by roughly eight percent after president i want to plug for the company the president offered no details on how i boycott would be implemented you may recall that he famously use face time function on the i phone to rally his supporters against a twenty sixteen coup attempt some market watchers think the real takeaway from miscarriage of one speeches is defiant tone signaling that he will not yield to global investor pressure to raise turkish interest rates currently at seventeen point seven five percent to both both are the current the turkish lira that's their currency if the fight wasn't personal up to this point between the u.s. and and mr i don't want it surely is now with the two leaders who like to be seen as strong an unyielding have stumbled or rather jumped into an economic and durrance contest. and dominos pizza second quarter earnings have topped forecast with seven hundred eighty seven million dollars domino's c.e.o. rich alison said in a statement quote global retail sales remain strong as we see our franchisees building new store the growing same store sales and bringing customers back again

and again the company touted the q two earnings and the introduction of domino's delivery hot spots which are locations where consumers can get pizza delivered without an actual street address there are really two hundred thousand such locations across the u.s. and papa john's pizza took a hit to their q two earnings with a drop in sales of six point one percent in december of two thousand and sixteen the company had a stock all time high of north of ninety dollars per share but since it has lost fifty percent of its value related to store sales growth while q two ended on june thirtieth since then there's been a public feud of after the founder the major shareholder john gadar the papa john himself resigned as chairman of the board on july eleventh and admitted to using racial slurs during a conference call papa john still sits on the board and remains the largest shareholder in the company and it seems that the negative sales must be impacting the company as we'll see the third quarter hold for the troubled pizza chain coming

up. and here to talk pizza is fred kaufman author of bet the farm how food stop being food fred thank you so much for being with us now this debacle that quite frankly we haven't covered it too much on the show the whole papa john's racial slur and everything but now that their numbers are really want to get to it they're declined it's probably good news for domino's another pizza companies and domino's what they're the largest in the world aren't they domino's is number two the largest remains of pizza hut yes but you know brains yes exactly but domino's is gaining fast i think we have to understand the scale of global pizza we're talking about a one hundred thirty five billion dollar industry globally the fastest growing country with demand for pizzas of course china they were up twenty eight percent and when we're talking pizza bart it's not just pepperoni anymore in different parts of the world we're seeing pizza we're seeing mashed potato masher where do they have what ireland to have meshed potato pizza earthian sardine pizza so anything that you can

put on a crust with some matzah relish e.-s. goes for pizza these days well that's why in your great book quite frankly fred i've been rereading it and i just love it you know you actually went to a domino's and saw how they made this stuff and mass product and mass production and talk about how it's really changed food but you're sort of querying whether or not pizza could actually help feed the world what you tell us about it it seems almost obvious that you have very simple substance you have a little wheat and you throw some tomatoes on top it's a very interesting phenomenon which is that we have commodity wheat global wheat we have processed tomatoes we then have matza relit cheese which is really all monopolized in denver colorado by a company called le pray no in charge is james the prey know the big cheese of denver this is the secretive that secretive cheesemaker that you talk. about the

book precisely he's eighty years old he's given exactly one interview with the press in all that time and then of course we have come out of the meat and all of these pressures these monopolistic bio engineered sued process sees have pushed down the prices of these basic commodities for the world's small and medium sized farmers who are being increasingly driven off their farms they go to the large urban centers the world's great cities where they join about half the world who are earning about two dollars and fifty cents per day they cannot afford the five ninety nine deal from papa johns they can't afford it so in fact the more we have food from nowhere the more we have this. bioengineered monocultural process we have an increase in world hunger. you have crazy and one of the interesting things that you discuss in the book it just makes all the sense in the world is

