i. this is boom bust broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm part children of washington d.c. thank you for being with us we are sure glad to have you coming up today we take a look at some google patents that are pretty troubling with conservative commentators the malls plus artes caleb mop and considers the electric car battle between the u.s. and china and is it time to get over opec will give you some background and my take and we take a look at gaming with our t.v. america's right job or and finally if i have the guts i'll provide a little financial poetry this one on currencies all of that coming up but first we

get some headlines with no brito let's go. a disappointing initial public offering for one of the biggest names in japanese tech and global finance leads our global report today the i.p.o. for stock in softbank corp the mobile phone unit of the softbank group raised twenty three point six billion dollars worth of capital but over the trading day share prices fell fourteen point five percent from their initial offering price of fifteen hundred yen fall created a loss on paper of roughly nine billion dollars in value the i.p.o. now ranks remarkably as japan's largest and second most disappointing just behind the fifteen percent fall in stock of japan displayed on their on the day of their march twenty fourth i.p.o. the i.p.o. was an important step in softening foundered must be someone's reported plans to shift bank from tech to finance suggesting that the combination of boom and bust in one day. may create long term problems for softbank. and in breaking

finance news the u.s. federal reserve will raise the best benchmark funds rate by a quarter of a percentage point to two point five percent the federal open market committee unanimously approved the increase the fed's fourth rate hike this year. facebook has been hit by yet another data sharing scandal the new york times reports that records from facebook's internal system for tracking partnerships with other corporations reveal that facebook violated their own stated privacy policies by sharing user data with over one hundred fifty companies including names such as amazon netflix and yahoo without informing facebook users facebook previously denied such sharing many times most recently in june when facebook denied a similar report in the times in two thousand and eleven the company entered a consent decree with the us federal trade commission that was specifically

intended to prevent sharing of personal data without user consent facebook's director of privacy and public policy denied that the reported practices violated the consent decree or facebook stated policies i. i. think you've had your privacy compromised by the likes of google facebook and other social media platforms well brace yourself for what might be coming down the road google has recently received patents that could enable it to spied to spy on you and your family throughout your home but unprecedented levels much worse than we've come to expect that in some cases even except joining us for the lowdown is conservative commentator steve malzberg thank you for being here steve oh yeah i'm watching you by the way absolutely i mean it seems like all of us are being watched this seems like a big huge hairy deal as it is. it wait is and you know we all know that we are our

information compromised our personal information from facebook and other platforms and we've come to kind of almost accept that we know that that people are watching us we cover the the computer screen camera that we have with tape we take all we beat them we get them to smart t.v. we cover that camera of now we can we can do whatever we know it's not so bad so fast i mean what the patents that google is is is seeking and it's no guarantee that this is what's going to have but the patents are seeking puts all that to shame it's almost as if that's prehistoric flintstone stone age stuff you know and this is going to be the next generation of spying eavesdropping stalking in your home listening picking up on things that you're say every and so you say hey we're going to go out to t.g.i. friday and all of a sudden you pop on your phone and there's an ad for t.v. however i those sensors of your home becomes a smart home and let me give you an example how this you know where and that the

atlantic side of this example you're wearing a t. shirt and the t. shirt has your favorite movie star on it ok they pick it up they decide they the people that are spying on you know that he's going to be in a movie that's coming out a couple of weeks they said and you you know you all of a sudden you go along on to your computer and all you see are ads for the movie starring the guy who's on you a t. shirt that it's insane it's insane and you know it reminds me steve you may recall the story it was a few months ago early in the year were amazon had a patent to actually put people in cages individuals and cage right and it actually sounds worse than it was when you looked at it what it was is you would put somebody in a century a cage but they're moving around picking up different products for delivery but the whole thought of your putting people into cages after all the other you know making sure there are no bathroom breaks etc well i am a. don quickly came out and said well we're just getting the patent don't worry

we're not really doing this do you think google might go that way or is it still not known or is the conventional mainstream media not talking about this enough for whatever reason that they don't yet feel the heat at google i don't think they feel the heat yet but again you know people are going to have to put these products in their home i mean these are cameras and sensors you know well we know we even know that sure but that with facebook and the and the other invasion of privacy the cameras we know that is a risk if you say something to alexa but again we've accepted that with the with the different kind of listening devices that are in the house i think google will face more scrutiny but people will be putting these things in their home so they will be made just can't happen without you putting making your home a smart home you will make a conscious choice to do this and then suffer the repercussions it makes me think of. in our national viewers may not recall this but

