this is boom bust broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm part children washington thank you so much for joining we're glad you're on board coming up today german chancellor angela merkel is making news today on two fronts hillary for which the australian market standing by to take a look at the latest plus over the weekend president trump spoke about pulling out of yet another agreement this one dealing with nuclear weapons we'll get to the latest as mr trump's national security adviser had a meeting in moscow with his national security counterparts and what should we make of a trumpet ministration poll out of these trade deals environmental treaties and now potentially a nuclear weapons act we'll talk through it with an all star panel plus what could turn out to be the largest oil spill ever maybe fourteen years old and getting

worse with age are to have injured gives us the latest on the debacle in the gulf of mexico and we take a look at women in business around the world and in the u.s. dr jean's they know all of that directly ahead but first we had some headlines let's go. to the drama surrounding the new italian government budget process seems to be moving into the second act as prime minister conti's says he will press forward despite red flags from the european commission and a major credit rating agency on friday moody's investor service took note of mounting uncertainty and seeming instability in the latest mediterranean monetary melodrama downgraded to tell you a sovereign debt to one tear above junk movies also signal they did not expect to downgrade further that assessment came after brussels had again word italian leaders to abandon their camp pain pledges to voters on spending the european commission is pushing you states to keep budget deficits below two percent g.d.p.

for his part the prime minister seemed to fight it here's what he had to say in rome. my leaps. for that is no chains no way to get to the lakes there's no way to get out of zone. and updating a story we brought to you last week there are new developments in the fight between general electric's and siemens for a lucrative contract to upgrade iraq's electricity generation last week u.s. space g e seem to have taken the entire prize from siemens ag in germany but now it appears looks like there will be more business for both corporations in the war torn iraq the german firm says they will contract to build new infrastructure that can generate as much as eleven gigawatts of power that's enough to increase current production by fifty percent overall and sell one point five gigawatts of that yield

to iraq over four years seaman c.e.o. reportedly flew directly to iraq to avoid missing out entirely on this round of iraqi infrastructure upgrades. and chinese leaders are pushing back after u.s. secretary of state might pompei all last week warned latin american leaders of pitfalls of involvement in chinese dollar diplomacy and mexico city the u.s. top diplomat and former director of the central intelligence agency warn latin american leaders that chinese officials may show up with deals that seem too good to be true because they are mr pompei all specifically called the behavior of state owned companies in panama the other country he had visited on the trip as predatory some scholars noted that comments could be applied just as well to the history of u.s. economic innervation in latin america state press outlets china daily relayed the official chinese response laying mr labeling mr pump ailes remarks as quote ignorant and malicious.

and as german chancellor angela merkel is making news today for more we turn to our friend henry ford to see yours trademark welcome hilary my pleasure bob so there's two pieces of news here right the first is that you know there is all this discussion that we've had in the u.s. about whether or not given this history of marcus shogi and his disappearance and killing it appears that we should stop in the u.s. perhaps the arm stale mr trump said no but now enjoy it merkel the german chancellor says no all arms sales from germany to saudi arabia should be on hold this is sort of unexpected what do you make of it hillary well i think what is expected but you're right unexpected this particular move however look at how opera teria situation in germany right now she is not on strong footing she is in the

middle of the brics it on the left and she's on this sort of on the right if you say that and how the party is also very split so she's facing internal tensions within her own party she's facing internal tension within germany so i think this is a very good move to align herself somewhat closer to trump and also take the moral proper ground and the other news out of germany is that the chancellor is now we're willing to open up the country to us gas back in july we did this story about the the second they called the nord stream pipeline there's already one from russia to germany this one's going to take a more direct route now germany seems like they want some u.s. gas and what you make of that one yes is liquefied natural gas and they're actually constructing a huge airport up near hamburg on the northern shore there of germany and i think again this is actually a very smart move because now what she's doing is she's trying to align herself further with trump and further with the west and i think one thing that trump is very right about and that is about pushing for these countries such as germany who

receives nato support a nato protection we were all buying natural gas. from russia so i think it's the right thing for her to do and again i think she's looking jael politically with both of these decisions. excellent thank you so much for that hillary if you won't mind just hang right here for a moment because what your expertise on our next topic too over the weekend president trump spoke about pulling out of yet another agreement and this one deals with nuclear weapons at the one thousand nine hundred seven treaty on intermediate range missiles with russia and today mr trump's national security advisor john bolton was in moscow for a meeting with his counterpart and to promote more on this we're going to bring in steve malzberg conservative t.v. and radio host and in a moment we'll bring back hillary two on that but steve what's the latest from that meeting that took place just a few hours ago. well you know this is something that i'm not surprised.

