realty to keep spending at the levels they've been spending at their ability to keep pulling this economy along and we actually got some consumer confidence data today bart that suggests we have a pullback in the offing right now i saw that and they revised the number two and and we're speaking about those numbers daniel recall back i think we've spoken about it i'm sure we have back in the campaign in two thousand and sixteen there is the president and look at the campaign trail is that we're going to get four five six maybe seven percent g.d.p. and a lot of us said oh come on you know what do you smoke and but i want to explain for all the boom busters out there when we look at the economy and the fed talks about a one point eight percent g.d.p. growth rate and so does the congressional budget office i mean what's really something that we could expect if we're if we're at four point one now get to the end of the year is it two is it three. well i think that there is a high possibility that we actually see

a three percent annual figure which really would be extraordinary given how slow this recovery has been but again i think the fed is going to try and focus more on what happens after the third quarter what happens going into the fourth quarter i mean as you just mentioned campaign promises can be whatever campaign promises can be i mean look at what the italians promised all of their people craziness but just the same going further out past this year look at it this way i'm in new york today bart if wall street firms have begun to budget for a recession to hit in the year twenty twenty that really means that they're internally budgeting for twenty nineteen there's no way that i think we can completely eradicate the business cycle so there will be slowing at some point in the next twelve months in my view and that's why i think they have these estimates of one point eight so two questions on that one is and this is not a reflection on this president or any other president i mean the demographics just aren't there you've got folks like me the baby boomers were getting older we're

we're not in the workforce and so and then we require the rest of the economy to support retirees so the impact on growth has got to be negative just on the demographics right. well the demographics are certainly not supportive of growth going forward the last time that we went into a downturn in two thousand and eight the entire baby boomer population had a lot more optionality than they have today they were able to say you know what i'm going to stay in the workforce for another decade now we see the outer edge of the one nine hundred forty six birth year turning seventy two this year so this is the same optionality is simply not there which means that there's going to be a drag as they start to take pull at their retirement assets they'll be a drag on the stock market they'll be a drag on public pensions so these are things that cannot be argued that this was the largest generation in u.s. history and it will take some money a lot of money to finance all of them millions of them in retirement that's super interesting about they don't have the option ality i know

a lot of people they said with the economic downturn i got to go back to work you know they came out of retirement they don't have that option now released a lot of them don't but let me ask you about another impact on g.d.p. the tax cut you've got to say it's helped you know companies do some investing there is the arguing about too many stock buybacks but that's also going to fade over time right i mean that sort of sugar high won't be there for too long will it . well that is one of the concerns going forward i mean there's only one time that you can bring money back on shore there's only one huge boost to share buybacks companies also have to consider that they're buying their shares at extremely high valuations and that they're not as shareholder friendly activities as they used to be and again to your point if you're speaking about the long term viability of this economic recovery which is art of the second longest in u.s. history you're talking about companies becoming very aggressive with capital expenditures and yet their c f o's their chief financial officers are whispering in

their ear there's an economic slowdown in the making so be careful about what you do and don't invest going forward again i think we just have to be prepared for what is and navigable regardless of who's in the white house yeah i agree with you but we will watch if we get to that three percent growth that would be the first time since two thousand and five so we appreciate you keeping us informed and always providing insightful things like you gave us today the c.e.o. of quill intelligence danielle de martino both thank you did you know thank you bart. and time now for a quick break but hang in here because when we return manila chan tells us how our smart t.v.'s might be too smart for our own good and are they spying on us or maybe the better question is how much are they buying want to see if you're going to want to see this plus how will disney leverage the assets and attributes of twenty first century fox with the deal about to go down i sat down the other day with in new york with steve malzberg and we have his lofty learned and always entertaining take

as we go to break here the numbers at the closing bell the tech heavy nasdaq climbing back today gaining half a percent overall we'll be right back. russia is one of the countries that most buy capacity in all the very high population does that mean russia does need to be concerned about this inability i would say yes absolutely you are no lucky situation where you have a lot of farm per person so to say you know you have a lot of wealth ecological wealth and but the word is very scarce so that's a huge economic advantage as well and saying wow this is an amazing farm let's look after it well because that's said that may be lost to live well in the long run.

