cut taxes your definitions are going to go up so in both cases that's what causes the deficit it's both increased spending and tax cuts which results in less revenue so you just have less to spend and it really depends i mean even if you take professor spending that doesn't mean that that spending might somehow raise some revenues or at least may have some other positive effect that would. ultimately raise revenue you hire a bunch of people for infrastructure and they get jobs and those jobs they pay taxes on the wages that they get you know it may not happen right away and it may not be you know equal apples to apples thing and the same with tax cuts right i mean tax cuts could ultimately reduce the deficit if they work if they work part that's the sixty four dollar question will they work now we see the tax cuts in the short term have created growth in the economy there's no question about that but in the long term we just don't know and the economists do disagree on the effect of tax cuts in the long term and whether this will actually increase revenues

sufficiently to offset the cuts so you'll have sufficient money to spend well we'll cross our fingers and hope that it actually does result in that now all we know for sure is it's cost a lot of money but maybe to work out for the positive so we're happy about that let's move over to the e.u. and i was just struck because some of the news out breaking today is really a tale of two strategies with regard to the budget deficit on the one hand you have a french president mccrone who is being criticized by the largest employers unions president employees union president saying that president mccrone has not cut the deficit enough like he said he was going to in the last presidential campaign and they need to do so what do you make of that one well that is odd in my view because fifty six percent of the g.d.p. of france is attributable directly to french government spending so to come.

spending in france would result in a serious impact upon their economy that said again as we said earlier if they can cut the spending and generate more hiring and have more revenue to spend on other effects then perhaps it will work but i was puzzled by that one because for a labor union to suggest that you need to cut spending rather than raise taxes i found it was sort of odd to hear that from labor usually one wanting spending on either programs that help their members or programs that like i was mentioning infrastructure earlier that create jobs for their members so i was struck by it too but i'm so glad that you said the g.d.p. ratio to the deficit because it actually is a big part of it in this case and the spending for better or worse it does help to growth growth. either from government spending or tax cuts that give rise to more money in the private hands to create the spending there that's the long term issue and this week we have the finance minister for italy sort of the other tale of

these two strategies on deficit who is to release the budget for the next year giovanni tria and the call there is for mr trius to increase spending to accommodate the president sergio terrelle as promises that he made in the presidential campaign and italy's already on a rough and rocky road with their economy right they certainly are and it's very interesting to see they're going into a stand a campaign political campaign and so to cut spending there will be very interesting to see in fact italy has declared they're going to increase spending which is very interesting insofar as it runs against e.u. debt limits the e.u. has very strict rules about debt limits they're not being more or less than three percent of g.d.p. so we have to wait and see whether that. says they're going to care more about italians and they're going to care about the e.u. so they're going to increase spending. i think for political reasons as well so

interesting before we let you go professor i wanted to circle back on a matter that we talked about once every maybe twice and that is something that i assume is not going to happen but i quite frankly have not paid a super lot of attention recently and that is the trumpet ministrations proffer to try and reduce taxes yet again go in no place faster is there anything new you gotta do no place fast tax reform to they're calling it and the house is going to take that provision up i think this week or next but needless to say it's not going to gain weight of the senate we're going in the midterm elections we know what's going on there absolute the midterm elections coming up in november possible that the house could change from democrat to republican hands who knows we'll have to have to see but very hopeful thank you so much professor thank great to see good to see you. and not long ago we took a look at the french stock index that cac today we look at the german dax here's

our t. correspondent peter oliver from berlin. the dax is germany's blue chip stock market index and amongst the global names listed there are the likes of siemens the fama suit tical and chemicals giant by the automotive international daimler group they're the guys that bring you miss eighty s how does that look right now that's been affected by a ten point plus drop in the indicator of economic sentiment well what that gives an indication of is the opinions of economic columnists sound of analysts of how they think things are going to pan out and it's not making good reading at the moment ten points plus down it is however better than the thirteen point drop that was predicted now this drop in this that he did it didn't affect the currency markets we see it we saw the dollar in the euro trade relatively as they had before

