i think that with the glut narrative out of the way the idea that we're going to see higher demand in the next three to five years the u.s. being the number two produced in the world set to actually overtake the saudis within about three to five years as well that's where this news becomes very interesting and i think a lot of that is going to be taken you know with whatever opec may take offline whatever we might lose to sanctions with iran to sanctions with venezuela the u.s. is obviously going to keep up with that let me just ask you real quickly we're running out of time but do you think the saudis have some sort of grand strategy about sort of you know co-opting people around the country whether the run the world rather the u.s. or russia they announced this thirty billion dollar infusion into port arthur texas into that refinery or do they have some grander strategy with the ram cohen everything else going on here that's an excellent question i think saudis problems are much larger than even right now people are talking about because when you look

at the market share they're losing to their largest you know accounts think of china and think of india and the increased we're seeing russia supply india was seeing russia supply china same with iran saudis problems are far larger than the shale drillers here in the u.s. but when you add the market share they're losing to china and india along with the output in the u.s. they've got a huge one two punch that they're dealing with and so far i don't think their grand plan of driving prices lower to keep sell off line is working because the shale prices when you look at two thousand and thirteen to twenty say eighteen now it's cut in half the cost the shell producers are having to bear in fact they're going to be profitable for the first time ever so the saudis have plenty of struggles ahead we'd love to have you back with just barely scratched the surface but we're going to drill down deeper futures and currency expert at simpler trading horner thank you for your time. thank you. time now for a quick break but hang here because when we return we'll look at the trump

administration's new sanctions that we mentioned earlier outlaw we are going to actually talk with todd shipley that's what we're going to do get ourselves right here and we're going to talk to him about artificial intelligence and the defense sector the pentagon is seeking out some relations with silicone valley as we go to break here the numbers at the closing bell facebook's trouble with data protection dragged their stocks down as much as eight percent earlier today and the broader tech sector was weaker as well red arrows across the board for stocks dow closes twenty four six eleven oil sixty two twenty nine and bitcoins eighty three eighty one as we went to air. for a world cup twenty eight team coverage we've signed one of the greatest goalkeepers

of all the time but there was one more question and by the way he was going to be our coach. guys i know you on the us he's a huge star and the huge amount of pressure you have to put me to the center of the shuttle would you and do the great the great the good you are the rock at the back nobody gets past you we need you to get down there we have to go. a low as i want to you know and i'm really happy to join the team for the two thousand and three in the world cup in russia meet this special one come on both appreciate me to just say the review beyond the team's latest edition to make it up as we go so i need to just say look. the american man one is the melting. and the second is the arrange your knowledge are a mess of the bootstrapping. scene in america the works are so this is

a whole group of people all generation in america is saying that there is no melting pot we're not being assimilated there's no opportunities we can't live so their response essentially is to go into conflict and this is a measure of. the far right. isn't just on the march it's taken violent my daughter's action might need to take years you know you know i see things were going on in the oceans which are only usually split into which we take different names how do you view the. complex web of which are.

it's a busy week for the u.s. government as lawmakers will have to take legislative action to prevent yet another government shutdown when spending authority expires this coming friday the twenty third of march while neither side is eager for another shutdown congress must decide still whether it or how to address differences that include spending on military infrastructure as well as those dhaka dreamers that program that granted status now uncertain to immigrant miners on the issue of opioids earlier today u.s. president donald trump unveiled a plan to combat the opioid academic the plan aims to reduce what people would prescribe by one third over three years and also calls for reducing the threshold for opioid criminals to be eligible for the actual death penalty mr trump also asked for congress to allow medicaid for. and ing to be used for residential treatment for opioid addiction and in related news federal prosecutors in new york

charged five doctors with accepting bribes from insists therapeutics in exchange for writing more opioid prescriptions than were called for the indictment in the southern district of new york says the doctors were paid to prescribe a nasal spray application of the drug subsystem which is said to be fifty to one hundred times more potent than morphine. the chinese parliament has chosen a new chair of the central bank u.s. educated economist yang prior to his new role mr yeast served as deputy governor of the people's bank of china since two thousand and eight his appointment is expected to continue reforms to the chinese economy supported by president xi jinping the chinese central bank is not independent from the government or the chinese communist party like many central banks such as the u.s. federal reserve the european central bank or the bank of england. and mexico's former first lady has thrown her hat into the presidential ring lawyer

