can't you were. not using europe. and a lot of people watching for it in his next move as well i have to leave it there journalist marcella for thanks for your thoughts on. the speculation about whether there could be an impromptu meeting between president putin and donald trump have the media rumor mill working overtime our correspondent i guess the have been taking in the latest headlines. well rumors abound the imminent meeting between the presidents of the united states and the russian federation dog donald trump and vladimir putin at a time when relations are historically low perhaps even worse than they were during the cold war and one of trump's senior national security advisors john bolton who is very very much a wall hawk and one of the most militant officials in washington he's coming over to russia the white house issued

a press statement saying that better relations between the two of the world's nuclear superpowers are in the interests of everyone but that there are pressing concerns that have to be address thirst for example the poisoning of a former russian spy in britain the events in syria in ukraine as well as alleged meddling in u.s. elections in two thousand and sixteen and that is the only part of this story that has been confirmed the meeting between donald trump and vladimir putin at this point just rumors. as far as i know mr bolton was at moscow that's all we can say for now there have been no official statements regarding impossible knitting between president putin and trump for the time being we have nothing to say and if and when we're reading. now mainstream pundits who of been opponents of any improvement of relations between the west and

russia well they've gone into meltdown over this they're saying that any sort of meeting with the russians would cause dismay and alarm and be counterproductive you'd think that these two countries the united states and russia which almost came to a military conflict in syria it would be good that they improve relations but it's not according to our headlines they've had a field day with this saying that such a meeting would you know would ruin everything and the real beef the pundits have had with this meeting is that if donald trump during his trip to europe meets with vladimir putin before heading to a native summit later next month the that would send all the wrong messages and that put frightened already jittery european allies. that's half an hour down and kate have the next world cup update in less than thirty minutes from now it's still

one nil to denmark against australia and the mara this is r.t. international thanks for watching. this is both of us broadcasting around the world from right here in washington d.c. i'm part children thank you for joining us. the organization of petroleum exporting countries opec meets in the end on friday but today will give you a sneak peek at what to expect on policies and prices with oil trader and the founder of greenberg capital david greenberg and as there is more media merger news we take a deep dive look at a definitive beaded disruptor net flix with the host of the big picture here in our t. america holland books plus in the wake of a recent report by the u.s.

social security system trustees will ask one question at the center for economic policy research what could be done to change some of the dim forecast on the financial demise of the program all that ahead but first we get to a few of. the family separation issue is again dominating the news today and condemnations of the policy pour in from many quarters including the business world and earlier today president donald trump said that he would quote sign something to end the practice tech related companies were in the forefront of the growing backlash with microsoft employees organizing a letter to their c.e.o. demanding an end to the company's twenty million dollar data processing contract with immigrations and customs enforcement the list of big names in the tech adin out tech sector denouncing the policy now includes tim cook of apple in law must of tesla and other key c.e.o.'s including that of google over and cisco meanwhile the lead official implementing the policy of de facto kidnapping homeland security

secretary kristen nielsen felt the wrath of public backlash here in washington actually just a block away from here if she attempted to dine out at of all places a mexican restaurant laughter evening was confronted by protesters before she abruptly left. and filling out a headline that broke as we went to air yesterday mcclatchy reported that the number of unaccompanied minors the trumpet ministration has lost track of is around six thousand up sharply from the previously reported fifteen hundred lost in this case means sponsors who were given to children did not respond to cell phone calls which is pretty troubling and while the executive order to end the family separation issue as just been signed by president trump the details are currently unclear we're going to have more on this on immigration the business impact of not just us immigration but other global immigration issues on our next program. australian telecommunications company telstra has announced that it will be slashing more than eight thousand jobs over the next three years most of the jobs

are expected to be from middle management and about one of every four executive positions the company has been facing increasing pressure as the industry has become more competitive with the company already preparing to sell more than one point five billion dollars in assets by twenty twenty and that's not all chevron is making waves off australia's coast as it finished the construction of two massive liquefied natural gas plants the company spent more than eighty eight billion dollars in order to build the plants and order to produce more than twenty five million tonnes of l. and g. this move will make australia the largest export or of ellen g. by next year overtaking qatar investors shareholders are joining privacy advocates and urging amazon not to sell facial recognition technology to law enforcement nineteen investor groups that brand themselves as socially responsible and manage a total of ten billion dollars an amazon common voting stock say the technology called recognition that spelled with a k. could create legal liability for amazon the investors also looted to

