issues well asked lionel of why no media and as the u.s. tries to stop iran from exploiting oil iran says it will speed ahead we'll be joined by chris martenson the founder of peak prosperity dot com to discuss the circumstances and the potential for dire consequences and the car coach lauren fix is back we'll get into auto industry news including what took place this morning in shanghai has tesla c.e.o. must made a major announce to all that directly ahead but first we get to some of those present donald trump departed washington this morning arrived in brussels just a short time ago for a weeklong european tour that will start with a nato summit mr trump has set the table for his visit with nato leaders by complaining via his favorite method of communications twitter that quote the u.s. is spending many more many times more than any other country in order to protect them not fair to the u.s. taxpayers mr trump's twitter complaints echo complaints he made in letters recently sent to fellow nader leap nato leaders u.s.

partners in europe have reportedly taken offense the tone of the letters mr trump spoke to the media before departing for europe. well it is interesting time is certainly going to see. fairly soon as they work something out very far too much and they say far too little but we'll work it out. the be happy. will see on the happiness part the president's travel include two days in brussels then to london for a meeting with embattled british prime minister theresa may mr trump triple and with a meeting with russian president vladimir putin in helsinki finland on monday and will have more on this in the coming days. the washington post has reported that private equity firm warburg pincus has entered the business of mailing checks to desperately poor people then hitting them with interest rates equal to or higher

than those of payday lenders the story raised some eyebrows here in washington because former obama treasury secretary timothy geitner who i know from experience was not the foremost champion of holding wall street accountable for the two thousand and eight debacle is now president and managing director at warburg pincus the company owns and manages mariner finance which mails checks with fine print hiding interest rates as high as get this three hundred five percent that's reportedly legal in at least one us state that's mississippi by the way the predatory so-called consumer installment loan sector is growing and part due to attempts to evade new restrictions on payday lenders according to the national consumer law center or n c l c two thousand and fifteen report the n c l c said five states have no limits on rates for these lows loans while another six states merely say that rates cannot be quote unquote unconscionable folks three hundred

five percent is unconscionable and a disgrace and warburg pincus spokesperson defended the profit profitable practice saying it quote fills a social need lets hope a former u.s. treasury secretary fixes this and fast come on tell. us president donald trump has nominated federal court judge brett kavanaugh to replace anthony kennedy on the supreme court kavanagh's fifty three years old was selected from a list of candidates approved by the right wing federalist society if nominated die . crafter concern that mr cavanagh could cement a hard right bloc of five justices that would almost certainly an active broad shift to the right across many if not all sectors of life and law in the united states jeff bennett of n.b.c. news tweeted this morning that the outgoing justice kennedy had been in months of negotiations with the trump white house over who would replace him if he retired bennett reported that kennedy quote felt comfortable retiring once assured that mr cavanaugh would be nominated the report seems to corroborate

a similar but heads report in politico and may create grounds to challenge both the kavanaugh nomination and supreme court decisions made with kennedy's vote one negotiations with the trump white house were underway a white house spokesperson did not deny the n.b.c. report when asked directly about it earlier today and judge kavanagh will need to be approved by the u.s. senate and late today a group of senate democrats standing in front of the supreme court gathered to denounce the selection saying that if successful the new justice could lead to an alteration of the infamous roe versus wade decision on reproductive rights and issues related to health care among others and here to discuss the nomination and more and what it might mean for business and finances why no of why no media who is also for those of you who don't know an attorney lionel thank you so much for being with us i heard the judge said that he thought it was important for justices to be independent interpret law and not make the law and they should do so on form informed by history and tradition they all seem to say that but what else do we

know about judge brett kavanaugh. well a couple of things he was on the d.c. circuit and that is considered the the twenty seven yankees of the best of bench possible for future skoda judges they deal almost exclusively with administrative cases and i'm going to tell you them there are some of the most boring reading you have ever had the opportunity to even get to you know people have a couple of things a couple of misunderstandings let me clarify something and listen carefully and put this in the record books and freeze this role against wade will never be overruled it will never be reversed it will always be the law of the land i promise you i guarantee you the legislature has made a limited someone there may be some curtailing in terms of what is funded it what

is not but a woman's fundamental reproductive right to an abortion whatever you want to call it will never ever be interrupted or impinged upon you have my word on this this is a scare tactic and a waste of our time what it may be comforting for some pit folks but i'm sure that the democrats on the senate side will continue to raise these concerns you know. and i prefer that you have read a lot of these decisions from the judge and i'm wondering you know we talk about social issues and that's that you know the thing that we do when these things happen i've been watching him for thirty plus years but from a business or finance perspective were you able to garner anything in the judge's past that that tells us where he will be a most types of issues i mean is he pro-business or anti-business or it's hard to tell. very very pro-business let me give an example i think we had we were going to discuss this classic case of the c.f.p. b. this is the consumer financial protection board case which was.

