coach. guys i know you on the us he's a huge star and the huge amount of pressure you have to the center of the football would you. agree. you are the rock at the back nobody gets past you we need you to get the ball going let's go. alone. and i'm really happy to join for the two thousand and three in the world cup in russia. the special one was also appreciated needs to redo the aussie team's latest edition to make it up as we go. look. we are now experiencing the end of

a thirty year bull market in bonds which means are entering a period of rising interest rates and so the urgency to get deals done before that any cost is applied toward financing whatsoever needs to happen quickly so i predict in the next twenty four months you're going to see the biggest wave of mergers and acquisitions ever in history by a factor of ten as just thirty or forty percent of everything that's traded out there gets gobbled up and taken from. the twenty eight team facebook c.e.o. mark zuckerberg public apology tour continues to refer to failing to protect privacy of users they've made a stop in europe now earlier today mr zuckerberg told leaders of the european parliament that facebook hasn't done enough. but it's also become clear over the

last couple of years that we haven't done enough to prevent these tools from being used for harm as well and that goes for feet news foreign interference in elections and developers misusing people's information. we didn't take a broad enough view of our responsibility now is a mistake and i'm sorry for it mr zuckerberg also said facebook is committed to europe noting their headquarters in ireland other key facilities across europe which dovetailed into a mention of facebook's plans to increase their european workforce up from seven thousand to ten thousand employees. u.s. video streaming service netflix has announced the details of a production partnership with none other than the former u.s. president and first lady barack and michelle obama the multi-year deal will reportedly pay the obama's one hundred forty three million dollars to create a wider array of content including scripted unscripted and documentary programs

netflix and the obama's seem eager to pivot away from politics with the shows instead promising programming that promotes empathy and understanding between peoples. amazon and apple also are said to have tried to woo the obama's but the former president reportedly has a good relationship with netflix c.e.o. reed things and chief content officer ted serranos mr hastings was three fifty nine on the forbes four hundred list of the wealthiest americans for last year and made forbes twenty eighteen world's most powerful list in march mr obama a former national charity advisor and ambassador to the united nations susan rice joined the netflix board last month. politico the us based digital media outlet is moving into asia after expanding into europe the company announced today it would be partnering with south china morning post the post is owned by billionaire jack ma who also founded the massive ali baba group as

a result of the partnership asian readers will now have greater access to politicos mix of washington's conventional wisdom and insider tips lord help them unlike their expansion into europe political will hire no additional staff or other asian partnership for now political and the south china post will share content political publisher says this is just the first step of a partnership that could yield greater investments. we're talking about the energy used for crypto currency mining before the but new research shows that the mining is using up more energy than even some countries while the findings are somewhat debatable there is little doubt that the amount of energy crypto currencies are using is troubling artie's alex heil of its joins us in toronto with more alex thanks as always what is this news on the latest research telling us. well this is around one condom use prognosis what's going on his name

is alex de vries he says that every six months that the use or the energy use of bitcoin is going up and that currently it's about consuming globally the amount of energy that ireland does as a country so that's a lot of energy here's a bit of a graph to give you an idea of which direction we're headed with this is a two thousand eight hundred bitcoin energy consumption for crack house and by degrees math computers that mine for bitcoin we have a good idea what that is basically going in labor intensive. code and doing all kinds of equations to get these bitcoins out of there is very very labor intensive but the same currently is using two point five gigawatts of power and on track to triple by the end of the year so this is like a lot of energy to be used every single second of every day and devise also says that this is gone up in the past six months by doubling just as we're talking about

doubling within in future months and this is due to the fact that where we saw bitcoin gold late last year it almost reached twenty thousand dollars u.s. at the value of one bitcoin and of course a lot of people became interested in getting into the market then and getting into the game of actually developing bitcoin now here's another reason that consumption has gone up because big coin as time progresses is harder to mine there's more equations it's more labor intensive and therefore it takes a lot more energy and time to get these bitcoins so energy consumption is up for sure the question is how long will this last and this question is how long will bitcoin last a lot of people don't have too much faith that the crypto currency will last at all well there are some crypto currency alex will exist that made it that it may be a bit klein i think bitcoin to be around for a long time but certainly some crypto currency i think is here to stay so what can be done about this energy usage problem in the future. well you know there's

a lot of specs to this energy usage and the fact of the matter is like you said i mean it is here to stay in one way or another the question is will it be less labor intensive will it be less energy consuming in the long run or is there a different way of doing it right now really it's not that big of an issue before you know a lot of this was being done in mongolia there's a massive chinese company out there so cool was being able we used to feel the electric grid for that now we're looking a big firms moving to places like canada and iceland where we have cleaner energy and also the way that it's done i mean we have to think about let's go back a couple of decades and people are talking about the internet saying the internet is going to be so energy consuming and there's not going to be a you know enough room or stivers space out there for all of us well there is and this might be the same story with bitcoin and other crypto currencies that we might be you know as saying the sky is falling when really it's not that that this energy is actually there that it's available and that this part of the sector these crypto