a senior advisor to the president is kellyanne conway and she got a lot of crap early in the year for talking about people spying and she said they could spy from the microwaves and saturday night live and john oliver all made made thought of her but the truth is she's probably basing this upon an intelligence briefing and the you know this seems sort of crazy stuff but here google is seeking patents and what about our kids i mean they're got me kids they're not thinking about these things they're going to be affected to the kids they get to spy on your kids for you and they're going to help you raise your kids in effect this is a complete better than a babysitter could ever do and they're going to do it using all kinds of you know the most sophisticated equipment so your kids are home you're not home you want to know where your kids when they go to the liquor cabinet do they go through your personal belongings you'll be able to know that you'll be able to see that they'll be you could program it so that a red light will go off a siren will go off if the kid approaches a place that you don't. on have to go so he'll they'll be scared they'll run away

they'll know they were caught they could get your ip address they could sense moods moods of your kids moods of you by laughter in the room by crying in the room by the tone of the voices in the room. it's all encompassing it's all the compassing and it's all to sell information to advertisers insurance companies financial institutions you name it and we're the ones who are going to lose our more of our privacy so i guess i'm glad you said that because at the end of the day the businesses are doing it for the bottom line they are doing it for money they have a care what you and i do in our bid are they they're not they're not in a bad it would be very boring for me but the bottom line is once government regulates these things and i have government regulator i know this stuff that all the sudden you're obtaining private you're abstaining information from the companies that you regulate that it's not i know it sounds like a conspiracy thing but it's not all that far we do it now with cell phones are

remember there was a whole big deal with apple earlier in the year where the fellow who had shot a bunch of people in california had i want to get into his phone or they went way out of the way yeah but so that's an emerging area of the sea right now you can bar the way i know when our family got our new phone service one of the things they offered was to track your car and how fast your car was going and if that violated the speed limit and how sort of like i think geico had this on your monitor your driving habits yeah to determine your insurance rates. companies will do this and you actually could like put it on your kid's oh i had our thing on my my son and i got under just clothes or you know your son better one of us you know and i told of you don't like it get rid of the app but he won't because he wants to monitor me too but you could see how fast they went and how far they drove and went yeah it's all out there will have to be careful folks we have to be there. boy

fascinating discussion and a little spooky mauls burton commentary thank you. we try to electric vehicles and you might be surprised but it's really china versus the world here to talk us china expert r.t. correspondent caleb market hill thank you for being with us sure thing so let's talk first of all about what's going on in china they really are telling me going great guns with electric vehicles well you'll have seen that recently it was announced by lawrence kudlow at the from the white house that they're going to be cutting the subsidies to electric cars that were set up during the obama administration they're going to be cutting those back but in china there speeding forward there have been billions of dollars spent by the chinese government in recent years to in efforts to really promote electric cars at this point a lot of major cities in china are going to all electric buses all electric taxis

and just trying to phase out fossil fuel vehicles and it's been a big effort that they've put and this really points to the fact that china is a little bit vulnerable when it comes to the oil and fossil fuel markets right we know they're an oil importing country and a lot of that oil comes from other countries where there is a lot of question and part of the reason they're very anxious to control the south china sea is to make sure that those oil tankers continue to flow in a lot of a lot of the oil that comes into china is very very vital and if they didn't have that oil things would things would go quite difficult for them now they're also exploring the possibility of starting to produce their own l.n.g. at different different rates higher levels but this push for alternative energy is quite interesting it's had an impact on the minerals markets in particular the demand for for the minerals that are used in electric car batteries has vastly gone out is that these things they call earth minerals. and they all involve things like

cobalt and things that go into making up these big heavy duty batteries that end up being a large part of the weight for these electric vehicles right sure and a lot of the countries that china is investing heavily in in africa is where you can find these particular minerals that are vital in the electric car markets but i mean some of these experts have come forward and said when it comes to electric cars or what they call new energy vehicles in china when it comes to that no one can really compete with china i mean we've got we've got it here but nothing compared to what they've got they've got some really really innovative designs they are producing that huge amounts that mean the record amounts of been sold just in the year of twenty seventeen was was quite high way up from the previous year people are kind of blown away at the level of priority that they're giving to that and part of that is about making sure they're not dependent on the fact they have to import fossil fuels is a weakness that they have you know it reminds me it's not just the government as you say of the u.s. government it's pulling back with the tax credits and other incentives for electric

vehicles g.m. recently announced they are cutting back on their chevy volt which is one of their more popular vehicles among those who liked electric vehicles but we've got tesla there you know is a public company in the making large strides even though they've had a rough time of it but when we talk about where you can use these electric vehicle vehicles lauren fix the car coach that we have on the program all the time says look in iowa they're not going to have plug ins how are they dealing with that is an electric vehicle are just going to be in the major cities in china they're expanding access all over the country and actually it was recently pointed out by one of the executives of the black berry corporation that not only is china ahead when it comes to new energy vehicles and electric cars they're also cutting edge when it comes to driverless vehicles and they're really pioneering that market in particular and they see that as a huge breakthrough if they could start transporting things across the country without. driver's that would be

a huge breakthrough when this executive and blackberry when they looked into it they said compared to other countries they're going to be way ahead if we ever cross that threshold exciting stuff caleb often are trying to expert party correspondent thank you thank you. time to squeeze in a quick pause for the cause but hang here because there's lots more to come including a few more headlines with daniel britto when we return and as we go to break here are the numbers at the closing bell we will be back in a flash. china

much bigger economic power or much will or will inter. i think. you have to live with it. and there's lots of advantages that the europeans jethro but as well as america. you know world a big part of. this and conspiracy it's time to wait to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.

