scandals spy allegations and of course all very latest world wide news headlines we are back with. the very idea of a trump to the summit was controversial from the start they met in helsinki in essentially agreed the u.s. and russia should at least the gauge and dialogue to start a process of mending a very damaged relationship much of the media in the foreign policy swamp reacted with an apocalyptic meltdown how's the establishment it's my. right we're all set to start in five guys in the studio has a signal. he's not going to talk about no fly just

reviewed right after the war so explorers were moved would have their own unique. record. to say well we know. how to. hold them to sophie and tell him so the shevardnadze said today woke up lots to talk about in our program and our guest is. the rock that.

i'm. this is boom bust broadcasting around the homework world washington d.c. i'm bart chilton thank you for joining us me appreciate it coming up today amid new data details about increased consumer spending last month which has some economists suggesting a much more optimistic gross domestic product for the u.s. this year we talked retail with the c.e.o. of the stock's push melissa arm and israel has closed the only kerschl point of

entry into the gaza strip some say it's economic warfare alex the pilot it's just the details plus we take a look at the twenty eighteen computer attacks and cyber security with russia pressed the senior director of intelligence services at cyber reason all that ahead but first we get some headlines researchers at the international monetary fund or i.m.f. have said that continuing international trade tensions could reduce global economic output by half a percent by twenty twenty at a loss of an estimated four hundred thirty billion dollars the i.m.f. latest update to the world economic outlook warns the last could be that significant if quote current trade policy. threats are realized and business confidence falls as a result the new york times estimated last week that the additional cost from trade tensions for average american household will be one hundred twenty seven dollars also notably warned the united states

a heavy export is especially vulnerable to retaliation in such a scenario where other nations could retaliate against broad broad array of u.s. targets. and sticking with the i.m.f. their world economic outlook it was just released them predicts a three point nine percent growth in the global economy for both twenty eighteen and twenty nineteen but the researchers also warn that the probability of a significant down current has increased related to those trains trade concerns we just spoke about the i.m.f. forecasts differ from what their researchers call advanced economies versus emerging market and developing economies growth in the first category is expected to be two point two percent for this year and the next developing economies as the i.m.f. defines them are projected to grow by four point nine percent in a blog post on the update an i.m.f. researcher forecast china to remain the same although as a note china's q two g.d.p.

actually dropped by a tenth of percent to six point seven percent the i.m.f. forecasts do suggest that some latin american nations growth rates have been adjusted downward since the april up late the outlook also predicts the growth in subsaharan africa will increase strongly enough to raise per capita incomes though that growth will not approach the levels seen during the famed commodity boom in the first decade of this century. and turning to banking the bank of america charlotte north carolina has reported a thirty three percent increase in their profits for the second quarter the q two profit for b. of a was nearly six point eight billion dollars versus five point one billion from a year ago and their earnings per share of shot up to around sixty three cents and goldman sachs. the fifteenth largest bank in the united states posted an even greater year over year percentage profit increase of forty four percent with two point three five billion dollars in profits just under six dollars per share versus one point six billion

a year ago and the earnings per share beat estimates of four dollars and sixty six cents and a related personnel news goldman sachs c.e.o. lloyd blankfein formally announced in a call with managing directors that he will be replaced by goldman president david solomon mr solomon's promotion had been widely expected since he became goldman's only president in march but there is no word yet on when he will formally take over . and the retail sales numbers are out for june and they rose by half a percent the figures represent spending and us stores and their websites and restaurants at the same time the may figures were adjusted upwards by half a percent from point eight percent to one point three percent and here's a look at retail details and what it what it is is well if so are most she's the c.e.o. of the stock swoosh welcome melissa we always love having you and just when we thought that things may be looking not so great these new numbers come out and the may numbers were revised upward what's your take melissa. yeah i think that was

really probably part of the boost you've seen in the last couple days the rally in the market a lot of these stocks have just been a rallying rallying rallying to amazon came out with a prime day this week so there was a lot of reasons for retail to get a lift not just the words momentum from the main numbers but the june numbers as well. listen i noted on sunday and iconic eighty year old sears store during park neighborhood of chicago closed down for good and the closure which was one of five hundred twenty nine hundred five hundred thirty remaining sears stores is part of a current closure of about seventy eight stores around the nation what does this say about brick and mortar in today's largely online world. i'm telling you bar it's really the future in some ways is bright but in some ways it's bleak what i mean by that i think amazon is going to put a lot of these retailers out of business which you could look at it from one perspective and say it's good for consumers because you can get amazon products so cheap and they offer so many things one stop shopping and it really reasonable

