tv Boom Bust RT December 12, 2018 3:30am-4:01am EST
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would just sit. here you know. he's. got the soup but i've got. my you know. little bit closer oh he's not here to help with this but him how he thinks that there's some way the best was nothing else but i'll let you. join me every thursday on the alex salmond show and i'll be speaking to guest on the world of politics sports business i'm showbusiness i'll see that. what politicians do something to. put themselves on the line. to get accepted or
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rejected. so when you want to be president i'm sure. more some want to. let you go on to be prosperous like them before three of them or can't be good. i'm interested always in the lives of my colleagues. for sydney. welcome to maximize your financial survival guide. looking forward to your pension account. yonks this is what happens to pensions in britain. you watch kaiser report.
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this is prob us broadcasting around the world and covering the world of business and finance and the impact the interesting and important impact upon all of us i'm part children in washington thank you for joining with us we're appreciative coming up today not too far from here today google has been in the hot seat as members of the u.s. house of representatives got on their pedestals and grill but company's c.e.o. steve malzberg until we're standing by to discuss and as we close in on the end of the year and markets seem to be reacting more like a roller coaster is that anything else we talk to market volatility with. the president and c.e.o. of signature profits and speaking of hot seats there is more boeing bad news as the aircraft maker continues to be plagued by problems with the seven thirty seven max a jet we've been telling you about for the last month former national transportation board official jamie financial joins us with the latest from the philippines from manila and he's done it again tesla c.e.o.
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on must continues to prove he's not only a great innovator but his old worst enemy the car coach lauren fix will join us and address his most recent messy missteps and look to other auto related news today all that directly ed but first let's have some headlines let's go. to. the intersection of business and politics and the internet leads our global report today as the chief executive officer of google sundar pic k. faced questions from the judiciary committee of the u.s. house of representatives and not too long ago when the senate intelligence committee in vital google to send a senior representative to a september hearing on cybersecurity and social media google refused to send mr k. or his predecessor and co-founder larry page in that hearing senators memorably put an empty chair at the table in place of mr k. mr mckay attempted to tamp down concern for human rights groups. about google's
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reported plans to build an internet search engine designed to accommodate chinese censorship called project dragonflies mr mackay did not debunk the allegation instead saying quote right now we have no plans to launch in china right now he said and the hearings came less than twenty four hours after google announced that the information of fifty two point five million google plus users including names e-mail addresses occupations and ages has been compromised and google will close the social platform by april of next year joining us take a closer look at conservative commentators steve malzberg and hilary ford which is c.e.o. of strobe mark and guys thanks so much for being here appreciate both of your thoughts on this going forward steve i caught some of the hearing and there were a few fireworks what were the questions that you saw from the committee that merited our boom busters knowing about today well you know he started by saying i run this company without political bias because he anticipated what was coming
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mostly from the republicans accusations of bias against conservatives and well documented in many cases but so loft grid democrat from california asked him a question which i was unaware of why when you put the word idiot in the search engine and you google it and you get go to image is why does donald trump come up he had no answer for that then the republican jim jordan as you might expect he went after an e-mail that was written right after the two thousand and sixteen election by the head of the multicultural outreach for the company that bragged about we got out the latino vote in key states which turned out to be nevada and florida he was asked about why that it would ever be how they do it and then he read from the e-mail they helped pay for rides working with groups like voto latino to get people to the polls they also bragged in the e-mail as she did. about how
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they manipulated or configured their features to help get out the latino vote he denied it all he said we looked into it it never happened and jordan was incredulous said are you calling or a lot of you did this making it up didn't happen didn't happen and one more lamar smith congressman from texas republican said algorithms one study has shown that hillary got two to three million votes based on your algorithms extra votes that she wouldn't have gotten because of influence another study shows you google donald trump only the top ten stories are all from liberal publications who programs your algorithms he said no human being can possibly program an algorithm which i found shocking as well so he face of fire yeah well these. and i'm not going to swing at the first softball about it steve you tempt me bushmills no sir not go in there but you know these algorithms that you know they are the it's