in the latest news on europe's response to the united states is abandonment of the two thousand and fifteen international nuclear agreement with iran switzerland is close to unveiling a financial mechanism to enable sales of humanitarian supplies to iran the swiss project aims to implement the exceptions in u.s. sanctions for sales of food medicine and is expected to be accepted perhaps to be gradually by washington switzerland is not a member of the european union and their plan for humanitarian relief for iran is separate from the ongoing effort by the e.u. to create a so-called special purpose vehicle to evade u.s.

it sounds to bar brothel water commercial relations most know the notably an oil switzerland also has a wall develop. drug industry a spokesman for notice was just swiss drugmaker roche told the financial times that the company is aware of the discussions between tehran washington and burn but also said quote to our knowledge no concrete proposals have been made. there is more news in the bankruptcy of storied u.s. retailer sears bankruptcy judge robert drain of the southern district of new york has approved a plan from sears holdings to pay out twenty three point five million dollars in bonuses to the executives who were at the helm for a series as bankruptcy and who have presided over one point nine billion dollars and declared losses for sears so far in two thousand and eighteen at the same time sears as plan approved by judge train would deny severance to sears employees who those executives plan to put out of work sears now has court approval for their plans to make five thousand four hundred fifty seven workers unemployed the chicago

tribune reports that sears will inform many of those employees of their new status before christmas. in the wake of carter's exodus from opec and the rise of russia in the oil sector some are asking is opec's time up to better understand the situation the fossil fuel sector will break down the details and ask is it time for the world to get over opec. opec the organization of the petroleum exporting countries in a few non opec members namely russia met earlier this month and agreed to cut their production by one point two million barrels per day the move comes as the international energy agency estimates a reduction in oil demand for next year or twenty nineteen will the production cut increased prices as the oil rich nations would like it remains to be seen but don't count on it for many decades with the largest oil reserves in

a majority of global oil spigots and acting as a mostly cohesive cartel the dominant player has. obviously ben opec the rest of the world as countless complains have moaned has been held hostage to their price whims with the resultant impacts on national economies however the sensor shifting and opec is neither as cohesive nor as powerful as they were back in the day without russia joining in opec efforts the once power per cartel would not have any real ability to move prices in a major fashion consequently it's time to refocus our attention on u.s. energy independence and heat a line from that old eagle song all this whining and crying in pitch in a fit get over it get over it let's get over opec the us saudi and russia are the top oil producers together accounting for roughly forty percent of the global

production total the us however has greatly increased its influence according to the energy information administration late last month the us became a net exporter of crude and crude related products for the first time since at least ninety ninety one or oil supply is exceeded stagnant demand for roughly four years as oil containers around the planet are teeming to the tops including tankers of liquid storage on the high seas the oversupply has naturally reduced prices just over two months ago west texas intermediate w t i o oil was trading at seventy five dollars per barrel in early october but has continued to drop trading around fifty dollars these days as for average gasoline prices in the united states it's around two dollars and forty cents per gallon that's a nickel less than a year ago all of this is a result of opec's decreased influence and the greater influence of the united

states and russia in the past opec has produced over sixty percent. of the global oil the group which includes many member countries outside the middle east namely venezuela and other south american plus some african countries doesn't have this historic influential impact they did before in the days of yore in one nine hundred seventy three zoila embargo for example opec actions resulted in a normal economic damage to the united states and several other nations the reduced opec global production percentage is due in large part to production increases elsewhere including as i said russia and the us plus china canada and mexico the bottom line this time is that while opec is still a significant and serious contributor to prices their cohesion an influence has been reduced rather than wringing our hands at what they may or may not do going nuts at every nuance we should focus on what we in the u.s.

