the best thing for companies that approach the c p p should know and understand is that you need to cut through the political white noise that's going in both directions and look at the actions of the agency what is it actually doing and it's important to have a cold sort of sober and clear eyed picture of the bureau enforcement supervision program which is alive and well ok and we did see it was sort of interesting we were talking earlier that we covered the. the wells fargo settlement but i don't know three or four days before that we were doing a headline about how mr mobility was sort of not moving forward on on the enforcement actions and then they had this big settlement with wells fargo which was in tandem with the office of the comptroller of the current currency so to your point there are still some actions going on out there jenny what do you think companies should be looking forward and what should we be looking forward as observers of this in the next i don't know month or so couple

a couple months perhaps yes i think that what we need to look at as we move ahead is the pattern that the mulvaney led biro has shown so far and even to your point before the wells matter there were several enforcement actions that were alive and well there was a ninth circuit appeal on a payday matter that the bureau filed under the mulvaney led staff there was a fifth circuit appeal and all american chack there was a district of montana action and payday that was an amended complaint and think finance so there is a lot of activity but it's not necessarily being highlighted by the bureau's press office at the moment well maybe they want to act like they're not on the side of consumers i don't i don't really i cannot figure it out this matrix yet but it sure different than anything i've seen recently i can't thank you enough for being with us it sure is nice of you jenny lee thank you so much a.q. sorry shape having me.

a u.s. national security review has raised concerns about a trainee state run conglomerate taking control of the massive container terminal in long beach california or to correspond and touch the sweet reports the port of los angeles and long beach can by the make up the largest ports of the western hemisphere after a u.s. national security revealed officials are questioning a deal that would give a chinese state run company control over one of the larger terminals here china's state run prosecutors takeover of its competitor oriented overseas international was announced back in july they were both six point three billion buyout would grant pasco what was formally orient overseas international's long term concession to operate part of long beach is port facility however the dude is being looked into by the committee on foreign investment in the us by way of national security grounds costco's vice chairman said it was likely to be

a done deal by june but this still comes at a contentious time regarding trade between the u.s. and china both leaders president trump and she's been paying are threatening to impose new tariffs on both sides of the pacific regardless this takeover of orient overseas with great cost to the third largest container on the board. isn't just expanding its current in the u.s. chinese shipping company is expanding in greece belgium and began constructing a terminal in abu dhabi in the bumper of twenty seventeen and in may of last year trying to acquire twenty four and a half percent equity interests of the rail hub of the kazakhstan chinese border cross go also obtained fifty one percent equity interest in a poor company in spain last year state alone gives china access to several terminals on the imperial peninsula and what hasn't been part of the discussion with u.s. officials is that cosco also has other investments in u.s. ports those include another term. no here in long beach as well as the port of los

angeles and seattle in long beach sometimes just wait our team. time out to squeeze in a quick break but hey you're here because when we return the april jobs report is out from the commerce department and we have a big panel on tap to check out all the numbers that plus more afterward break we'll be right back.

the global economy is so tightly wound that these sanctions don't work but they used to because the supply chains are completely overlapping and what is the sanction of the one country drives economic problems in another country that you're not trying to sanction suffragette sanctions a spell longer workable that the global economy has to come to integrate and too fragile it's too. interdependent.

the national rifle association's annual convention kicks off today in dallas texas the pro-gun advocacy group is no stranger to controversy but the temperature of the debate around the annual gathering is notably higher this year after another year of mass shootings in the united states that included the killing of fourteen students and three staff members that marjorie stoneman douglas high school in florida the stoneman douglas massacre jump started the movement for gun control when students survivors began organizing and the controversy spilled over into the business world and we have reported here a couple of times about some of these cycles of boycotts and backlashes that untangled brands including dick's sporting goods delta airlines and even wal-mart ahead of the n.r.a. gathering critics claim to park received on the part of the n.r.a. for actually banning the carrying of firearms firearms into the hall during speeches by president trump and vice president pence despite the familiar talking

point from gun and about a proverbial good guy with a gun being the best protection against gun violence. turning to south america argentina interest rates have been raised for the third time in a week to forty percent forty percent my gosh the rate increase on friday came on top of an increase on thursday to thirty point two five percent and last week the rate was twenty seven point two five percent the direct increases were an attempt by the government to halt a slide in the value of the argentine peso which has lost twenty five percent of its value in twenty eight teen five percent just in the last week but many observers say the rate increase may be necessary but it's far from sufficient to put a floor under the peso or bring inflation estimated at twenty five percent in two thousand and seventeen under control argentine president machree has been planning

