plus another topic at the g. twenty meeting is oil those discussions come ahead of next week's both next meeting in vienna we'll talk about geopolitics of oil and tries to projections with rocky horror of simpler trading and later dick's sporting goods or just out and the move made after that horrendous florida shooting to stop selling firearms earlier this year that has cost them we'll go to florida where molly barrows will dish out the details all that straight ahead but first we had some headlines let's go. shocking consumer privacy newts leads our global report today as the world's largest hotel chain has disclosed the hacking of personal information of an estimated half a billion guests mariette based in bethesda maryland said an internal investigation revealed unauthorized access to the starwood guest reservation database since this twenty fourteen mary had acquired the starwood chain of hotels and resorts and

twenty sixteen interestingly the breach reportedly compromised murry out on locations operating under the brands of starwood sheraton weston and luxury chains including w. and st regis but not marriott branded sites of the five hundred million guest approximately three hundred twenty seven million may have had information including passport numbers and addresses compromised and this went on for years for some portion of those even credit card information rich requires decryption was compromised and marriott says they cannot rule out the proposal the prospect of hackers also having obtained decryption tools the news comes after marriott and starwood rewards program for combined in august but technical glitches continue still some are saying it's been an amateur hour at or at marriott to make matters worse as part of the combined new system starwood points have been deeply devalued leaving many customers to look elsewhere for accommodations and reasonable more. it

will reward loyalty programs what a debacle. and turning to the g twenty summit one of our is argentina the leaders of mexico canada and the united states took the spotlight there today by saying that to go shaded version of the north american free trade agreement the redone nafta that u.s. mexico they now call the us mexico canada agreement was signed in a ceremony marked by proper but cool interactions between u.s. president donald trump and canadian prime minister justin trudeau mr trump tried to turn the page on the previous attacks on mr tito suggesting quote battle sometimes make great friendships and of note tomorrow andreas manual lopez obrador on low will be sworn in as mexico's next president. and for more on the g. twenty summit we go to point to areason scotty no hughes host of news here on our to america hey scotty we're so glad you're down there we're so glad you have time to be with us you're part of the presidential reporting pool what's the latest.

absolutely thank you bart well the main events and everything that is organized for the group has already happened and it's now everyone is returning to their own hotel for bilateral meetings just wrapping up right next to us right now is a meeting between the chinese and president xi jinping as well as lattimer put in we've also seen the brazilian delegation join in on that as well as the south africa they're going to all wrapped up these individual little bilateral meetings they have in fact they have another. behind us probably here soon they're going to wrap it up and tonight they can do something more social but you know obviously they don't continue to talk about the business of the day and president trump did have a busy day but not necessarily with do you want to you would have expected he would have been talking with he did it move tomorrow as we know the famous tweet to cancel the meeting if. he didn't move and place it was it a german chancellor merkel he will be meeting with her at that time he met with japanese prime minister shinzo and that they also brought in the indian prime

minister as well to discuss possibly a future trip and as well as the g. twenty that will be located there next year he did also with the south korean president as well as australian prime minister who is that lacking is that the chinese president who had a very full advance card today as he met with the majority and majority of the leaders from a glamour pinta also the crown prince of saudi arabia now present time did it run into the crown prince and they exchanged pleasantries and very public lots of pictures out there of that but no formal meeting it was set as well so looking at it going in tomorrow is obviously the meeting that people are wondering about it actually happened after the g. twenty closes apart when there's going to have a formal working dinner and they're going to within between press. and president xi jinping the question is how does the other relations and everything that's gone on the last forty eight hours the meetings that she is having with all the other countries going to affect what ultimately will happen with president and is president trying going to try to gather back all of the headlines by actually

