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 more reasonable 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 negotiated version of the north american free trade agreement the redone now the us 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 joe suggesting quote battles 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 our reason scottie mill hughes host of news here on

our to america hey scottie 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 was organized for the group has already happened and it's now everyone is returning to their own hotels 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 and 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 the president did have a busy day but not necessarily with who you want to have expected he would have been talking with he did move tomorrow as we know the famous tweet that canceled the meaning if. he didn't move and place wasn't

a german chancellor merkel he will be meeting with her at that time he met with japanese prime minister shinzo and that he had 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 and from glamour print 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 said 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 trump and it's president's not going to try to gather back all of the headlines by actually working with the chinese and coming up with a deal that will end this trade war that's been going on that might be the limit nato 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 think 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 debts the economy took a severe plunge 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 a fault 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 two thousand and 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 weiss 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 the paper on this so you know everything about our i mean as daniel 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 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 on the market so there would be the reason they went there and 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 month 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 what 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. . it is 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 signed the agreement they said the economy i mean if 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 that they 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 right 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. australian one hundred that end down but just a very little bit and moving to mumbai to india the sensex 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 of 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 vest 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 t.s.a. x.

was up a little bit but down on the year 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. see 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 the brazilian market but whether or not we will go below we'll see rocky horror of simple trading will give us we're learning to take you on contributor of america's loyal molly barrows will help us consider the earnings report of dick's sporting goods and the company's move made after that horrendous florida to stop selling fire as we go to break through the daily numbers from new york at the closing bell will be back in

a place. called camp sundown to get for people that can. and their legs so vampire. like a safe house i guess they don't have to talk about what they go through with us because we understand our daughter katie was diagnosed with a very rare sun sensitive condition i get sunburned i hear she doesn't feel they should see some problems to talk to some the brains are actually shrinking inside the skull gets weaker 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 in your muscle down

the back. there is no relief. so we're not sure this is historic. donald trump following doubts of a meeting with vladimir putin doesn't seem like a big deal given the already poll states of affairs between the two countries of the manner in which it was cancelled over twitter may sting the kremlin more than the consolation it sells is the mystical truth in a bromance finally. is finding this out the need. for an authorized by again guardian council jolly. gas is. going to employ him

to go to break. the most a month. if you get the phone and you know how to find the bus was you. get out. and write down the bank call for the work on base walk or chemical lights and as our business is going to go he would develop a new treatment in time mary snow know that these industries out of polluting your dissenting ignored your money their time and money. and when we lost a mother of one like means we lost even this. the

way to the united states is dangerous for most of the illegal immigrants. close to us just a little simple they want to become lost it. enter another one the last post on this topic but as many of them look for refuge in the so-called sing tree science the draft used to share information about undocumented migrants with federal authorities the best person to ask than. this little boy and the best i got i mean a lot less than that but that. was as an option is to stay in the country with donald trump in the one town over for the cardinals the both of you what is the who beat up to the. a said struggles of many couples alone. what chance of putting food in those bundles both of you that those of you that most of the.

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 clues 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 emissions and zero congestion cruise co-founder and current c.e.o. thirty three year old boy will remain as crude as president and chief technology officer. crude oil is having its worst month in a decade on 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 rocky horror rocky 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 cruz is having an epic month and it's stephanie 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 the g twenty hopes of the u.s. and china having some sort of tariff ceasefire trade war cease fire crews did not participate in that rally of the major averages in fact from a technical level a lot of folks notice 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 saying that 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 and 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 an increased supply at least largely increased 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're absolutely right is it a pure price discovery right now i think as you mentioned earlier in the show at 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 e.-m. 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 non opec consensus that something the saudis would love to see russia had 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 in two 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 the 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 too 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 and production cut could be a significant reason for a rally i was looking at gas prices earlier and it's 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 rocky horror 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 parkland school shooting in florida earlier this year dick's sporting goods as one of its release their third quarter earnings and that policy may have moved in their money out here with more from florida is mostly boroughs contributor america where molly thank you so great to see you again dick stock is actually up through 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 and departments of hunting as well as electronics now the drop in sales comes after they made some policy changes after the parking shooting in florida last february where the shooter nicholas cruz killed seventeen 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 tents or 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 it's the exact opposite c.e.o. ed stack has been telling reporters that they're now considering removing cutting supplies from a lot of stores especially where the sales are already slow and replace them with

items like sporting goods like 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 that and it did pretty well so it seems as though there is a trend stack is saying and maybe the firearm 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 or two thousand one hundred they're not even going to produce as many guns that's 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 cutback also they really didn't you couldn't really tell from their earnings report if the stopping of the sale of the ammunition and 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 caper 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. one is we're buddies.

i don't want that or i can just i mean yes i knew she couldn't do that with me and i had to yeah. it's kinda any kind of became a bad thing when i made a move of the one that you know enough to fulfill that i think. we should start. to discuss where we can put chancellor merkel runs who said we have a lot those who choose between germany and europe and russia. to destroy a group uses quite easy and very far. but to loop through. when

a loved one is murder it's natural to seek the death penalty for the murder would it be going to the death penalty to. 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 the is just no really that 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.

to. the. central europe just earlier on in our t. correspondent shot of the leg of the rubber bullet during mass protests he is saying that in paris where police dispersed tear gas tried to contain thousands running against rising fuel prices and taxes for a third weekend with all the lights. coming up to. president spots in an.