you know world is a big part of the lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than we need to be smarter we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the time is now. we're watching closely watching the hawks. what holds us in studio something to. put themselves on the lawn and they get accepted or rejected. so when you want to be president or injury. or somehow want to preserve that that's a right to be for us this is what the forecast for you in the morning can be good

that i'm interested always in the waters in the hottest. question. and welcome back the foreign exchange unit of credit card company american express is under fire for allegedly baiting business clients with talk of favorable currency conversion rates then later changing to less favorable rates cyc the wall street journal reports that the practice was widespread within amex's foreign exchange unit since at least two thousand and four and i'm told earlier this year this year following the news breaking their stock took a big time hit in an internal memo american express leadership told employees quote if we find that we fell short of the mark we will fix the problems and take appropriate actions to make sure it doesn't reoccur the what appears to be an

exchange rate swindle from my perspective reportedly targeted smaller and medium sized business clients a constituency that generates about twenty five percent of the card company's revenues and that amex has said they hope to dominate in the credit card space the scandal amex echo similar episodes of widespread malfeasance and other finance and credit firms including revelations of abusive sales practices that bad boy bank wells fargo. and irish air carrier ryan air is on the verge of a major labor conflict after two twenty four hours by its pilots based a doubling the strike days impacted a total of about sixty five hundred passengers and followed a vote by the irish airline pilots association to strike over personnel issues ground crews also stop working at least for ryan air hubs on the continent ryanair workers in germany voted on monday to strike and workers in the netherlands and dorset on the job actions earlier today now ryan air c.e.o.

michael o'leary has escalated dispute with a threat to move jobs to poland if workers carry out another day of strikes which are plan. for this friday august third a representative of italian ryanair workers spoke to reporters about the fight last week. to strike has been organized to delta ryanair it that they have to negotiate to c.n.a. collective labor agreements by innocent cabin crew working you tell me we do you insist that the workers have to stay. seven eleven franchisees say the corporate office of the u.s. convenience store chain is trying to force them into a very inconvenient new contract the york times reports that owners and operators of the chains ninety one hundred us store locations say the main office new got contract offer would put many of them out of business store operators say that the japanese own chains corporate offers offices pressuring them to agree to a fifty thousand dollar renewal fee even though they have steadily lost profit

share to the home office since get this two thousand franchisees say their profits are reduced by requirements to stock store brand versions of best selling items that offer hot food items that generate profits for the home office but just add to the franchisees labor and waste costs time sites u.s. regulatory filings that show annual profits at seven eleven chicago area stores are between three hundred fifty thousand and six hundred fifty thousand dollars. and south korean telecom giant samsung reported flat second quarter profits yesterday as a twenty percent downturn in mobile devices profits slow growth memory chips however kept the company level samsung accounts for one of every five smartphones globally although with prices for a new samsung phone at over one thousand dollars some consumers are not getting the newest versions as soon samsung is also a major maker of smart televisions and for years they have been number one

manufacturer of smart televisions i have a few at least for now we're going to listen to this story beside our smart t.v.'s too smart for our own good and are they spying on us at home and at work our team's manila chan gives us some important unsettling news. over the past ten years homes have become smarter in the past year alone more than thirty nine million smart home devices were sold in the u.s. and according to industry insiders twenty seventeen saw about one hundred sixty eight million internet connected t.v.'s being used in america staggering numbers more than half the u.s. population have smart connected t.v.'s already to save the growth of connected devices are robust is an understatement and those smart t.v.'s have made our media viewing abilities more dynamic and customized it has also opened up a pandora's box of data being collected on you everything from what you watch to how long you watch it what you browse they can even glean your political leanings