working with the chinese and come up with a deal that will end this trade war that's been going on that might be the limit made of the situation is right now president trump it's not necessarily and the headlines for his positive interacts with other world leaders and i think you think anything that you can get from the chinese a deal that would end the trade war would be something and his feather in his hat as he would like to end this segment on a positive note. you know the markets are now they just they just closed but boy traders are sure looking at any more signs down there from one of stories including that meeting was being and whether or not even though the administration has downplayed any deal whether or not something surprises a scottie now with use on the ground in argentina at the g. twenty thanks scottie appreciate your help. and we now take a deeper look at the g twenty summit host country argentina which is once again seeking assistance from the international monetary fund they do so despite a troubled history boom bust some daniel brito brings us the backstory to the

current controversy. as the government of argentine president maurice yo machree moves forward with an austerity and credit agreement with the international monetary fund a few outside the country are familiar with the tangled history which made the decision to seek i.m.f. intervention so unpopular in argentina in argentina the story is perhaps even more well known and infamous than the great depression is in the united states because it happened within the past twenty years from one thousand nine hundred eight to two thousand and two argentina suffered a depression that reduced g.d.p. by more than twenty percent. in january two thousand and two argentina defaulted on ninety five billion dollars of foreign debt the economy took a severe plunge but began to recover after the first quarter of two thousand and two in september of that year president kirchner famously defied i.m.f. demands on behalf of foreign creditors signaling willingness to default to the i.m.f. itself rather than accept i.m.f. demands remarkably the i.m.f.

relented allowing argentina to roll over its debt to the fund rather than accept default with a free hand to pursue recovery policies the i.m.f. considered anathema president kirchner then presided over eight percent annual growth through two thousand and eight president kirshner's popularity seemed to rise in direct relation to the disdain argentines felt for the i.m.f. it was extremely controversial within argentina then when president reseal machree who defeated one of the late president kirshner's fellow peronist at the polls in twenty fifteen turned to the i.m.f. for help in may of twenty eighteen at that time reputable argentine pollsters measured opposition to the i.m.f. intervention at seventy five percent paul co-author sergio berenstein said the i.m.f. is quote a quasi toxic word critics say the i.m.f. demands for budget austerity will hinder the growth argentina needs to be able to overcome their current troubles but mr machree is clearly determined to move

forward. and here to expand on argentina and the country's tangled past with the i.m.f. is the co-director of the center for economic policy research mark wise mark welcome back we're so glad to have you with us you were telling me on a bit ago you're working on a paper or book on the ground in a paper on this so you know everything about our i mean as dana described it is peace there it's sort of a twisted tangled past why has the president gone back to the i.m.f. well they had a severe financial crisis beginning in may when they went to the i.m.f. and so they saw it as a way of getting out of that getting they got fifty billion dollars committed right away and now they've in october they up to the fifty six billion that's a huge amount of money even whether what you compare it to you know g.d.p. their exports whatever that's a lot of money and they've already dispersed twenty billion of it and of course it's much lower interest rates than they can get in the market so they would be the

reason they went there and it is are some conditions you know what they have to do budget austerity except for what do they have to do to continue to get this money yeah that's the catch although i have to say you know this is a right wing government so they agree with most of what the i.m.f. is doing but that doesn't mean it's going to nor like venezuela was really pushed into that position right well that is when they went to the i.m.f. you know the i.m.f. has been out of most middle income countries since the twenty first century started they lost most of their influence around the world so this is kind of this is a big test for the i.m.f. this is part of their attempt to come back to and especially in argentina where they messed up so badly the last time as you describe in your introduction so the thing is with the i.m.f. is going to do is their program their strategy is we're going to restore market confidence and how we're going to do that well unfortunately going to do it by

causing a very bad recession and the i.m.f. on. actions now show a two point eight percent g.d.p. decline for this year and one point seven percent for next year now just three months ago when they sign the agreement they said the economy i'm f. was saying the economy was going to grow this year it was going to grow i want to have percent next year so this is a huge forecast there and so obviously they have a restored confidence of all in fact the done just the opposite so far so that is a big deal you know two and a half three percent forecasting error and you wonder if you're going to get your money back ultimately what's what's the overall condition what's the unemployment rate like i mean how bad is it there i think that employer rate right now is nine nine percent for the year and the well the shrinkage of the economy i did mention but you have also interest rates for example. percent and this agreement commits them for keeping the short term policy rates like we have