that those small farmers that you say are sort of being driven off the land they're really many times artisans they produce really cool stuff and i think you said there are something like four thousand verities of tomatoes but that's not what domino's and papa john's wants no what's interesting about the small farmers first of all is about half of them are women their food feeds about half of the world and in fact we have places like gama a traditionally a large producer of tomatoes which cannot keep up with the process tomatoes made in other parts of the world like california in israel and we're seeing waves a farmer suicides even in upstate new york the dairy industry is in such dire straits we're again seeing people leaving the business and being driven to the edge of despair debt and suicide so this is actually not a good thing you know a a we had already talked about cheese but you just mentioned dairy there and one of the little facts that i thought was really interesting so i'll share it with the

boom busters is that you're right that fifty percent of the dairy milk in the u.s. goes for cheese and the number one cheese. for that for the peach that we are talking huge numbers here ten billion pounds of cheese a year consumed in faraway mozzarella is number one ok so let's get back to hunger if you were going to try and wave some magic food wand and do the best we could to feed more people because as you'd note we've got obesity on the one hand we've got people starving on the other hand what would you do to fix things for a global hunger the problem hunger is there is no one killer app for it what you need is there is a number of things we need to have support for people who are hungry direct food support we need to direct money support we also need governmental support for small farmers we need education farm education like we've traditionally had in this country in the in the agriculture colleges all these things put together. we need a sustained effort we have right now more than one point two billion people on

earth living for less than a buck twenty five a day most of those go to bed hungry every night what a shame what a shame let me ask you one other thing if when we look at the nations around the world with the most hungry people which ones are the most troubled well what we're seeing again and again and again is places that have a lot of political trouble also are having food insecurity and that's because the leaders of those countries don't really care about the people in those countries the classic cases of course ethiopia the ruler is never go hungry bart and there's plenty of food that's the other thing is that there's more than enough food there's i think fifteen to thirty percent more food produced every year that is needed to feed everybody on the planet the problem can be solved for about thirty billion a year and the united states is certainly not immune to food insecurity for millions of people fred kaufman author of bet the farm out food stop being food thank you always so entertaining and interesting thanks fred thanks bart.

and we take some time to discuss australian stocks and we do so with australian economist and author of last year's can we avoid another financial crisis steve king who joins us from amsterdam safe thanks for taking the time to be with us i know some about the a.s.x. the australian stock exchange i guess they change the name it's now called the australian securities exchange but tell our viewers about the importance of it to the australian economy and maybe talk about some of the key listed companies on the a.s.x. well the well meaning six of the dominates the six is thing fact the banks and that should be a bit of a warning bell anybody who knows there are economic history because at one stage non of the world's ten biggest banks which happen a's and it was just before the bursting of that bubble back anon saying you phosphors now. none of the world's top banks japanese i think something to make up thing like about being

a close to hof the entire index then if a bit of the remainder is the minerals possible cause for a strike it does have a fairly substantial nodding industry and does i'm not going to go wine and signed by the banks might do and then after that you start getting into a lot of. smaller capitalization because fundamentally expansion monitus i want to pick up on the capitalization oh wait while we look at stock exchange the around the world australia is actually pretty big what's a market cap look like i mean compared to others perhaps well it's about one in the house trillion dollars which is about it and less than a trillion american dollars and to give you an idea of how that compares the size of the economy america's that is valued now at well over thirty trillion pays on the twenty you say go to a one point five times j.p. valuation for american shade is there isn't a strike is guys it's about haas that one seven five now that's not to say the destroyer is is undervalued it's more to say that if you want out of sight is

overvalued because if you take a look at the american stock exchange it's been on a scare up with sometimes of its share share values and proselytes rushes it has since the fed turned only the test of quantitative easing and i think in that by sis i'd be expecting a near strong economy to have a problem in the near future but its share market money will go up compared to the american if it's not. i want to get to a couple of those things real quick but let me ask you before we leave the a.s.x. by itself they trade derivatives there don't they other i mean assume they trade bonds except for so it's more than just dokic danged if they're trading what metals and energies and those sorts of products. oh you wanted to think i stock market street trivial compared to the bond market so the bond markets about forty trillion dollars this is about one and a half trillion for the stock market so the stock market's up and is a much much larger volume and much much larger volatility small the volatility good large amount of money in the bond market interest rate swaps than there is in the