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a source code that they set up i know a little bit about this from trading i mean once you set up the parameters know the parameters an individual certainly can set up but once it starts moving and morphing and using sort of a i then it's really off on its own at least that's how it's been described to me hillary notwithstanding some of the things steve said which don't sound like he did too well how did you think the c.e.o. did well first of all thank you pleasure to be here at least he was able to get out of his car which is more than we can say for theresa may when she went to meet. so but he obviously look he's smooth and he was delft in terms of handling all of those that interrogated him because number one he kept saying i'm happy to answer that question and then he would give in on the that was diametrically opposed to being happy so he had been i the coach brilliantly oh he's quite brilliant at deflecting the very purpose and point of a question actually when steve mentioned long. and he was totally right about what
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she said but she also spent more time talking about the fact that amazon wasn't going to locate in her district than google has so really i felt like almost every single politician including kevin mccarthy a republican most of them were just really trying to butter him up i felt like and i felt that everybody really went rather soft on him we were expecting a terrible interrogation and that's not what it was and so he was able to sidestep every single question that he received you know it sounds cynical but it's true i mean sometimes these no answers are what they do and i know for a fact google has a huge lobby shop here in town and so that they are they do the murder boards where they give all the toughest questions and tell them how to evade and that's nothing unique to google that's how this plays on fortunately operate it's how it works and he said about evade if you take any subject and you don't want you to be deciding to do this take any subject about any of our audience take any subject place put it
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into google and see which network responses come up with that you know the number one prime time network is it's fox but you will not see that on google so what's that about any topic and the prime time number one network doesn't come up there you can tell yourself saluted let me ask you steve did this whole issue of privacy come up i mean you know that seems to be the key thing i mean i know i heard a couple people ask you but i mean this is a big deal fifty two point five million people their information leaked i feel like we're just reporting this stuff and it just goes away what do they say today well yeah i think that that played a secondary role that bess and i think you're absolutely right i think we are so used to it now and we expect that anything we put out there is not going to be secure and we do it at our own risk i think where it did come up is in discussing future regulation and by the way in his. and he said that he's welcome and open to
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regulation and working with regulators in this country and elsewhere around the world which is and i get it now the smart thing to say but his idea is i think and i'm pretty sure the difference is he wants the user to have to opt in to having their privacy protected whereas regulators eventual you get a pass regulations i think that makes an incumbent upon the platform to make sure that that's protected without the opted feature but it didn't play as big a role today as you might have thought it would have i agree with your assessment by the way i think that's where they're going to go you have to opt into it we're all out of time off to leave it here for now but thank you so much hilary ford with steve thanks guys appreciate it welcome pleasure. and major financial news from india as the governor of the nation's central bank has resigned the resignation of the governor of the reserve bank of india birgitte patel was reportedly prompted by mr patel's concerns about prime minister narendra modi's
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infringing on the independence of the r.b.i. with demands for relaxed monetary policies and lighter and forstmann for india's troubled state banking sector you know what that's like in the us mr patel's resignation follows the exit of a number of senior economic adviser to president to prime minister modi the indian rupee fell sharply on the news taking the largest percentage of change among asian currencies against the us dollar this year. and turning to africa regional cloud computing giant liquid telecom will receive an investment amounting to one hundred eighty million dollars from the united kingdom's commonwealth development corporation or c.d.c. c.d.c. formerly the colonial development corporation is a public limited company or p.l.c. and an organ of the u.k. developments for international development government for international development liquid c.e.o. touted the new investment as a means to expand the company's fiber optic network in africa which a united nations body found last week to have the world's lowest rates of internet
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access the chief executive of c.d.c. characterized the deal with liquid as quote pretty close to our biggest investment ever according to the financial times. as the year closes out markets have been on a rock and roll roller coaster hill talk about market volatility is the president and c.e.o. of signature profits andrew keen and you're welcome we're so glad to have you thanks for joining in before we get volatility we're just talking about google of course their parent alphabet is the stock and it is down year to date but actually up just a little bit for fifty two weeks it was trading lower for much of the day during that hearing on capitol hill at around one thousand and fifty six dollars per share is alphabet a buy from your perspective. currently i don't have a position on it i'll be looking to play it for earnings which is the end of
