and strong as we see our franchisees building new stores are 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 only 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 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 about 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 their decline is 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 have 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 sardine pizza so anything that you can put on a crust with some matzah relishes 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 tell us about it it seems almost obvious that you have very simple substance you have all 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 and 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 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 if 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 is monsoreau as for that for the pizza 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 wreck 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. i 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 trouble 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 here 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 not called the australian security 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 things factor banks and there should be a bit of a warning below anybody who knows there are economic history because of one stage non of the world's ten biggest banks which happen a's it was just before the bursting of that bubble back anon saying you phosphors now. none of the world's top banks and. i think the thing that banks make up things like about being across the

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 whine and signed by the banks might do and then after that you stop getting into a lot of. smaller capitalization because fundamentally it's banks anonymous i want to pick up on the capitalization and 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 half trillion dollars which is about a list than a trillion american dollars and to give you an idea of how that compares the size of the economy america's it 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 shares there isn't a strategist guys it's about haas that point seven five now that's not to say the

destroyer is is undervalued is more to say that the u.n. out of sites is the value because if you take a look at the american stock exchange it's been on a chair up with sometimes of its share share values and proselytes rushes at the 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 might well go up compared to the american if it's on. 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 is to them they trade bonds except for so it's more than just dokic danged they're trading what metals at energies and those sorts of products. oh you didn't 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 markets it is a much much logical argument much much larger volatility small the volatility good larger 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 the oil and gold and all those you know big physical physical products let me ask you a s x i know i 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 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 electrons malaki to work on stock markets this is money frankly because the the gold bugs who invented 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 in terms 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 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 the top of the university and that writes a stretch 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 it has the nickname of houses in olds he says if you take out the houses in the holes almost nothing list of the australian economy oh my gosh so i mean is it i mean 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 strays

on a classic job of maka tossing or shouldn't be maka tas and actually having the hottest in g. process virtually in the world which of course is on the cutting and you tend to get manufacturing going there one small so it's been to do in the 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 the strain economy but we've got lots of smart people who are educated australia and we appreciate the high intellect that you bring to boom bust steve kane 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 training published untangle oil prices and a major move being made in the energy sector we're back in a. that's

a very rough her surrender so it's rough climates and you have to win fights to get a bunch of them in the flank. it was gunshots on top them and so many friends ok what happened in the morning and i'm in and you know not. don't make a lot of back up boy you know i don't want to see a better body in this world and is ready to participate in the good. old to live good to meet him and if. you don't think about this leave this old coat on you've got three team played here and you know another patient.

join me every thursday on the alex simon show and i'll be speaking to a guest of the world of politics sport this list i'm showbusiness i'll see that. finally the non-surgical you can't ever live now because of the little town down to the fine. line you feel you wouldn't be that easy to find

a town that out and you may. leave your purse is said can you see. people on the moon if you. look at i think it might have been my little bit of a wonderful not that i don't know but that i accept that i don't mind going to know god like a little to wait for tomorrow not to get it but. this is monday. june. borders of the. seas. you're going to look over.

welcome back we've spoken about scooter is an urban areas many times on the program companies are flush with cash and dropping thousands of students off and urban areas all over the world but now some cities aren't having it companies like loam and bird rides are now about to be handed new rules and regulations to deal with their businesses in denver the scene of the city's even impounding roughly three hundred such hooters and in miami florida in portland oregon the wall street journal reports that cities have kept the number of students to a few hundred each bird in one 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 left are 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 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 culprits involved in such matters and while the number of cases are on the rise some of complain that f.c. is more lax than in the past citing figures which show actual fines for a 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 in a reversal from opec from what opec the organization. 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 being 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 and 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 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. barry 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 know you mentioned venezuela which is a great point but as well as 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 that we need to see a whole lot more permanent 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 why the u.s. has asked it's best for us it's best for them and i don't see who loses in that person 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 would try and do broker for an odd couple of decades of 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 but 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 the 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 we have 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 r hologram headset goggles you heard correctly a hologram heads that goggles the product offering is called magic leap one and is 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 magically road ahead as proud 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 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. we'll catch you next hour. the way to the united states is dangerous for most of the illegal immigrants. to the most. simple they want to be. honest about it but many of them look for refuge in the so-called sentry sites the drug use to share information about undocumented migrants with federal authorities. than. most you know know. that. they have.

to stay in the country with donald trump in the white house. i said sit. up with him put impulse response both of you up with approval of the. we have no idea what safe he's doing on vacation but she will be back on air in september. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer and it means to lose 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 the is just new leader hasn't been there we're even many victims' families want the death penalty to be abolished the reason we have to keep the death penalty here is because that's what murder victims' families want to that's going to give them peace that's going to give them justice and we come in and say. not quite enough we've been through this this isn't the way. seemed wrong why don't we all just all. the world to get to shape out this thing comes to advocate and engagement equals betrayal. when so many find themselves worlds apart. just to look for common ground.

the security crisis in afghanistan worsens as a suicide bomb attack in the capital claims the lives of at least forty eight civilians and it comes after a taliban attack on their security base on the same day reportedly killing forty five. also this the right wing group the pride boys becomes the latest victim of twist his crusade against hate speech i guess debate whether this now amounts to more censorship. how come one thing could be hate speech here but it's not a hate speech over here it to your privilege weeping into ed to fight hate speech everyone is so i right right i got it i'm privileged and i can't fight racism here the only one of you. un peacekeepers is set to return to the disputed go than heights after minute since the repelled from the region.