and nasdaq have both risen more than thirty percent since the november two thousand and sixteen elections today the chinese commerce ministry said quote we do not want to fight but we are not afraid to fight a trade war president trump defended his actions on twitter today citing a fall in the price of aluminum which experts say happened because mr trump exempted canada and mexico from new tariffs some notable domestic stakeholders criticized mr trump's trade actions including the national retail federation the information technology industry council and republican senator ben sasse of nebraska a state with a heavy stake in agriculture production. and speaking of agriculture a u.s. based aggregate giant cargill released a giant or greedy think corporate statement expressing concerns about trade tensions cargill officially said quote we're deeply concerned about the trade tensions and are urging both countries to get to the to go shooting table there are

no winners in a trade dispute us ag exports including soybeans sorghum coord cotton before orange juice rice and pork and even though it's not a traditional egg commodity we can toss in whisky as a kicker all would be hit by china's announced retaliatory tariffs on u.s. exports the u.s. annually exports an estimated twenty billion dollars worth of agricultural goods to china. and see if the committee on foreign investments in the united states also the national security regulator has approved japan's softbank to purchase u.s. base fortress investment group for three point three billion dollars but is required as part of the deal that soft bank give up control of a fortress therefore reducing influence over fortresses thirty eight billion dollars in assets. the island nation of bahrain the first arab country to ever produce oil beginning back in one nine hundred thirty two as discovered at least eighty billion barrels of oil off shore of the kingdom it's

a major discovery while the deposits are said to be a high quality extracting them could be costly and therefore impact the profitability bahrain said it's looking to be global oil companies to help in assisting the development of the discovery. and according to euro stat the euro zone's jobless rate was reduced by another tenth of a point to eight point five percent the lowest overall euro zone unemployment rate since two thousand and eight in the u.s. stocks fell sharply on friday while the labor department's bureau of labor just says to release our march jobs report which shows a continuing unemployment rate of four point one percent for the six months in a row and one hundred thousand jobs were created in march and that added to the economy which came in below however expectations of one hundred eighty five thousand jobs average wage growth is up two point seven percent year over year that

comes out to be an increase of eight cents per hour and to give us more in-depth look at the markets and jobs report we're joined by danielle de martino booth founder of money strong the author of fed up and a former advisor to the u.s. federal reserve danielle thanks for being with us i want to get to the markets but first let's go over the jobs report and what do you make of it. you know i think that is as bad as the headline numbers seemed i mean it was basically half of what expectations were that really if you combine february's blowout three hundred twenty five thousand with march's one hundred thousand that was disappointing you star the two of them together and it was an ok report you know i think the federal reserve policymakers will be focused on that two point seven percent average wage again that you just mentioned that that's a bounce back from what we've seen we do want to see american workers start to make more money take more home in their paychecks so that is

a promising sign but again federer policymakers will be focused on whether this means that the bogeyman of wage inflation has started to come out and we always like to take a little deeper dive at the numbers danielle i know you do to do due to what happened in the individual sectors i we've talked about manufacturing in the past but what's going on with if you dig deeper into the numbers. well you know in february we had sixty one thousand jobs created in construction which is extraordinary for one of the coldest months of the year so we saw give back in march there twelve thousand construction jobs were lost there were also forty seven thousand jobs created in the beleaguered retail sector and february and we saw losses and retail as well you know we have seen a sizable rebound in oil prices so we have seen jobs created in the oil patch we saw a nice rebound in manufacturing jobs there were there were jobs created in the wholesale trade industry a lot of the a lot of the kind of industrial sectors that president trump has his eye on had

a very strong showings in march despite again what that headline number seemed to communicate right was very interesting you know i want to get to the markets because they tank so heavily today in the markets just closed down two point three four percent that's down five hundred seventy two points to twenty three nine thirty two daniella nasdaq also down terror terribly you know it seems to me that this really hit must be related to this trade i don't know if you can call it a strategy but all these tariffs what's your take on it we haven't spoken about it before. well but mark to your point i'm not so sure that we can actually call it a strategy per se i think the markets were really taken aback i was watching asia open last night when the news came out about further further trade sanctions for their trades to tariffs and it really did take the markets by surprise last night i

think investors woke this morning saying wait a minute i thought we just had three days in a row in the market and we were celebrating a lot of the tensions coming off and i think some of his closest and newest advisors were also taken by surprise by the move and so you have to ask yourself if this if these are negotiating tactics that's one thing but it certainly doesn't seem to feel at least like a strategy when the markets are going to react as violently as they have and we've known for some time that the markets are extremely jittery about all of this trade war rhetoric and today we've seen what happens when when when we get further news from the president and it seems like it is coming directly and individually from the president i don't understand if it's a strategy not what you have larry kudlow saying we may not even do these things the secretary knew should saying don't worry about these these drops so i get concerned we've only got about thirty seconds left danielle what's your take on the