the united states pulling out of this treaty are threatening to pull out of this treaty and it's with good reason bart and first of all let me let me just say when it comes to trump it's always doomsday it's all we know how could he do this how could he alienate that one how could he threaten this and look look at this story hillary was just talking about with you and merkel now cozying up to the united states i thought that trump insulted the heck out of her that they were mad at us they hated us they were never going to have relations with germany we insulted her well now they're now they're opening up for a natural energy and natural gas trump is a genius when it comes to this stuff so what's going on here is in two thousand and fourteen the obama administration decided that russia was in violation of this treaty that was signed under ronald reagan and gorbachev and the reason is they were developing and they said deploying a missile a missile that goes between three hundred three thousand miles that could hit

europe with little or no notice at all and that's why it's problematic so the obama administration to go she did with russia and nothing happened so trump said just yesterday when he made the announcement that you were talking about i'm surprised obama didn't drop drop out of it back then and you know once they found out there was a problem and nothing was done about it donald trump is not going to sit by and allow people to cheat on treaties again if russia's doing it he says they are and just do nothing there's also another element here donald trump has put the country of china into the mix the u.s. you know having a deal with russia right now and cutting missiles and cutting missile capabilities puts them at a disadvantage with that with china who is our military enemy and i think our biggest military threat so he's now saying we'll go back into this treaty if russia and china acquiesce. come to some kind of agreement so this might be another let's

tear up nafta let's work on a new deal that's what this quote would be all about i want it we're fortunate to have with us our teas i'd worry should. i go or thank you for being with us we were glad to get the connection up and you were covering this over in moscow this meeting what happened what do you take away from it. well in total john bolton had six hours of talks today or so five of them with the head of russia's security council in about an hour of talks with the foreign minister sergei lavrov and now the key outtake from this is john bolton saying that now the united states do have a much better understanding of russia's position on the sign of treaty and that has been that russia has been complying with all the terms they still have their differences and of course john bolton has stressed that the united states would want an even deeper insight into what russia thinks into how russia views this

deal he also revealed that apparently the united states do not have a clear policy on whether or not to stay in the deal they do not have a clear position on that but he stressed that that is said to change in the course of further talks with america's european partners with their asian pardon is and of course with russia in fact when it came to john bolton's discussions with the head of russia's security council they even discussed potential other versions like variants of this deal which is set to expire in two thousand and twenty one so obviously a lot of work still to be done there and now when john bolton with john bolton's visit here to most school trumps and rather harsh and stuck words this promise of withdrawing from the deal doesn't look as such a done thing doesn't look as a totally decided thing and still hopes that the united states has sort of on the fence with it and. hilary i mean what do you make of steve's argument that the

method doesn't matter if you get to the right outcome at the end you buy in that one well actually i think that steve is totally correct and i don't even know that he said that the method isn't so bad i think what it is is just like they said remember reagan's stance which was peace through peace through strength that's exactly what trump is doing and of course we all know that the cold war actually sort of ended because reagan bill top during the whole star wars era he built up our defenses so greatly that russia was able to keep up and i think this is a very strong stance to take mainly because our economy has not been this strong in probably over thirty years maybe forty years and really since the second world war and i think we're in the position enviable of the rest of the world with a thriving economy with a great base of our manufacturing coming back and i think it's the right place and the right time to do this and don't forget treaties are good and treating the wonderful if both sides it here but john bolton has made it very clear that russia

is cheating so if you get one party cheating on a treaty it's no longer a treaty so actually it isn't trump is really ending this treaty the russians that have ended the treaty this is the only way forward and i think the strongest thing actually extremely smart and if obama had done this he would have been held as logical and sensible we're putting our foot down it's just that the media yes is using this as an excuse to create an absolute frenzy and steve i mean what about hillary's point that you know there is if there if the if the russians were abrogating the treaty you know maybe the u.s. has a point but look these treaties are set up with dispute resolution mechanism and the u.s. steve has not to my knowledge said anything gone to this dispute resolution and now kay bailey hutchison our ambassador at nato says well we can get rid of these missiles that are in violation we'll shoot them well heck that means war. i mean who are these diplomats or are these just bullies what are your take c yeah well

she said that that russia has been put on notice she said that in brussels at the beginning of october right before a nato ministers meeting talking about the russian missiles that we believe to be in violation of the treaty you know i guess the bluster i think both sides bluster but i will admit that under donald trump and his administration it seems like there's a lot more bluster but again so far it is yielded results in other areas and i don't think there's a threat of war over this by any means i think the united states is just flexing its muscles and saying all right if you're going to develop those then we're we're going to develop ours i don't think anybody is seriously considering shooting at anybody yeah i just don't like all the talk we did it with kim jong un you know we've talked about fire and fury i mean come on these are supposed to be an adult i got let me ask you what is the next step here over there in moscow or someplace else what do you think is the next part of the story. for the next part of the

