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tv   Boom Bust  RT  November 21, 2018 7:30pm-8:00pm EST

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leading today's global report the us china and a number of other countries are taking their tangle of trade grievances to court at the world trade organization in a remarkable development the u.s. has officially confirmed they wish to pursue cases in the w t o process against china as well as canada and the european union meanwhile the a you canada china russia mexico and norway have all given green lights to w t o litigation against the united states turkey is expected to follow suit soon earlier today the fight kicked off in geneva as u.s. ambassador dennis shay fired accusations of hypocrisy and abuse of the w t o china mr sharon. chinese counterpart shot back with a reminder that the u.s. is still not in compliance with a two thousand and four w t o ruling against the u.s. on intellectual property the irony of the issue is that intellectual property has
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topped the u.s. is list of grievances against china what a mess. and in other news on the continuing impact of trade conflicts on the global economy the organization for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living standards the o.e.c.d. s estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago in understood but clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just abated financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past. two years
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particularly in asia the paris space analysis also downgraded forecasts for china for this year and through twenty twenty when the o.e.c.d. now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and are right there rotting for lack of chinese buyers the bottleneck is now reportedly pushing up prices for grain storage and some u.s. farmers have found that it simply better to plow their harvest under its least costly choice for many of them in the state of louisiana as much as fifteen percent of this year's oil seed crop will be plowed under or otherwise disposed off due to the demand drop off as well as saw the growing season that damage much of the yield according to the agriculture department. and moving to the mediterranean the european commission has responded to a tally and defiance on the twenty one thousand budget issues by pursuing an
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excessive debt procedure and e.t.p. we've told you about before against the wobbly nation led by an increasingly fractious coalition government sanctions under the g.d.p. could include among other painful punishment fines of as much as point two percent of g.d.p. prime minister goosestep a conti of the five star movement and deputy prime minister material salvi of the far right league made a defiant show of unity for both coalition partners valent to push forward with their current budget plans. last week molly barrows joined us and told us about the president about president donald trump's regional administrator for the southeast region of the environmental protection agency who was indicted he was indicted for crying out loud. on ethics
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related charge and that fellow has fortunately resigned from his government post unfortunately there may be other sequels in this story is not the only instance of those with involving protecting the environment seem to be not doing their jobs for more we're joined by tyson close slocum of public citizen tongue tied there tyson sorry about it welcome back and first can we get your take on trade glenn the fellow who was indicted and has now i fortunately for my perspective resigned from the trump of ministrations e.p.a. yeah so it's part of this long running investigation down in alabama where a bunch of lobbyists and lawyers for a coal company colluded with regulators to try and get this coal company out from under this pollution enforcement case it's netted a bunch of other lobbyists and lawyers and now it's got trade glenn and you know the thing is you know this individual was put into this position to basically
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run the e.p.a. in the southeastern u.s. states. by the former e.p.a. administrator scott pruitt who really emphasized putting lobbyists and other folks from industry indicate he enforcement positions at the e.p.a. and that was exactly what this se administrator who was just indicted that was his background his background was working as a lobbyist for industry and so it's really not that much of a shock when lobbyists for industry and up getting indicted. even you know tyson i mean you've watched this over the years that i haven't and i know a lot of boom busters around the world have. when you it's one thing to say we're going to put some industry people in here and they're either going to be you know the foxes guarding the chicken house that happens it stinks no good hate it argue
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against it thank gosh there's people like you who fight against it but not properly vetting people people who are involved in criminal acts that takes it to another level and these folks have to actually be approved by the u.s. senate which brings us to andrew wheeler he's selected as scott pruitt's replacement at the where is that and what do we know about mr pruitt right so mr andrew wheeler trump installed him as the number two at e.p.a. back in two thousand and seventeen so he was the deputy administrator and after scott pruitt was forced to resign in july of two thousand eight hundred to scrapes andrew weil or ascended to become the acting administrator and just last week. the president trump nominated wheeler to be. you know to be to formally be the full time administrator and so andrew wheeler before he became deputy
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administrator he was a lobbyist and we have been monitoring mr wheeler's activities for quite some time there are documents showing that he was the one that was being paid by murray energy who c.e.o. is bob murray one of the largest private coal companies in the country that has had an outsized influence over trumpet ministration policy this is the company that was pushing to rewrite america's energy markets in order to favor an economic coal fired power plants this key meeting that happened in march two thousand and seven team. where bob murray got to meet face to face with secretary of energy rick perry the e-mails that we've gotten all show that the meeting was arranged and set up and attended by andrew wheeler who was then the lobbyist who was representing bob murray and so that's just one of many examples of the kind of influence that andrew