prices but on the other side of it it's going to put a lot of people out of business that have jobs at these stores and also it is taking away from the shopping experience i've said this before i think on this show whole foods was bought out by amazon and i love to shop at whole foods it will never be the same experiences of the same anymore the personal touch there's a lot of things that are not on the shelves anymore the store looks a mess when you go in there and you don't have the same customer service so you're going to see that more and more and more when you go to shop at these places things are going downhill and they're going down how fast look at towards a rush toys r us went out of business and for all you know amazon pushed them out of business as well as on may brand new all time highs again today over one thousand eight hundred fifty one dollars a share it seems like nothing is stopping this and jeff bezos now is the richest man in the world at one hundred fifty billion dollars and you say you know is this a good thing for a. or is this a bad thing for us they're going to be pushing people out of business not just

sears not just toys r us other people tell us if we have time i want to get back to amazon but i want to get sort of the bigger picture here to melissa on what are the bright spot sort of the areas of retail that are doing well is it restaurants is it you know sporting goods what is it that people are really going after now. well they only have the only stock that i like that seems to be doing well that's attempting to compete with amazon is target target is still holding very very strong they came out with their own thing in the last couple days where they're offering a lot of sales to try to compete alongside the amazon prime day you had other retailers doing that too macy's is doing like a black friday thing but the stuff really doesn't look that great macy's stock is not an uptrend target looks good and they're trying to compete with amazon and go toe to toe because the prices there are good and they do have brick and mortar stores are getting people in but i'm telling you it's a problem one march stop doesn't look that great but wal-mart came out with this

new thing they're doing a three d. you can put different furniture pieces and try to play around and see how your furniture looks before you buy it but the stock doesn't look that good long march going to try to compete with amazon and target too but i don't know if in the end they're going to be able to do it you mentioned. and you mentioned which i guess started yesterday three o'clock eastern and i went today but it didn't go that well they had a computer problems or what you call and then it was interesting they had some problems but they still had tons of sales people hung in there because i guess it's thirty six hours it wasn't like just it was a twenty four hour period where they were doing the sale so they ended up fixing the problems but you know for all i know the site could have crashed i mean probably so many people came and wanted to spend and i don't know what the totals are going to be by the time it's all said and done but the stock may continue rising through this whole prime period because people are going and people are signing up and people are buying things and now they're doing this where they're offering special discounts to prime members even to buy food and now they're doing the food delivery services all these cities all of

a sudden now you can order food delivery and not just in new york not just in l.a. chicago dallas i mean all over the place are offering this is not something you know i'm telling you i'm a son is going to dip their toe and put their foot into any single thing that they possibly can to make money there's nothing stopping them and you know i'm telling you that for the little mom and pops it even made. rainstorms i just don't see how they're going to compete i'll tell you one thing about the amazon delivery and this is a personal anecdote and you know i'm sure they'll get their stuff together but we ordered the other day from a place and we get a call from an eight seven seven number and it says hi this is amazon i need to check some of your personal details now you know who knows that there really call it who knows or really from amazon you know i wrote a book about fraudsters pons ammonium and that's one of my red flags never give anybody your information. is just calling you they don't miss it your failure we

cancel the order and we went to the restaurant directly which wasn't a bad thing for our health but they've got they have are having some growing pains in this stuff but the do the grow hubs they have to watch the door dash is the all those guys are on their target amazon target list right now yeah all of them but this is i'm telling you anything else amazon was still looking into health care real estate we talked about this even six months ago trust me when i say they are going to try to dip their toe into being a full service for everything you would ever ever need and i don't know if that's a good thing is what i'm saying if you own the stock it is but as consumers i'm not sure we're going to have less choices and less quality and in the end i don't know if that's really what we want well i think we're going to have a barlow in here to talk about and i trust in the future anyway we thank you for always being with us the clever as ever c.e.o. of the stock melissa thanks melissa. and it's time now for

a brief pause for the promotional cause but hang here because when we return alex one pile of it gives us the details about the closure of the only commercial port of entry into the gaza strip as some are saying it's economic warfare plus we take a look at two thousand and eight teams computer hackers and cyber security with the last one to see the senior director of intelligence services cyber reason and as we go to break your of the digits at the closing bell will be right back. i'm max kaiser with more of my guide to financial survival this is. a

device used by professional scallywags to earn money. that's right these hedge funds are simply not accountable and we're just getting to them. totally destabilize the global economy you need to protect yourself and get in for a while because we. just manufacture consent to the public will. when the ruling classes protect themselves. with the flaming. lips and neither will. ignore middle routes to. the new google economic. war is unfolding in the realm of education the right to

education is being supplanted by the right to access to education loans higher education is becoming just another product that can be born and sold but it's not just about education anymore it's also about running a business and what you good. luck with the souls. of the following couldn't you. want is the place of students in this business model before college i was born now i'm an extremely more higher education the new global economic war.