currencies actually you know really won't take up that much in the long run as we put more energy out there first of all and second of all as this whole industry progresses as you mentioned there's not one only one cryptocurrency out there there's a whole bunch of them they're all fighting to get their place in the market and who knows who is going to be the winner in the end and how that's actually going to look it's all about blog change technology we know that's labor intensive but blotching technology is goes far beyond crypto currencies and it's something that might be used in industries all the way from health care to the food industry just to when will we communicate just because this is current this technology itself it labels movements of coins right now let's say through cyberspace and will do the same thing for your health records or for tracking if for example just basically you know something from far all the way to the table it's really interesting the way that this technology is moving and any way you look at it this will be or. around for a while so cryptocurrency is or not we're going to be looking at launching

technology and that is labor intensive in itself and that's something that is can be very very helpful to us in the future so i'm pretty sure we're going to figure out how to put a little bit of space in our energy grids to keep it going you're probably right alex and you know it seems to me they could take all this heat that's generated from all these servers and maybe make that into something useful r.t. correspondent alex mann hyla bitch thank you as always thank you. after nearly sixty years of cuban leadership by either fidel aroud castro miguel diaz can now is elected as president by the cuban national assembly last month has canalis served as first vice president and has been seen for years as the anointed successor to raul castro and other news last friday cuba suffered their worst airline disaster in thirty years when a airplane with nearly forty years old crashed killing one hundred eleven

passengers hear dive deeper under these stories and catch us up on all things cuban is john president of the us cuba trade and economic council john thank you for joining us we always appreciate it first the cuban leadership transition what should we know about the new leader miguel diaz canal and what's his agenda and role as cuba moves forward. right now president cannot deal as canal is trying to get through the last thirty days and what he's seen it's been rather challenging agricultural and industrial production continued to decrease oil prices continue to increase venezuela's ability to support cuba continues to decrease u.s. visitor arrivals to continue to decrease last week the tragedy of the airline crash and then the continuing negative political rhetoric from the trumpet ministration so he's trying to deal with all of that and the main question he has to answer is

will cuba's traditional friends such as russia china countries on the african continent countries in the middle east will they be able to make up for the role that venezuela no longer has and the answer is probably no which means that president diaz konami is going to have a trajectory that's not going to be pleasant he may be a one term transitional leader to the next generation but he's going to have to make some tough choices they have a dual currency they have to solidify it's going to be very very rocky for him during the next twelve months you know i mean i think it's clear john that present majority venezuela can't help at all i mean they're struggling just to keep their country alive so i understand that part of it so who will fill the vacuum as i guess the the big question let's turn a little bit to that tragic plane crash the plane was reportedly operated by a mexican company under license by the cuban national airline and and mexican

authorities have said that they will participate in the investigation what's the latest on that crash and is this going to be any sort of impact from this on tourism. it will impact visitor arrivals basically because of the the atmospherics and the optics even though it wasn't a coup by an aircraft and it wasn't flown by cuban pilots the fact is that cuba chartered it and it crashed now there there may be an opportunity here for u.s. air carriers american delta united jet blue southwest to come in and perhaps operate intro cuba flights on behalf of qubani and i know that there's been some discussions about possibly doing that which would enable you know greater safety greater consistency of interest. airline traffic well we know

that american you know they've got a hub down in miami of course and they are sort of seen as the primary caribbean carrier down there but anything to ensure that things are safe would be a positive so this down tore down turn into our ism is it also due in part to you know the u.s. policy changes and and how much how much of that is is from the u.s. and how much is other market factors. u.s. visitor arrivals during the first months of two thousand and eighteen are down dramatically compared the same period and seventeen and that is almost entirely because of the change in regulations by the trumpet. and when they made those changes they made them in a way that most of ministrations do which is to create a lot of uncertainty and generally when a traveler looks at a potential destination and sees a lot of questions and not

a lot of answers they'll go somewhere else so the trump administration's regulatory changes have impacted in additionally there have been some issues with operations at resorts in cuba where tourists go because u.s. visitors aren't tourists but where visitors from other countries from canada from europe and into cuba struggling to maintain consistency if its products so they have they've got a lot of issues primarily it all comes back to a lack of foreign exchange and that's because of the commercial neck anomic policies pursued by the cuban government don't give off as much foreign exchange as they could and therefore they're suffering because of it john i know that you know we always go to it's always about tourism but there's also problems with agriculture etc and we hope you'll come back some time to talk a little bit more take a deeper dive into the cuban economy john cab which thank you for your time. thank

