detailed plans for terrorists on thirty four billion dollars worth of eight hundred eighteen different products to take effect on july six and sixteen billion dollars worth two hundred eighty four other products that will take effect after a period of public consultation the trumpet ministration pulled the trigger after over a year of complaints and threats dashing the hopes of some observers me included who had hoped both sides might resolve or pause the dispute before tariffs were imposed and chinese and u.s. officials have signaled that they are prepared to continue the international face off that could take a long time to play out as phil conners might predict it's going to be called it's going to be gray it's going to last the rest of your life let's hope not well much more on this early next week with archie trade expert alex mann hyla vich and china expert caleb mop and others. and there is big breaking news on the financial crime beat as citi group agreed to pay one hundred million dollars to

forty two u.s. states attorneys general regarding the london interbank offered rate or liable for the forty two states attorneys general who charges against city allege the finance giant had made submissions of inaccurate information to the live or process affectively manipulating or shifting the rate and concealing their true borrowing cost libraries an average of the interest rate that select banks expect to pay when borrowing from other banks overnight library is calculated in five currencies and use worldwide as a reference point in setting many other interest rates shifts of live or can therefore have enormous impact on everything that you borrow the scandal involving manipulation of live war began in april two thousand and eight and finds are related to the case now total over nine billion dollars. while the economic indicators for the u.s. economy are currently strong not all agree on the long term forecast christine legarde the international monetary fund. managing directors says while the clouds

are getting darker every day over the entire global economy related to trade tensions the i.m.f. forecast the u.s. economic growth will not only slow this year as the impact of tax cuts fade but will be at a mere one point four percent pace by twenty twenty three that level is of course much lower than the trumpet ministration is forecast and with sustained economic growth of three percent within five years here to help us assess the economy in light of the u.s. federal reserve's raising interest rate decision this week as jeffrey small the president and founder of arbor financial jeffrey thank you for being with us at the end of the week we sure appreciate it a lot of folks expected the interest rate increase but there was more news from the fed that they forecasted they're going to do several more interest rate hikes during the rest of the year what's your take well they've increased the fed funds rate seven times since two thousand and fifteen and the economy is on fire right now i mean the government spending one hundred billion dollars a month more than it collects and there's hundreds of billions of dollars pouring

back in the united states because of the trumping economy part yeah they have they have done a good job there's no there's no denying that the economy is pretty much on fire in a good way and balancing that at the fed has been they've done a good job overall with both chair yellen and now with j.p. paul with regard to interest rates jeffrey the consumer price index came out this week showing that it had the increase the fastest in in six years the fastest pace in six years and overall u.s. retail sales were the best in the past six months how are consumers going to react to interest rate hikes and things like housing where we saw a new construction increases back in april and on other major purchases like automobiles or trucks. well sure what we're going to see bart in the future here in the short term future we're going to see things like mortgages and credit cards and car loans actually start to have to charge more because interest rates are going up and so the current threshold really for construction of new homes really is around

six percent we see mortgage rates had six percent we kind of hit the wall today we're around four and a half percent on a thirty year mortgage and so right now which is kind of a pen prick to the average consumer's pocket as we saw yesterday consumerism is running rampant people are spending more than they have in years if you were advising maybe your customers or even your neighbors japery they were thinking about buying a house within the next year would you say by now i absolutely would say by now if they're going to be in the house for five years or longer if they're if they're not going to be in the house for five years or longer than they really need to wait until the rate cycle peaks and see if actually the market starts to correct a little bit here over the next twelve to eighteen months very interesting and how do you think that this you heard my headline may be about all the trade in tariff or war talk going on do you think there's going to be an ultimate impact on the economy i guess it's a little bit too early to tell right now but what are your what are your thoughts we're really not seeing the effect of the trade war in the in the general economy