story is john bolton meeting with vladimir putin tomorrow and she used to be here so that that's will be from where a big things could indeed come out but also what we have to remember is that the united states will have to hold a lot of two weeks with its european partners because they actually feels threatened by the design apparent design of the trump has shown to pull out of the deal see the thing is some military experts see this deal as very one sided and tipping in the favor of the united states because back in the day when the united states and then soviet union the kind of brokered the deal it was very much. just to cut the long story short it did impaired the soviet union's and now russia's ability to expand its its military and want to deploy missiles that had that the soviet union used to intimidate europe and in turn in its own to unite. and states did not make concessions of the same scale so to speak i would i don't

want to go into too much detail because this could really take up the rest of the program time but that's what some military experts are saying and we've already heard some worry some reactions coming out of europe for example the french president of an oil mccraw now has said that well the i.n.f. treaty is key to european stability and he's he wasn't the only voice in the choir he was he was backed by his other partners by the european union as a whole body also coming not just from europe but coming from asia japan has said that while the deal is should really stay in place china has any unilateral action on behalf of the united states on behalf of washington will spark a multilateral chain reaction in the fact i think one of the few countries that did support trungpa with these words was or was the was the united kingdom right what we thank you so much and i got to thank you for staying up late we know it's late

moscow that's already correspondent i guarded on of conservative here radio commentators the bowler and our friend see off dr markel reportage thanks to you all. and it's time now for a quick break but hang here because when we return to our tease saya tab and your give us the latest on that fourteen year old oil leak that could become the largest oil spill ever it's getting worse with age dr jean needs a note joins us to take a look at women in business around the world as we go to break here are the numbers at the closing bell back in a place. where

you. just read the fine. business models. and investigative documentary.

welcome back tesla c.e.o. it on musk has a number of businesses and one of them the sarcastically named boring company it's our i n g a peer is nearing completion of a tunnel from hawthorne to los angeles california when completed it could carry passengers on high speed rail traveling up to one hundred fifty miles per hour as the crow flies that hawthorn is only eleven miles between that and los angeles some viewers outside the u.s. make the underwhelmed by that speed one hundred fifty miles per hour as u.s. legs behind a number of many other nations and high speed rail and infrastructure in general mr must announce the project previously designated a test is now nearly complete the twitter of course on sunday evening and predicted passengers could be writing from the property of another must company space x.

as soon as december tenth industry observers has learned to take mr must tweet with a grain if not a shovel full of salt and if you expect anything to happen online that soon tesla board is also where only watching their c.e.o.'s he hypes yet another project aside from meeting tesla's promised car production goals. an oil spill that's been quietly leaking millions of barrels of oil into the gulf of mexico now verges on becoming one of the worst offshore disasters in u.s. history joining us to discuss this are two producers so we thank you for being here you're covered these sorts of oil and gas thanks for years and we you know i thought when i was back in the day before you were born exxon valdez that was going to be the worst thing and then we saw deepwater horizon but then i wake up and there is this breaking news today about this oil spill that's been going on since two thousand and four what do we know that's correct not many people have heard of

this spill and the biggest spill until now have been the deepwater horizon exxon valdez like you said and taylor energy spill is a largely unknown outside of louisiana because of the company's efforts to keep it a secret and the reason that they try to keep it secret is because they said it was they were trying to protect their reputation and their proper terry information but as it turns out taylor energy has been quietly leaking oil off the coast of louisiana for fourteen years now and now according to a new report by the washington post it threatens to overtake the deepwater horizon spill as the biggest offshore disaster and now it estimates that about ten thousand to thirty thousand gallons of oil will is leaking now into the gulf of mexico from the spill. and so how did this happen it's an old good and old well or something that's leaking well in two thousand and four when hurricane ivan slammed into the gulf of mexico it created an underwater mudslide that collapsed one of taylor

energy's oil platforms and the platform fell about four hundred fifty feet deep of water twelve miles off the coast of louisiana and it broke the casings of one of the twenty wells connected to it now although the company did try to contain the leak and actually did plug. none of the wells the month slide made very very difficult and traditional tactics to kind of stop this oil from being spilled it didn't work so these wells have just kept leaking and unless it's plug the leak will continue for the next century or until the underground reservoir is finally depleted now bar in fact the broken wells are released things so much oil that researchers need to respirators just to study them it. this was huge and i want to get to the last question as we ask you about how much do we know about what the damage that's been done i assume a lot of this is actually under water you were telling me earlier north of three

hundred thousand gallons of crude spilled each year what more do we know well first of out even just how is this kind of the deal that they made to clean up this spill they made a deal with the government and put it aside six hundred sixty million dollars for the spill and in the operation it hired contractors to somehow located the wells thing kept them but they were kind of forbidden from drilling to the mop for fear that they would strike a new pipe or well so he would risk the kind of catastrophe on the scale of the b.p. disaster just a few miles south now at taylor energy did spend a fortune to plug the platform from the ocean and eventually plug about a third of the wells but no matter what they did the oil just kept leaking now what's really interesting now is that it's trying to walk away from disaster the company now is trying to sue the interior department in federal courts and it's asking for the return of four hundred fifty million dollars left in the trust we

