the one hundred closed down also by roughly a point for a look at market health and more we are pleased to be joined by john gray's the founder and president of investors financial corp hey john welcome thank you so much for being here that going to be fun what's driving these global markets do you think. hey john can you hear me what's driving these global markets well interest rates for sure cheap credit for sure the quantitative easing has put us in the place where we are so those are the primary drivers and of course consumer spending that's seventy percent of spending of g.d.p. in the u.s. of a i know what it is elsewhere but that the consumer doesn't spend the markets can't go up because there will be no profits and john in the u.s. market we've seen some very positive earnings report among the program and those are reflected in the markets but you know what do you think is driving sort of these overall buoyant numbers other than the earnings reports what's the underlying line there is the economy just doing better is it tax cuts what do you think.

people earning money and as you know it's expensive to live so people have to spend baby spend so that's good for the economy it's good for the companies and may not be so good for the individual that becomes part of the the equation but as i say it's spend baby spend and everybody's involved in it so far even if your income is not what it used to be it's a strong it may it may be a good income again not as high as it was maybe so maybe ten years ago even for some people but everything is so expensive you got to spend everything every dime you are and it looks like one of the recent reports i read looks like they're not just spending what they earn but they're spending more than what they earn which is a almost a quintessential unfortunately american thing to do how about a trade in tariff tit for tat john most folks assume if things continue like they are that markets will take a dive but i mean let's take the positive look i mean what happens if progress is made what if we you know reach some sort of deal even you know momentarily or

something with canada or other trade deals start falling into place that could be huge for markets and economies right. yes it sure could bard let's come back to dead if we can because it is an interesting point it's kind of the other side of the of the coin but as far as the tariffs are concerned this is very much like the fourth of july yeah you know growing up as a kid it was great fun to go out with the sparklers and the players and and the things that you did to celebrate the fourth of july but i always remember every year being so surprised by someone's home burned being burned to the ground by the people who were celebrating and i mean so what i'm trying to say is this is a game we don't know how it's going to turn out everybody feels that we have the best of intentions but let's just recognize if we go back to nineteen thirty it looks to me as though the event of the smoot hawley act where we imposed forty percent tariffs on twenty thousand incoming goods may have been the tipping for at

that point that place the u.s. going from a serious recession into the great depression is this deja vu all over again only time will tell what will hope for the best and i hope we don't burn the proverbial house down but let's get to your point about the debt you know that not long ago john and use you and i spoke about this on the phone the other day you know i had guessed and i asked about debt and the u.s. debt not the deficit the overall debt what we already oh in large part other nations including china and the guest said that it doesn't matter much it is sort of struck me as weird i will what are your thoughts about debt u.s. debt. well i just saw something yesterday from the c b o congressional business that talked about that the amount of the debt that we're accumulating is moving from seventy eight percent of gross domestic product to one hundred percent starting in the next year or two throughout this next decade when we look at the

amount of debt as a ratio of the gross domestic product we see country after country over in history where as we get north of one hundred percent of debt to g.d.p. they just start coming apart the will start coming off the wagon so this is not a good sign and it looks to me like whether it's the consumer whether it's corporate certainly at the government level everybody is piling on the debt and we all know that works as long as we can make those payments but missed one two or three and now the house of cards starts crumbling down you missed one i think the house of cards start to talk tumbling down everybody will run for the hills but i would to john we had it in our conversation i'd like you to share with our viewers you how do the demographics play into this. it's a great question because it's one of the pieces to the puzzle that nobody's really looking at and if you can put it in perspective the driver to everything when you talk about spending when you talk about growth for in the u.s. of a the u.s.

is the only country in the world where we had an influx of seventy six million people from one thousand nine hundred sixteen one hundred sixty four so if you look at the youngest it might be represented by michelle obama fifty four the oldest would be at the top in those would be those who turn seventy two in twenty eighteen and be our president of the george w. bush that would be bill clinton all turned seventy two so let's just recognize as we get to our late seventy's on average spending just stops other than health care issues so while we might be spending now i don't see how it's going to be highly sustainable as we get to the point where we're typically on average we retire at age sixty three the help a stick happens to come from the u.s. census bureau and research but then we stop working eventually and if your income is going to stop how in the heck can you possibly spend unless this through debt but let's just recognize this is another little interesting piece of the puzzle