our two percent federal funds rate in the u.s. sixty percent and they have to keep it there until inflation expectations fall for these two consecutive months so they're committing to a tighter monetary policy they're committing to this big adjustment three percentage points over three percentage points of g.d.p. they're going to tighten the budget that's how they get in this recession and you know they've done this before and of course you know it does do something when you shrink the economy you get you lower inflation and when you shrink the economy you also reduce your trade deficit because people can't buy imports and so that's what the fund is doing but the problem is where does it stop the last time they did this in the late ninety's it didn't stop until the government defaulted on the debt you know change their currency regime and got rid of the i.m.f. and that's when they started to recover mark thank you so much for being here and spread the light on this we appreciate you look for to reading your paper mark

weisbrot thank you so much. now for our weekly market wrap up as we like to do we start in russia the moscow stock exchange up just a little bit that is despite the news on increasing tensions with ukraine shanghai stock exchange also up the nikkei actually up seven hundred points i was looking earlier today at the big manufacturing company mitsubishi essentially down on the year hong kong it hang seng there up and a.s.x. australia one hundred that end down but just a very little bit and moving to mumbai to india the sense at the bombay stock exchange up twelve hundred points this week the all shares in south africa in cape town up just a little bit not much at all as is the cac forty in france up just a little bit the german dax by the way down pretty big this week we told you about

a lot of that negative news bearer for example with that trouble with monsanto they were down a shares a bear were trading at eighteen dollars and also deutsche bank we talked about deutsche bank deutsche bank shares down from nineteen to nine in the year so down ten bucks and even volkswagen thirty three dollars at the beginning of the year down to seventeen dollars now the footsie remain in london remain just a little bit up as despite a lot of that negative news about g.d.p. growth under the various brecht's at scenarios and in colombia matter of fact in all of south america colombia the best but and even the buenos aires exchange vaal which we don't talk about all the time all up just a little bit and in toronto the sex was up a little bit but down on the here and nasdaq and the n.y.s.e. indexes nasdaq still just a little bit up on the year up on the week

a little bit up on the year and why. yes me up this week and actually down on the year that statement this week by fed chair jay powell just yesterday really move markets up a little bit we'll see what the rest of the year holds and that's our weekly global market round up time now for a quick break but hang here because when we return we'll talk while prices and the price of crude in the u.s. has been dipping below fifty dollars that markets of resilience mark but whether or not but also go below we'll see rocky horror of simple trading will give us her learning to take and contributor of america's lawyer molly barrows will help us consider the earnings report of sticks for the good and the company's move made after that horrendous florida city to stop selling fire as we go to break through the daily numbers from new york at the closing bell back in to play.

i'm going to go camp sundown camp for people that can't decide and they're like so tired. this is like a safe house i guess they don't have to talk about what they go through with us because we understand her daughter katie was diagnosed with a very rare son sensitive condition if i get sunburned i heal she does or she'll patients are going to have problems with the walk to talk to hear some of the brains that are actually shrinking inside their scolded splinter in the brain still small. the pain is indescribable it's feels like a really really bad chemical burn but it goes through your skin into your muscle all the way down to the bone. there's no really close so we're just not to sure

this is what this. new chick with tony you know. i'm a little but i think you might. get a one when there's a real body. gave. one of them one night you should have been this one. i don't want or i can just i mean yes i knew she needed that moved me and i did yeah i am question boom he could feel that he had

a chicken bad going i say he may have to move out of all of the money that he i want to put on time before i don't know. welcome back turning to europe the budget battle between italy and the european union and the resulting increase in yields want to tell you in bonds has made waves in markets now the turbulence in italy's wake is shaking greece as the government there has been forced to postpone their issuance of ten year greek bonds which was planned to follow the end of a large e.u. bailout package to greece of eighty six billion euros it's about ninety seven billion dollars as a result greek investment will continue to remain absent from international capital markets for the forseeable future. and catching up with the race to capture the