absolutely riveting in the world of administrative law. why does the two hundred and fifty page on bonk match monster meaning all of the justices all of the judges rather of the d.c. circuit got together and ruled on this and basically what it said was simply this that it said article two the ability of the president to be president and the the maintaining of separation of powers would prevent these c.f.p. be these consumer organizations these outboard groups which by the way is an extension of dodd frank one of the creations of elizabeth warren that would seek to curtail the penalize rogue mortgage companies and credit card abuses and the like what he said was simply this rather than say listen these people get in the way of

business they crafted it as such they said this is a violation of the president's plenary power under article two the separation of powers one of the greatest attribute of anybody who wants to create something this is on the court who won something to happen whether it's because of religious reasons political reasons ideological reasons from abortion to gun control of the union the art is to be able to craft it in such a way that it sounds legal jurisprudential juridical just like the biggest con ever was when scalia said i am a textualist i'm an originalist mr children i don't read into their constitution i don't legislate from the bench oh yes they do who got it for years so this is all fall draw and of nonsense but he's pretty to use the word right wing if that applies you know i did read that judge kavanagh ruled that and i think it was back

in maybe two thousand and eight or two thousand and nine that presidents cannot be a sued that they're not they can't be subject to lawsuits and i wonder if that played into mr trump's decision to pick him. well that might be ok but the problem is clinton against jones would have already overruled that one he also was very very strong when it comes to second amendment rights he is also he had a very interesting look at a person's right an illegal immigrant or undocumented whatever particular phrase you want to use who came in and demanded and received an abortion now this is red meat for the prototypical right wing and he dissented as you can imagine but you have to read the way he says it's very very crafty let me just leave you what with one thing when a judge puts that robe on historically judges presidents have thought i have got the best guy possible j.f.k. picked whizzer white byron white who turned out to be very very conservative nixon

picked harry blackmun who gave us roe against wade the classic the greatest ever was earl warren eisenhower said this was one of the worst decisions ever because of the warren court anthony kennedy sandra day o'connor were adamant in maintaining role and reagan said i don't understand this so the idea that you know what some judge is going to do if and when they are presented with this by the way gun laws like justice thomas says are an orphan issue you're not going to be hearing about second amendment if you you're not to be hearing about roe you're going to be hearing about regulation you're going to be hearing about business you're going to be hearing about that which they're going to say. fortifies covers cost protection but doesn't impede free free enterprise that's what you should be watching very somber and interesting fact we appreciate you didn't get into this line of why no media counselor thank you for your time thank you sir that.

time now for a quick break but stick around because when return will be joined by chris martenson. founder of prosperity dot to discuss the circumstances and potential for dire consequences regarding iran and their continued ability to export oil as the war of words and actually accelerates what lauren fix the car coach is back and we'll discuss auto industry news including a long lost trip to china where he made a major announcement this morning and as we go to break here are the numbers at the closing bell despite talk of rising prices of oil seems to have stalled just below seventy five dollars we'll be right back. to what we've got to do is identify the threats that we have it's crazy going from

dacian let it be an arms race is often very dramatic development only i'm going to resist i don't see how that strategy will be successful very critical of time time to sit down and talk. to the wall a nazi don't it was still active branch in the nineteen seventies cretonne had as the chair of its board a man convicted of mass murder and slavery at auschwitz the german company grown until it develops in the demise of a drug that was promoted as completely safe even during pregnancy it turned out to have terrible side effects what has happened to my baby is anything but. he's just got chopped up many so they don't mind victims i have to this day received no compensation they never apologized for the suffering that i did not only want the

money i want the revenge. oh. god. was. welcome breath back president air to one of turkey has appointed his son in law as the country's new treasury and finance minister the son in law bear out a buyer act has held the title of energy minister since two thousand and fifteen is

married to the oldest of the president's daughters the turkish lira fell by roughly four percent after the appointment was announced and there was a sell off in turkish debt and shares yields on ten-year turkish bonds rose seven point one five percent mr heir to one also took the oath of office on monday for a new term as president and issued a decree cutting the term of his appointees to the central bank from five years to four it's unclear if the decree will impact the current central bank president. the vice president of iraq asked. curry let me get that right yes iraq john hungary said today that while u.s. sanctions will negatively impact the iranian economy the nation would endeavor to quote sell as much oil as we can the statement comes in light of president donald trump pulling out of international accord the iranian nuclear deal is what most people call it which lifted sanctions in iran in exchange for them scaling back

their nuclear proliferation program and the u.s. saying in may that other nations would pay. consequences if they continue to purchase or oil from iran after bill bamber fourth of this year and some nations have said they will continue to purchase iranian oil notably india which is a large iranian oil importer and european officials which continue to support the iranian nuclear deal say they will remain active and engaged with iran just days ago foreign ministers from france germany britain china and russia the five remaining signatory nations to the nuclear deal offered a package of economic assistance to iran. and as the us government remains engaged in trying to shut down the iranian oil experts iranian officials have responded recently by threatening to block the strait of hormuz that's the water passage between the.