an austerity budget. and his treasury minister said earlier today that the government would now aim for an even lower fiscal deficit relative to the gross domestic product. and the april jobs report is out today from the commerce department bureau of labor statistics the unemployment rate dropped to three point nine percent that's the lowest rate since december of two thousand and a tenth of a percent from the march rate of four percent there were one hundred sixty four thousand jobs created in april and there is no question we have a strong labor market but while the rate is really low the number of one hundred sixty four thousand isn't all that great although it certainly is up from one hundred thirty five thousand in march and here to help us dig deeper into the numbers as jeffrey smalls of president of barbara financial and conservative t.v. and radio host steve mauls burke thank you both for being here jeffrey what your top and opinion on these numbers well i think they're skewed i mean we had about

four hundred ten thousand people actually leave the workforce or retire or drop out altogether and stop looking for work and that's the real reason we're down from four point one down to three point nine even though there is six million jobs outstanding bart right there's still a lot of folks out there there's the the you six level the unemployment rate also hey steve let's get your top wine opinion on what's been going on on first. well i think you're if you look at it over three months you have an average of two hundred five thousand jobs i also think you have once again record low black unemployment you have tied for the record low of hispanic unemployment at four point at six point six percent four point four point six percent black at six point six percent even women went down to three point five percent so there's a lot of good in the numbers i think that workforce participation does need to pick up and i think that that is problematic we did lose over four hundred thousand

people as as my counterpart alluded to but i think overall you have to be satisfied with this as we as we move along and by the way by now we'll get to wages i think pretty much the wage growth kind of tempered down inflation fears and that seems to have done well for the markets today. absolutely i do want to get to wages in a minute but i do want to comment and you're right about this steve about the black unemployment and there's been a lot of discussion about that because president trump has been taking a lot of credit for that and i don't want to go back to far but that's been increasing but i did want to note something for all the boom busters out there there's a new study out i was just reading it before we went to air from the national urban league and one of the interesting things in it was said that of the forty six percent of blacks are whole moaners forty six percent while seventy two percent of whites are homeowners. so there's

a couple of other data points in that study which everything isn't just roses for black black americans jeffrey what about were wage growth and hours work what are we seeing in these numbers. well we're we're at thirty four and a half hours a week we've had wage growth of four or four cents month over month or two point six percent year over year so that's hardly enough wage growth to really facilitate inflation and really justify the fed increase rates the markets are really taking this there was a positive today and i think we're going to see the markets get really unsure of themselves when the fed starts talking about raising rates again next month and jeffrey what about the different sectors you know we know the tech sector has been growing construction has been growing i don't know if you've looked at that i have you know infrastructure came out down today and so some of those infrastructure stocks those construction stocks are taking

a pretty good heads but when we're in a rising rate environment and it appears that inflation is going to creep up very slowly as we've seen energy go up six and a half seven percent this year and i expect on employment to continue to decline i see is going on the three and a half percent which is really going to give the fed the fuel to keep raising interest rates and so if you're an investor in the market you want to focus on financials and banks at this stage. we're going to we're going to come back and look at three point five i hope you're right on that jeffrey and steve any sector is that usually we see them that add jobs and sometimes there are a few that don't do as well how about those that maybe lost jobs or stayed sort of the same well i do want to point out if i may manufacturing which i think is very key that gained in the twenty's about twenty five thousand and since october of two thousand and sixteen and we know what happened a month later not to get political but since that time we've had significant growth in manufacturing jobs up about two hundred forty thousand and this year it's it's

growing significantly as well also mining did pick up some jobs as well and that's something else that has picked up. since since two thousand and sixteen so those are two key sectors that i think of when it came to donald trump's promises he did promise to make a mark on and he has basically health care also picked up and of course the service industries picked up but nothing nothing too significant nothing nothing to write home about and nothing dropped that much it either. and steve you know we spoke a week ago about those fourteen states that saw in the last year the record low unemployment rates that in nearly ten years that trend it looks like continues when i was looking at the below last report so that that's good news but i do want to ask you both this same question and steve you sort of said if you look at the the first quarter it actually the first four months of the year that is it's pretty

good and i'd agree i don't want to. what's been going on but these numbers aren't you know two hundred three hundred thousand like we've become used to in the last year and i'm curious if both of you think that that is a bad trend jeffrey they can get down to three point five but what does this mean for the economy steve let's start with you what do you think it means for the economy for the rest of two thousand and eighteen well i think i think you get to see job growth accelerate as we move along with the rest of the year i think as the unemployment rate goes down even further which you know not many of us could have anticipated it would be four percent is considered full of full employment i think you're going to see pressure on wages and i think you will see wages increase as the as the unemployment number goes down you know a survey just completed a nine out of ten small business owner said they can't find enough people enough qualified people to take the jobs that they have to offer so i think you're going