do best allow our free market flag to fly and flourish focus on ensuring prices will continue to be discovered fairly and fundamentals will be based upon supply and demand not manipulated in the market focus on being able to continue to develop greater energy independence even as low prices make that a rougher and tougher task and importantly we should appreciate that energy cost impact real people many with honest businesses outside of the energy sector which have benefited from lower energy costs opec remains important and will continue to cover what they do but things have certainly changed in the oil sector. if you follow sports you have surely heard about the multi-million dollar advertising and sponsorship deals of the n.f.l. n.b.a. and other major leagues but there is a new frontier in sports it's called e-sports the world of professional video games

will be a billion dollar industry and twenty nine teams but who are the advertisers and who are they targeting. r.t. american producer brant brewer joins us to explain thanks for having me brant good to have you on the set so tell us who are these e-sports fans and why are advertisers looking to target that well. actually so fall into the same demographics of traditional stick and ball sports fans with only about five percent of e-sports fans being outside of the bubble of say a traditional like the n.f.l. fans or something like that they're also really young thirty percent of them under the age of eighteen and that you know may seem kind of on the surface level like you say this is the kid's department but in reality it's great for advertisers because they're saying we get i'm young and this is going to be a long jeopardy thing you know is going to keep moving forward also when it comes to income if you look at them you know twenty percent they're making over one hundred thousand dollars a year and that's that's not no slouch when you look at the stereotypical basement

dwellers and nerdy kids or something like that these are professionals who are enjoying watching video games on t.v. or on the internet and watching it compete at a high level and are there any concerns within the community what the with this major influx of advertising dollars that this can sort of change the environment and change the way people interact with this well yes because what you have is when it comes to. the leagues are actually ran by the developers of these games and the publisher for the most part there are some third parties but they say right games who produces league of legends they run all the tournaments they have the big championship they put all that together but what you don't understand is they also own the game and so when they own the game they can make changes for balance you know and make it more competitive and what could happen in that situation is you know an advertiser could say hey we don't like this portion of it

you know you guys should move this and so you kind of get that you know in the in the situation of the n.f.l. for instance you know. they don't they don't create football they don't know in football well they could change some of the rules and things like that to make it more competitive it's not a game that's completely controlled by the governing body. and you know it's a fast paced thing when you're watching the games i understand in the delivery of the ads designed actually do differ in any meaningful way actually yes because the ads number one there's a lot of product placement because you're looking at say computer games they're selling computer para folds and and keyboards and other games and things like that and these kids who are involved in sports their early adopters are the first ones to get there and there are more three point six times more likely to purchase and be influenced by an ad than say a football fan interesting very interesting thanks for joining us producer here at our team erica thanks for coming on you. may have led with my chin guys promising

you a financial poem as i tell my audiences when i give speeches that i am the best i'm the best financial poet in the world i way to beat and then i tell them i'm also the worst financial poet in the world i'm the only financial poet in the world not competition or for either one of those titles so this one's on crypto currencies and here we go it's true regulators my former role we can be fools they can afford innovation they can be cruel they can say no to crip those and draw the line they could tax the value they could close those krypto minds so let's help them craft the rules suggest some basic safety and soundness tools should bad actors be fined or do hard jail time should the regs just be sort of embedded in the crypto code what if there's a hack but if things implode well we don't want regulatory overload perhaps there's a combination we'll call it regulation mode not too much not too little something strong and not too brittle regs that don't love but don't hate could make crypto

markets really great so let's find the middle ground the so-called goldilocks solution one that's just right that will take those crypto markets to extraordinary heights alright alright then. and that's it for this time you can catch boom bust on youtube dot com slash boom bust archie so long for now see you next time. you mentioned the six thirty five and you have a career and career involves using your i phone in your computer and things like that being in an office and perhaps you sort of getting to that circular t.v. you're going to have to stop doing all of this i mean this is kind of you lou the minutes must be for. my world became smaller and smaller and smaller until i ended up winning it and the box. and i were out at

a very strong magnetic field on my head in my head. think of it like a real hard pressure my skin burned and that wireless access point and it's just continuous on saying with our students in the schools. we are just continually baking our citizens in this microwave radiation it is certainly electro small and it's getting worse. well you know the hard thing we've kind of adopted because we were called pirates for so long. i mean they're in this small ball it's next to the harp on ships and it's still very. much up in. the little self to be told fish already ninety percent of it daryn got any pinball because their.

concept fifteen scoops seventy five tons torn up and they do it several times a day with a big fleet so no you get an idea on why. we have to understand we can all still use to just. be with him this will be his deal for you or. i'm doing this because i want the future world to future generations to have out and enjoy the ocean we have.

subscribed to read people also get him for just twelve euros fifty per month. a very warm welcome you are watching on t.v. international with me micky arison that is a very big day for the russian president and the world media as president putin prepares to begin his annual media q. and a with journalists from both at home and abroad what's become a traditional end of the year q. and a will this year be attended by a record number of journalists sound quite a scramble to get the front row seats in the conference hall was anticipated as our correspondent told us earlier before the conference began he's among the journalists in central moscow poised to put question.