however it was the dax that took a hit and in fact any type of recovery of those numbers has been incredibly sluggish as germany's stock exchange is being slow to recover. and we thank peter oliver for that report and as he mentioned a few of the largest stocks traded on the dax there's a little more on those siemens a german technology engineering multinational started off the year your seventy dollars per share but is down to about sixty four dollars in trading today and buyer bear the drug maker and newish owner of troubled one santo which we've spoken about related to their weed killer problems has seen a decline as we might expect in stock prices this year especially following that ruling which awarded two hundred eighty nine million dollars to a plaintiff in california who said his cancer was caused by a month's santo's weedkiller the stock went from just over thirty dollars in january to just above twenty two dollars in trading today and dimer agency which

owns among other things british sadie's benz has faced some troubled times related to admission. scandal that expanded to other automakers outside of the first both swag and including don't work at the start of the year dime or stock was roughly eighty two dollars per share but it has dropped also to sixty six dollars in trading today. a meeting of policymakers from the organization of petroleum exporting countries and select group of non opec allies and stakeholders russia most notable in that second category concluded without any action to increase supply and lower prices the defacto decision to take no action came after u.s. president donald trump demanded action to lower prices via his favorite method of communication twitter mr trump's online shouting seems not to have swayed anybody at the meeting though the saudi oil minister tried to move the issue of the ministers in action saying quote since june saudi arabia has met the demand for every barrel that has been requested the minister seems to have protested perhaps

too much when he said flatly i did not influence prices. and time now for a quick break but hang here because when we return after the weekend auction comcast is purchasing use case i will look at comcast as the energy and ask our friend steve malzberg and lionel of why and all media what the future holds plus i'll tell you about some curious crypto news out of india and italy which show the nations are headed in decisively different directions as we go to break here are those numbers at the closing bell. i. joined me everything on the alex salmond show and i'll be speaking to guests of the

world of politics well. i'm show business i'll see you then. you know world of big. law and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door. and 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 we're watching closely watching the hawks. it's hard to imagine decades after the war a nazi doctor was still active and rich in a nineteen seventies crittle had as the chair of its board a man convicted of mass murder and slavery at ashwood

a german company developed. a drug that was promoted as completely safe even during pregnancy. it turned out to have terrible side effects what has happened to my baby anything. you know she said is just. mimics a little mind victims i have to this day received no compensation they never apologized for the suffering that not only want the money i want the revenge. and. welcome back the government of indian prime minister narendra modi is having trouble procuring three dozen new fighter jets opening a rift with france and

a window for a u.s. plane may. boeing that is to push for changes in indian procurement policies for president mannion mccrone angered indian officials when he suggested that official pressure had been used to coerce french just made jet maker decide into doing business with troubled tycoon bonnie the charge set off a predictable political storm in india given the important role of corruption as a political cudgel used by president modi is party the b j p against the congress party and through the president of boeing in india who has called for india to weaken its procurement policies that require inclusion of in country companies as partners these so-called offset program critics have suggested the offset program can create corrupt arrangements such as the one alleged by president mccrone. and sticking with india jet airways of india is writing currents of increasing

financial turbulence this week that carrier owned and founded in one nine hundred ninety three has been hit by unfortunate headlines recently after jet airways crews failure to properly pressurized a flight from mumbai which left passengers bleeding from their ears and nose a messy report seems to punctuate a series of setbacks for jet perhaps the most serious news coming early last month when the directorate of civil aviation declared that they would audit jets books later jet announced its second quarter of losses after the initial release of the report was delayed in twenty eighteen jet was denied a bid to merge with a subsidiary and did not muster an attempt to bid for air india reports are that the indian government is now concerned enough to measure which could lift jet including a cut in jet fuel prices and aircraft servicing taxes as well as more generous credit are being considered considered to help. and we now move to that media