actual stock market yeah those financial products the ones i used to regulate you know the financial futures products were just you know bigger than oil and gold and all those you know big physical physical products let me ask you a.s.x. i know was involved in at least a pilot with digital assets that you may recall blith masters used to be with j.p. morgan but she's got the that company here in or in new york rather in the states and they are doing a pilot over there the a.s.x. on block do you think block chain is really sort of if stock exchange aren't working on block change they're going to be doing so in the future. i think look transmetal lucky to work on the stock markets this is money frankly because the the gold bugs who invented big coin and things like that really saw the ledgers as being the problem and the banks effect wasn't village's it was creating far too much money irresponsibly that was the major problem but instead of the other small contracts and bedded in digital systems. makes

a fair bit of sense for exchanges certainly most of them it does for money and before we let you go you touched on a couple of these things dave i know that there is a two point four g.d.p. for last year prostrate but tell us a little bit about the australian economy it's pretty diverse right you mentioned a mining earlier. it's not and finally in terms of diversity there's a wonderful service called the atlas of economic complexity driven by dot assad is that harvard university and that writes astray as being about as diverse as uganda in ethiopia it's got a very very now or industrial by so much of my favorite common type isn't it in astray or has the nickname of houses in olds he says if you take out the houses in the halls almost nothing list of the australian economy oh my gosh so i mean is it bad if you had to look at the biggest industries in australia what are they you mention mining that one energy still big as that energy is big but are they strains on a classic job of maka tossing or shouldn't be markets cars and actually having the

hostin e.g. process luxury in the world which of course is on the cutting and you tend to get manufacturing going there one small so it's been a debate in energy in telecommunications it but being disastrously mishandled by politicians i think i'd just add to mock it when they have no idea of how an actual one would use but certainly it's the biggest industry which is certainly being offer that it's actually education that's probably the largest export and if it is strained economy but we've got lots of smart people who are educated australia and we appreciate the high intellect that you bring to boom was steve cain a columnist an author an australian thanks always for your time steve. welcome. times for a brief pause for the promotional cause but hang here because when we return rugby corner of simpler trading untangle oil prices and a major move being made in the energy sector we're back in a. that's

kaiser's financial life they say money to develop. close to these it is a central bank support diagram is the problem right now so stuff. it's a very rough terrain you sort of claimants and you have to find suitable to the fact . it was gunshots on top of them and so many friends who would have been made and i mean even now i. don't think anyone will back up any you know i don't when you see a better body in this world when it's needed to participate in the good. old to me a good mood in which. you don't think about these things these soldiers who are no

you got three to like and you know those and the other patients. welcome back we've spoken about scooters an urban areas many times on the program companies are flush with cash and dropping thousands of scooters off and urban areas all over the world but now some cities aren't having it companies like loan and bird rides are now about to be handed new rules and regulations to deal with their businesses in denver the scene the city is even impounding roughly three hundred such hooters and in miami florida and portland oregon the wall street

journal reports that cities have kept the number of students to a few. each bird and lime neither of which is even two years old had raised nine hundred million dollars combined from investors and other scooter companies are on the move including companies fronted by right hailing companies goober and lift as discussed last week over a lifter facing increased regulations for their driving part for the ride hailing part in new york city and potentially other places around the world where the number of drivers may be limited the scooter sector now appears to be facing a similar governmental challenge we'll keep an eye on what's going to be an evolving and certainly interesting story. and regulators in the united kingdom are seeing more potential problems in the financial sector than in many years the financial conduct authority the f.c.a. has recorded more than five hundred open investigations since justice last april that's up one hundred from a year ago the same time according to f.c.a. the list of eighty six potential financial crimes and seventy five insider trading