yet it's going to be really a pen prick in the short term but we see the stock market starting to react and today the dow was down on the on the major market indexes more than any other ones and so i suspect that will occur but we're we're united states people will get hurt as the farmers because we export so much farming products to china that's really where the tariffs are going to be here for the in the short term until we see what happens in the long term and what do you think are some of the other economic indicators that we should be looking at piece of the economy now and what you'll be looking at in the next few months that might be indicative of growth throughout the year. well i think the stock market really has it has a really good idea what's going are good pulse on what will happen with the economy going forward if the market tends to drop that will dampen consumerism if the market keeps expanding that will increase consumerism and will keep increasing debt even though we seem to be having debt peaks at this point in time borrowed i mean yesterday we had a global debt figure of an all time record of two hundred and thirty seven trillion

globally and a large amount of that is domestic debt as well and so we're coming to the end of the debt cycle so consumers want to be aware of potential debt bomb at some point in their future jeffrey we really appreciate you being here at the end of the week thank you so much you're always informative for our viewers jeffrey small president and founder of arbor financial thank you for being with us thank you for. archie's the military has looked at the business and future of garbage which is not only fascinating but some of it is quite disconcerting manila philis in all the blue busters on what you found it's pretty amazing hey there are it so i'm literally here to talk trash i know it's almost a path a proposition to to use that slogan to reduce recycle reuse as we all know from the eighty's but. it's it's the fact that the newly found middle class across

brics nations as well as the middle class here in america we are now producing three times more trash than we did just a decade ago globally so you can see in this graph according to the e.p.a. the little triangles indicate that since the one nine hundred sixty s. americans have steadily increased how much trash each household throws out and the type of trash we're putting out looks something like this it's a lot of paper products which could really be recycled but guess what it's not it's getting thrown out a lot of food waste could also be composted but again it's simply not and tons and tons of plastic the data is similar with other westernized countries like those in europe and australia globally we're putting out tens of millions of tons of trash every single day so according to the world bank by the year two thousand and twenty five it's going to cost nearly three hundred seventy five billion dollars annually to deal with that amount of trash so what's in store for us in the future for

example right now in europe some municipalities are turning to desperate measures saying they'll just ban plastic cutlery from restaurants and stores etc no more straws so your takeaway meals will have to be consumed somehow that might be a boon for the wooden cutlery business maybe japan they create about one third less trash than the average american while living in similar g.d.p. levels per person but because they're taught territory is significantly smaller than the u.s. japanese municipalities use trash shaming as a means of prevention so your trash is only accepted for collection and clear bags so your neighbors can see if you're not doing your part in recycling or composting and things of that nature and here in north america google's parent company out of that is looking into a high tech way to deal with the mounting rubbish sidewalk labs that south of that smart city are there working on ways to monitor your. trash output smart trash cans might be a thing of the future at present most municipalities in the western world charge

you and your neighbor the same trash collection fee for that universal sized bin that they provide every house however you might produce far less trash than your neighbor but guess what you're paying the same price for that collection in the future technology from folks that alphabet might help municipalities charge people by the pound of trash they produce and even for what kind of trash you're putting in the bin so part smart trash bins that can perhaps scan what you drop in the privacy advocates find this a bit troubling but you know that's an argument for a different day they're calling this surveillance capitalism by way of rubbish but hey this may very well be the future of trash surveillance capitalism that i got you know i was throwing a limited apartment and i was throwing with my grandson trash down the chute from the floor that is where does it go and so it goes into the center of the earth when it comes up as lava in hawaii now if that were the case that might be

a good remedy that's not the case and i think too often you know we're stuck with ya figuring out is more lest you talk about recycling and if you recycled maybe that gives people a sense that you know it's ok that i'm have so much waste because i recycle that's not necessarily case that is actually a myth slogan be damned even though recycling efforts by us individuals have really shot up over the past few decades it's even become hip it's a thing that you that everyone does now some top scientists are saying that this might even be the reason a lot of americans are producing more garbage because they're justifying their justifying the trash output because they're recycling now meanwhile packaging is getting more and more elaborate materials are getting cheaper so surprisingly recycling in many instances have been been not been able to really set the amount of trash we're putting out fantastic report thank you so much with oil. and time