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january and i'm going to look to get long it i think here you know a reward or risk that up looks pretty good recent lows of a thousand dollars we backed it out about six months down to about nine eighty four i think it's a buy here i think it goes up from here forward p.s. twenty two which is in line with ass and p. s. got so much negative press which was going out of capitol hill and what's going on with the database. but i think google is a buy here i do not currently have a position. let's move to volatility that's sort of related to google which has been volatile but we had some high volatility of markets earlier the in this year and that again was crazy for a couple of weeks and we see back to that higher a lot of level of volatility now is this sort of the new normal as markets try to find some sense of balance. definitely the new normal one thing i look at the c.b.s. volatility index known as the vix and you know twenty is a high historical number and we get these rallies usually when we get rallies the
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vix goes lower when the market sells off the vix goes higher the vista stay in at twenty two what that tells me is that movement is here to stay i don't know how long it's going to be here to stay but movement here to stay you look at today we opened up thirty points mass and p. five hundred futures in four hours and we're down twenty that's a fifty point move i've been trading almost every day for sixteen years volatility that moves this much throughout the course of the day basically i know really key important news is unbelievable volatility creates opportunity is a trader it's crazy the moves we have i was looking at between now and the end of the year they're implying the ask and p. five hundred futures are going to move a hundred points either to the upside or the downside i'm leaving bullish but volatility is here to stay keep an eye on the number on the victim alcatel you have volatility going to keep moving going forward i mean the only news that was out today that really seem to have any. impact was the president's meeting with nancy
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pelosi and chuck schumer that didn't go gangbusters but who would have thought otherwise but let's talk about you know we always talk about the impact on average traders on average people when there is less ball syllabi and markets average traders seem to pretty much get comfortable dealing with markets but they're not high speed traders so when there's a lot of volatility like today you're talking about you know these changes could happen really quickly if there are you know off buying gifts are out big move could be made so how to average traders deal with higher volatility yeah a hundred percent these moves are being made by high speed traders anybody that says they're not is crazy you know we sold off fifty points from the highs yesterday we rallied fifty points from the lows the high speed traders are in control they're taking control of this market the way i personally trade in a higher volatile my environment i have smaller positions on so you usually have a pretty big trade one hundred to three hundred options at a time now i'm training a lot smaller because my p. and l. swings are going to move so much so as
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a long term investor pick and choose your spot realize if you buy google today you might not have to buy a whole position you might get an opportunity to get into it under nine eighty if you buy apple you might have an opportunity to get in that one fifty five one fifty so average for a long term investor and as a trader which i am trading a small they're trading smaller quantity than i normally am is the right way to play it we're all out of time this time but we sure appreciate you coming on and i hope you come back you're really helpful and lots more questions we discredit the surface we'll get to it again and your kid president c.e.o. of signature profits thank you andrew thank you so much. and time now for a quick break but hang here because when we return formal national transportation safety board official jamie hince will join us from the philippines of manila where the latest bad news about boeing is related to those seven thirty seven max jets will be discussed and the car coach lauren fix will join us and discuss. on the most most recent messy missteps and look at other auto related live as we go to
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break here are the numbers at the closing bell we will be back you know what. seems wrong but. just don't call. me. yet to shape our disdain comes to council. and engagement because the trail. when so many find themselves worlds apart we choose to look for common ground. u.s. secretary of state mike pompei always declared multi-lateralism in international
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affairs a failure what is needed according to him is a new liberal order led by the united states such an order calls into question some important issues does this mean the universal is ation of american law and limited sovereignty for the rest of the world. welcome back turning to turkey the latest official economic figures show growth slowing the turkish desisted index reports that in the third quarter of this year turkish growth was measured at one point six percent that figure came in below expectations in a reuters survey of two points or two percent and was far it was a real sharp listen to this fall they were at in the second quarter five point three percent huge drop analysts that i n g bank reported that after seasonal adjustment the latest figures actually show