emerging market for self driving cars the president of general motors will shift seats to become c.e.o. of cruise that's the unit of g.m. working to develop autonomous vehicles g.m. president mary barra said the change in title for g.m. president. the president will take effect on january first and will quote demonstrate our commitment to transforming mobility through the safe deployment of self driving technology and move us closer to our vision for a future with zero crashes your omissions and zero congestion cruise co-founder and current c.e.o. thirty three year old kyle boyd will remain as crude as president and chief technology officer. and crude oil is having its worst month in a decade and the topic of oil and specially production of oil has been and will continue to be a topic of lively conversation not only at the g. twenty meeting in argentina but at next week's opec meeting in vienna and here to

help us sort it all out and project a path for the future is currencies and futures expert simpler trading rocking or rocking welcome back we sure love having you worst month in a decade my gosh and the price dipped below fifty bucks a couple of times a made it back seemed like a resistance level but seems like quite a month what's your take on all of it. great to be back thanks for having me crude is having an epic month and it's definitely been something that has been on my radar since october i think traders and investors will remember that when we had a pretty sharp rally in the equities markets late october mostly on the g twenty hope the u.s. and china having some sort of tariff ceasefire trade war cease fire crew did not participate in that rally of the major averages in fact from a technical level a lot of folks noticed that it broke through the two hundred period exponential now technicals aside that drop in crude definitely probably is

a big part of the ten week in a row build up that we've seen in crude and also the global economic slowdown we're seeing and also the equities slowdown we're seeing the flat out weakness we've seen overall throughout november in the u.s. equities markets so it really is i mean you know my background it's your background too but i'm a guy who likes to think that price discovery is based upon supply and demand and not you know prices aren't being pushed around by speculators although we need speculators in the markets of course but you're saying that the prices are really a reflection of increased supply at least largely increase supply decrease demand going forward with this potentially slowing global economy right. absolutely but i could read between the lines my friend i hear you saying look there's a lot of shenanigans at play in this market and you are absolutely right is it a pure price discovery right now i think as you mentioned earlier in the show with

the g. twenty coming there's been a pause and oil right above that fifty dollars mark with the opec meeting coming next week there's a lot of hope pm once again that perhaps the u.s. and china figure something out perhaps opec will actually cut one point four million barrels per day that's the nano pet consensus that some of the saudis would love to see russia said yeah we'll go ahead and maybe listen in on that so if we could see a cut like that about swill be very interesting in this market to about fifty eight to sixty dollars and i think it's going to be sold into if and when it happens and you know i've heard this term but i hadn't heard it for a number of year argue a relief rally is the term i heard to today and. in addition to the supply and demand fundamentals don't you think there's some be even just the announcement of something that could really send prices up maybe to that you know fifty six fifty seven fifty eight dollars level could go like that through the end of the

year is that what you're thinking to. absolutely i couldn't agree more and i think that g. twenty could certainly help what fed chairman powell said this week certainly couldn't hurt a little bit of say dollar stagnation couldn't hurt but it's really going to be opec and i think that's why we're seeing crude sort of stuck in a range if you look at it over the past four five six sessions they're waiting on opec and they're being very patient about it because one point four million barrels per day that kind of cut that type of widespread participation in a production cut could be a significant reason for a rally i was looking at gas prices earlier and it's that the price today in the u.s. is to forty nine that's what it was exact same amount a year ago i never would have thought that was the case we'll see how it goes for the rest of the month that we sure appreciate you being with us rodney horner a simpler trading thanks so much have a great weekend thank you. and