you bart. the u.s. postal service has had a tough time with the meet with meeting revenues for many years that even drew the attention of president donald trump several months ago around the end a year where he tweeted that why is the united states post office which is losing many billions of dollars a year while charging amazon and others so little to deliver their packages making amazon richer and the post office dumber and poorer should be charging much more the president certainly has reason to be concerned about the post offices spittal situation the post office has been in the red and losing billions of dollars each year for the past decade the president's concern is noteworthy however if you read the annual report to congress the post office mail delivery actually is one of the few money makers that's not the problem that said now the post office trying to

hand over another moneymaker that get this a scratch and sniff stamp or stamps many of us recall the scratch and sniff stickers that kids love back in the one nine hundred eighty s. and ninety's the stamps are called frozen treat to the post office and are images are works of ten different pairs of popsicles by california artist margaret berg the smell range from watermelon orange to chocolate in the root beer well the colorful scratch and sniff stamps get the postal service out of the red not likely but they will be fun. that said this time thanks for watching you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always hit us up at youtube dot com slash boom bust party will catch you next time. welcome to maximize their financial survival guide. looking forward to your pension

account. yanks this is what happens to pensions in britain don't let this you watch kaiser report. illo. oh ok. ily. ily.

ily. oh oh . i don't think about it i will not be here that. much as a student all. he loves little. is. a son and he has said i am being a bit dull you. suggest that you get outside of that mark on the. by then coffee

session on the nod there they are. by then is a shift the long. haul of a start mr mclean audience at a loss is going on want. some certainly not so with. the new and most of the reserve you know did it before multiple injuries among current enough to soak them to yourself you hold most of the work but shows your your mercy on the phone to the bone the whole if you can perfectly simple simple solution so you're going the book in a moral sense of the word month. hanumant of nothing on the left off allowed me to see you how are they somethin that was. done long enough something not set it. on top of us and led to huddles look modest that's what up to now maybe i made the comment these two are just so.

the headlines this hour on r t donald trump casts doubt on next month's planned meeting with north korea's kim jong un saying that the historic talks may be delayed or may not take place at all. we are working on something and you know this is a chance said it will work out there's a chance it's a very substantial chance it won't work out. of protest against the government reforms that turned violent in paris with demonstrators clashing with police there are a number of injuries. and the british government is sharply criticized for its response to the grunfeld fire almost a year on from the tragedy

a public inquiry is only now getting underway and looking into why seventy two people lost their lives in the london tower block. i don't think they're doing enough to pull out of government haven't done enough not nearly enough no that's not enough far as i can see. you can find the full stories over on our web site will be back with your world news update in about an hour's time with my colleague niki aaron but right now time for the reports of the. oh max kaiser and this is the kaiser it for ever opening lotus of perpetual knowledge hey you know what today is a very special day very special day special day stacy x. is pizza day remember i think it was back in two thousand and nine somebody bought some pizzas for some other gamers on line for ten thousand big coin which you know

this week would only be worth about eighty million dollars you know they should have lily allen day you know lily allen was going to be hired to perform and being paid two hundred thousand bitcoin when it was just pennies a big coin today though it would be worth almost two billion dollars so she's feeling the smite of bitcoin p. today in her own way well many people in the cryptocurrency sort of space do feel regret often because of the way the evolution of big queen has happened as we've mentioned before in the early days we used to think it was a means of exchange and we didn't think of the future store of value aspect to it so i've been very still living in that past that a living in his own private idaho roger very then c. and b. c. has i'm on you know they talk about the old bitcoin of the past that's why the guy spent ten thousand bitcoin on a pizza because it used to be a means of exchange now it's a store of value everybody holdalls hotels hotels or hostels hobbles hobbles

however you want to pronounce it but we're going to talk about the old school you know financial world every once in a while we go back there and look and see what the dinosaurs are doing this is a headline that you predicted and you've said it many many many times right here on the kaiser report over the past few years and that is the leveraged buyout of the stock exchange of the us equity markets this is what the slow motion l b o of this . mark it looks like l b o being leveraged buyouts and that started by you on wall street the whole of that trend for leveraged buyouts but this is the chart from j.p. morgan it just shows you that stock available for the public to buy there's less and less of it as companies buy more and more the shares back at those of them for a biography if i turned it upside down oh right of course well we have discussed this many times and i'm glad to see this finally getting some recognition out there

in the financial press this phenomenon of neal feudalism coming back into the economy due to rampant mergers and acquisitions fueled by free money so what this all means is that the number of stocks traded on the new york stock exchange and other exchanges is shrinking because these companies are being bought out they're being taken private and using that leveraged buyouts just to refresh people's memory a leveraged buyout is that you're using the collateral of a company you're set to acquire as the collateral for the money you need to borrow to buy that company and then after you buy the company you return the money you borrowed to the bank that was borrowed to you based on the fact that you had put up the collateral of the company that you're acquiring so just think about that for a second in other words like during the mike milken days of corporate raiders like carl icahn or ron perlman they would go to mike milken and say here's a company they've got billions of dollars worth of assets on the books i want to put their assets up as collateral to borrow that ten billion dollars i need to buy