president's hitting on amazon and their stock has taken a tumble and he's tweeting and going after them all the time. again it's a question of how he's going about doing it bart it's not so much that amazon might wield too much power over the us consumer and probably has more information on us than we would be comfortable with and that that might need to be governed to a certain extent but again it's the way that he's going about it that is so very unsettling when there are much more traditional means much more traditional conduits for him to pursue and yet he's not doing that so it's again these are things that rattle the markets they unsettle and basters and rightly so daniel de martino both founder of money strong and author of fed up thank you as always for your time have a great weekend thank you likewise. with

more and more people entering the working force every day many of them are struggling to find affordable housing it has come at a big issue for some of the america's biggest cities for a deeper dive into these issues let's hand it over to our g. correspondent trinity charges in new york. spring has sprung and while this is the time of year considered to be home buying things then buyers are faced with a dilemma the problem being is that there is a lack of homes for sale in the market now many are wondering if we are facing a new housing crisis according to a recent report by the wall street journal a decade after an epic construction binge fewer homes are being built per household than almost ever before and fact it is near its lowest level in sixty years despite a fairly strong economy and millennial growing desire to start buying homes home construction seems to be at a screeching halt and the record low housing supplies are driving up prices and curbing sales especially for millennial looking to buy

a starter home for. the mortgage rates have gone sky high the market is really in turmoil and. want some of. the clients that i have. you know the saying be afraid be very afraid they afraid of variety of factors are contributing to the slump including strict housing regulations a land shortage and a lack of construction workers industry experts say that the demand is outpacing the supply in places across the country ranging from san francisco to new york to grand rapids michigan and according to data solutions home sales have also dipped in other areas like hartford connecticut toledo ohio and baton rouge louisiana according to the national association of realtors the total inventory of homes that reached its lowest recorded level at one point four million during the fourth quarter of two thousand and seventeen the national association of home builders

predict that workers will start working on less than nine hundred thousand homes in two thousand and eighteen they had not been built because you have to request money contractors and developers once they started building everything at one time remember the market the market crashed so you. you have someone that built one hundred fifty. one hundred fifty complex of condos only forty percent was being sold so guess what they had to do the prices went down they lost money they had to go in foreclosure so that's what they're thinking it's going to happen again the lack of him and tory is causing prices to rise much faster than income growth and inflation and it has barked bidding wars across the country as well so a lot of people are losing money developers to maybe they are just holding on to be safe because if we build it can we sell it and that's what they're going through so

to me it's not even the buyers it's the buyers and the developers because everything has stopped and the city's residential sector saw about eleven billion dollars in development for two thousand and seventeen down a whopping thirty one percent from its two thousand and sixteen peak of sixteen billion and there have been few indications of improvement according to the u.s. consensus data construction is still lower than its historical averages. and the number of construction workers in the country have dropped from ten point six million in two thousand and ten to ten point five million in two thousand and sixteen while existing homeowners are staying put for the most part experts say that if you're thinking about selling the sooner the better reporting in new york trying to chavez are to. time now for a quick break but hang here because when we return the intrepid always interesting militaire and helps us to look at the brazilian economy as a former president prepares for president and sports economist victor matheson

helpless look at the interesting economics of golf as the masters one of the four major golf tournament speech here takes place last there's the robots in an arms race i'll explain as we go to break here are those pretty sad numbers at the closing bell stocks across the board. well on the trade today's trade will be right back. on that one of them was so much at all of them mama. i don't want to set off a bit of that if someone you're going to. be able to do a little. on the critical well what if there could be chilcote you know.

sort of. what i mean yanukovych would think he's going to get so for the swing. state the question is still yes but all yes the chest but by the west of here for everyone that it's a book but. twenty eighteen coverage we've signed one of the greatest kill people. but there was one more question and by the way it's going to be our coach. guys i know you are nervous he's a huge star and a huge amount of pressure you have to book an eight percent of the. and we'll show

the great. game you are the rock at the back nobody gets past you we need you to get the best go. alone. and i'm really happy to join us to. meet the special one. meets just at the reno theology team's latest edition of make up this week a. look at. what politicians do. they put themselves on the line to get accepted or rejected. so when you want to be president. some want. to go right to the press was one of the four three in the morning can't be good. i'm interested always in the winds in the. first.