margarita zavala the wife of former president and ricky calderon was certified as a candidate on friday after electoral forty says she's filed the needed number of signatures savalas husband was selected as the nominee of the conservative national action party or pan but the follow will run as an independent challenging the pan's nominee ricardo annika who is currently running second in polls behind leftist andres manual lopez obrador are. as most of us know the trump administration released a budget plan earlier in the week it calls for an increase in defense spending of one hundred ninety five billion with a b dollars over the next two years how are defense dollars being spent in the united states we turn to former senior pentagon official michael maloof for the answers michael thank you for being here where does the billions and billions and

trillions as was spoken about in the past where's the money go it's going to be going to some of the largest defense contractors we have and part of it and i think it's all linked in with the need to create more jobs and these industries such as raytheon boeing and we can go through a whole little hit me with a us ones where when you talk about defense contractors so you've talked about raytheon and what i've heard all in there is lockheed martin boeing even be a east systems raytheon general dynamics northrup grumman they are making our new super mom or us. and and on and on it's three is another one that they are they are all over this town for the for the for the people who don't know if you go really within ten minutes of here just across the river into arlington virginia is bowing and they are walking distance and not

a theoretical walking distance they are walking distance to the pentagon and if you go right down three ninety five maybe two miles from here there is the lockheed martin building and they are maybe not walking distance because there's an expressway but they are within a mile of a u.s. capitol so the defense industrial complex is looms large in this town and given what we've seen in this increasingly complex world you don't see these budgets going down any time soon. they were down for a time i think they're going to be going back up and i have a suspicion that that's why the secretary of defense maddest decided and trump decided that in order to create more jobs for example we just did that hundred billion dollar deal with the saudis that's for aircraft that's for arms and i mean it's going to not only for our own defense purposes but that money is going to be coming in from outside sources in order to help fund all of these and then export

everything and it's going to be monumental and you got to keep in mind these companies as you point out are every every where they've got even the services that once their pet rock projects are up on the capitol hill they are a lobby and believe it or not they're pushing their their agendas their programs in addition to the companies themselves it's going to be it's going to be even more robust now that. madis has and trump have increased the defense budget and and you've got to tie that into also with the call by trump now to to improve upon nuclear weapons to improve to have a more strategic approach and that's what the big companies do they do more of the strategic weapons systems and that's what they're going to be needing i want to let our viewers in on a little secret i'm not sure it's a dirty little secret but it's a secret about how work gets done in here and maybe you could comment upon it work gets done and. in washington is that so you have

a defense contractor who may make something and i don't want to pick out an individual company or a byproduct but say that they make you know cool glasses that can see around corners or something well they'll have one part made and somebody is congressional district in another part made in maybe another state and they do that for what reason michael well every major defense contractor think strategically themselves they'll put some component of some kind that comes into for example like the air. thirty five you have to the plane that cost how much it's up it's going to be a trillion dollars by the time they get done and there have been all kinds of technological problems with it and they still haven't ironed out all the bugs it was a big donald douglas no that's lockheed martin lockheed martin ok lockheed martin the and i already said i wasn't really doing it united technologies makes their engines and so they're they'll put components companies that supply the components and every state of the of the union and order to make sure that their congressional

district has something there so that when they come in for funding the pressure is on congress to allow that money to go through and so it's going to be there's going to be a rise of that we're going to see an increase of that and it could be a whole myriad of systems and these companies rely very heavily on defense dollars for for their for their income. lockheed martin. boeing they were upwards of over fifty percent reliance on government contracts g.e. hundred forty percent really yes oh my gosh if so so is very high depending upon the companies and they have outlets in every state of the union in order to gain that couldn't get in order to get that congressional business of washington folks for better or worse lot of times it's worse but it does keep our nation strong. now michael let me ask you you know back in the day we all heard about the four hundred

dollar hammers and the waste fraud and abuse has that gotten under control through the inspector generals and another mechanisms that d.o.d. are still problems i think there are still problems the problem that we've been seeing is that there has been no auditing that's been going on with how defense monies are being spent i think one point eight billion disappeared nobody knows where it went recently it's and nobody is expressing alarms over where that money is going. but there was a rush to increase the budget no accountability and a lot of this has to do with the pyramid process you have you also have contingency funds that these funds will flow into in order to in order for the congress when they go up on every quarter to ask for supplementals. well they haven't had a budget in two years so now this is going to increase with these supplementals and you're going to see that go skyrocketing last question michael i remember years ago two thousand after the supreme court decision and george w.

