as well but what's pretty interesting is this dichotomy between how much of a means to scribing the new direction of the bureau which is really aspirational in terms of future hopes of change versus what's actually going on in the court docket well i mean it might be aspirational for him jenny but i mean if you know his testimony was a couple of weeks ago i thought set a pretty low bar he said i'm there almost every day boy if i could almost be here every day i think they'd fire be pretty quickly and then the other thing is he said as i haven't burned the place down that bar is below the ground it's so low so his aspiration seems to be talking about putting companies and we all need we need companies companies our economy but i think it seemed to me like he's prying to put companies back into consumer financial protection bureau i mean it was consumer not company financial protection bureau now as you know he's going to be a balancing act how does he do that how does he not just say we're going to scrap

the things that mr cordray put in place and go in sort of a different direction the key to how he can do that would be to have legislative change because the bureau really can cannot be understood without looking at its blueprint its mandate which is the dot frank at title ten and many of the changes that director mulvaney is proposing are pretty provocative but they can't be done or implemented alone they require an act if you don't change legislation you could at the the we like to say that the the legislation is a skeleton and the rules of the regulations of c.f.b. are my old agency are the flesh and bones are the that the flesh than you'd flesh these things out ok so companies and individuals shouldn't say hey the c. of p.b. is asleep at the switch we can get away with doing things that may not be appropriate they still need to be mine. about what's going on right absolutely the

best thing for companies that approach the c p b 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 bureau 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 in all american check 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 r.t. 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 shipping 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 get 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 for plants 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 cosco 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 new. supports does include

another terminal here in long beach as well as the port of los angeles and seattle and long waits sometimes just wait our team. time out 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 panel on tap to check out all the numbers that plus more afterward break we'll be right back.

join me every thursday on the alec simon show and i'll be speaking to guest in the world of politics sports business i'm show business i'll see you then. 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 student 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 proceed 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 arbor financial and conservative t.v. and radio host steve mauls bert 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 wine opinion on what's been going 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 i 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 in 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 work 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 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 down 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 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 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 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 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 steve muchin the treasury secretary is over there now with 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 our to enjoy your weekend we'll see you next week.

the global economy is so tightly wound that these sanctions don't work but the history because the supply chains are completely overlapping and what is sanctioned in one country drives economic problems of another country that you're not trying to sanction suffer get sanctions a spell longer workable and the global economy has to come to integrate too fragile it's too. interdependent. the new global economic war is unfolding in the realm of education the right to education is being supplanted by the right to. education. higher education is becoming just another product that can be born and sold but it's not just about education anymore it's also about running a business where you could. dream that they could to me. which is the place of students in this business model before college i was born

now and i'm extremely bored high education the new global economic wall. tonight but tracking and contradictions the un's chemical weapons watchdog now says it's unable to determine the amount of nerve agent you. poisoning you turning than . half a cup of talks it was used. to ten thousand paris this weekend to protest president bush crimes economic policies with tight security following this week's labor day riots. and government protests take place across russia days before but him uprooted his presidential inauguration the man behind the marches opposition leader alexina valley is arrested and authorized a rally in moscow. come august two hundred r.t.

explores how the iconic and pioneering german philosophers beliefs about the nature of capitalism continue to resonate with many in the modern day world. for their very good evening thanks for choosing out international live from nine pm here in moscow my name's kevin owen here with this update for you the international chemical weapons watchdog which is currently investigating the poisoning of sort of case script and his daughter in england is backing away know from claims made by its own boss the o.p.c. w. director general had suggested that up to half a cups worth of the nerve agent novacek was used in the attack on the former spy that saddam was large enough to kill tens of thousands of people more takes up the story usually what happens with ministries is the answers get

revealed crimes as solved perpetrators are identified in the script al case what's interesting is we seem to be going in reverse. for research activities or protection you would need for instance five to ten grams of but even in souls free 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 aka 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. 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 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 bars 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 porton down 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. party with tight security forty thousand people turned out this weekend in paris to protest the french president's economic reforms and what they're calling

a party for mccraw on the heavy police things a result of this week's may day rallies that turned violent earlier and although this event has generally passed over that instance we can't at least one police officer is reported to been injured or do been skiing was among the protesters. so the police have just moved into the basti area which is the end part of the protest that they have started making what seem to be some arrests so far that's often some of the protesters damaged of van you might be able to see in the distance smashing the screen and they also attempted to set it on fire there are around two thousand joined on the police out in clueless in paris today to try and keep the violence at this protest to a minimum after the violence that was witnessed on the may day protests on tuesday when almost she one hundred people or so who were arrested from the ground a crowd of around one thousand two hundred ultra militant leftists as they were

described by the police now you may be able to see behind me some of the people who cover their faces they generally people describe themselves as being anti capitalist anti fascist and they don't want to see and identified many of the people came here to protest against the policies of the math on government over the last year that's because on monday it is since he was elected for the moment it feels like it is quite a calm but tense standoff between the police and the protesters here as the police have moved in to try and protect this area where the protesters had been trying to damage some of this property but as you can probably hear they're describing the police in a chance as racist and these are people who tend to hate the police i mean normally we hear them saying all the world hates the police but you get. sense of that tension these protesters who finished making it to protest against that year in power of mr mack don't know what they are is against the system capitalism and

pretty much anything that go against the natural form of what they want and what they want they've said in the past is to bring up power to the street. rallies in russia to this weekend opposition activists been protesting ahead of libya putin's presidential inauguration on monday heeding the calls of the country's leading opposition figure election a volley they've been demonstrating on the slogan putin is not tsar to us novelli himself was arrested in moscow earlier along with nearly three hundred others for breaking protest laws he goes down off the details. some fifteen hundred people have gathered here in central most of them are supporters of alexina volley a prominent opposition figure in russia now at the beginning of the protests we do know that there have been some scuffles between the supporters and the opponents overlit seen a volley but so far larger view this event has been peaceful now right now the

police are trying to clear out of the city center they are kind of breaking up the crowd into smaller chunks of people and and trying to disperse them one of the reasons the reason as to why they're doing this is this location for the protest has not been approved by the most school authorities the. system himself that his supporters should gather here on post disco square while instagram suffered a different location on saturday ave now it's just a few thousand meters a few kilometers away from here it is also so in central most boys story districts somewhat of a traditional what has become a traditional sports for opposition rallies in moscow one of those actually took place there literally a few days ago organized by different people and it was in support of the internets . and russia in the wake of the russian government banning a very popular messaging service messenger telegram here it's one of only himself

did not shy away from appearing at that rally which did raise some questions as to why he chose time i know what rituals to denounce that locations are about avenues for his rally and so no problem appearing there at the do at the rally we're going to use by different people also this has been this the protests have not been contained to just more school it has been a russian wide thing some two thousand people we know have been protesting in st petersburg and in other russian cities as well we have heard reports of arrests in some of those cities too mostly in the cities where locations like here in moscow nor approved by the authorities as well and most all we saw some people being detained by the police to mostly those who are trying to block the streets. begin to push through this weekend saturday marks the two hundredth birthday of pioneering german philosopher kohl marks people across the.