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a contraction of one point one percent compared to q three of the previous year and warned a downward trend is likely to continue the risk of a recession in turkey's near future now appears quite strong. and jumping from the western edge of asia to the east japan's economy is also contracted in your eyes rate of two point five percent in the third quarter that figure is the worst for japan's economy in four years the number was also worse than an initial estimate of one point two percent contraction and private analysts expectations of one point nine percent figure. we interrupt this episode have been best to bring you some breaking news from the u.k. where a vote of no confidence has been triggered for the british prime minister it means at least forty eight letters have been submitted by british conservative m.p.'s have called into doubt to raise a maze leadership what reason may is now making a statement outside number ten let's listen in life and now as prime minister. i
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stood to be a leader because i believe in the conservative vision for a better future a thriving economy with nowhere and nobody left behind a stronger society where everyone can make the most of their talents always serving the national interest and at this crucial moment in our history that means securing a brics it steal the delivers on the results of the e.u. referendum taking back control of our borders laws and money but protecting jobs our security and our precious union as we do so. through good times and bad over the last two years my passionate belief that such a deal is attainable that a bright future lies ahead for our country has not wavered and it is now with in grass. i spent yesterday meeting chancellor merkel prime minister president sky and president to address the concerns that m.p.'s have with the backstop and we are
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making progress i was due to travel to dublin this afternoon to continue that work but will now remain here in london to make the case for my leadership with my part . an entry colleagues. a change of leadership in the conservative party now will put our country's future at risk and create uncertainty when we can least afford it a new leader wouldn't be in place by the twenty first of january legal deadline so a leadership election risks handing control of the brics in negotiations to opposition m.p.'s in parliament the new leader wouldn't have time to renegotiate a withdrawal agreement and get the legislation through parliament by the twenty ninth of march so one of their first acts would have to be extending all rescinding article fifty delaying or even stopping breck's it when people want us to get on with it and a leadership election would not change the fundamentals of the negotiation or the
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parliamentary arithmetic weeks spent tearing ourselves apart will only create more division just as we should be standing together to serve our country none of that would be in the national interest the only people whose interests would be served are jeremy corbyn and john mcdonald. the british people want us to get on with it and they want us to focus on the other vital issues that matter to them to building a stronger economy delivering first class public services and the homes that families need these are the public's priorities and they must be the conservative party his priority is to we must and we shall deliver on the referendum vote and seize the opportunities that lie ahead but the conservatives must not be a single issue party we are a party of the whole nation moderate pragmatic mainstream committed to reuniting our country and building
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a country that works for everyone the agenda i set out in my first speech outside this front door delivering the bricks it people voted for building a. country that works for everyone i have devoted myself and sparingly to these tasks ever since i became prime minister and i stand ready to finish the job. ok we've just been listening in live to to resume a speaking outside downing street there where she's making really what is a last ditch effort to remain the prime minister of the u.k. as you make the case for her leadership this evening when she faces a vote of no confidence will be bringing you all the latest updates on that she did say she ended on the note that she stands ready to remain in her position as the prime minister. ok well continuing with our breaking news now just an update
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a vote of no confidence has been triggered for the british prime minister as which has heard it means at least forty eight members of trees and party have called her leadership into question the votes will be held later this wednesday at six pm local time it's unclear when the result will be declared though at this point to resume a house come under fire recently after she delayed a crucial vote on her brags that deal admitting that she would likely have been defeated both remain as an leavers in the u.k. have criticized her handling of the braggs it process. to raise them a house that as you just said been in berlin already this week in a mission she described as the bringing the concerns of the british m.p.'s to the u.k. as european partners she met with several european leaders as well as the heads of the european commission and council however it seems not everyone with clear on the agenda of the meetings to deal we have achieved is the best you possible only cost them so we can look.
