energy program thanks to both of you thank you thank you. and the largest restaurant chain in the world by revenues is mcdonald's of course and the company's second quarter earnings report is out our two correspondent natasha suite took the time to look at it and now give us an update on what's been going on and which mickey d's and devers are taking the biggest bite from profits. competition in the breakfast sector along with higher price menu options are just some of the reasons behind the drop in revenue for mcdonald's executives say some to the biggest bite coming out of their profits has to do with mcdonald's changing the structure of its business model the hamburger giant said selling company owned stores to franchisees her profits as a result their second quarter earnings fell twelve percent from a year earlier the company said it already recorded a pretax of ninety two million dollars for severance to the management they were tremaine along with costs involved for closing field offices but the overall picture is to provide more support to their franchises well they hope the extra

hand will enable them to better manage expenses won't do seen sales of ations are now in the works for more than one third of company owned restaurants in the u.s. mcdonald's reported a net income of one point five billion or a dollar ninety a share despite the charges for restructuring the company profits were up from one point four billion or dollars seventy a share from a year earlier for the company's second quarter sales were up globally by four percent domestically sales were up two point six percent mail delivery also field sales but it wasn't quite enough to meet analyst expectation of three percent growth for stores open one year or longer a new brand of beef was introduced on the menu and labor costs also increased during the second quarter some point to competition in the breakfast department which accounts for twenty five percent of their sales new promotional deals are said to be in the works a massive cycle spore outbreak is causing mcdonald's to find a new cell a supplier for three thousand of its impacted restaurants according to food a dragon ministration to. hundred eighty six people in fifteen different states

became ill after eating mcdonald's salad eleven people have been hospitalized as shares fell last week when donald gave its shareholders two point five billion dollars to share repurchases and dividends from mcdonald's stocks took a hit executives say that they are optimistic about the company's overall picture only time will tell if these big changes to the hamburger giant will make up for lost profits in los angeles times just waits r.t. . and time now for a quick break but hang here because when we return steve walz group helps us take a longer look at the july jobs report and we'll break it all down for you as we go to break here the numbers at the closing bell gold down a little over half a percent twelve hundred fifteen dollars we want to air we right path.

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they have. a life. but i don't see it or no they don't they don't make or. break right. now more. americans are still in shock they're still dealing with the psychological damage in nine eleven they still need enemies they still unjustified they still are having troubles walking through it meanwhile the rest the world is. welcome back the united states senate has sent a military spending bill topping seven hundred seventeen billion dollars to the

does the president donald trump want to buy part. as a vote of eighty seven to ten mr trump who used the recent nato summit as an occasion to push u.s. allies abroad to buy more bombs missiles and planes from american defense manufacturers of the spec to design the legislation spending for defense now accounts for more than half of u.s. federal discretionary spending the legislation budgets for seventy seven f. thirty five fighter jets made by the lockheed martin corp well even defense biggest booster john mccain senator john mccain of arizona has called the f. thirty five a scandal and a tragedy the f. thirty five is fortunate to be manufactured in the district of congresswoman kay granger who chairs the house appropriations subcommittee on defense spending go figure the build notably does not include a provision to block president trump a waiver for chinese elections electronics manufacturers e.t.e. which faced a fatal cutoff of u.s. tech imports over u.s. sanctions against iran and north korea and turning to east africa

a major infrastructure project on the nile river with the potential to transform energy commerce and perhaps geopolitics in the region is now under a cloud of uncertainty and suspicion after the project manager and engineer smeg new big kellett was found dead from a gunshot late last month mr big kelly became a beloved public figure with any of the opium for his efforts to push the half finished four point eight billion dollars ethiopian grand renaissance dam project over hurdles of domestic corruption and opposition from sudan and egypt which fear the power generating dam could reduce their agricultural water supply ethiopia says that they will let the water pass through to generate as much as sixty four hundred megawatts of electricity doubled their current level making them a net energy exporter mr big calley was an abaya for an announced press conference addressing project delays leading to anguish suspicion and speculation across the

o.p.'s to why mr big kelly may have been murdered. as we reported last time the july jobs report is out and while the number of jobs created rose by one hundred fifty seven thousand it was be low what many expected that said there are on average each month this year two hundred twenty four thousand jobs created that's above this time last year the unemployment rate nudged down a tenth of a percent to three point nine percent and here to break it down further is conservative t.v. and radio commentator steve morals brick steve happy monday welcome what does the bureau of labor statistics say about individual sectors like manufacturing or health care for july which did well and which well not so much well great to be here bard as always manufacturing is headed on the head thirty seven thousand jobs created and that brings thirty seven three hundred seventy thousand for the twelve