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wheeler had over the trumpet ministration and now he's he's you know running the e.p.a. and so the question is is the senate going to do its job of effective oversight and unfortunately with republicans in control of the senate the same party as the trumpet administration they've shown no appetite whatsoever for effective oversight but with the democrats taking over the house we've got significant pledges particularly by representative frank pallone who is the incoming chairman of the house energy and commerce committee he's going to be pursuing aggressive oversight and so even though the house of representatives under a constitution doesn't play a direct role in reviewing or consenting to appointees i think you're going to see some really strong oversight by the house that might influence that senate confirmation process we sure hope so and we hope to come back
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to talk about environmental policies and how it's impacting business going to next year tyson slocum of public citizen thanks so much for your time expertise tyson see later you got it. with those horrific fires in california many people whose homes were lost are now struggling to deal with insurance companies for a closer look at the root realities here's our t. correspondent the taj suite here you can see about half of this mobile home park was destroyed by the wealthy fire and now building back what they lost isn't necessarily as easy is just finally an insurance claim. dusty into the rubble years of memories now in shambles the past eleven days have been surreal amy here were ten said her husband woke up in the middle of the night packed a few things and clapped their two kids in for animals it was nearly impossible to grab everything with sentimental value i don't have wedding photos i can't
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reproduce those i don't have some of the baby's earliest and i can't reproduce that i mean there's physical items that we just appreciate artwork that we can't you know replace well george chester also lost his whom he had better luck when it came to finding things near and dear to his heart found a watch that belong to my dad an old pocket watch he was given when he went into the army air corps and was a navigator in world war two. and largely intact so that memory of him both harrington and chester say once they can they plan to rebuild in their same community he planted to come back all absolutely we've lost a lot in in california in larger cities this is a community my mailman knows me always actually rebuilding here everyone is we love it here this is the best neighborhood but it'll take more than just time even with insurance the costs quickly add up those of us with a mortgage or carrying our mortgage paying our homeowner's dues and homes that
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don't exist then we have to pay that off before we start over insurance alone doesn't always cover as much as policyholders believe they're initially signing up for according to all states personal property such as jewelry may not even be covered in your plan so additional coverage is needed for those types of items in his statements amy bock executive director of united policyholders said all those commercials about insurance companies offering peace of mind when things like this happen those are ads she goes on to say in reality insurance policies are written by teams of lawyers and it can be rough for homeowners nearly ninety percent of homeowners have fire coverage and forty percent of renters have some type of coverage for their belongings. however some insurance companies are refusing to give coverage to those who live in high risk areas for their acts the state of california has the california fair plan the state sponsored program gives these homeowners coverage it offers up to one point five million dollars for both the structure and its contents which is nice expression for those who would not
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otherwise be covered but housing in the state of california itself is expensive so this program can't always bring full relief to its policyholders and many third parties are trying to step in to help if you are having problems with your insurance they give his people the information how to do it well fema is offering some aid many are turning to go fund me to make up for what they believe insurance won't cover chester coaches a serious cyclists and says they also created a go fund me page for him as well and i've had sixteen year old. young people text me message me call me in sept oct my parents you can come stay with us and for harrington she's trying to hold an entire new outlook i'm trying to let go of attachment to things i've been a lifelong collector so i think now you try to be a minimalist i've lost but it's a total refer patients now insurance companies advise taking video of belongings
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before disaster does strike and if you do have to evacuate you are of course encouraged to save those receipts and or health suites r.t. . for those pictures are so horrific we think atocha time now for a quick break but hang here because when we return alex my hyla big joins us to look at the new cooperation and coordination between china and the philippines and birthday of thanksgiving in the united states more than forty four million people will tune in to watch the largest trade ever the macy's thanksgiving day parade trinity charges takes us to the iconic macy's in the heart of new york city plus facebook is founder. and we take a longer look at the company headed into next year with the c.e.o. of strong market reform which and here are the numbers at the closing bell markets seem to have at least stabilized at least for now from the last two big down days we'll be back in a what. nobody
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could see coming that false confessions would be in this wasteful. head any interrogation out there bill c. is promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make them one comfortable make them want to get out and don't take no for an answer don't accept their denials she said if i were. sound i stayed there i would be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all the crime. and. the russian military deteriorated terribly at the end of the soviet union and
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russia was always going to rebuild its military the question is how can we the united states and russia construct a relationship where we are both confident with the intention sore more confident of the intentions of the other so that we're not worried it's not that we shouldn't . but we should make sure that our counterparts understand why we have it and when and where we would use them.