based on the t.v. news outlets you watch the t.v. manufacturers can then share that data with their business partners to better cure rate the perfect ads to show you last year smart t.v. maker busy zero settled more than two million dollars with the federal trade commission over software on some of its t.v.'s that collected data on consumers without their consent that's what's prompting two democratic senators ed markey of massachusetts and richard blumenthal of connecticut to ask the f.t.c. to investigate whether internet connected t.v.'s are invading consumer privacy citing quote any entity collecting and using sensitive information should comprehensively and concisely detail who will have access to that data how that data will be used and what steps will be taken to protect that information users should be given the opportunity to affirmatively consent to the collection and use of their sensitive information now legendary cyber security expert john mcafee had this to say about it. i think it's been

a knock on effect of it all how do you know for example that the t.v. is spying on you. there are features for example that are coming out where simple hand gestures are enough to have the t.v. change the channel you know go up go down whatever so that you don't have to be fumbling around with the remote control so if you have a camera in the in the t.v. and the camera is is used for some purpose how on earth are you going to know that it's spying on you or not. this is issue i mean we had t.v. spying on us for years and no one knew until samsung funny admit it not just watching but listening to you in fact in the manuals they now have if you want to have a private conversation do not do it in front of the t.v. last year wiki leaks published vault seven which detailed malware created by the cia in cooperation with the u.k.'s m i five called weeping angel it could effectively use your smarts he need to listen to you even when you think your t.v. is off we asked john mcafee if he thought new legislation could hamper the threat

here's what he said the government has all the power they have the enforcement they have the police they have the legislation and they can make more if that's not affected so that we have we have no power so while sales of smart t.v.'s and a host of other smart devices don't appear to be slowing down regardless of any cyber threats we'll see the internet of things become that much more tricky of a space to protect in washington miliband r.t. . with the does the twenty first century fox deal seemingly done what assets and attributes will does the gain from fox and what will disney do with them here to give us his take is conservative t.v. and radio commentator steve malzberg steve thanks so much for being here we've discussed the media merger madness before but what is it that disney's going to get from twenty first century fox that's really the most valuable deal first let's

point out what they won't get a lot of people think oh disney is going to get the fox news channel that's not happening they're not getting the fox news channel they're not getting fox sports fox to port days or the big ten channel so that's that they're not getting but they have so much that they're going to get they're going to just be a giant the mouse is going to be a giant mouse they're getting good twentieth century fox t.v. the simpsons and all the t.v. programs that go with that they did twenty first century fox they're getting national geographic they're getting access to international markets all throughout europe in asia and latin america television i mean they are just going to be they're huge now but they're this that's why there was such a fight over this because they it is a crown jewel fox was to both comcast and disney and disney is the winner so they're going to have a lot and it's going to benefit them in so many with different ways i don't know how this worked but in late may i was down at disney world of florida and i went on

the avatar right which is great the best ride i've ever been on but that's a does the product added avatar james cameron movie so much for how they have it but what other sorts of things x.-men i think of that are twenty first century fox own will be seeing rides etc does the of the x.-men i mean. can you measure planet of the apes all might go through some ride with that i mean that they're going to they're going to be able to use so much of the dizzy of the acquisitions that their theme parks and of course let's not forget the merchandising i mean just like they did with star wars maybe that didn't work out so well but you know do. merchandise is everything at the disney store and throughout their theme parks so they're going to have a fantastic for all the movies that you would that you don't know or don't know is associated with fox and owned by fox all of a sudden disney has them and this is good i mean they could open up you know a special theme park just for the fox acquisitions this is going to be huge let me ask you before we go sky the european pay t.v.