now for a quick break but hang here because when we return conservative commentator steve walz burgard y.o.y.o. media will give us their take on the new media landscape in light of the a t. and t. time warner deal being approved and comcast putting in a bid for twenty first century fox plus the founder and c.e.o. of trial market reports which helps us take a look at the business of golf as the u.s. open golf championship is underway and we go to break here with numbers at the closing bell already arrows on the big board everything is down when you start notably ended their fourth straight day with turbulence taking a hit today on on the trading tariff you will be right back. financial planning guide i don't buy any i caught up with futures. almost friday that's the last time my ex from the future so trust our watch guys.

kinda. kind. of those who don't use them don't leave them in the can do and don't just say they're on the stand on the assume that equal distances muslims are only going to still smoke are going to. close will go. down and we'll move up to those as listeners assume times out of the asteroid belt district.

i can imagine i don't know i wasn't there but i can imagine russia defending its national interests in a way that doesn't help the hawks in the united states but couldn't has this image of such a hard guy. and i would own blaming him for not caring about american public opinion anymore because it seems like no matter what he does this an unfair response nonetheless what i'm saying is it's got very personal. welcome back bad news from workers approaching retirement age and russia's president vladimir putin is officially propose raising the age of pension eligibility under the draft bill discussed in

a cabinet meeting the age for men will rise from sixty to sixty five well women's will increase from fifty five to sixty three mr putin reportedly moved the proposal on the advice of a former finance minister who is said to have asked two years ago for an economic program to implement in his new term as president some experts agree that the move might be a unavoidable citing russia's aging population and workforce one estimate is that the change could save twenty seven billion dollars annually. and there is more safety news this week in the ride hailing business as d.d. the chinese app will reboot its late night offering to prevent male drivers from picking up female passengers the changes being made after the media sensation earlier this year related to the murder of a female d.d. passenger these initial response was to limit hours of operation from six am to ten pm today the company now added service from five to. six am and ten pm to midnight

but during those restored hours passengers will only be allowed to connect with drivers of the same gender only ten percent of davey's drivers are female leaving chinese women hoping to get home with d.d. with very little chance of getting a ride some critics say the change will now make women less safe when they are unable to get home late at night but the company will be protected from liability perhaps. and in u.s. regulatory news the top nations lawmaker regarding regulation of financial services the comptroller of the currency has affirmed that they believe housing and lending discrimination is real members of congress pressed the comptroller of the currency to clarify his views after he told two house members on wednesday that he had never quote personally observed lending discrimination though conceding quote many of my friends in the inner city across america would tell me that it exists on thursday the comptroller told a senate committee that disparate impact does exist the firming

a regulatory term disparate impact that the obama administration coined to strengthen and forstmann of the nation's core lending discrimination law the community reinvestment act or c r a the o.c.c. is responsible for enforcing c.r.a. . and as we reported yesterday in light of a t. and t. time warner is decision this week by a federal judge who ruled that the mega merger could go forward comcast has offered a sixty five billion dollars deal all cash for twenty first century fox the big set up a fight with the walt disney company which also seeks to acquire fox here to take it all on its conservative t.v. radio host steve malzberg and lionel lionel media thanks to both of you for being with us at the end of this week steve the media landscape is changing in a way we have never seen what does it mean for businesses and for consumers. you know i think the decision in the time warner eighty and t.k.

