this is going bust broadcasting around the world and covering the big world of business and finance the impact on all of us i'm part chilton in washington thank you for being with us we're glad you're on board coming up today federal reserve chairman jay powell has made news we'll get an expert commentary from admission of adam mesh trading plus there's some surprising and super interesting news regarding health and fast food it surprises me we'll talk about that and more with the author of bet the farm kaufman and apple makes arguments before the u.s. supreme court on antitrust and will question more about apple's competition antitrust attorney andre barlow and conservative commentators steve malzberg will be with us and later we'll take a look at global oil with our t.v. producer so i had to have been here all that directly ahead but first we had some headlines let's go. unexpected news on trade and tariffs leads our global

report today as the eyes of the world begin turning toward an anticipated meeting between chinese president xi jinping and u.s. president donald trump at the g. twenty summit beginning friday in borno sorry's argentina behind the bluster of mr trump's tirades against china the trump commerce department has given all most listen to this three thousand waivers from u.s. tariffs to u.s. based companies seeking to continue using imported chinese metals and metals products blade manufacturer greenfield industries which is based in south carolina owned by a chinese company reportedly accounted for one thousand waivers a thousand ways or waivers how did they get those incidentally as world leaders and media including r.t. america scottie hughes who we hope to hear from on the program next time descend upon buenos ariz for the g twenty meeting government officials have suggested to the city's twelve million residents that they actually leave due to the. engine

security mode under which this security is existing in the city. and there is more news on china's role in building international internet infrastructure especially the vaunted five g. technology last time we reported the decision by papa new guinea to proceed with chinese tech firm was always construction of internet architecture despite opposition from other governments including australia and the united states well today there's more news new zealand telecom companies spark announced the national intelligence agency there in new zealand has cited national security as a reason to block sparkes proposal to enlist while away as a partner in the construction of cell tower facilities for five g. radio access network the already and they call it spark expressed disappointment but still expect the five g. r a n to launch as planned and july twenty twenty. and us federal reserve chairman jay powell has made news today and what some of called his

most important speech since he was confirmed for the position earlier this year during a speech the chairman said the economy is growing quote above trend and there's only moderate risk to financial stability he signaled rate increases will continue but hedged on exactly when suggesting the fed was nearing a neutral rate where interest rates neither increased or slowed economic growth u.s. markets reacted favorably to his comments and joining us now to discuss the fed and more is our friend adam mesh of adam estranging who joins us from our new york studios adam most folks will think the fed will increase rates in december about eighty percent of a condom is think that by another quarter of a percent of a point but that doesn't appear to have bothered traders in the u.s. today in light of the chairman's overall comments about the economy what are your thoughts. it certainly didn't bother traders the big thing that changed was the land which in the past chairman pollitz said that we were a long way away from neutral today the comments were that were just below neutral

that's a big difference in the wording and the futures market went from pricing three or four raises in two thousand one thousand to now just one raise in two thousand and nineteen so it looks like we'll get this raise in december everybody is expecting but then it may not be you know it may not be until june or maybe later in the year and just to be clear i mean when we talk about a neutral rate pretty much everybody is there's a consensus around two and a half to three and a half percent on interest rates right adam yet that's that's the exact number the big number to follow is when they said a long way away from neutral we saw the market drop ten percent now that we're just below neutral we had a two and a half percent rally today but if you do the math we could have three more days just like today yeah i mean it's so after the markets watch the language i mean i

remember when i was a regulator it's different being the fed chair certainly than a commissioner of the financial regulatory agency but boy every word you say market to look at this stuff particular when you're the fed chair and he was generally jay powell pretty positive about the economy although he did notify you risk raising rates too fast you said could be a problem the trade disputes could be a problem he also mentioned brecht's it and you know that could have been a big impact worldwide on some some economies any noted some weakness in housing and i said that i thought he said that some assets classes could be overvalued but i didn't see more than at what you think is referring to in the overvalued asset classes adam. i wonder if you is going with traditional asset classes or he's looking at some of the more more alternative it would be interesting i'd like to dig a little deeper and find out what he was referring to there because because that could be a target for for some downside opportunity so that's a very good question let me ask you this adam the president continues to brow beat

on twitter and in remarks the fed mr powell his pick for chairing the fed suggesting the economy is slowing because of the fed what do you think. well the presidents and the trump administration's goal is to see an increase of three percent of g.d.p. per quarter and they're on pace with that we also saw that unemployment hit a forty eight percent year forty eight year low which is i mean any kind of negative possible news was outweighed by all the good that came today and you saw the market reacts and it was incredibly favorable yet pay adam we're out of time today i would love to get you back as soon as possible because i know weird plan to talk about some stocks and we always want to hear that from you as to hopefully get you back as soon as possible adam ashe of adam mesh trading a great to have you with us adam thank you.