service that does the own i think you told us before thirty nine percent something like that but comcast which bowed out of the effort to get does the really want sky and comcast needs sky what he thinks happening with that well you've got disney is going to get the thirty nine percent that fox owned of sky comcast will probably get the rest comcast would like to have it all now hulu went through is into this because hulu is basically own thirty percent between fox and comcast and disney it's split up there are third there are so maybe there's a trade people are talking about a swap in the works where comcast would give their remaining to disney their hulu shares to disney disney with their own all of hulu and then disney in return could give the sky shares that they got from fox to contest and comcast would own all of sky so that seems to be what most people think will happen sky a pay t.v. service throughout the five countries with twenty five million subscriptions so it's a very important piece of property well we'll keep following it we appreciate you

helping us steve malzberg thank you. well i told you we are jam packed so that's it for this time you can catch boom bust on directv channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. that the free t.v. app channel one thirty two or as always hit us up at youtube dot com slash boom bust r.t. will catch you next time. the idea of spending money to acquire region to acquire territory to acquire wealth is an oxymoron there is no more wealth to acquire the ecosystem is collapsing the economy is flooded with worthless feel paper and the species is migrating over to the digital sphere feasibly these networks and platforms people are uploading their

minds into cyberspace and hope to become immortal so every dollar spent on defense every dollar spent by the pentagon is a wasted dollar that's a one thousand eight hundred seventeen sixteenth century mindset it's completely antiquated and it's utterly worthless. he. says says harlan kentucky. we've all read this group don't want to see you go green street families or you need. a co money since it was almost no coal mines left. the jobs are gone all the coal mines a sudden down there was a lot of to see these people the survivors of disappearing before their eyes. i remember thinking when i was younger that is anything ever happened to the coal

mines here that it would become a ghost town but i never thought in the million years i would see that end it. it's happened. protests against the immigration and customs enforcement agency take place across the u.s. but all met by supporters of president trunks immigration policy. has revealed the manchester leader bomber was rescued from war torn libya by the british navy three years before he kills twenty two people. and spain adopts new emergency measures to control the flow of refugees into europe while an italian charity claims migrant children are being sexually abused the man offered to help and said he would shelter me in exchange for sexual services when alone with my father's friend who before continuing the journey subjected me to

move and abuse me. as a full news programme we've had an hour and coming up next hour but for now the kaiser report takes a look at the state of the u.s. economy ahead of the country is it time election. oh america i'm sure this is the kaiser report their lazy hazy career easy days of summer. x. we're doing a double header today i will be on both halves and we are going to look basically at the state of the situation as kind of a summer solutions and we're heading into midterm elections and i want to look at what the big issues are going to be going forward so we're pre-court in this debate you and i in fact will be on the beach in montauk so we will be recovering from all

our yearly activities but the national and security state and the united states of inequality this is written by a man known his professor city university of new york and columbia so effectively has the beltway establishment captured the concept of national security that for most of us it automatically conjures up images of terrorist groups cyber warriors or rogue states to ward off such foes the united states maintains a historically unprecedented constellation of military bases abroad and since nine eleven has waged wars in afghanistan iraq syria libya and elsewhere that have goggled up nearly four point eight trillion dollars the twenty eight thousand pentagon budget already totals six hundred forty seven billion dollars four times what china second and military spending shells out and more than the next twelve countries combined seven of them american allies for good measure donald trump has added an additional two hundred billion dollars to projected defense expenditures

for twenty nineteen so he maintains for millions of americans however they don't care about these foreign enemies so-called foreign enemies that the media and the military industrial and all the lobbyist that go on to m.s.n. b.c. and c.n.n. and pitch their wares and so. well they're americans on fear the americans don't care about it they care about their economic health or is the i'm absolutely let me explain why up until very recently there was an idea inculcated in the human brain of expansionism of territorial conquest of power grabbing but as of recently we are now in a shrinking world and that the idea of spending money to acquire region to acquire territory to acquire wealth is an oxymoron there is no more wealth to acquire the ecosystem is collapsing the economy is flooded with worthless paper

and the species is migrating over to the digital sphere of these networks and platforms people are uploading their minds into cyberspace and hope to become immortal so every dollar spent on defense every dollar spent by the pentagon is a wasted dollar it's a nineteenth eighteenth seventeenth sixteenth century mindset it's completely antiquated and is utterly worthless again let me reiterate this line let me read it to you so you understand the full impact of what i'm saying as we're heading into twenty eighteen mid-term elections where i'm afraid when i watch the media i really feel like the elite the opinion makers the top one percent and those are the only voices you ever see corporate media because remember you've got to step sell a lot of stool softener and all sorts of products for the home and you you want these top one percent on there so they're what they're pushing is more war