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this is poland bus broadcasting around the world and covering the world of business and finance and the impact on all of us i'm part chilton's coming to you once again from our miami florida studio we're glad you're on board coming up today there is an environmental business news and we have just the person to tell us about it tyson slocum of public citizen is standing by and speaking of the environment a lot of it and more was burnt to a crisp in those horrific california fires are to correspond to talk this week tells us about the rude reality of insurance policies plus we told you about the new coordination and cooperation between china and the philippines bill today will give you some interesting details parties alex mahela dish has the story and
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thursday is thanksgiving in the united states and more than forty four million people will tune in to watch the world's largest parade macy's thanksgiving day parade parties trinity travis takes us to the iconic macy's in the heart of new york city and tells us about the celebrated company and later facebook is floundering the c.e.o. of strong mark hilary ford which helps us take a longer look at the company headed into next year all that ahead but first we had some headlines let's go. leading today's global report the u.s. china and a number of other countries are taking their tangle of trade grievances to court at the world trade organization in a remarkable development the u.s. has officially confirmed they wish to pursue cases in the w t o process against china as well as canada and the europe. in union meanwhile the a u canada china russia mexico and norway have all given green lights to w t o litigation against
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the united states turkey is expected to follow suit soon earlier today the fight kicked off in geneva as u.s. ambassador dennis shay fired accusations of hypocrisy and abuse of the w t o china mr xi. chinese counterpart shot back with a reminder that the u.s. is still not in compliance with a two thousand and four w t o ruling against the u.s. on intellectual property the irony of the issue is that intellectual property has topped the u.s. is list of grievances against china what a mess. and in other news on the continuing impact of trade conflicts on the global economy the organization for economic cooperation and development has lowered their growth projections for twenty nineteen citing trade tensions as a significant source of downside risk to global investment jobs and living
7:49 pm
standards the o.e.c.d. s estimate for global g.d.p. growth next year was adjusted down to three point five percent from three point seven percent just two months ago in understood but clear language the o.e.c.d. signaled growth is likely to wane over the next two years finding that quote investment and trade growth have proved softer than it just abated financial market conditions have tightened and confidence has continued to ease boy that's a political statement while growth has been improving in the past few years particularly in asia the paris space analysis also downgraded forecast for china for this year and through twenty twenty when the o.e.c.d. now expects flat growth at six percent in china and turning back to the united states the hits from the trade fight keep on coming as grain stocks pile up and rot their. rotting for lack of chinese buyers the bottleneck is now reportedly pushing up prices for grain storage and some u.s.
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farmers have found that it's simply better to plow their harvest under it's the least costly choice for many of them in the state of louisiana as much as fifteen percent of this year's oil seed crop will be plowed under or otherwise disposed off due to the demand drop off as well as saw the growing season that damage much of the yield according to the agriculture department. and moving to the mediterranean the european commission has responded to a tally and defiance on the twenty one thousand budget issues by pursuing an excessive debt procedure and e.t.p. we've told you about before against the wobbly nation led by an increasingly fractious coalition government sanctions under the g.d.p. could include among other painful punishment fines of as much as point two percent of g.d.p. prime minister goosestep a conti of the five star movement and deputy prime minister material salvi of the far right league made
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a defiant show of unity for both coalition partners valent to push forward with their current budget plans. last week molly barrows joined us and told us about the president about president donald trump's regional administrator for the southeast region of the environmental protection agency who was indicted he was indicted for crying out loud on ethics related charge and that fellow has fortunately resigned from his government post unfortunately there may be other sequels in this story is not the only instance of those with involving protecting the environment seem to be not doing their jobs for more we're joined by tyson close focus of public citizen tongue tied there tyson so . ari about it welcome back and first can we get your take on trade glenn the fellow who was indicted and has now i fortunately for my perspective resigned from
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the trump administration's e.p.a. yeah so it's part of this long running investigation down in alabama where a bunch of lobbyists and lawyers for a coal company colluded with regulators to try and get this coal company out from under this pollution enforcement case it's netted a bunch of other lobbyists and lawyers and now it's got trade glenn and you know the thing is you know this individual was put into this position to basically run the e.p.a. in a southeastern us states. by the former e.p.a. administrator scott pruitt who really emphasized putting lobbyists and other folks from industry indicate he enforcement positions at the e.p.a. and that was exactly what this se administrator who was just indicted that was his
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background his background was working as a lobbyist for industry and so it's really not that much of a shock when lobbyists for industry and up getting indicted. even you know tyson i mean you've watched this over the years that i haven't and i know a lot of boom busters around the world have. when you it's one thing to say we're going to put some industry people in here and they're either going to be you know the foxes guarding the chicken house that happens it stinks no good hate it argue against it thank gosh there's people like you who fight against it but not properly vetting people people who are involved in criminal acts that takes it to another level and these folks have to actually be approved by the u.s. senate which brings us to andrew wheeler he's selected as scott pruitt's replacement at the p.a. where is that and what do we know about mr pruitt right so mr andrew wheeler.