months making a year and in the term of donald trump the one thousand months over eight hundred thousand now understand the previous administration bart told us these manufacturing jobs once they went away were gone and weren't coming back but they're coming back you know durable goods transportation and machinery did exceptionally well in other sectors you had health care services did well as did the food industry and construction this spike the housing slowdown one thousand thousand new construction jobs which brings to a total of over three hundred thousand for the last twelve months so things are looking good retail financial services and thank goodness government held steady or went slightly down very interesting and what will take all the good news we can can get how about major worker groups you know we know that dude's like us white men usually have the lowest unemployment rates and and teenagers and as they're teenagers have the highest unemployment rate so anything interesting with other

worker groups that you've looked at. yeah a all time low for asians all time low for hispanics but listen to this talk about high school dropouts how often do we hear about that they've reached an all time low of five point one percent unemployment and those who have only finished high school and i'm not gonna be on the high school diploma for education they were at an all time low this month as well at four percent unemployment and that might be due to the fact that companies and especially small businesses are looking for part timers because there is a shortage of workers quite frankly but i found that to be very interesting it is but still get an education kids don't don't let. you know we've reported here that there are currently more jobs available than people seeking work but of course there's that pesky skills gap and that people looking for work don't have the actual requisite skills to do the jobs available but what about labor participation how many people in the us are actually employed as

a percentage now steve. well the percentage is sixty two point nine percent which remained about constant that's a good number if you go back over the past several years but once again that the number of people which i know isn't it significant but interestingly the number of people is again this is the eleven record set monthly record set in the one thousand months that trump has been president so you know that number is pretty good when you put the number and you parrot with with other economic factors i mean things are looking pretty good well we'll keep our fingers crossed i know you know there's always people are a little bit pessimistic and i want to be cautious but boy as long as we can ride this thing let's hope we can continue to do so steve malzberg conservative t.v. and radio commentator thank you see it always great to see it. and turning back to the u.s. sanctions hitting iran at midnight we take a closer look at how iranians are trying to cope and hedge their risk one avenue to

do so is by buying gold the wall street journal reports that as these sanctions which will ban gold trading with iran are set to take effect the precious metal is trading at record prices and to run that's into run after demand tripled to fifteen metric tons for the second quarter of twenty eight teen versus demand one year ago the journal's ciaran correspondent say an officially minted eight grand gold coin has doubled in price since the beginning of this year trading at forty five million ryall as last week the world group the world gold council reported last thursday that global gold trading with iran totaled sixty four point five tons in twenty seventeen on the flip side the re our reportedly hit a record low earlier today in black markets where bloomberg says it's trading at one hundred twelve thousand dollars to the us dollar and now we move to gold where we seem to be seeing more selling burden connected to the strong u.s. dollar to start the week gold is there a twelve month low not to run but will twelve months low here of about twelve. teen

with futures down over seven dollars an ounce earlier today to help us out we are joined once again by peter schiff the c.e.o. of chief and chief global strategist at euro pacific capital peter so good to see you again we haven't had you on for a while but we appreciate you being with us a many folks we spoke about this before said that when rates went up gold would tank but that didn't happen at the beginning didn't happen for a while but now we see these lower prices is that because of the interest rates. i don't think so i think it's because of the collective delusion among investors around the world that the u.s. economy is actually booming when it's not and the u.s. is going to with a trade war when it can't and so i think when reality rears its head i think gold prices are headed much higher right now they're just around a little bit above twelve hundred and i would imagine they'll be some pretty good support around this level well let me ask you about that and what are the components that could push gold up you talk about people really haven't gotten the

full magnitude of what's going on in the economy we talk about the trade and the tariffs all the time here not just the rhetoric but the reality and that's really hard to quantify today but it won't be as time goes forward and we've spoken in the past peter about the tax cuts and how that might help or may not help the economy what are the key components that we should be looking at sort of the metrics that might push gold forward. well i think the economy was a bubble when trump was elected and he's managed to blow a little air back into it it probably would have already been deflating you know your previous guest was going over all of the low unemployment numbers but they're just as fake now as they were when trump called out obama for touting the same statistics the labor force participation rate has imploded and so the reason that people are not officially unemployed is because they are not counted but they are