the trumpet ministration has announced new sanctions against russian individual companies and government officials the measure freezes assets of seven wealthy russians and seventeen government officials cited by name as well as a dozen companies said to be linked to them many were associated with state owned firm gazprom and the energy sector in general. and in related news i b s the russian information technology services company is seeking to raise more than one hundred million dollars in an initial public offering the i.p.o. will be viewed in light of deteriorating relations between russia and the west and

will test if there is still an investment appetite for russian companies from other investors around the world the i.p.o. listing will be managed by city renaissance capital and so capital t m t m k the russian's largest oil and gas pipeline manufacturer decided not to go forward with their own six hundred fifty million dollars i.p.o. of the united states counterpart in february do they say to market volatility. and making good on a campaign promise french president emmanuel mccrone the government has proposed a plan to reshape parliament and reduce the number of legislative seats by thirty percent from five hundred seventy seven to four o four in the national assembly that's the lower house and from three hundred forty eight to two hundred forty three in the senate the effort is touted as a way to expedite legislation although some detractors question how democracy is improved with less representation. and unbagged insurance group

a large chinese conglomerate will receive a nearly ten build. dollar bail out the company whose previous chairman was on trial in recent days related to fraud charges came under government control in late february what remains uncertain the move is touted by chinese regulators it's a temporary fix with the ultimate goal of returning on bank into private hands with new longer term investors. and as the brazilian economy remains on a rough rollercoaster ride the former president is headed to prison here to help us out and understand what's going on is our correspondent in manila this is a crazy circumstance we've been hearing about explain that for for of years and free well i'll try so as you know the ongoing political turmoil in brazil is tanking their economy apart yesterday brazil's top court ruled that the country's favorite politician x. president luis inacio lula da silva more commonly simply known as lula can in fact

be sent to prison while continuing to appeal his corruption conviction and in spite of this lula contend that he will seek another term in office and run his candidacy from prison believe it or not what's he going to prison for you ask investigators say he was the ringleader of brazil's biggest corruption ring that led to the collapse of giant corporations that resulted in the tanking of their economy and tens of billions of dollars in government debt and his supporters which amount to more than one third of the country which is more than two hundred million people will say this was a political hit job now it was the head of the socialist workers party who was in power for about thirteen years they were credited with putting brazil on the world stage over the past decade securing things like the twenty fourteen world cup and then twenty sixteen olympics but even still despite list popularity you can see here what their g.d.p. looked like from twenty thirteen to twenty seventeen quite volatile movement into a steep recession in the midst of the political turmoil in twenty sixteen around the time when lula was removed from office and then his successor dilma room. based

her own corruption scandal now take a look at the country's national debt in relation to their g.d.p. starting in two thousand and eleven with projections all the way into about twenty twenty two brazil's debt hovered at over sixty percent to g.d.p. in two thousand and eleven and has seen a frightening steady rise now getting close to about ninety percent of g.d.p. here in twenty eighteen now lula's worker party fought really hard to build quickly build a previously not exist at middle class in brazil which they successfully did but they did so on the wings of debt that are now soaring in twenty sixteen brazil spent sixteen percent of their their budget on interest only payments for government debts or privately held by investors and business tycoons they spent more on sheer interest than they spent on education for the country which was twelve percent and health care which was on par with education there only their

interest only payments were actually only beaten out by social benefits like pensions that arrived at a whopping thirty five percent so to put it lightly we're just beginning to see the political unrest that's for them in extra complete tied to their economy so i think we're going to see a lot more fallout as as i think what i'm i'm hearing the buzz is that the government is going to reform possibly their constitution a lot of unrest and a lot of changes that we'll see in their economy the numbers that you cite and thank you for all the millimeter it's unsustainable that they could get close to ninety percent of their g.d.p. it's not very good but one of the things that you said there you know i had heard it before but i'm curious if it can really happen is that look could actually run for president again from prison can he do that if that is a wacky concept i know here in the states where you're automatically ruled out if you're being if you're indicted and and obviously for him he's been convicted in brazil this is also unprecedented now the judge is now. say that he

is barred from doing so but his lawyers are now trying to file hippias corpus and they're trying to they're trying to still extricate him from the situation and they still don't actually know if that is legal so we still don't know either so we have to wait and see and see how their their government pans this out and see if the language and there actually allows it or forbid that right now it's up in the air and they also have i know in brazil more of an inquisition judicial style rather than our former judiciary so that the people who actually investigate are also the people who judge i wouldn't feel so calm about that are to correspond at manila chan thank you so much for being there excellent reporting always a pleasure preceded. the masters golf tournament started on thursday and runs through sunday in atlanta