to find employment numbers going up as the year progresses and i think wages will reflect upward as well. great point and jeffrey you know speaking of wages when we saw those go up i think it was the february numbers boy the markets took a big tumble as you may remember they rebounded but that was one of the beginning to that volatile time period we had starting in the beginning of march what do you see the rest of this year playing out jeffrey. well i think the market is really tentative right now in terms of the economy i mean we saw mortgage applications decline two and a half percent as they increase rates it's going to put more pressure on the earnings profits and the cost of debt is going to go up and so that's going to put a squeeze on the economy as we just saw annualized g.d.p. right now is around two point three percent as per the rest last report for this year that's not a screaming growing economy that combined with lots of people hundreds of thousands

of people leaving the workforce will give us the illusion that the unemployment rate is actually increasing because all we really did bart is increase one hundred sixty four thousand jobs as per this morning you know most economists were expecting one hundred ninety seven thousand on the report so this is the second month in a row that we've underperformed in terms of what they predicted and so you know i i hope that that number changes but right now for the three point nine percent goes we really are kind of being patted by people leaving the workforce more so than people actually being hired even though i believe that those six million jobs out there they'll find they'll find workers there's people that if they want to find work it's there ok can i give a while what are great the word i should thank you i'll go right ahead i was just going to say china let's see what happens with these negotiations absolutely low everything up one way or another. yeah steve minutes and the treasury secretary is over there now the delegation will have to keep an eye on that steve malzberg and jeffrey small thank you so much for your time appreciate it have

a great weekend thank you. and that's all for this time thanks for watching be sure to catch boom bust on you tube you tube dot com slash boom bust r.t. enjoy your weekend we'll see you next week. level for hard selling you on the idea that dropping bombs brings police to the chicken hawks forcing you to fight the battles they are going. to do stop spreading tell you that they'll be gossip the tabloids by fell for the most important day. off the bad guys and tell me you are not cool enough to buy their product. these are the hawks that we along with are the one.

that has one of the most controversial products of our time but it's a solid vegetable fact that's very cheap. twenty seventeen production grew to sixty three million times that a rapid growth in international demand for cheap oil has led to the massive expansion the plantations which is the destruction of the rainforest. given duties you know a lot more than ten million hiked as of unique rain forest has been destroyed it's a process that just keeps going. in the heart 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 all the site is

controlled by them and they impose the opening times where. it is from is all plus the procedures in place of the strictest in all europe masterpieces 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 up deals which are naturally discreet commercially discreet felt but also discreet because they concern fraud. 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. oh. look at that. the un's chemical watchdog now says it's unable to determine the amount of nerve agent used in this powerful poisoning cakes backtracking on earlier claims that nearly half a cup of a toxin was used by. the u.s. allows a man considered to be a kingpin of drug trafficking in afghanistan to walk free from prison it's reported harvey dream of current struck a deal with your force he's using his high level links then america's law

enforcement. and philosopher and author of the communist manifesto karl marx of the turns two hundred this saturday his hometown in germany celebrates his birthday remembering the man whose idea is the main as divisive now as they did more than a century ago. a very good morning to you from our team here in moscow you're watching r.t. international with me thank you aaron good to have you with us. the international chemical watchdog investigating the poisoning of surrogate script powell and his daughter has made a u. turn on its claims over the amount of a nerve agent used in solsbury attack the organization corrected an earlier statement that there was nearly half a cup of the toxin now saying it's unable to determine the exact quantity more gas

looks at a growing number of inconsistency in the pro usually what happens with ministries is the answers get revealed crimes are solved perpetrators are identified in the square pal case what's interesting is we seem to be going in reverse the research activities or protection you would need for instance five to ten grams or so but even in solo spree it looks like they may have used more than that without knowing the exact quantity i'm told it maybe fifty one hundred grams or so which goes beyond research activities for protection it also stretches the realms of reality here's some perspective one drop of a new rich rock nerve agent is enough to kill roughly ten people one hundred grams the equivalent of a small glass would be enough to wipe out at least

a neighborhood kill thousands and thousands and the serious chemist familiar with nerve agents will tell you as much is supposed to be very toxic highly toxic five to eight times more toxic than the x. which is already very very toxic what's interesting is how the head of the world's chemical weapons watchdog could possibly make such a mistake perhaps it was a mistake the u.p.c. w. didn't take long to shall we say clarify. the o.p.c. w. would not be able to estimate or determine the amount of the nerve agent the booze used in solsbury on the fourth of march twenty eight in the quantity should probably be characterized in milligrams fair enough they miscalculated a slight exaggeration of about who hundred thousand fold but ok remember when russia protested the accusation that only it could make no rich ox no one took them