a threat to privacy rights that led three dozen advocacy groups including the american civil liberties union to send a letter in may that demanded amazon's growing web service division stop selling the. ology to law enforcement the advocate said the technology could effectively eliminate the freedom to walk down the street without being surveilled in an over police community especially those in communities of color is it suppressed freedoms of speech freedom of speech by identifying protesters. and on friday the off the opec the organization patrolling up forty countries meets in vienna to discuss whether or not they're going to continue their production cups with cuts with other countries namely russia and to have more on that sort of prognosticate on what's going to happen and what it may mean on policy and prices

we had the founder and c.e.o. of greenberg capital david greenberg thank you david for joining us or good to have you with us again my pleasure bar always good to see you and so after we had these cuts what are they been in place for another eighteen months or even longer at one point six million barrels a day and russia was the big kahuna that joined opec it looks like they're on sort of pace to get rid of that in fact some say that if we didn't see an end to those. production cuts we could see one hundred dollars barrel of oil but you're a former are you still trade but trade a lot for at nymex on oil for years and years and i always appreciated your advice over the years was that the commission david but how do you see things going forward. well it's interesting for some of your newer and younger viewers you know what we need to realize is that we're just seeing opec be opaque we've we've played this out every year for really the past thirty years and the impressive thing is that they've actually held it together over the last eighteen months and pulled some supply off and got the bump that they were looking for but the infighting has

always been there and what we're seeing with the drama between iran and russia and saudi arabia we've all seen before and you know if you look back in history and what i think will happen is they'll probably come out to some sort of an agreement they'll give some sort of minimal raise but the question's going to be like it's always been throughout history this who cheats and how much yeah there's been a lot of cheating in the past it seems david and particularly when you see iran's production which may go down i know that india said they're going to continue to get iranian oil and stuff but it may happen that iran does lose some production and who fills that in let me ask you though about a couple of key players you mentioned russia you know russia was part of this deal there they are one of the top three oil producers with the saudis and the and the u.s. they're pretty critical component of these cuts what are they doing it will like it or not russia is a main player on the world stage in this debate on that between making the g seven

or g eight or however you want to look at it but russia is going to want to pump as much as they can because they need the money right now and it's a good way for them to bring it in so i think russia is going to pressure very hard to get these limits raised one of the other members previously a fairly significant but not so quite as much a late as venezuela and lot of people don't even know venezuela part of part of opec of this not in the middle east of course but with all their political problems david are they pretty much a person out now. this well is one of the most incredible stories that is absolutely not being covered anywhere in the world i've gotten video and pictures from friends there were there last year about the rioting in the streets and everything that's going on and their infrastructure is absolutely crumbling and even at these oil prices it's a bump for them which you would think would be good the problem that they have now is between their ports falling apart their their mechanics on their wells falling apart they're down from one point four a day to one point two

a day and they're worried that they many even go under a million barrels so even if they wanted to be a major player they just can't because the country itself is imploding and the infrastructure on their oil is imploding so they're basically off the chart as far as being a real significant factor because even if you said you could they could do five hundred thousand barrels more a day they can't have they can't get it out this is the ones that and how about the demand side david have strong demand assume that's going to continue for the next few years sure war and seasonally strong demand anyway and you know as well as well as you know worldwide things are good economies are kind of humming along so you know i don't see the demand dropping off that quickly unless there's a major world event which right now things seem to be going pretty well well let me ask you about world events there a little bit and i don't know the answer to this one so i'm pleased to have your take on it but do all these trade wars the tariff talks eccentric do they have any impact on oil prices or on the oil industry in general. i don't really think so