georgia the masters is one of the four major golf championships each year but professional golfers play on the various professional golf association tours in the u.s. europe and other places around the world and the sport is surrounded by big business and here to discuss that professor and sports economist victor matheson of the college of the holy cross to explain the high stakes for businesses related to golf victor thank you again for being with us business sponsors most of these weekly golf tournaments who are they and how much are they spending to do so. well there's a huge number of sponsors across the course of the year the masters which is going on this weekend it's actually extremely secretive and extremely exclusive about who would they allow to sponsor their bet there's actually only five total sponsors in the entire masters this this year clude spokes like rolex it includes i.b.m. and just a just a small handful of companies and then what about the other two the tournaments

throughout the rest of the year is that pretty much the usual suspects as they say from casa blanca the big companies porch and five hundred companies would that be the good guess sure so why any particular any particular term and can have any sponsor they want you might have sponsors in particular tournaments that have some sort of local connection so you could imagine for example if a tour event comes up to minnesota that maybe some of the big companies up there are a honeywell or a three m. might be sponsors of those while when tournaments move elsewhere around the country you get other local sponsors to fill in along with the big national sponsors that are there year after year and are they doing this primarily victor for advertising when television is there and they see that they see their name and logo in the background and then they also are connected i suppose with with charities because a lot of these tournaments raise money for various charities right. right so

obviously the big think about here is making money for the p.g.a. and for the players and the sponsors there is some charity that goes on that's probably an afterthought but what really goes on here is you have you have sponsors that want to be associated with golf golf is true traditionally thought of as a country club sport they're trying to find upper income upper scale. clients here and of course it's no no surprise that again rolex is one of the big five sponsors here at the masters which is considered maybe the most prestigious of all the golf tournaments in the world and how about victor how about the actual sponsoring by businesses of the golfers themselves you know how much do does a company spend to have somebody have a logo on their cap or on their bag or on on their their shirt i imagine is a big difference between somebody. like filmic and mickelson and

a lower level player right so definitely that's where the big money is for the players obviously you can the person who wins the masters here is going to walk away with a nice two million dollar check this year but that's actually not where the big money is if we look at a guy like tiger woods who spent almost the entire season in one nine hundred ninety seven excuse me two thousand and seventeen off the course he made only one hundred thousand dollars in prize winning last year but he still made thirty seven million dollars in sponsorships from a whole variety of different sponsors so that's where the real money is under woods over the course of his his career has made almost a billion and a half dollars in sponsorship holy cow what he's doing pretty well just a couple of strokes off the lead if he comes back yes and one in a long time but he's done well in the last couple weeks could that really help golf and therefore the business of golf victor. yeah for sure so there really is this

time period of golf that we call the tiger era it started in one nine hundred ninety seven twenty years ago when tiger burst onto the scene at the masters won the masters in a record fashion destroyed the field still set the lowest scoring record ever and the biggest winning margin ever and in the process generated huge television ratings forty four million people turned in to watch tiger win in one thousand nine hundred seven still to this day the biggest number of people ever to watch a golf tournament the united states without a tiger at the masters though it's not as exciting as a sport and last year only about eleven million people tuned in well we'll see what happens this weekend for those of us watching because we say it's also big business victor matheson from the college of the holy cross thanks always for your time victor appreciate it well thank you for having me. and before we go you may be interested to learn that a group of experts an artificial intelligence or

a i am robotics are warning against the creation of real life combinators sixty experts from thirty different countries wrote an open letter to the president of south korean university to oppose the creation of a research center to develop military applications for ai like robo soldiers the concerned researchers say they will boycott the university until its president vows not to develop autonomous weapons lacking meaningful human control in other words killer robots fortunately as philosopher sarah connor famously said the future is not set there's no fate but what we make for ourselves that's all for now thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust r.t. until next time hasta la vista baby.

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join me every thursday on the alex simon show and i'll be speaking to guest of the world of politics small business i'm show business i'll see you then. fracking gave americans a lot of new job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck so i chose to drive truck people rush to a small town in north dakota was an unemployment rate of zero percent is like the gold rush is very very similar to a gold rush but this beautiful story ended with pollution and devastation a lot of people have left here i don't know too many people here anymore slow down too much they lost their jobs got laid off the american dream is changing that's not what it used to be. and that's

a tough reality to deal with. as the double agent. on his doorstep begin to recover off the last month attack in salzburg his niece from russia is refused a visa to britain and. also this hour he speaks with the former director general of the international organization for the prohibition of chemical weapons about the screwball case and also how he was pushed from his seat because he was against the u.s. invasion of iraq i got a phone call from john bolton from washington who said that i had instructions to tell me that i should resign said your management style is not agreeable to washington. also this hour the u.s. blocks a u.n. security council move to investigate the deaths of protesters on the gaza border after at least nine palestinians were killed in a fresh round of violence including a journalist.