said the judge just summarily dismissed every single argument that the department of justice had and i think it speaks volumes we're in such an ever changing constantly changing media landscape that this that that particular merger and others that are might follow are really a battle for those companies to grow and survive not to monopolize i mean you could who really sits in front of the t.v. that much anymore you tube has a billion viewing hours a month you have facebook and google dominate two thirds of the online advertising you have programs that i never even heard of that people constantly say to me or just see this and you see that it's either on netflix or one of the other services so the idea that there could be a monopoly and people have to have to watch c.n.n. and h.b.o. and they're going to raise the prices on these poor people is ridiculous we don't even know where all this is going but the future is unlimited and it's constantly changing. line of what's your take on all of this. we're looking at something that

cannot possibly be. explained or emphasized enough we're going from the buggy whip to particle physics and were it not for this particular deal had judge leon said no had he said we are not going to and anyway and by the way i never wrote dark times though i have lived it but here's the thing you would have never been able to go from one extreme to the other without this merger we're seeing something right now it's all going to be streaming it's going to be streaming everything right now sticks and tennis all of that is going to go by the wayside and what a.t.t. represents are millions and millions of consumers that for example netflix and others go directly to cable what's that cue the crickets. this is beyond explication and i'm not even in any way exaggerating on this well

that may be why steve you know disney is also going after fox and does the c.e.o. robert iger as a socially we don't wage his future in winning that media war and and there might be somewhat of a corporate grudges as you know dating back to two thousand and four when comcast actually tried to acquire disney what do you make of that one steve. well you know they came to kind of a tentative agreement from the reports of disney and fox and then comcast came in and contest you know has lost in previous attempts in the past one of them you alluded to so they really need a win here and i don't think they're going to stop but on the other hand as you correctly point out disney needs this content they need the movie studio for their future plans so it's going to be a battle royale going forward without without a doubt but you know it's going to be interesting to see what the department of justice does if one of when when one of these companies griese with comcast because

this is not a strictly vertical merger as a t.n.t. time warner this is more horizontal they both are competitors and they're both going to form again you know a bigger company again i hope it goes through whatever it is but i think the justice department definitely they might still appeal the eighteenth tee time warner but i think they'll definitely fight the comcast disney or the fox disney merger you know we had an attorney andre barlow who is a regular on the program and he was in the courtroom every single day on this and he's just said what you did steve that you know this is going to have to be real litigator that it was really sort of a silo decision with regard to time warner in a t. and t. lionel how does the u.k. sky news figure in all of this that people want that one to. well i think this is a harbinger part of of what's happening around the world though their regulatory scheme is a little bit more interesting they're more content content sensitive you almost have to plead your case your your your viability and the propriety of your of your

corporation that's by the way many people believe that fox news has believe it or not damped down some of its more outrageous aspects in order to comport with this but be not mistaken and i can say this enough if you don't allow these mergers steve's absolutely correct this is horizontal it has to be because you have different components cable is not going to exist anymore that's going by the wayside phone companies going to be delivery systems content content is king think about this netflix is bigger than disney netflix and they laughed at that netflix hulu amazon google they've changed the complete battleground of this everything that's all that is ancient we haven't even seen what's going to happen in the immediate future part this is cataclysmic can you sense that it i could i could sense the urgency line oh hey i need a ten second answer from both of you news breaking this afternoon oprah winfrey

signing a deal with apple to compete against netflix and amazon ten second steve go i guess you're not running for president lionel what do you. goes to show you the future apple and not a regular media corporation though that is media conservative commentator steve walls bergen line of wine old media thank you both for your time and a great weekend thank you. there we go to talk the business of golf as the u.s. golf associations open championships started yesterday golfing sector stocks including elway has been doing gangbusters not only this year but last year as has the last five years in fact as has the a question a company the owner of title is golf but the business of golf is more than just about those companies and here to help us get in the details of the founder and

c.e.o. of strong mark hillary ward which hillary first of all let's set the stage i mean thank you for being here as always yes that you're welcome ok so set the stage how did golf get so big ok so golf obviously started in scotland most people know though they say that it was probably because of the dutch the dutch would go there with the dutch had this sounds of ice hockey game and they call it kalf and that was many many years ago and it had a big surgeons in the us is what they call the big five and of course that was gary player of jack nicklaus on the you know obviously he was playing all that time with all of palma and with lee trevino told once that it was huge that was because of the advent of television it became this mass sport that even though not everybody could afford to play it they all watched what out there affected television have when tiger woods came onto the stage it was two thousand and three and that's when golf industry had its big boom now they talk about all these young guns there's a lot more interest one tiger is back although not at the moment in the u.s. open he's not even probably going to make the cot but it's the young guns as a lot of interest in jordan speed than index players those others jordan eberle and