first of all for american oil we don't export that much to begin with listen we're far better than we were when we heard zero so that's just going to be a small impact but i think what it's going to happen with the trade wars is that time now that it's kind of like your tariff against my tire of cooler heads will prevail in six months to a year you're going to see everything just not work itself out but they'll be deals that are made and will be arrangements made and i think you'll see the pressure really but i don't see it you would have seen it already you know in as far as a major spike and we've had a nice move but it hasn't been anything you know goliath type of a move on the way up yeah and i want to ask you a general price question before we have to go but you know we did see. it trading now around sixty five or sixty six but it was up you know from the seventy's and brant was trading around seventy four bucks today that's down from the i think it peaked over eighty couple weeks ago and gasoline prices in the states the current prices to eighty eight per gallon that's down a bit from a week in a month ago but but still up from

a year ago where it was to twenty eight so what do you expect going forward for sort of the rest of the year david well as you know i've been a bear my entire life and energy is but i felt seventy five dollars oil i mean oil when it was at one fifteen and then i felt the same way when it was at thirty five i think we're coming out to a pretty good equilibrium and you have to remember the world didn't fall apart when we hit one hundred one hundred ten there was some stress and the world and flourished were to an outstanding amount when we were thirty five so while we are up a little bit we're still so drastically lower from the all time highs that the economy can handle that the people can handle in the world economy can have one so i see a stand around here in a very tight now or arrange for the next year so you don't you don't see it go in one hundred at least. no i just don't because i think they'll be so much cheating on the way out that it's going to have natural sellers going on the way up there would have to be a major major disruption or a major middle east conflict between iran and saudi with some major tensions to get

it back up there because you're going to have natural selling all the way up on this market david thank you for your time david greenberg the founder of greenberg capital see you next time thank you. and the long standing component of the dow jones industrial average index general electric has been booted and replaced by walgreens boots growing up i recall standard bearers like g.e. and international business machines i.b.m. is always some of the dow's biggest stocks the move is somewhat of a landmark in that the dow began all way back in eight hundred ninety six and with g.e.'s departure now none of the original companies remains as part of the index and time now for a quick break but stick around because when we return we take a deep dive look at the definitive definitive disruptor in the media sector that net flix with the host of the big picture of holland plus we'll ask kevin cushman of the center for economic policy research what could be done to change some of

that didn't work out on the financial demise of the u.s. social security program and here are the numbers at the closing. if you've ever looked around a big city in the u.s. and wondered do we really need another starbucks are there too many you may be surprised to hear that starbucks is answering that question with a clear no on tuesday the seattle based coffee store chain told investors about

plans to close one hundred fifty stores in the coming year that figure is about three times or typical closure rate the corporation chose to scale back amid a visible glut of coffee shops many of them chasing the lucrative trend starbucks created that competition has contributed to a meager one percent expected sales growth figure for the third quarter of the year the closures will be focused in what starbucks terms densely penetrated markets those include places like washington d.c. for example which has more starbucks per capita than any state with more than one for every ten thousand residents state of california incidentally has the most stores with over twenty four hundred and sixty. south korean crypto exchange bit and now that more than thirty one point five million dollars in digital currency has been stolen after a major attack that some halted all trading as it attempted to figure out how to hack it or hurt this is the second major heist in the last week as thieves had already stolen thirty million dollars from another korean exchange called coin real

when asked about the attack the chief analyst at the securities said that digital currencies will always be targets for hackers worldwide the analyst said that no amount of security measures are regulations would be able to guarantee one hundred percent safety as there and a minute he and lightly secured systems make them ideal targets sounds like a cop out to me and it can't possibly be true things will get better. and we have spoken on the program many times about the media merger madness in fact today disney has upped their bid for twenty first century fox from fifty five billion done stock and seventy one point three billion total with some cash and that it was reported to be accepted just moments ago actually the new offer came in the wake of a federal judge's ruling allowing a t.n.t. time warner deal to go forward after comcast had come in with a fifty five billion dollar bid the stocks for all three companies were up in today's trading with fox trading in the high forty dollars range disney just over