the national center for health statistics in the united states has reached some findings about who eats fast food and the results may surprise you they surprised me the government's agencies latest national health and nutrition survey found the likelihood of eating fast food increases it increases with income among families of four in the low income bracket thirty one point seven percent consume fast food that number for families in the top income bracket was forty two percent the studies seem to contradict commonly held assumptions about people with less income being more likely to consume low price low nutrition options some public health experts question the study's methodology which effectually put fast casual salad vendors for example in the same category as restaurants and burgers or pizza a new york university professor of public health a nutrition and path boom bust guest marion nestle told the website new food

economy she said quote this is comparing apples to apples and doesn't work. and to dig deeper on this and more we are pleased to be joined by the intrepid author of bet the farm how food stop being food fred kaufman fred ice ice a intrepid because you really took on the largest food companies that in the world in your book and i love that you took them on and i love your book and we're glad that you're here today first of all what you make of that survey fred well i think marion nestle is absolutely right it's apples and oranges by the same token i think what we're seeing is that fast food as a whole is becoming better it's becoming healthier and becoming more focused on retail need and i think everybody is just pressed for time i mean that's the bottom line apples and oranges apples and oranges if you ate apples and oranges you'd be very healthy but i could tell you even if you have a little more money once in a while you can still go to fast foods despite your health fred let's talk about a different kind of fast food companies are increasing trying to bring product to

market quicker and that's been something they've had to trouble with in the past when you look at the the clothing sector you know they turn around on a dime when fashion whims change but there's been a problem in the food sector why is that. well i think basically the problem of the food sector and why it's been so conservative is really it's an inelastic market everybody is in it to the tune of about two thousand calories per day and so what that allows is the really the equivalent of the big box store in this sector which is the grocery store to be very conservative and traditionally it's been very hard to get shelf space but now we're seeing a real change part and what we're seeing is as amazon enters this market what we're seeing is much more of a willingness to change and to open up that shelf space and what we're seeing also are for instance retailers like coca-cola who are now introducing two new flavor drinks a leak in japan leaving them out for six weeks seeing how they're doing and either letting them go or not the cautionary tale here what everybody is really afraid of

is something like the milk story milk kind of sat back and just figured everybody is going to be buying us forever and look what's happened to that milk i'll look at all the yogurt drinks look at the vast diversification of drinks and milk the great stalwart has lost a tremendous market share and so i mean in the past they've been slow it could take years for them to get a new product but will it really separate those who just survive and those who thrive if they're more adept at getting products to market absolutely and really what we're seeing are start ups really out of for instance one called habit out of oakland california which is getting so far advanced in terms of quickness of response and personalized nutrition what they're trying to do is hook up big data from your fic bit from social media using personalized d.n.a. and getting everybody a personal diet part so that in other words every single day depending on how you're working out what you're doing your food will be ready for you from amazon

fresh. let me ask you are there some i mean that's an exception but are there some other large companies who are turning around products quicker that may actually be bent big beneficiaries some that we haven't talked about. everybody's doing it part we're seeing tyson foods are seeing we're seeing nestle we're seeing coca-cola really all across the board this is the story in the food industry right now is faster response getting new flavors and getting new tests getting the test base getting on those grocery shelves and if you don't do it you're going to you're going to die you know i did perrigo praed i'll just tell you i wanted to. think really highly of heinz you know the catch up company when they introduce they brought to market that product mayo chop you know man a's and catch up together it hasn't helped their stock much but they did finally get it out there author of bet the farm how food stop being food fred kaufman thank you so much fred great to see you great to see you bart. and time now for

a quick break but hang here because when we return we'll talk about apple's claims before the supreme court and if you like an i phone equivalent for nearly a thousand dollars less andre barlow and steve small further standing by to discuss plus our chief producer saya tavenner will join us to look at global oil in light of that upcoming g. twenty meeting we told you about and the opec meeting next week in vienna and here are the numbers back in a flash. point

. and one moment i threw in. oh i can't have her name yes i knew she needed. to keep taking that he had to keep. going i may have made the move. from both of. us producing a lot of oil and gas to our energy independent as big as the bin russia and saudi

arabia but as you're making there is that they're actually losing money on every route. but all right. we're. going to be the one has. that right on the bank. base walker. and this is going to be would be a new treatment internationally know that these industries are looting you had to simply ignore the money and.

the mother of the means we lost even this. a british government report has confirmed u.k. leaders face a range of brecht's at options which range from bad to worse the consensus among all consultant departments of government is that these so-called hard breakfasts that's with no deal hard bracks it would reduce british g.d.p. by a whopping nine point three percent over fifteen years compared to where it would be if it would have been rather if a bracks boat had failed the government also found that by the same standard the plan agreed to by prime minister theresa may and leaders would shrink g.d.p.