bush was was the president my wife and i said boy this is a probably a time to invest in defense stocks and it turned out that would have been a pretty good gamble or similar point in history i know you're not an economist or market analysis and analyst i'm not asking to do that but are we to similar time in history we're now would probably be a good time to invest in defense stocks and defense companies i would say common sense would dictate that now that you have a two year budget ahead and that the the basis for increasing that budget has now been laid out it's probably there's probably going to be even more appropriated for it and that's going to affect every district in the united states every congressional district in the united states and that means jobs you bet it's going to mean it's going to mean something and and believe me it's actually going to be on the rise very significantly and that that type of spending. former senior

pentagon official defense stock picker no i'm sorry michael maloof thank you for your time appreciate you being here. and before we go d.h.l. the german delivery service which effort did then retreated from its expressed delivery service in the united states back in two thousand and eight is planning to try it again this time they will begin with same day delivery service in chicago new york and los angeles the plan is to then expand to dallas atlanta san francisco . and right here in washington d.c. as a note you may recall the last time we had boom bust left d.h.l. there delivery failure of food to kentucky fried chicken locations in the u.k. had closed hundreds of stores those stores were all back open but d.h.l. lost much of the new delivery contract to roughly three hundred fifty k.f.c. outlets in the u.k. the k.f.c. contract has gone back to bidvest the original delivery company that said we want

competition we don't like monopolies here in the u.s. so good luck to d.h.l. in the u.s. competing with u.p.s. united parcel service and federal express you we hope will do delivery right and as they say with k.f.c. we hope you do it so good thanks for watching be sure to catch boom bust on youtube youtube dot com slash boom bust our team catch you next time. a little blog selling you on the idea that dropping bombs brings police to the chicken or forcing you to fight the battles that are going. to stop spreading tell you that the gossip a toddler's. mother has been telling you are not full enough like. all the horror that we along.

with one. well you know the cars they were kind of adopted because we were called pirates of the so long. i mean they're in the small boats next to the harpoon ships and it's stanley. cup and. the limo filth to big top fish already ninety percent of the dot and it won't become a. concept if teams groups seventy five tons try to do it several times a day with the big feet down you get an idea or an ocean. we have to understand we can know stories through or just. be within this be used

for you because. i'm doing this because i want the future world to the future can generations to have and enjoy the ocean we have. to keep american mets one is the melting pot and the second is the ratio alger myth of of the bootstrapping of anyone can succeed in america the works are so this is a whole group of people all generation in america is saying that there is no melting pot we're not being assimilated there's no opportunities we can't live up so their response especially is to go into conflict and this is a measure of. how does it feel to be a share of the greatest job in the world it's as close to being a king as any job there is a good business model helps to run

a prison now we do this do or don't like is there nobody over the place and they don't no one comes anymore we don't have to serve them anymore. is cost effective that's what they want to do that long they don't give a damn if you didn't charge on that very badly by you know to put it back into. the louisiana incarceration rate is twice as high as the us sam bridge what secret is behind such success.

with the. war. on terror. remembering the torture. securing a. special

. welcome to the. u.k. prove or apologize for its accusations over the poisoning of a former double agent in the city of. that it had nothing to do with the attack the foreign ministry reminded the old chemical weapons and destroyed. the global watchdog the organization for the prohibition of chemical weapons adding that brussels on london's accusations are actually putting the internationally recognized body. well on monday the e.u. issued an extremely cautious joint statement over the incident something picked up on by moscow r.t. if you've got a standoff has more of the european reaction you issued