seriously in fact the accusers were offended by the very idea. the russians crossed all boundaries when they serve the novacek agent could have come from the czech republic that is a lie fake news right so imagine the czech foreign minister's face when the president then comes out and says this. novacek was produced and tested in the czech republic it was a small quantity though we know when and we know where it was done it would be hypocritical to pretend that such a thing never happened pretty remarkable just to think britain was so sure it was all so we singularly exclusively russia is highly likely that russia was responsible the two poles russia culpable culpable culpable for the attempted murder you argue that their source of the chalk is russia how did you manage to find it out so quickly i look at the the evidence when the people from from porton

down they were absolutely categorical and i asked the guy myself i said are you sure and he said there's no doubt only russia it could only have come from russia said the guy over there to boris johnson hundred percent guaranteed go ahead sanction russia you can probably guess what happened next as a pattern here of not verified the for say source to be clear you're not able at portadown to say where it is from we haven't yet been able to do that so much backtracking it might as well be back running yet the media hits the breaking news peddle over any scandalous statement no matter how unsubstantiated and every time those statements turn out to be untrue no one cares staying tuned only for the next sensational revelation. award winning journalist and

filmmaker john pilger is the guest on today's edition of going on the ground he says it's crucial for the media to question the official narrative. i've never known the time when so-called as you describe it mainstream usually. a satirical. mainstream journalism has been so integrated. into propaganda. and that that propaganda campaign at the moment pointed rights against russia suggests to me that it's the beginning of a kind of no the macho in russia i've been a judge was for a long time. i've covered many wars of cup of the first cold war i've covered it from the soviet union of covered it from the united states i would say there was a pseudo journalism now to simply write down and swallow what governments tend to

do is the very antithesis of what real journalism is. one drug loads the rest was called a devastating blow to the taliban and drug trafficking in afghanistan but now the very same man has quietly walked free from a u.s. prison auntie's kind of movement has been looking into the possible reasons behind his release here at this correctional facility in manhattan you've got some very dangerous criminals you've got the mexican drug kingpin el chapo guzman furthermore you've got the terrorist suspected of driving his truck into pedestrians here in manhattan back in two thousand and seventeen but one rather famous inmate the afghan drug lord haji juma khan recently checked out and no one knows why khan was first arrested back in two thousand and one as the usa began its operations in afghanistan however he was almost immediately released and from there he went on to

set up a criminal empire known as the khan organization he was watched very closely by the u.s. drug enforcement agency this is what they said about him back into. sixteen can organization arrange to sell more than base nope i'm durable to that can be processed into heroin in quantities is launches for two tons enough to supply the entire united states heroin market for more than two years now it's also important to note that in afghanistan he became friends with the d.e.a.'s top man in kabul he described their friendship is crucial in getting information he was a major player in the global herin trade and our aim was to counsel the supply of money from open kingpins like him to the taliban and terrorists such as o'connor he was an unofficial spiny and he gave us useful information that we passed on to the military at one point in two thousand and six the da chief in kabul got so close to his drug lord buddy that he was worried he may have cancer he arranged

a trip for him to the united states in order to get treatment one day i notice that he had a growth on his chest i thought it might be cancerous as i previously had a melanoma cuts out and showed him my scones i offered him treatments in d.c. and we went well that was a false alarm i was helping a friend but also his way of building trust the friendship soured in two thousand and eight when he was learned to indonesia arrested by interpol and then extradited to new york city once he was locked up pending trial for the d.a. then publicly linked him to terrorists proceeds from hundreds of mcconnell global drug trafficking organization funded the terrorist activities of the taliban his arrest is a significant line of credit to the taliban that will shake the funding of his drug network that has moved message quantities of harim to worldwide drug markets ever since that time everything related to khan's case has been completely sealed in two thousand and ten the new york times wrote about his long standing friendship with

both the da and the cia prior to capture at the time neither agency would confirm or deny it unlike his lawyer several law enforcement agencies from the united. approaching people in afghanistan including mr khan and requesting assistance and assigned distended payments made services requests from my client and others but now com is free no criminal charges no trial and no explanation why now at this point perhaps we can assume that the law enforcement agencies know what's best for the public and just don't feel a need to share their secret collaboration with the worst of the underworld kept secret so you can sleep better at night. r.t. new york. city has requested comments from the us federal bureau of prisons concerning khan's release and will update you when we hear a response. now once a green area close to the french capital is.