in the u.k. by three point nine percent speaking in london today mark carney the governor of the bank of england gave this grim forecast by the end of twenty twenty three g.d.p. is more than ten percent lower in the disorderly scenario compared to me twenty sixteen trend. despite this short contraction in g.d.p. something that's bigger than the happened during the financial crisis unemployment rises to seven and a half percent less than during the financial crisis and that reflects the supply driven nature of the downturn. and like i said from bad to worse and by the way we noted earlier breck's it will impact other economies including that of the united states. and catching up with the battle for market share in ride hailing d.d. has been hit with heavy fines and strong public rebuke from chinese authorities over safety issues d.d. is a global leader in the sector and dominant in china but that success was marred by

two separate deaths of riders by d.d. drivers earlier this year earlier today the chinese transport ministry said deedes systemic skirting of safety rules has created quote a major safety hazard for d.d. customers the ministry also said quote the driver's qualifications and background checks are not in place the company's management of people and vehicles is out of control. and if you're looking for great deals on a new i phone i pad or apple watch you may have even made a purchase on black friday or cyber a cyber monday to take advantage of some pretty sweet deals that purchase would make you a direct customer of an apple product but while customers have been busy gobbling up the latest apple products apple's attorneys were busy making their case before the u.s. supreme court in an antitrust suit that could have big financial repercussions for the tech giant the issue centers on the apple app store and the question of who is

the customer when you pay to download an app is it you or the developer of the app it's complex but an interesting matter and here to explain and comment is and i trust attorney andrew barr andre barlow a partner it doyle barlow and mozart and servant of t.v. commentator steve walter welcome gentlemen great to have you. both andre you are the expert on this stuff you've been here before you've told us explain this pretty complex case for all the bull busters yes sure you know if you would think it's pretty simple on who the customer is who the direct purchaser is but under the antitrust laws nothing is very simple what we have here is consumers brought an antitrust case against apple for monopolization of the of the you know of the distribution of applications that are sold through the apple store they control the entire apple ecosystem and these are apps for i o. s.

devices so apple has complete control of the distribution of these apps and consumers believe that they've been overcharged and that's what the case is simply about now the district court threw out the case and then the ninth circuit overruled the distant court and said the case can go on and now apple has appeal to the supreme court and apple's main argument is that the most. the most appropriate plaintiff here are the app developers the app developers are the ones that pay the thirty percent commission fee and they should be bringing the case if there is a case to be brought that they are the direct purchasers of these services and that the consumers are not now this may be some form over substance you know apple is relying on this agency relationship that it has with these app developers and you know the app developers control the cost of the apps but apple is simply

distributing it to the consumers now taking a look at it you know for a perspective of the consumer the consumer is making a direct purchase through apple they pull out their i phone they're downloading the app and there you have it they're the direct purchaser so their argument is from the consumer. point that this direct purchaser world that has existed for you know almost fifty years doesn't really apply in this instance because they are the direct purchaser hey steve what do you make of this case. yeah well you know it's hard to judge what the supreme court might do but from the reports and the questions that were asked certainly the liberal judges like sort of a or and kagan seemed to be on the side of the plaintiffs that they were purchasing you know and they were the customer and they were they had a right to sue that's what this is all about who has a right to sue is there standing on the part of these citizens to sue apple and claim antitrust but even samuel alito and neal gorsuch two conservative justices

said that this direct purchaser law which is over seventy years old may be outdated because of the way the economy has developed and changed so they appear to be kind of on the side of the plaintiff as well you can never predict but if i had to make a guess i would say this case will be allowed to go forward in arresting and guys i want to shift gears a little little little bit we've spoken about competition a lot on the program and apple is certainly the eight hundred pound gorilla in the tech sector but there's competition some of this competition has made us do what we do here all the time question more and so bear with me we've been covering this controversy about wild way that the chinese tech firm where the governments are wary of the us australia new zealand about wildly being involved in providing five g. or anything but while way produces a phone that is nearly identical to the i phone and it's five hundred bucks and the new i phone the equivalent with all the bells and whistles is fifteen hundred bucks

so my question is and i may seem a little conspiratorial but is it all about national security when these governments are slated don't buy while why or are they supporting apple is there any more than meets the eye here steve you first well i do say everything that you're say i think it's a bargain if you could buy that phone there's three cameras there's better hardware they say the battery life is much longer than the i phone ten and it's cheaper it's like a no brainer so that you could say hey maybe they are trying to protect apple on the other hand there is a legitimate security threat here in two thousand and twelve the united states. issued a report talking about the security threat of the chinese hardware and companies like while way and down new zealand as you alluded to and they did a little story on earlier five g. they're out of the picture australia they're out of the picture and what apple needs to do now i'll just be brief with this they haven't even mentioned five g. yet and there's some speculation that that won't happen till two thousand and twenty and they're looking to develop their own modem if you will to keep it all