want to have you back to tell us more and keep us updated on a spat so i tell the jury who was our energy expert producer here at r.t. america thank you so i appreciate it. i. and now we shift to take a look at the inclusion of women in business in the u.s. and around the world to help us out we are pleased to be joined by dr judy zunino who is the head of research and consulting firm applied tech nomics and a professor of government international studies at iona college dr thanks so much for being with us looking forward to this for a few days women have made such a lot of progress in business but of course more needs to be done set the stage for us first of all in the u.s. how are women and women doing in business. it's great to be here and it's such an important conversation so thank you for having me in terms of the u.s. just as an example there are so many statistics we could share but if you look at

the fortune five hundred companies only five percent of those are headed by a female c.e.o. in twenty eighteen and of course women make up well over half of the population you look at boards in the united states that the fortune five hundred and you're looking at about twelve percent of the boards include women so that is an increase from two thousand when we started keeping much of this data but as you can tell we still have a long way to go and it's not just the u.s. we have seen improvements across the world but there's still again a long way to go to achieve parity and what we try to talk about is not just parity for parity sake because it's the right thing to do but it's parity because it is smart business practice and that's really the message that we want to get out there the data shows when businesses invest in women and they invest in diversity as a whole they do better on the bottom line. let's talk a little bit about international the dr you look at the global work workforce i

mean it's a big big planet out there but you know women are still not treated as equals what do we know well it there is you know you see really disparate statistics out there some parts of the world are doing better than others so we're still facing a lot of challenges worldwide when you look at total countries overall and again some doing better than others you look at places like north africa for instance south asia they tend to be on the lower end of the spectrum when it comes to issues involving female equality in the workplace that's everything from ownership of companies all the way through to the number of women they have in their companies and again we're seeing improvements worldwide but the improvements need to happen faster and that's really what we try to focus on at the consulting firm i work with a t. we just start with try to focus on how do you help corporations diversify from

a gender perspective and do it in a way that makes both sense to their bottom line which is obviously key to them and should be and also makes sense and is respectful of the people already in the corporation because one of the things we also know is that when change comes from the top down only you could have really challenging issues at the bottom level in terms of a lack of a cultural shift that needs to take place as well and dr just real quick i mean and you sort of covered it there a little bit but if you had to take like continents and say where needs to be the most improvement are you pretty much looking at asia which is lower and when you look at the data. yeah we're looking at north africa asia to its certain extent parts of the middle east as well but i hate to just target those areas because quite frankly we can all do much better but those would be the three areas i would say are have the biggest challenges on their hands would be north africa south asia

and the middle east and so those are the areas that seem data wise to need the most and to need the most improvement but again in the united states as we just talked about we can do much much better five percent of c.e.o.'s in fortune five hundred is not a good place for the united states to be when it comes to achieving gender equity it's certainly not and one of the ways we can try to help improve that is talking about it and that's why we're so appreciative dr that you're here and i by the way i understand there's a symposium on equality that's coming up that you're part of on holloway in a lot over thirty first and in the big apple in new york we wish you great luck with that and thank you for being on the show that's dr jeannie zeno head of research at applied tech nomics and professor of government iona college i want to collar you i want to call it thank you dr appreciate it. and that's it for this time thanks for being with us for you guys to you can catch boom bust on you tube dot com slash boom bust artie catch another time.

cranking gave americans a lot of new job opportunities i needed to come up here to make some money like me twenty five thousand dollars as a teacher or i can make fifty thousand dollars truck so it shows that there are people who rush to a small town in north dakota was i'm unemployed and rate of zero percent is like the gold rush is very very similar to the gold rush but this beautiful story. with pollution and devastation a lot of people have left here i don't know too many people here slow down so much they lost their jobs that laid off the american dream is changing that's not what it used to be. it's a tough reality that. i

did the war planning for the principle force provider command in the united states military for years i've worked on this region for years i do not understand this saudi arabia is the greatest state sponsor of terrorism in the world still today and yet we all here on that we lie when we say that we write blatantly lie when we say that moreover we know we're lying. because of the things you look at. you know that is the most serious media you can

be funny you cannot set people to. believe we're going to. be. in an attempt to turn up the pressure on america rivals donald trump says he will expand his country's nuclear arsenal. has not here in the agreement should have been done years ago but still people come to this and will build it up. the u.s. president earlier announced of that washington intends to pull out of the clean nuclear. provoking a mixed reaction from european. saudi arabia admits journalist. was murdered in its. international pressure grows washington. measures saying any talk of sanctions is premature.