auction over the weekend that we told you about last time where comcast a twenty first century. fox were bidding to own telecom and broadcasting giant sky u.k. sky is the largest of the u.k. pay t.v. companies and comcast has one although some might question if it is a way to cost the thirty nine billion dollars here to help us understand a little more about comcast and which some outside of the united states and some within the states might not be aware of and the future of what holds for both the company's line of lionel media conservative t.v. and radio commentator steve malzberg gentlemen welcome thanks for being here ally and first let's start with you tell us a little bit give us sort of the fifty cent tour of comcast a big deal here in the u.s. people may not know outside of the u.s. tell us a little. comcast is the second largest cable in broadband company here in the in the u.s. it owns a number of the forty states or so a lot of the fifty has a number of o t t programs over the. programs and devices and the like it

also by the way owns n.b.c. universal and b c m s n b c it has a news footprint as well but it's looking to go elsewhere because the bottom line is that everybody else will tell you the bottom line is going to be subscribers and subscriber platforms and especially when we have a cut the cord mentality in this country they have to either diversify or perish in arrest and steve we spoke about this on friday about the auction before it occurred now that comcast has won. the bid thirty nine billion bucks are they going to really be hands on are they going to go and pretend they know what's going on and europe what do you think. well if you listen to brian roberts the head man at comcast he says that sky will operate independently me with the backing i get all choked up when i say these kinds of figures with the backing of

a one hundred fifty billion dollars company which is comcast he pointed out that all their businesses he likes the leaders to act independently he favors entrepreneurism and also he favors the spirit i should say and the fact that everybody has their own input and decentralization is an important part of the company i have to field and by the way he also speculate that the head of sky will remain on so all these statements and actions do indicate that sky will maintain a great deal of independence but because as lionel correctly pointed out obviously owning n.b.c. universal and being that it's such an important get for comcast for the future of n.b.c. going forward i can't help but think and call me a skeptic that they will you know have their hands and noses and faces in there and rightfully so to an extent because it's not just another business it is key to

a big part of their business surviving and going forward and lionel tell us about that key tell us about the footprint of you know i noted in our opening that they were the largest pay t.v. in the u.k. but they're more than that tell us more. well again keep in mind that the future right now you know in the old days it was content content content and who are your stars and what are your programs and what is your fall line up today it's how many subscribers you have where are you with about twenty five million new individuals including europe and italy in the u.k. and ireland and that but also interestingly enough what some people are saying is they're finding that the regulatory bases and the regulatory labyrinth that they have to deal with in europe is far less cumbersome than problematic than a lot of the regulatory problems here with antitrust and the like so honestly it might provide less of an administrative quagmire but as i said and i'm repeating

myself the bottom line is going to be non this is fairly holdings but how many subscribers do you have where do you have this is the future not theaters nice going to be tabletop is going to be is going to be a laptop it's going to be computers how many people and cable companies are the problem telecom companies like a t.n.t. their number one that already bill did so with subscribers subscribers subscribers that's that's the the methodology yeah absolutely and steve we spoke in the past when there's a bidding war was going on and that twenty first century fox which is now owned by does the that does the own so i think you told us thirty nine percent of sky so it's a minority but it's still thirty nine percent that's a pretty big deal so we assume that comcast once that thirty nine percent or does the ones to keep it there what do you make of it well i believe comcast wants it

desperately they don't want to deal with disney i don't think they're they're friendly with disney i don't think that the robertson and bob iger a best of buddies after they went through the bidding war for fox were by the way uyghur i believe think said comcast drove that price that disney had to pay over. seventy billion for fox even though they maybe had no intention of going through with it. so here's here's what's going to happen with the thirty nine percent because comcast made the bid so high as you pointed out almost forty billion dollars there thirty nine percent of sky disney's thirty nine percent of sky is now worth fifteen billion dollars at that offering so some say disney's going to cash out take the fifteen billion and pay down some of that debt that they incurred for the fox deal others say that maybe they'll just stay in it and ride and see what you know what sky could do for them it's a joy all that and the crown that that i wanted but doesn't have one other footnote here five may one of the caviar at disney owns now because