one hundred five bucks and comcast trading in the low thirty three's we'll see what happens with comcast stock going forward and today however we go beyond that and dig a little deeper into the definitive media disruptor netflix and back a nine hundred ninety s. blockbuster video stores dot in the country with locations where customers visited and picked out movies or even a video game on tape on tape folks then the move went to d.v.d. and its height blockbuster employed more than eighty three thousand workers worldwide but the upstart competition back in the day was netflix which offered a service where a customer went online and order movies d.v.d.'s which would arrive in the mail the very next day we wondered how they would do it while due to next flick along with redbox the automated kiosk of course blocks buster went out of business their co put but like a shark that these to continue moving to eat and stay alive netflix has continued to move forward for three decades they have been the definitive disruptor in the

media landscape and here to go deeper in the as veteran media analyst and host of big picture here in r.t. america holland cook holland thank you for joining us always a pleasure ok so netflix you know they help knock off competition titian like like blockbusters and they originally were real beneficiaries they were add on value ads to the big hollywood studios universal's sony warner brothers m.g.m. and. and then they netflix started streaming their services right that was their first big move after the mail order stuff well even before they were streaming this was great news initially for hollywood they had another sales channel and many of your viewers may not be old enough to remember the rewind charge at blockbuster where they'd nikky a couple of bucks if you didn't rewind the v.h.s. tell you remember that well along came the better quality of set it set there was a had it piece a little piece the reminder it said be kind always remind her that she was sorry so along came d.v.d.

looked better sounded better didn't have to rewind it so here's a new way to sell through as they say to license hollywood movies so even before streaming and these netflix guys had the vision they didn't call a d.v.d. by mail dot com it was net flix you would go on the net order some flicks they'd come in the mail easy segue to streaming which has pretty much the last nail in the coffin of hard copy and you know why own it anymore when you can simply stream it but i made the movie studios love that because depp flicks was taking all these old movie is that the studios had produced and they were just sending them money so is a big deal so it was sort of disruptive it's hugely disruptive in that way and then the big the next big thing when they started we talked about this before with other media venues streaming there of creating their new content talk about that a little bit they start off what with house of cards right and we've seen this in

audio as well music has changed to the point where we don't want to own it anymore we just want to rent it it's been commodity like music. movies are like catch up you want some catch up go into mcdonald's grab an armful you know it's all been come out of ties you can get something everywhere but you can only get house of cards the crown and the other stuff that netflix is doing on netflix so now it's an awkward relationship with hollywood because they're licensing less of the commodity product and they're giving hollywood something hollywood can't push anywhere else the crown and house of cards etc and to some extent with the new content mean the old content they still need the studios but to some extent creating their own content netflix does not need hollywood because they're doing their own stuff and there are others that are into the game sort of trying to emulate in part at least amazon we know is a big one was recently reported that they're going to netflix is spending eight

billion dollars on original content amazon scope and five billion dollars on a regional content the reason reportedly about to enter into some agreement with the actress reese witherspoon so it's a big deal of course apple's out there trying to get into streaming too so it really you have to keep moving if you're one of these companies don't apples and oranges indeed because neither amazon nor apple has to make money they don't have to be profitable in the same way netflix does because amazon is all about selling you other stuff and apple is all about selling you their hardware so they can even afford to lose money as they do on music because they're just trying to get you into the walled garden let me ask you one more thing before we go so you have a lot of the you can't essentially be the same you always gotta keep moving like the shark and i was reading something that's very interesting about the old william morris talent agency which now has a content component there too they just did this recent movie and i think it's

endeavor contents what make the companies now william morris and denver perhaps and they've got this new book are doing what's the movie with jane fonda and. so they are always were going yeah yeah candice bergen so they've also got a movie out there doing content to write so even talent agency for morphing well they better because when you hear the phrase the golden age of television i don't think of grainy black and white kinescopes of milton berle and jackie gleason the golden age of t.v. is right now you mention reese witherspoon there has never been more competition for writers and other talent than there is right now helen cook host of the big picture here r t america thank you so much my friend as always fun to have you here you bet commish. and if you're concerned about the future of social security and medicare you may

have been unsettled by the trumpet ministrations most recent official status report and media coverage that repeated their pessimistic projections one trump administration report said the medicare trust fund will be depleted twenty twenty six while the social security trust fund could be depleted in twenty thirty four but dire predictions about the future of these and vital programs are virtual cut is a cottage industry in washington and experts who defined the program say the problems are overstated while simple and effective solutions are on the table and here talk down some of these numbers are is kevin cashman the senior associate at the center for economic and policy research right here what do you make of these reports kevin i mean you wrote a blog post recently with an eye catching headline that talk to about the social security trustees agree the program is well funded walk us through your take on what they say share so he said in twenty thirty four social security will face a shortfall so it will be able to pay i think it's around seventy nine percent of