rory yes i think a lot of them they actually they grew up watching tiger they were inspired. actually go up an island of course with a lot of rain and lousy weather and he actually reportedly. chip go falls into the washing machine when his mother well was it wasn't washing things and she got very annoyed with all the clanking but this really rock and roll remark arroyo jordan speech and then ernie els as well and phil mickelson had already already been there for a longer ricky fowler where he was would be a browns as well yes and when i think of ricky i think of. the promotion here i mean i think rocket mortgage and i think farmers and insurance co's are how do these folks yes so how do these folks make money other than just winning golf tournaments ok so when you go to once it's probably only about something like twenty eight thirty percent of their income they also make a lot of money not just on the winning but from licensing from the sponsorships that they have also from golf course design so there's lots of other aspects and

just advice in the industry as well so what do you see as the future i mean should should we be people be investing in some of these golf starts is it going to be out there still is this a good place to put money well that's been a debate recently they say with a grain of america the aging of our there are more people who are tiring and technology has had a big impact on the game callaway has a lot of new products that are more dependable they hit it straight or they hit father and of course things like all of the bush net all of the gulf equipment and technology around tracking the ball and sing with a g.p.s. in rio you know absolutely yes before we go and i'm glad we finish with this is stead of tar start with that you mentioned tiger and yes you know he triple bogey the first hole every time and you know what it is major championships everybody talks about is going to make it what's he going to do for golf but golf doing very well without him i mean i know that viewership increases right yet but i'm still doing ok you're totally right bought it increases by about fifty three percent and if he's there in the final day the rating saw over fifty percent but i think it's

these young guns we just mentioned and some of them but you mentioned ricky fowler he's very good with social media they all are they're all tweeting now they're on instagram so they've got this young generation young generation interested in them as people and that's a lot different and i think that's what's. rating a lot of the interest and then you say you have this combination of the graying of america the young guns which is given some energy to the industry who are forward which the c.e.o. and founder of straw mark thank you we really appreciate it work about take care. and that wraps it up for this time the end of our eighteen hole for the we couldn't catch boom bust on direct t.v. channel three twenty one dish network channel to eighty or so dreamy twenty four seven on pluto t.v. the free t.v. app show one thirty two or have always hit us up at you tube dot com slash boom bust r.t. we'll catch you next week.

and. my uncle the kid's name complete stable boy tonight i think. people are going to come because. it's not. going to. move on which i did a good show about the movies because of i'm listening to michael going to be a good show most of them when that's. not so much because i was it is a constant you know a million. dollar stunt is getting international recognition with the help of israel at least in the

world of zoos and minerals it was dismissive to me like you know this this is my complicity is going to sunday homey. no position the only palestinians who gets the most help from his jerusalem counterparts i don't think this is about those who endure under the oak vision to not only go through this. and not fizzle off out that is just this lady of the muscle that you have i don't think it'll kenya doesn't seem to do more camillus also don't get results. with a whole make this manufactured consensus instant of public wealth. when the ruling classes protect themselves. with the final larry go around to be the one percent. going the

whole middle of the room six. million more you really. want a loved one is murder it's natural to seek the death penalty for the murder of her and it be known to the death penalty just because they think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people is terrifying there's just no way that hasn't been that we were even many of the times families want the death penalty to be abolished the respect they get tell here is because that's what murder victims' families what that's going to give them peace it's going to give them justice and we come in and say. not quite enough we've been through this this

isn't the way. to look. them up purring packing off the last thing to me supremacy in that opening day of the will. really i sleep till i brought you seen as tight by holding just one old rule we have the time right i'm about to let you know i could tell you. when i sometimes go wild. some people from all around the globe or in the streets of the russian capital a set of rights in the world's most poultry and that.