not looking for work and the stock market is a bigger bubble now than it was when trump pointed it out as a candidate so i think as the economy rolls over because the tax cuts was a bit of an artificial stimulus but the larger deficits that the tax cuts produce will be a bigger drag on the economy than the temporary boost from the cuts because is this ingenuous to claim credit for cutting taxes when you simultaneously make government more expensive which is what donald trump did by signing bills to increase military spending and increase welfare spending we have a bigger more expensive government now that taxpayers need to pay for and if they're not going to pay for it with income taxes they're going to do it with additional debt higher inflation higher consumer prices and that's what we're seeing consumer prices are rising rates are rising and those trends are going to continue and i think as the economy goes back into recession as it becomes obvious

that we are going to lose the trade war because we are right now benefiting from the subsidies that foreign economies are extending to us by allowing us to buy what they produce on credit and when they stop doing that it's americans that are going to suffer and i think the dollar is going to collapse and of course once the dollar starts going down people will be rushing into gold. yeah that seems to make some sense and you are so correct i want to tip my hat to you about the tax cuts i mean you know i thought they were disproportionately spread out peter but you talked about how they weren't going to be much of a stimulus and i think you just used the phrase artificial there they are certainly been proven to be used more than anything else for stock buybacks and that doesn't really go to help move the economy anyway we appreciate you joining us peter we hope you come back soon the c.e.o. in chief global strategist at euro pacific capital peter schiff thanks peter and the time. and that's it for this time thanks for watching catch boom bust on direct

t.v. channel three twenty one or dish network channel two eighty or streaming twenty four seven on t.v. that's the free t.v. at channel one thirty two or as always you can cache at youtube dot com slash boom bust r.t. will see it next time. you. first. of all those. two issues don't google so document on the first thanks. so much i must. tell you.

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ever we need to be smarter we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. ah ah . but it was supposed to some of us. but it's not the normal of just before. last time we chased. each one of them carrying twenty kilos of drugs for a first offense. for them they just important for us. in

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ever gotten. the u.s. imposes new sanctions on iran but gets pushback from the e.u. brussels vowing to protect the company's working with to wrong. claims of double standards emerge in the u.s. after conservative activist owens is suspended by twitter for making a controversial journalist whose racist tweets remained on the platform for years. with orphans reunited with their families after the children were taken from russia by their radicalized parents who went to join islamic state. i remember when the film crew arrived and they showed me the footage i could not believe it i could not believe that it was possible that my girls could come back home. she doesn't let me

go anywhere. and i welcome swati international live from moscow. thanks for joining us this hour . and washington has announced the first round of sanctions against the run which it hopes will weaken the country's leadership president trump since threatened severe consequences for those who continue to trade with the country still not everyone seems to be on board earlier my colleague andrew farmer got more details from. the first round of sanctions will take effect tuesday around midnight and from that moment on sanctions will prohibit iran from trading gold and other precious metals and fails of iranian automobiles will also be banned now the first round of sanctions will also ban iran's access to the u.s. dollar and place restrictions on its own currency but the worst is yet to come more

sanctions are due to hit iran in november and those are specifically tailored to bring iran's oil exports to zero now this should come as no surprise given that trump has been flamming the iran deal since its campaign days even though he didn't give in until much later finally withdrawing this past may a little over a year into his presidency they said it was ineffective in tailing so-called iranian aggression now not even his allies or the un convinced him otherwise but trump also claimed that the agreement did not block paths to iranian nuclear ization which according to the u.n. is false even today u.n. monitors insists that iran is in full compliance with the deal the same deal that was lauded world over as a diplomatic breakthrough and believe it or not this past weekend trump bragged about crippling iran's economy via twitter of course his platform of choice when it comes to informing americans about critical policy decisions but several analysts

and some iranians feel a bit differently. i believe the impact of sanctions on people's lives has been very clear especially in the health sector the patience is one of the opportunities that did this for students to study abroad the impact has been wholly negative and has reduced people power into. these sanctions are economic sanctions and they will impact the livelihoods of people the government after all can make adjustments to its budget but it's the people who bear the brunt i don't buy trump's line that these sanctions target the government these sanctions are being directly apply to the people but trump has stated that he's open to signing an. new deal but it's doubtful that iran would want to sit down with the u.s. after recent events ok let's go to peter. because the e.u. has given quite a stern response isn't it to these sanctions well that's right it's fair to say that the european union and donald trump haven't seen eye to eye on