that compared to one thousand nine hundred ninety one three times the number of seventy year olds are filing bankruptcy today they were filing bankruptcy back in the early ninety's that's the stunning. john we appreciate you so much being here we hope you'll come back because i'd also like you to share your thoughts particularly as some people may think that u.s. markets are are topping out and maybe they should you know rebalance our portfolios but i'd like to get your thoughts on the future of about active management sort of a responsibility of investors to do more than just follow the lead of some financial advisors i think that's great advice we hope you come back to talk that's john grace the founder and president of investors financial corp thanks john have a great weekend but it's part due to. and now manila chan looks at airports which were once used by

a broad array of consumers now there are some select airports dividing lines and the so-called one percent is getting some super special treatment in places like los angeles london here's manila. the airport was once the great equalizer where the rich the famous the poor and the average all waited in the t.s.a. line to get patted down and have their personal effects rifled through. but now that's all about to change for the one percent luxury is back in a big way ten years after the financial crisis of two thousand and eight and americans are back at it what better way to return to the days of excess and convey your wealth than to bypass the ninety nine percent at the airport and be whisked away to a private suite as you await your commercial flight that's exactly what's happening at l.a.x. and other high profile travel hubs like london and dubai where the rich and famous live travel and play starting at about eight thousand dollars

a year for individual membership the so-called head of state experience at the private suite at l.a.x. can keep the likes of kim kardashian and kanye west away from the prying lenses of the paparazzi and screaming fans the members only terminal won't make you wait in long lines for the t.s.a. customs and border protection or immigration members of the v.i.p. terminal breeze right through because they have private screening in their exclusive area but wait a minute are t.s.a. c.b.p. and ice paid for by everyone's tax dollars how are the private suite members entitled to this private service according to gavin de becker the international security consultant behind the private suite that his company will reimburse agencies for the difference in cost so as not to take any public funding for the added service de becker told the l.a. times that shortly after the announcement of his mentor his company saw more than twelve hundred sign ups for membership almost immediately including lawyers

entertainment executives and media types the website claims that the average traveler going through l.a.x. must walk approximately twenty two hundred steps before finally boarding their flight members of the private suite walk under one hundred modeled after a high end luxury hotels these private suites boast fine wines sure could reply outers cheese is fresh and organic fruits a stocked mini bar and more and if your sweet is missing any of. your favorite creature comforts your private concierge can fetch it for you within airport grounds along with your concierge your head of state experience provides you with eight staffers assigned to you from the moment you enter the facility all the way through until you're escorted off the luxury sedan onto your flight directly onto the tarmac. de becker along with the los angeles world airports the department for the city of los angeles which owns and operates l.a.x. all agree that this was a necessity for the home hub of hollywood celebs claiming that the distraction

celebrities cause when commuting through l.a.x. poses a danger both to the celeb as well as the general public when they're hounded and chased down by paparazzi and require the use of resources like airport police that sounds like a just reason for building such a terminal and certainly by now you must be thinking that this is a growing trend across american airports but you'd be wrong a spokeswoman for reagan national airport and dulles international told me that neither airports had any such facilities for v.i.p.'s nor do they plan on building any dca and dulles both see the likes of real heads of states ambassadors dignitaries and celebrities alike they fly in and out of their premises on a daily basis she said that celebrities and dignitaries all go through the same procedures as the average joe and they do so without causing any disruption to airport service so while the builders of these luxury members only terminals

continue to build them in various outlets across the globe the ninety nine percent can take comfort in knowing that in most airports the one percent are just like the rest of us in washington manila chan r.t. . well the rest of us who use average airport walk more steps there is that and we are fit bits are happier than those who only have to walk a hundred steps to their point that's it for this time you can catch boom bust at you tube dot com boom bust our t. have a great weekend. lose . too much. room a little not enough it would suit rich. people as a levels from somewhere you know. i came back

to the community. people we are based on the you know the road lookouts me all you got is all bible. says. she's going to. receive money doesn't that give us all that. but as you. know we're going to this. it doesn't cut does it also toppi me in my life. i've seen mom have to die. seemed wrong but all wrong just don't call. me lol yet to shape

our disdain comes to educate and indeed from an equal betrayal. when so many find themselves worlds apart we choose to look for common ground.

opposing rallies take the german city of kenneth's by storm triggered by a local man's death and it lead to arrest warrant for the suspects. pre-election polls in sweden show a growing split over migrant numbers as euro skeptic and right wing parties rattle the ruling social democrats. and the power of dialogue washington declassifies hours of conversation between former u.s. and russian president bill clinton and boris yeltsin. this is arch international bringing you your global news update this hour with me welcome to the program. the german city of chemists continues to be hit with far right rallies which have mostly been met with counter protests they started after

a local man was stabbed to death by people the police described as being of various nationalities here's how it all unfolded. liz. liz. liz liz. liz liz. liz .