a fox by buying fox sixty percent of hulu comcast owns thirty eight hundred ten so there might be a swap in the offing here which doesn't even get total control ninety percent of hulu but i know you view that as a possibility. oh absolutely and by the way one more editorial note the guy who came out aces is murdoch i mean he was he is doing terrific because now all of a sudden his skype because remember skype skype shares one up comcast went down this morning the first the first few ports were that this is a boon comcast was up as soon as they looked around as it went it did you just over a this what was the purpose of this that also did a switcheroo look at how murdoch always ends up ahead of this and remember what are we talking about hulu new platforms new subscriber bases it will be a switch one where the other and there certainly is steve says no love lost between

comcast and mr iger not at the line a resume went up over two percent today as well so they lost but at least in the short term disney might have won as well you know i was looking as i'm glad you mentioned the stock price both of you because i was up looking over the last five days if you look at comcast it would be down but i say well that's five days you know what is it today what is it after the auction still down just a little not a lot but still down so i think a lot of you are a lot of these concerns are right and you know did steve do you think they may have overpaid for this thing but it's incredible when this bidding war started in two thousand and sixteen since that point to the final forty billion dollars of a bit of offer if the price is more than doubled their share price is more than double the offer double i mean it's incredible how does a company like sky's value double in two years when basically it's offering the same product so yeah and i think disney played a hand in that because in the bit in the betting comcast paid ten percent more than

disney's highest bid so i think either smiling all the way to the bank right now and lionel finally is also going to go right ahead. you know it's interesting because both sides accuse others you know when this thing first started off. comcast is being played as the genius by playing this couple blanket chess move by forcing uyghur to to to overbid and that say ok fine it's yours that he stuck with ha ha now it's switched all of a sudden now comcast says we want sky and uyghur sits back so sky comcast looks like it loses so in the long run what the street is saying is it's a wash sure and maybe too much it may be over but not only over leverage as well but in the long run who knows but both of them were both guilty and the recipients of this particular move boy thank you so much guys appreciate it steve malzberg and

why i know of why and all media we appreciate your time thank you bar thank you. and before we go we check in with crypto says india's central bank the reserve bank of india has told the supreme court that not only will they prohibit the use of crypto currencies but that their ruling should not be challenged by businesses we'll keep an eye on that which is pretty interesting for the fastest growing economy in the world. and in a tell you news today i fand token cryptocurrency will be offered by the juve's ball club that's the football or soccer team that both star player christan e o. naldo rather the team has one of the largest fan bases of any team in the world and a massive social presence the tokens will be tradeable and will be offered on the socio us platform that's a crowd management block chain text lab platform which is seeking to monetize the sport it remains unclear if the token will go through

a traditional ishall point offering and i.c.a.o. to raise funds but the concept of sports block chain encrypt those is not only interesting but could be a great goal for all of sports and that's it for this time thanks for watching you can catch boom bust on directv channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always catches that you tube dot com slash boom bust r.t. so long for now. not actually distances leaks lawrence leak out to.

you would you. put some good things to present to. supplant. just show. the high frequency trading game it's all about speed look at goldman sachs could figure out a way to go backwards in time and steal money from trades in the history they would

do it but the second best option is to just increase the speed in the here and now to steal at or much rapid pace. it's hard to imagine decades after the war a nazi don't you was still active rich in the nineteen seventies cretonne had as the chair of its board a man convicted of mass murder and slavery. a german company develops a little drug that was promoted as completely safe even during pregnancy it turned out of terrible side effects what has happened to my baby is anything paul you know she said is just good choice minix a little mind victims i have to this day received no compensation they never apologized for the suffering they. not only want the money i want the revenge.

so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race off and spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical time to use. sit down and talk. and that it through this guy like he acted like i. had to get that. dead.

and that to the money at the when the money we could. get it. didn't get the money that is out there who it is how much of the island i think i found out of months and that a lot about how the now growing so aren't i meant but i don't get to. see them out of them out so out of a lot of i'm not a model you fool. but that was out of my depth and i could see it as i asked by the two really. good that they did. about the side up and after. days of advice. about.