in the issue of all the cities and villages which. by syrian arab army we syrian army didn't use any chemical weapons so why now there is not enough to compare those. in doing that but it is a chemical weapon as a scenario you know total target is syrian government and to demonize the syrian government accuses it. to to build on that accusation in order to have more pressure on the syrian government and. they are preparing now as a crank you know that the preparing for that scenario. well this week has also seen claims of a chemical weapon attack on the go to this was reportedly carried out by the syrian

government something damascus denies the issue of chemical weapon use in syria was also raised in a recent n.b.c. interview with vladimir putin do you believe that chemical weapons attacks in syria are fake news. of course firstly the syrian government destroyed its chemical weapons long ago. secondly we know about the militants plans to simulate chemical attacks by the syrian army in the sense that on the. me. after to and thirdly all the attempts that have been made repeatedly in the recent past and all the accusations we used to consolidate the efforts against. you and your the cockpit look. after them number two we are aware of these goings on and they are not interesting. because one wants to say boring since the beginning of the year there have been at least four at least four chlorine based chemical weapons attacks

in syria our secretary of state dollars and just said that russia bears the responsibility for this given your earlier promises to rein in chemical weapons attacks in syria your response. yes because your thought when you my can see that firstly we have nothing to do with this and secondly we demand a full investigation as for crimes return to iraq or pleas and at least bury the bodies still lying in the rubble following the massive raids on residential areas where president putin was referring to the u.s. led operation to liberate the syrian city of raka from islamic studies the campaign is believed to have resulted in a west two thousand civilian deaths and in the american liberation of mosul in iraq the death toll is fair to an even higher but the western rhetoric over losses in a single compared to mosul is strikingly different.

by the escalation of strikes needs to humanitarian disaster systematic targeting of civilians and this is how on our ongoing slaughter of trap civilians it's about the focus of the syrian government as well and we call on all that matters 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 but 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. britain's home secretary amber rudd has called for the police to be granted the time and resources to probe the poisoning of former russian spy assad and his daughter yulia. there are over two hundred fifty counterterrorism police from eight out of our levon counterterrorism units involved there's over two hundred witnesses involved and there's over two hundred

forty pieces of evidence so we need to give the police and all the investigative parts around them the space to get on with that. sort of statement followed a cabinet meeting on the nerve agent attack in source where last sunday military personnel have been deployed to help police with the investigation and potential decontamination rod also confirmed both russians remain in a critical condition former m i five officer and he made sure believes almost anyone could have poisoned the script. the key thing they need to be doing and they will be doing is looking into what cripple has been doing in his life since he's moved to the u.k. and i think that's where the the motive for this attack is going to come from because let's face it you know intelligence turns he was a busted flush do you fit state level actors that have the capability of producing this sort of agent however in terms of who might have used it that is

a different question to say that if it's a state made agent must be a state attack is i think disingenuous at best people can get their hands on this sort of thing gangsters and criminals can get their hands on this sort of thing if they've got the right money to pay for it. after the surprise announcement of face to face talks between donald trump and north korea's kim jong owner mixed messages are now coming out of washington. this meeting won't take place without concrete actions that match the promises that have been made by north korea we're ready to have before reading without precondition. unless we talk about the weather. well it's not the first time washington has been inconsistent in its policy on north korea with potential progress now being made artie's caleb maupin looks at who to serve the credit.