all years we've reported on some companies which have chosen to stop selling guns and ammunition in light of the parklane school shooting in florida earlier this year dick's sporting goods is one of its release their third quarter earnings and that policy may have moved in their money out here with more from florida is merely barrow's contributor america where molly thank you so great to see you again dick stock is actually up for the year by about six bucks per share trading today around thirty five and a half dollars but in the q three though they really did lose some revenue do you think it's because of this a policy decision molly. well you know like all stories it seems so simple not so simple probably a little bit a yes and no on that answer and those third quarter earnings report that you mentioned they are down they reported being at one point six billion down one point that's from down from rather one point nine four billion last year now of course

the company is the nation's largest sporting goods retailer and they reported that the sales were down in same store from this time last year and due to big part from declines in sales in the departments of hunting as well as electronics now the drop in sales comes after they made some policy changes after the parklane shooting in florida last february where the shooter nicholas cruz killed seventeen and injured another seventeen now it came out that he had purchased a weapon from dick's sporting goods although he did not use that weapon in the shooting the company did make some changes and in fact they raise the age to buy a gun from eighteen to twenty one they banned assault weapons from store shelves and they also took out hunting supplies including weapons from ten source stores where sales were already low in those areas so it's been interesting the sales were already low so this time last year still low does this mean the for lack of a much better phrase that dicts is going to turn around and go great guns again. actually not at all in fact is the exact opposite c.e.o.

stack has been telling reporters that they're now considering removing supplies from a lot of stores especially where the sales are already slow and replace them with items like sporting goods like the like the name of their store right baseball oriented stuff and license merchandise that's what they were placed in the stores the original ten where they removed their hunting supplies like shotguns ammunition scopes and and it did pretty well so it seems as though there is a trend stack a saying in maybe the market going down a little bit in fact the f.b.i. reported a drop in background checks on black friday related to gun purchases and this comes on the heels of three years where they were breaking records for requests for background checks in relation to gun purchasing the gun manufacturer american outdoor brands core formally known as smith and wesson just a couple of years ago they reported to that they're down about three hundred million dollars from a year ago for their net sales the main reason the majority their revenue comes from firearm sales that's down forty two percent in fact for two thousand and nineteen there not having enough produce as many guns that show so interesting you

know we we couldn't tell one you know wal-mart came out with their earnings report because they also had a you know cut back also they really didn't you could really tell from their earnings report if the stopping of the sale of ammunition in some guns was impacting them but on dick's molly i mean how are they doing sort of overall how is the chain doing. overall they seem to be expanding you know in their third quarter report they talked about opening six new stores they actually have more than seven hundred thirty stores now in forty seven states sixteen percent increase in e-commerce sales so it looks like a lot of the areas the stores that they were impacted like hunting like electronics they were seeing dips in those sales anyway and now that there is a weakness in the firearm market this just makes business sense for them to pull back and it also sort of like what we saw in the nike story when calling paper nick was taken the name and then you saw a spike in sales of his jersey yes nike hooked on to a political hot issue but it was also one that

a lot of people got behind you know here you have dick's getting behind a lot of folks saying hey we need to do more to control guns in this country they took a stand on the park on shooting kids made some policy changes and thus you see it also makes business sense because sales were slow in firearms anyway molly thank you so much really insightful appreciate you spending time with us molly barrows contributor america thanks molly they start. and that's it for this time thanks for being with us we sure appreciate you can catch boom bust on you tube dot com slash boom bust archie so long for now great weekend.

i'm one of them but i think. we're buddies. i don't want or i think it's funny as a nation you know that if you're not a yank kind of whom he could think that he had a chicken bad the night he made a move on to follow the man that you know enough to pull out a. dog like a. will return. chancellor merkel runs who said we have a lot of riches between germany and europe and russia. through two

story groups you see it's quite easy the gravity force. to loop through. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. spearing. a magic to follow only closely i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. when a loved one is murder it's natural to seek the death penalty for the murder i would prefer it be in 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 more executing innocent people is terrifying is just no really hasn't been that we hear even many of the times 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. that. the french police detained over one hundred people a central part of his grip fire yet more andree protests over a fuel prices it's the third consecutive weekend.