matters is included in that f.c.c. has the authority to criminally prosecute corporates involved in such matters and while the number of cases are on the rise some of complain that f.c.a. is more lax than in the past citing figures which show actual fines for violations of the law or a seven year low. and despite the fact that india remains the world's fastest growing domestic aviation market two large airlines in the country jet airways and indigo are stressed and struggling to remain competitive missed higher fuel costs and a fairly weak rupie jet which some say has lost roughly seventy percent of profits this year alone is reportedly looking to raise cash and experts expect a second consecutive quarter of losses and to go profit profits have reportedly dropped ninety plus percent even the national air carrier air india is currently waiting for a government bailout after effort to privatized were unsuccessful ticket prices for air travel in india have however not risen due to the troubled carrier problem not

yet that. and speaking of fuel costs saudi arabia has cut back its oil production and a reversal from opec from what opec the organization of petroleum exporting countries agreed to just a month ago and here discuss that and more in the world of oil as rocky corner of simpler trading rocky thank you for you with us we sure appreciate it is this about the saudis filling a vacuum created by either the venezuelan reduction in production or the future of iranian exports due to u.s. sanctions what's your take thanks for having me back i think it's really a play on iran we don't know come november if it's going to be a million million and a half barrels that's the big question so what is that shortfall going to be and when you look at even though we've seen a slight or low slightly lower estimate from opec for that daily how many billions of barrels we need thirty two billion barrels thirty two million barrels

a day and if a million or a million and a half are coming off line how much of an issue is it going to be i look for who the losers are going to be in this scenario and i'm really looking at india as being a primary loser if that oil really does come off line and we can't find a way to avoid those sanctions a number five now it is one of the nations which pretty early on after the u.s. had their poll saying out say no we're going to keep doing business with iran so it's interesting you think they really could be in a troubled spot if things go forward right. i think if we see that million million and a half go offline right now but twenty percent twenty three twenty four percent goes to india another twenty three twenty four percent goes to china i mean that is that those are the two biggest customers for iran right now so when you look at that kind of impact and then also the u.s. stating very clearly that they will not do business with companies countries that are doing business well business with iran that puts in the end

a pickle and i've been looking at the. e.t.f. and that's already starting to show signs that traders and investors are starting to think that this is going to be an issue for india going forward do you think going back to the saudis just a little bit so if the saudis are sort of trying to make up for the iranian potential loss do you think other opec members or even you know russia will go ahead and try to also fill that vacuum because if it's not coordinated has been pretty coordinated for the last few years right but if it's not coordinated there really could be in even greater overproduction which would not lead to increased prices be other way around right. but you're absolutely right what we're finding is the output production in july was higher and even though we're seeing a slightly lower estimate for demand from opec there's no doubt that the saudis and russians are going to try to keep up that whatever that vacuum may be created by iran and also you you mentioned venezuela which is

a great point venezuela is production has continued to drop so there's not a chance that we're going to see the spigot get opened over there and see more flow from venezuela the infrastructure right now is just really in shambles in order to really pick up that production and as well we need to see a whole lot more improvement within the country so you're right iran becomes a problem but as well it becomes a problem and the russians of the saudis will pick up the slack they're going to have to i mean that's that's a the u.s. has asked that's best for us it's best for them and i don't see who loses in that first in that scenario right now very interesting when asked about something that with the news late over over the weekend on sunday there is a an agreement that they guess you know you know i've talked about it offline that they've been trying to do broker for an odd couple of decades the caspian sea agreement and it's these five different nations including iran we were speaking about and russia speaking out about and it's more you know the caspian is a large body of water it doesn't have any export or import so you might say what's

the big deal well there's oil there how much oil and how big a deal is this. it's a big deal if these five countries can stick to this agreement as we were talking earlier this is been what decades in the making and it's a minor miracle that it's happening right now so the numbers great point what are the numbers fifty billion they're saying fifty billion barrels of crude and over three hundred billion cubic inches of cubic feet of natural gas so it's a large pool and i think this kind of find is a possible needle mover now how difficult it is to be able to get is the question right that's always the question once we find this how quickly is it going to be able to get to market how expensive is it going to be what is the quality going to be those are things that i believe are still somewhat questionable and we'll see how this goes but those five countries coming together willy is after decades it's