and when they confront the voter in twenty eighteen because there are voters still get some votes i think they're going to be disappointed again for millions of americans the greatest threat to their day to day security is not terrorism nor is that north korea. iran russia or china it is internal and economic you and i have seen that we've crossed we've driven all across america several times in the past year you see that out there so when you tune in to rachel maddow you tune in to anderson cooper you tune into fox it induces panic at the enemy because they has it's like a different world they're talking about well they're not taking into consideration the real threat you could call it or salvation of the singularity so humans are going over the event horizon of the species that we've been inhabiting now for millennia and we're entering into

a new species existence and so this idea of territorial conquest is outside of the mind is worthless all the territory that will be acquired going forward in the global. unconsciously the collective unconscious and that's what bitcoin block chain is all about this is socially. artificial intelligence that is replicating itself these are be the ashtray of the book of the block chain to make humans extinct that is the war we face that is the domain that we need to consider so when this whole idea of. matching country versus country and spending money on weapons it's completely meaningless i would posit also that it's kind of sort of they themselves the one percent you're seeing them you're seeing their raw fear you're seeing and i think fear is a kind of decadence you have to be like you have to have too much time on your

hands and too much money to have fear because people out in the streets who are hungry and working hard they don't have fear because they don't have time to fear you got to survive well this headline is going to support what i was saying there we asked psychologists why so many rich people think the apocalypse is coming many of the world's richest seem to ernest lee believe that some kind of apocalyptic event is coming and have prepared accordingly you might have read about this before such as in the new yorkers deep dive back in january two thousand and seventeen billion or doomsday preppers are back in the news again thanks to a new viral article penned by professor and media theorist douglas rushkoff and it rushkoff give some insight on the grave manner in which some of the business elite are going about preparing for a dooms day which he learned first hand after receiving an invitation to speak with some one percenters so again important he's a media theorist as well so i think what you're seeing in the media from maddow

what you see when you're seeing that melt down when the connecting is this raw fear this fear of an apocalypse coming this is the sort of stuff you see in movies when people are like they see a scary monster that's never. and seen on earth before coming out them so he went to this event and he said the number one question being asked was how do i maintain authority over my security forces after the event after they support collapse comes this single question occupied us for the rest of the hour that he spent with these one percenters they knew armed guards would be required to protect their compounds from the angry mobs but how would they pay the guards once money was worthless what would stop the guards from choosing their own leader the billionaire's considered using special combination locks on the food supply that only they knew were making guards wear disciplinary collars of some kind in return for their survival or maybe building robots to serve as guards and workers if that

technology could be developed in time writing this is what led to the pyramids in an earlier five thousand years ago right the day pharaohs of the egypt who are unconscionably wealthy they kept going down this rabbit hole what if i'm dead and i need gold in the afterlife what do i what if so and tries to steal the gold one of us someone tries to tell somebody who knows who built the pyramid where the gold is in the secret chamber of the chamber of the chamber of the gold so they built a elaborate pyramid over many many years because they've gone down the rabbit hole of paranoia and narcissism and so americans in the other one percenters around the world are building similar pyramids on their mind it's not for nothing that the masons and other illuminati they have pyramid as their you know primary symbol to connect all of these thoughts into one hyperbolic apocalyptic narcissistic doomsday scenario and it drives in many cases technology but my point is that it's

all for naught because they urge that self gaia mother earth is shrinking to support life on this planet human life in particular so of the seven billion. that abbott planet earth there's only real room on spaceship earth for very few going forward so that's the apocalypse and. the only way to kind of deal with that is it would be the opposite of the kind of scenario you're talking about there there should be an outreach program you know to get to know your neighbor better because when the life supporting systems like water air etc started food collapse you're going to need to rely on one another not shoot one another anyway so back to this story of what i'm saying what i see with stacy herbert sitting here in new york city when i turn on m.s.n. b.c. and i see them having a break.