in-house and not have to rely on outside people to provide for them but i think that the security concern is absolutely legitimate you've got three three cameras like you say maybe one of them is on you all the time andre what is your thought on this thing you know i think i think the security concern is legitimate as well there is there's much to be said about that but i would also bring in another thing for consumers to think about no matter what devices you buy whether it's a samsung or an apple product or a google home or amazon alexa when you invite these products into your home or onto your person you are giving up the level of privacy through the data that exist on these devices and what they're learning about you so there's much to be concerned about and if you're talking about security concerns in terms of why that that is all the judgment and i would just raise the raise the issue on all devices that you acquire is getting a little bit tougher than just putting

a piece of tape on the camera on your computer conservative t.v. and radio commentator steve walter and partment doyle barlow and mozart andre barlow thank you guys for your time appreciate it thanks part think. we now shift gears to take a look at global oil and more oil prices trading in new york mercantile exchange in new york today we're trading just north of fifty dollars per barrel the average price for a gallon of gasoline ited states today is two dollars. in fifty seven cents per gallon that's up three cents or only three cents rather over from a year ago this time many are producing nations aren't too pleased with the relatively low price here discussions are two producers. welcome we have not only this opec meeting coming up on the six but the g. twenty meeting coming up later in the week and we'll get some reports and talk about that more but what do you make of what's going on and what you think is going

to happen in these conversations. or well bar and let's look at the key players and tearing into the g twenty which of course are the u.s. and russia and saudi arabia now these are are of course the top three or oil producers in the world and they provide about a third of the world's oil i do that exactly and they're all going to be there so they're going to be using the g twenty as a way to come up with a strategy for the upcoming meeting in which is going to be for the opec meeting but as we all know there is a lot of geopolitical leverage the u.s. currently has over saudi arabia so that all eyes are are going to be on saudi arabia and the us is expecting saudi arabia to maintain these low oil prices that we currently have about about fifty four dollars a barrel dollar barrel and president trump even recently sent out a twitter and thanked saudi arabia for the fifty four dollar mark and thanking them because that way it went from eighty four dollars and october but what's really

interesting about president trump's tweet is that would a lot of fuel join realize is that the u.s. currently imports about ten point four million million barrels of oil per day and forty percent of that actually comes from canada and less than ten percent of that comes from saudi arabia about half of our use actually comes from comes from here in here in the united states and not from imports so although they have a lot of geopolitical leverage over saudi arabia they're on they're not actually i mean part of our. it was here in the u.s. are really the cynic about we talk about geo political leverage i mean the president just seems to be buying this jamal khashoggi the deceased murdered journalist from the saudis he just seemed he's not dealing with his own cia expectorate this is the first g twenty cents that death and so mohamed bin some of the crown prince in saudi arabia is going to be meeting i mean would you

like to be on a fly on the wall if he meets with president trump how do you think these global leaders are going to react to the crown prince well let's again go back to how much currently the saudi arabia is actually out putting in oil which is at a record high about eleven point three million barrels a day by going into the g twenty and then the opec meeting saudi arabia is expected to have a saudi first policy on everything and so they're not they're not going to they're going to pursue their own economic interests and that's why analysts are forecasting you know they're interesting and i want to get to have you back soon because i know there's other news in oil and we are going to be coming up on that opec meeting on the six hour thank you so much so i to have been gerard the producer that you're being very great. and that's it for this time thank you for being with us you can catch boom bust on you tube dot com slash boom bust r.t.

so long for now we'll see you again. u.s. veterans who come back from war to tell the same stories. were going up for the people who were killing civilians they were not interested in the wellbeing of their own soldiers either. there are already several generations of them so i just got this memo from the circular defense office says we're going to attack and destroy the government and seven countries in five years americans pay for the wars with them money others with their lives if we were willing to go into harm's way and willing to risk being killed for a war then surely we can risk some discomfort for

a nice enos for us. i mean are there fun must go. even even in the slightest and i never thought to unwelcoming and i've been going this instance to late ninety's that there is no doubt about the transformation of moscow and so far the city center and increasingly. more per for a pot smoker is an incredible achievement it's one it's a very expensive it's human mosco has become at least in the sense a more a more sort of livable place to use this kind of job of some in the long term effects of this of an improvement will take will take a long time to be measured because these are really just beginning. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer it be 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 there's just no really hasn't been that 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 what 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. passing a resolution this point you would have heard the who these sort of courage the israelis this is what the decision is all piled on the floor of the united states a split emerges in washington over the u.s. stance on saudi arabia with the senate call.