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trump installed him as the number two at e.p.a. back in two thousand and seventeen so he was the deputy administrator and after scott pruitt was forced to resign in july of two thousand eight hundred to scrapes andrew weil or ascended to become the acting administrator and just last week. the president trump nominated wheeler to be. you know to be to formally be the full time administrator and so andrew wheeler before he became deputy administrator he was a lobbyist and we have been monitoring mr wheeler's activities for quite some time there are documents showing that he was the one that was being paid by murray energy who is c.e.o. is bob murray one of the largest private coal companies in the country that has had an outsized influence over trump and ministration policy this is the company that
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was pushing to rewrite america's energy markets in order to favor an economic coal fired power plants this key meeting that happened in march two thousand and seven two. team where bob murray got to meet face to face with secretary of energy rick perry the e-mails that we've gotten all show that the meeting was arranged and set up and attended by andrew wheeler who was then the lobbyist who was representing bob murray and so that's just one of many examples of the kind of influence that andrew wheeler had over the trumpet ministration and now he's he's you know running the e.p.a. and so the question is is the senate going to do its job of effective oversight and unfortunately with republicans in control of the senate the same party as the trumpet administration they've shown no appetite whatsoever for effective oversight
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but with the democrats taking over the house we've got significant pledges particularly by representative frank pallone who is the incoming chairman of the house energy and commerce committee he's going to be pursuing aggressive oversight and so even though the house of representatives under a constitution doesn't play a direct role in reviewing or consenting to appointees i think you're going to see some really strong oversight by the house that might influence that senate confirmation process we sure hope so and we hope to come back to talk about environmental policies and how it's impacting business going to do next year tyson slocum of public citizen thanks so much for your time expertise tyson see later you got it. with those horrific fires in california many people whose homes were lost are now struggling to deal with insurance companies for a closer look at the root realities here's our t.
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correspondent the touch of sweet well here you can see about half of this mobile home park was destroyed by the wealthy fire and now building back what they lost isn't necessarily as easy as just finally and in turn. dusty into the rubble years of memories in shambles the past eleven days have been surreal to me you were ten said her husband woke up in the middle of the night packed a few things including their two kids and four animals it was nearly impossible to grab everything with sentimental value i don't have wedding photos i can't reproduce those i don't have some babies early. dollars. my dolly is what i would be. when we got garrett over here we care the music with us.
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we are a year we were dry gear. blind you have got to get room. we will not go away we will not die quite. real the hard work we do is the. amazon already has a significant portion of all u.s. commerce something approaching twenty percent i guess their goal is to get fifty percent of all commerce in america it would be amazon commerce and they need artificial intelligence to do that an artificial intelligence needs data to run effectively so jeff bezos but the call out to all the cities and they said we may come to your town just give us all the data all the people living in your town and
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will dump it into our computers and our ai systems and by the way you don't get anything. to briggs it or not bring to. exit that is the question trista may's find to exit the e.u. has been roundly criticized from virtually every corner and with a looming deadline the u.k. could face a hard brings it without an agreement even early elections how did it get to this point. tracking gave americans a lot of new job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck so i chose to drive truck people rush to a small town in north dakota was an unemployment rate of zero percent like the gold rush is very very similar to. this beautiful story ended with pollution and
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devastation a lot of people have left here i don't know too many people here anymore slow down too much they lost their jobs that laid off the american dream is changing that's not what it used to be. and it's a tough reality to deal with. iran's foreign minister describes donald trump's awards as shameful for pledging america's continued partnership with saudi arabia as the u.s. leader shifts focus from the murder of journalists jamal khashoggi to both countries fight against iraq.

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