a number of issues they fell out over the decision to move the u.s. embassy to jerusalem and in israel they fell out over donald trump's unilateral move to pull out of the paris climate accord but it's his decision to pull out of the iran nuclear deal that upset some of the biggest names in european leaders as well as in this among the diplomats and there was a communique issued well before this announcement that said the european union stance on these new tranche of sanctions was a unanimous no we are determined to protect european economic operators in legitimate business with iran this is why your opinions updated blocking statute enters into force under seventh of august to protect e.u. companies doing legitimate business with iran for an impact of u.s. extraterritorial sanctions so what is the blocking start to it well it was initially written into law back in one thousand nine hundred six it was designed to allow european companies to get around a u.s. blockade of cuba however it was significantly rewritten earlier this year to focus

on iran what it means essentially is that european companies have to pay no heed to sanctions against a country in which they're doing business say iran in this case and also that any courtroom in a foreign country based on those business dealings another fight in the eyes of the e.u. but put it this way with a hypothetical example say you're an e.u. car manufacturer and you've got yourself a toehold in a run maybe tens perhaps hundreds of millions of dollars worth of business that would be protected by the e.u. however the e.u. can't protect in another country. say the united states and say you that same you can manufacture and you do tens of billions of dollars worth of business in the u.s. well that business could potentially be penalized we haven't seen the e.u. blocking statute ever fully in acted we don't know how it's going to be received but certainly potentially

a legal headache for some people far smarter than myself right now to be going through that however in response to this news from the european union there's been a warm reception from tehran today the entire world has shown it disagrees with the u.s. policies against iran talk to anyone anywhere in the world and they will tell you that netanyahu trump and been summoned are isolated not iran well the u.s. secretary of state might pompei i disagree strongly with that he says that the sanctions and needed against iran to bring them back to what he calls the table of normal nations they've got to behave like a normal country that's the ask is pretty simple we think that most of the countries everyone with whom i spoke who understand that they need to behave normally and they understand that this is a country that threatens them it would seem that those countries that secretary pompei i spoke to were not countries because this is where we stand at the moment the european union has issued its toughest legislation to protect companies doing

business in iran essentially saying that they won't support u.s. sanctions and they're going to do their best to try and keep the iran nuclear deal alive even without the united states the iranian president has this mr trump's call for talks though he said diplomatic dialogue means honesty which according to him the u.s. president lacks. you saw there was an immediate member home was a go she was with sanctions doesn't make sense or imposing sanctions on a reunion children the whole nation was if you stab someone with a knife and then you say you want negotiations with and first thing you have to do is remove the night that the political analyst dan glazebrook told us in iran has become an economic battleground between the u.s. and e.u. this is a war on the population you know if the currency collapsed to a third of its former value that means people are living basically on a third of what they were living on just a few months ago that obviously relations are very very bad at the same time i

think of trying to believes that iran's just going to roll over and capitulate i think it's got another think coming for all trumps claims to be anti globalist and so on this is the same ol us imperialism and other trump represents this also aimed at europe as well don't forget you know that this is interesting europe hasn't fallen in line behind the u.s. on this and i think that's a reflection of the fact that the e.u. realizes this is a war against them as well they're the ones invested in iran they're the ones who are losing billions and billions of dollars of investment early stages of this manifesting on the economic battleground which at the moment is in iran but this is a battle between the u.s. and the e.u. . conservative american activist candor so in so has been briefly suspended by twitter for mimicking the racist tweets of a new york times journalist a little pin has more on the story. she's been removed from twitter because they say that her tweets violate their rules regarding hateful content candace she's

from turning points usa conservative organization in the usa what she did was she took hundreds of tweets from sarah jiang regarding white people she simply changed the target of the tweet from whites to black or jewish when she did this the response of twitter was to shut down her account candace owens says that twitter was right to take down her posts and ban her for making hateful comments regarding black and jewish people she says however the outrage is that sarah jiang was not banned for making these comments about white people on the surface i actually agree with tweeter with twitter assessment i believe that what i said what i tweeted was wrong you should not be able to tweet about any race or any group that you want them canceled that they should live underground i don't know why suddenly people think that white people are excluded from that scenario that people can't be racist towards white people when in fact they often are the problem with the new york

times essentially saying shinning her behavior is that they are signaling to the rest of the world that racism actually is ok as long as you pick the the right race this was candice owens first statement to followers after the ban twitter not only reinstated her account but actually apologized and said that it was a mistake for her to be banned now immediately there was a firestorm with people pointing to what they see as a double standard one of the words you go. tweets i'm replacing wants with blank i'm in tweets of bones that i was double standard every time i see one of these i can't help substitute black for white count is so stupid i will never understand the double standard why it's acceptable to so many now the wikipedia page of the new york times journalist is also in question now the page simply describes her as a journalist and has minimal contact regarding.