benefits to retirees you know that's a problem but if you look at the trustees report which is the report that was just released they also predict that over the next forty years the average annual wage for workers will increase i think it's a fifty two percent. and they also just right there in the report say this is the shortfall that we face it's two point eight four percent over a seventy five year period. and you know if we raise taxes two point four percentage points that would completely solve the problem. it's not a big tax increase. and compared to how much wages are going to grow during the next forty years it's in then slee more important that workers. see their wages grow so it's all you're saying there's some simple fixes out there as you say two point four percent tax increase now and we just had this big tax cut it's going largely to corporations but individuals get some of it at least at the front end

they'll get some of it but what else other than a tax increase might be done we just reported the other day that in russia for example they're raising the retirement age and we've had these commissions i remember kevin mr social security claude pepper who was a first a senator from florida and then a congressman and really until you died and a great champion of this they came up with all sorts of remedies. obviously raising taxes a pretty simple one what else is out there kevin that that might be politically acceptable as well as a good policy share so i think it's first important to say why there's a shortfall part of that is because wages are shifting above this cap so i think it's one hundred twenty thousand dollars people don't pay the social security tax on their income as any quality has grown more of the wages that social security used to tax are above that cap so that's inequality so how do you fix it equality

you know that's a hard question but that would be one way to approach changing the caps yeah essentially lowering the the caps you're saying no getting rid of the cap can get rid of you or phasing in a higher income so that more income is captured by the tax so if you make two hundred thousand dollars you're only paying the tax on the first hundred twenty thousand ok i get it you know what i thought you were saying was another proposal that's been bandied about you say well look if you make a million dollars you don't get social security is that another one that's on the table that people talk about with any significant degree of certainty that it could be proposed when people talk about that but i think one of the benefits of social security is the it is the universal program and that's also one of its strengths and it's politically you know people who are invested in and keeping it around because everybody gets. so i think addressing any quality is a better way to approach it also small tax increases like i said that are

completely swamped by what the social security trustees say themselves wages will increase so there's no amount of economic growth we've got pretty great economy right now i mean things are going gangbusters and while not all the predictions are so gangbusters for the next twelve years let's assume that there were great let's assume that we had let's let's take the administration at what their word is that they want three percent growth. for the next ten years that's still not enough to take care that the tax revenues would be raised from that the social security or rather the so security input would go through just that's still not enough to take care the problem is that. economic growth is totally separate from the trust fund which is funded by these but they were if you're working that work tribute right so the in the trustees predict you know if fancy actuary tables and stuff like that they already take that stuff to and into account so action is needed but it's not

as dire as people say it is what's your prediction for what's going to be done anything in the near future and if not what in the longer term. i mean optimistically ninety percent of the democratic caucus in both the house and senate support expanding the program and they do that by getting rid of the cap like i said raising taxes a small amount. and increasing benefits for people at the lower end of the wage scale so i think that that's been shifted from democrats used to have a consensus on cuts so that's what i think is the way forward well we'll hope that they come with some consensus to try to figure this out it's been such a political. problem for politicians over the years and every two years or selection in this country and that makes it really difficult it gets demagogued but it's a really important problem to be dealt with that we're so pleased that you've spent some of your time your professional career doing kevin cashen with super thank you so much for joining us appreciate it. and that's it for

this time you can catch boom bust on direct t.v. channel three twenty one dish network channel to any streaming twenty four seven on pluto t.v. the free t.v. app and channel one thirty two or as always hit us up at youtube dot com slash boom bust archie we'll see you next time. with the three hundred world russian managers architects visionaries the largest international congress on the development of medicine july seventeenth through twenty second serratia park business program interactive exhibition urban festival details on my suburban forum dot com. this is a welcome to our special coverage of the biggest football event of the year the fifo world cup with not analysis and predictions.