in long beach california arctic correspondent touch this week 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 news takeover of its competitor oriented overseas international was announced back in july were both six point three billion buyout with grant pascoe what was formally oriented overseas international's long term concession to operate part of long beach is 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 you 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. the chinese shipping company is expanding in greece belgium and began constructing a terminal in abu dhabi 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 cosco also obtained fifty one percent equity interest in a poor company in spain last year at stake 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 terminal here in long beach as well as the port of los angeles and seattle in long beach just weeks our team. time not to squeeze in a quick break but hang here because when we return the april jobs report is out from the commerce department. and we have

a big fan 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 to what is sanctioned one country drives economic problems of another country that you're not promising so forget sanctions or spell longer workable than the global economy has to come to integrate and to fragile its two. interdependent. about your sudden passing i've only just learnt you worry yourself in taking your last bang turn. your attitude up to you as we all knew it would i tell you i'm sorry but only i could so i write these last words in hopes to put to rest these

things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feelings started to change you talked about war like it was again still some are fond of you those that didn't like to question our ark and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind gets consumed with death this one difference i speak to now because there are no other takers. to claim that mainstream media has met its maker. political yousuf you want to get a mass i do so blue if you for truth are so fond of the garbage that my. mother and i look to the south texas to the next and then a lot of those women. those

are just leaves the book is like. taking. any of those mothers. and he's going to sit on them and. have a difficult time. and these years are made up and then i don't. know how shame will. kill a gun it will be an admission i'm going. to

the. 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 dramatic 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's 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 the 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 use six level the unemployment rate also hey steve let's get your top line 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 adult 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 you know 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 that a minute but i do want to comment and you're right about 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 homeowners 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 think we'll 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 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 a starting in the beginning of march what how 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 in 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 did 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 the admonition 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.

it was one of the most controversial products about sign fit to solve a vegetable found that's very cheap. twenty seventeen production grew to sixty three million tons that rapid growth in international demand for cheap oil has led to the massive expansion the plantations which is the destruction of the rain forest. get into these you know a lot more than ten million as of unique rain forest has been destroyed and 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 and 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 must to pieces by artists like pecan so i'm modigliani i can't boards and sold inside this warehouse that's where the report comes in if 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.

tracking contradictions the un's chemical weapons watchdog say it's only to determine the amount of nerve agent used in the script poisoning. earlier claims that nearly half a cup of a toxin was use. people around the world celebrate the two hundredth birthday of the pioneering german philosopher karl marx criticisms of capitalism continue to polarize this much they say is that. the us releases enough down drug trafficking kingpin from prison and say why it's claimed he struck a deal thanks to his high level links with american law enforcement.

nine pm in kuala lumpur four in the afternoon here in moscow this sunday may fifth welcome to r.t. international i mean o'neill our top story this hour the international chemical weapons watchdog currently investigating the poisoning of surrogate and his daughter in england is backing away from claims made by its own boss the o.p.c. w. director general suggested that up to a high of a cups worth all of the nerve agent novacek was used in the attack on the former spy that's a dose large enough to killed tens of thousands of people picking up the story because the. usually what happens with ministries is the answers get

revealed crimes are solved perpetrators are identified in the script 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 of but even in souls three it looks like they may have used more than that without knowing the exact quantity i'm told and 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 for chalk 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 any serious chemist familiar with nerve agents will tell you as much know each other is supposed to be very toxic highly

toxic five to eight times more toxic than the x. which is already a 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 blues used in souls bring 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 two hundred thousand fold but ok remember when russia protested the accusation that only eat could make new each ox no one took them seriously in fact the accusers were offended by the very idea. the russians crossed all boundaries when they said 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 the 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 be to the poles russia culpable culpable culpable for the attempted murder you argue that their source of is russia how did you manage to find it out so quickly i look at the the evidence from 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 barra's johnson one hundred percent guaranteed go ahead sanction russia you can probably guess what happened next as a pattern here of not verified the press a 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. as the end of the ward winning journalist and filmmaker jump is on today's going underground he talks to the about how in the current political climate news cycle

it's take a totally uncritical approach to claims leveled out russia here some of what's ahead i've never been on the time when so cold as you describe it mainstream you surely are a satirical to the. mainstream journalism has been so integrated into a propaganda. and that that propaganda campaign at the moment pointed right against russia suggests to me that it's the beginning of a kind of not the march on russia i've been a journalist for a long time i've covered many wars of cup of the first cold war i've covered it from the soviet union i've covered it from the united states i would say there was a pseudo journalism that i'll simply write down and swallow what government tells you is the very end. of what real journalism is.

it's the two hundredth birthday of german philosopher karl marx people across the world have been celebrating and debating the legacy of his seminal works which portrayed capitalism as an exploitative almost sustainable system our europe correspondent peter all over explores marx's last thing on polarizing influence. germany is commemorating one of its most famous and controversial think it is such a day as the two hundredth anniversary of the birth of the author of the communist manifesto karl marx to say that his ideas of class struggle and the overthrow of the ruling classes by the workers were hundred maint divisive here well that is beyond understatement marx's ideas were truly at the root of the ideological division between east and west germany post world war two but that's not stopping

his place of birth tree in the south west from hosting a series of events to mark his big birthday bash. it surprised many when it was announced that the guest of honor at the big party in tria would be showing claude younker the e.u. commission president hardly has proletariats credentials in fact the former prime minister of luxembourg has been accused in the past of exuding the worst excesses of the bush was he so perhaps mr young has been a closeted common rate of marx all these years marxist con marx is not responsible

for all the atrocities carried out by his followers his writings does capitol and the communist manifesto change the world as we know it see marx's name and image has appeared all over the place from a major street here in the german capital to these t. shirts you can even save your capitalist pennies inside the heads of one of communisms founding think is a marxist also appeared in more than. share of t.v. shows and advertisements as well. oh come now have dad. my son the so called.

the ideas put forward by moxie here alongside frederick angles haven't been consigned to the nineteenth hole for that matter the twentieth centuries a recent poll of people from twenty eight different nations showed that hall for them said to get a better society we should follow socialist ideals however it is worth noting that in the same poll around the same number said that political systems based on the writings of these two were far more likely to be oppressive i asked the people of what they thought those mosques have a place in today society and politics so when it comes to politics.