a big deal you're absolutely right i want to ask you a little bit about shale producers an interesting chart i was reading that shows that the median crude oil price at which producers can make money drilling and including a new show shale well reduced rapidly of course from two thousand and twelve as commodities including oil and oil related products had slumped put in four key shale areas oil areas all seem to be currently on track to to make money even if oil prices were to drop significantly some even below forty dollars a barrel and there was this effort we were just talking about with opec to try and deal with keeping keeping price pressure down there but. what is it about shale how did these shale guys who everybody thought was going to be too costly to produce how do these guys make it in end up in such a good position now. so there are so many moving pieces this one let's tackle the

first one so what price to they break even of the major shell producers approximately three quarters of them will be profitable with oil over forty to fifty dollars or forty is really that cut off forty to fifty three quarters of them will be profitable and technology basically caught up now what hasn't caught up is a pipeline infrastructure so one of the problems we're seeing right now is a thing called d u c drilled but uncompleted wells because while we can absolutely very efficiently now get that shell out we can't move it and that's really where the problem is we're seeing a lot of a banded drilling sites where yes they can pull the oil out but then where is it going and that's actually been a big refining boom so you're seeing the refiners benefit from this because that w.t.r. is having to go out a bit at a discount because we just can't move it out quick enough and that that's where the pipeline infrastructure opportunity is probably still fairly new and as far as the downward pressure so you're glad you mentioned downward pressure on oil let's talk

about that u.s. dollar for a minute you know that strong u.s. dollars going to continue to be i think one of the significant but rare bearish factors on crude oil right now very interesting rocky horror as always just a wealth of information and we think so much appreciate you taking time to be with us have a great evening thank you. and before we go in they technology area magic leap a secretive start up in florida has raised two point three billion dollars for continuing efforts of their augment reality that's a our hologram headset goggles you heard correctly a hologram heads that goggles the product offering is called magic leap one and it's a wearable steam pup looking headset which not only adds holographic three d. projections but sound to ordinary real world settings plus they'll have games for

road ahead as props with competition for road ahead as prof with competition from the likes of apple the company is now taking preorders for the magic leap once at a cost of two thousand two hundred ninety five dollars i don't think i can afford to be that cool at that price but they sure sound interesting. and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always catch us at youtube dot com slash boom bust r.t. will catch you next time. the way to the united states is dangerous for most of the illegal immigrants.

to the most. simple they want to become must not want to last for some just about but if many of them look for refuge in the so-called sentry sites the draft used to share information about undocumented migrants with federal authorities the best person to ask dan. most you know no avail but at the time i get i'm a whole lot less and the more that. they can watch as they all choose to stay in the country with donald trump in the white house over forty couples. those fifty one fifty who can be bribed to do. a said fits travel to many couples won't. deal with the push to political spawn pose both of a few of those of a few of both of the. truths seem wrong. but old rules just don't call. me. yet to shape out these days comes to educate and indeed from an equal betrayal.

when so many find themselves worlds apart we choose to look for common ground. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it's meaningless in the death penalty just because i think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people is terrifying those just know it hasn't been that we hear even many a victim's families want the death penalty to be abolished the reason we have to keep the death penalty here is because that's what murder victim's families what that's going to give them peace that's going to give them justice and we come in and say. not quite you know we've been through this this isn't the way.

we have no idea what safety is doing on the vacation but she will be back on it in september. now to.

top headlines here on r.t. u.n. peacekeepers are set to return to the disputed golden heights off the militants were repelled from the region of syria and israel have been fighting over the resource rich area for decades. more social media bans with facebook removing latin america news trying to from its platform and twitter shutting down the account of right wing groups proud boys on the program i guess this debate whether this amounts to modern day censorship. of one thing could be hate speech here but it's not hate speech over here it does your privilege to be anything to ed to fight hate speech everybody why is no i right right i got it i'm privileged to take a fight racism yeah the only way and what are you and a new political move.