them and then they would buy them and then they would split the company up into many pieces and fire lots of people and raid the pension account and destroy capitalism as we know it and make off with billions of dollars and we ended up with america's oligarchies of billionaire corporate raiders which we now call activist investors and the trend has resulted in terminal capitalism where the rat. have been given unlimited credit and no regulations and they are killing the golden goose soon there will be no stocks to buy at all no opportunity to excel at all and we're back to serfdom is the road to serfdom for real about that fake version that referenced fake communism but the real road to serfdom brought on by own frederick up a little actually when you were talking like that it made me realize that politicians have kind of tried to help as there's been

a leveraged buyout of the stock market and entire industries and you see that with the company formation there are no companies formed anymore in america compared to what it used to be like in the seventy's and eighty's as a decline in the number of new company formations but in that time what has happened is the amount of deposit you need to put down on a property is basically offering the same sort of deal if you're certain class of person who can get a mortgage for one hundred percent mortgage member and during the financial before the financial crisis they were offering like one hundred ten percent mortgages and some places where you didn't need to put up anything they would actually give you a deposit they would loan you the deposit and loan you the money to fix the place up and then flip it so that was kind of the same model in order to keep this whole scheme going it's called the ponzi scheme you know and it has various iterations throughout the financial sector and has been for hundreds of years and the only check and balance that's worked in the past to some degree has been the gold standard once the gold standard window was closed in one nine hundred seventy one

it ushered in an era of pure financialization and debt driven corporate rating which has resulted in the rise of extremely bad actors like jamie diamond for example who is running really a herd of carnivorous vultures who are undermining america as we know it and as a result you know you can see it in some of the data. that isn't rough you know people's health people as people you know you've got another chart there i know i can feel it but i'm going to get to that chart because i'm going to stay with jamie dimon j.p. morgan because this date on leveraged buyouts is about them so if we can get to that other chart i'll get to that i about up you know on set up the chart that's coming there's a dark coming that's going to blow your mind but when you first said when he said that fine and you blamed a bad actors on financialization i was thinking you were going to start talking about like sylvester stallone or people like that is that's where i thought you were going with that but i was a bit confused so here's j.p.

morgan study that actual they put a time frame on when american stock market will be totally private there will be no public stock exchange in seventy seven years they said an analysis by j.p. morgan found that at the current rate of stock buybacks all else equal i.e. assuming no new stock issuance the s. and p. well l.b.o. itself in about seventy seven years while in other words they are doing some basic analysis to figure out at what point these stocks are completely gone from the public domain but i think that the timetable needs to be accelerated to maybe five or ten years and i'll tell tell you what because we are now experiencing the end of a thirty year bull market in bonds which means you are entering a period of rising interest rates and so the urgency to get deals done before that any cost is applied toward financing whatsoever needs to happen quickly so i predict in the next twenty four months you're going to see the biggest wave of mergers and acquisitions ever in history by a factor of ten as just thirty or forty percent of everything that's traded out

there gets gobbled up and taken private so now we're going to turn to the start so you know that out for everybody in the audience it's just been like not even listen to what we've been saying the last two minutes because they're like what are these are called cards coming out dramatic tension and i have actually two charts to say that it's becoming even more fantastic well life expectancy in the united states versus peer nations from one nine hundred eighty the u.s. has been falling behind the peer nations this is from the new york times and. the pira nations are japan switzerland spain italy for a stronger france luxemburg norway sweden canada new zealand finland the netherlands iceland ireland austria portugal belgium britain denmark germany so as you see they've fallen behind every single one of their peers are doing worse despite what hillary clinton it said on the campaign trail which she thought that america was already great we don't need to be any better it looks like a different trajectory after a one nine hundred eighty this is the beginning of the whole leveraged buyout boom you were there from mike milken period that started i think part of that that cheap

money the way of financing and financialization could be responsible for this compared to all those competitor nations the other wealthy nations of the world why the u.s. has done so poorly as you see this is the line out is how expensive your health care is and the line vertical is how long you live so americans are spending a lot more than other competitor nations on health care and living last longer that doesn't look good that's financialization as well i think life expectancy is overrated you know america is a nation of goldfish you know goldfish will eat all the food you give them until they kill themselves if you go to san francisco and you see people living the american dream shooting up smack on the sidewalk going to see the needles everywhere dying in the street that's the american dream just the american goldfish fulfilling the promise of the leveraged buyout to take all future revenue and earnings for the next fifty to one hundred.