a joint in the very careful statement on the whole case of the poisoning of the script poisoning they did not pin the blame on russia but the expressed grave alertness grave worry about the whole thing they've said that the are treating the incident very very seriously and they've said that the use i quote of chemical weapons by anyone under any circumstances is completely unacceptable and they've demanded some more information from russia effectively because everybody's a lot of countries are pinning the blame on russia for it french president emmanuel mccall and even included one into his congratulatory message to vladimir putin nato also weighed in on this have a listen we continue to call on russia to provide the complete disclosure. program . expectations for russia to address the questions raised by the international community and to provide disclosure. for them to the

w. is to talk to leaders who works with our obligations under the treaty on chemical weapons and i would i contrast that with the russians russia has been expressing its eagerness to cooperate with the investigation they have repeated a number of times they've officially asked the filed an official request for samples of the nerve agent used to poison scruple to be provided to russia for analysis to find out what it's where it's coming from where it could be coming from who may have produced this sample none of the official requests of russia have been fulfilled instead there's been a barrage of accusations and of. explains itself despite the probe into the poisoning of sort of it's clear pollen his daughter is still ongoing a media way extremely quick to blame russia as artie's jaclyn of reports the west

is in no doubt russia tried to poison one of its ex agents on putin's orders but if true that's actually a bit embarrassing professional assassins cover their tracks they don't leave their fingerprints all over the scene yet that's what using a nerve agent produced only in the soviet union essentially amounts to at least if it was the russians on top of this the assassination bid looks like it was a botched job with collateral damage and it's attracting an intense amount of global scrutiny presumably that was not what was intended and not what you'd expect from a slick all powerful secret service russian or not and yet outrageous an illegal act on british soil an attack on the united kingdom new generation against the west the increasingly violent erotic approach of the right content to contempt of the rule of law and contempt of our values so which is it bumbling idiots or super spies if we look back it seems that answers that question can be tailored to fit

the situation take the alleged hacking of the us presidential election washington call the operation sophisticated and attack the likes of which have never been seen before russia's blatant interference in the united states twenty sixteen presidential elections any have said this is actually the crime of the century you have any doubt that russian interference is driven by himself no doubt and yet those sophisticated attackers didn't make the slightest effort to hide their locations and he tom dick or harry can throw their ip address to make it look like they're based anywhere in the world and yet all the ip addresses were russian a similar situation was seen in germany not long before their national election took place again the conclusion was that moscow was behind the hack because the ip address. originated and russia however we've seen the exact opposite as well when south korean government computers were the targets of cyber attacks during the winter olympics the ip addresses used were from inside north korea but it was

determined the hackers were russians they were simply masking their locations this time around damned if you do damned if you don't. you know everything that goes wrong must be russia we have a police saying that actually it's going to take months to try and find up trying to work out what happened build the other dench will change and yes on another hand as well we have the british media immediately stampeding to say it must be the kremlin it must be russia so this strange mishmash of speculation is very distressing to someone who used to work on the inside i would say as well that people like me have been challenging this narrative in the u.k. media for the last two weeks ever since the attack happened and the list could go on but the point is the western narrative doesn't care if russian intelligence is smart or dumb or anything in between it only has to be one thing and that thing is guilty. it is exactly fifteen years since the united states began an operation that called iraqi freedom commonly known as the iraq war and what began

as a promise to liberate a country from a dictator turned into years of conflicts across the whole region is a reminder of how it all how it all actually unfolded in less than a teaspoon full of dry anthrax in an audible shutdown the united states senate iraq declared eighty five hundred leaders and for. many iraqis can hear me tonight in a translated radio broadcast and i have a message for them the tyrant will soon be gone. the day of your liberation is near .

tonight i am announcing that the american combat mission in iraq has and. it will take time to read a case of cancer like i said we will conduct a systematic campaign of airstrikes against these terrorists. but.

what's concerning is people who copy from crossfire those innocent people of mosul are the ones who'll be quire dark humanitarian assistance. one of the doctors pages in the wall was the exposure of the torture of iraqi prisoners at the abu ghraib prison a warning you may find the following images disturbing.

he has spoken to some former abu ghraib detainees who described their ordeals. we'll know more when the americans arrived with their tanks we thought they would read us of the harsh regime everyone would have their own house and car just like in the wealthy arab countries or in the west but it turns out to be the opposite. they would hang a prisoner on the metal door of the cell and subject them to electrocution or urination they would stick around.