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thank you. for. the european commission size it will not agree to go shake with her and the prime minister concedes she is not negotiating. so what on earth's history doing travelling from capital the capital in europe it can't be christmas shopping i'm sure that's not the case so what on earth is she doing in europe but worse than that mr speaker it shows once again she is not listening what i've been doing here in europe the past day is actually doing what i promised parliament i would do which is to speak to other leaders in europe about the concerns parliament raised about the backstop and what has been shown to me from those meetings is that there is a shared determination to deal with this issue and address this problem. this is of course the big day for the british public can't of course the repercussions will be
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felt across europe will be bringing you all the latest on this throughout the day. in other news now or thirty's in the protestors have found themselves on the wrong side of the law. continuing with other stories in the news now where protesters in the u.k. are found themselves on the wrong side of the law let's take a listen to their story. a group of british activists known as the stones to fifteen cut the airport's perimeter fence and surrounded a plane stopping it from taking off the undocumented immigrants who were on board who were to be returned to nigeria and ghana and sierra leone following
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a nine week trial a jury found the stance that fifteen the protestors guilty of intentionally disrupting flight services at the airports well since the charges are considered terrible lated the activists could technically face life imprisonment the group will be sentenced at a later date after the hearing we spoke to one of them. along with fourteen other people twenty eight last year through offenses. gain access to a very remote. tight ourselves around a plane that was due to poor around sixty people to nigeria and ghana later that night we were there for about ten hours. and then arrested we don't know what's going to happen but what we do know is this charge should never been brought against us it should never. have been the home office it should be in that building just over there this is simply an anti terror piece of legislation that's what it was in for and the fact that it's been used against peaceful protesters is remarkable. we need to continue the fight against a brutal secretive barbaric barely legal charter flights the ones that we.
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that we targeted and. i guess that's the thing that's that's enough right now that's that's what's at the forefront of our mind. authorities in the u.k. laid out their reasons for pursuing the conviction of the protesters. these people place themselves the flight crew airport personnel and greece as serious risk of injury or even death due to their actions on the airfield the crown prosecution service worked with the police to build a strong case which reflected the criminality of the defendant's actions regardless of their motivation. then the u.k. many public figures including m.p.'s have backed the activists into calling on the government to stop the deportation flights and calling for activists to be spared from prison saying they should be supported and not punished but while the protesters found themselves on the wrong side of the law is clear that many see their campaign as justified we heard from political commentator david vance and
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chilled by the who is a set social justice campaigner. here we heard of one bunch of lawbreakers because another bunch of lawbreakers are being deported i'm not sure what the problem is here it's not a question of taking the sledgehammer to break and not as a question of enforcing the law the fact is that they set out to break the law of which they were fully aware in this country if you break the law you pay the consequences thirteen of the people on that flight are still in this country and the number of already being given indefinite right to remain we have a crazy system in this country where a so-called hostile environment was intentionally created by the previous home secretary theresa may who's now the prime minister and part of that has been you know these barely legal flights that are clearly brutal and uncompassionate and many of the people on them still have opened up here to these people acting to prevent people illegally being taken out of the country it's
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a horrible situations it's quite clear given the countries from which they come from but if they were seeking asylum which of course they're not there because they've been defined as on documented immigrants i.e. . illegal immigrants are simply not a lot of liner so it's a little safe country if i can finish my point i'd like to finish my point place so so they these people are quite clearly and i'm sure george understands this they are illegal immigrants and i agree with george in one regard live russet description that this country takes so long to remove these people who should not be endace country in the first instance they think they should have been arrested as they were and probably charged with aggravated trespass and then they have their day in court to make their case as to why they were acting to prevent further harm and the problem in this case is that the judge effectively prevented the jury from considering their motivation and so these people are being charged with an irony or that was joint into deal with terrorism and whatever you.
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