i found out i guess he really doesn't know anything about technology again but that's been proven again all right well thanks so much for being on the cause a report. already and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guest wolf rector of wolf street dot com if you want to reach us on twitter it's kind of a report until next time by all. you know mark you know. more.

on the people. not company. but there's someone else living inside of me controlling my body. the byproduct. the drug the cause like severe depression. because it literally need him into a zombie it's crazy. you know we don't have to do anything it's not our fault you know she's crazy and all that. piers. it was you know provision on my back when i want it. or not.

oh. we've. had anybody on a month all of those in person but the pressure on us. has been. so nice as you know but it was you know. you know just i mean most. of the i mean the lord. has been up as well i must be here so this will get us on getting worse but those. people are going to spend on one of the. this where this part of the game i will my family fussy about my just but that's already yes it will be and he. just got to go you.

home. this is boom bust broadcasting around the world and covering the world of business is finance and the impact on all of us i'm partial to washington we're sure glad you're on board thanks for being with us coming up to day is the big day here for breakfast as prime minister trace of may's point went down by a whopping four hundred thirty two to two hundred two votes in parliament moments ago we break it down in the studio with hillary forward c.e.o. of the u.s. u.k. citizens plus in a rush or are they on the road to coins we'll dig deeper with our g. correspondent julie a shuffle below but ends kristie are the top founders of counterpart and later we'll look at why the u.s. is so far behind in the field of contactless credit. with art he's the artist we he

joins us from los angeles all that directly ahead but first we have some headlines let's go to. the drama surrounding chinese tech giant wall way leads our global report today is the company's founder and chief executive makes his first public remarks since the arrest of one way c.f.o. who is also his daughter the c.e.o. rens ren saying faye denied that his company has installed so-called back doors into technology for chinese authorities telling journalists on wally's corporate campus and then quote i personally would never harm the interest of my customers and me and my company would not answer to such requests mr rennes comments also balance flattery in the form of praise for u.s. president donald trump's tax policy with words of patriotism and loyalty to the chinese communist party mr rennes daughter and wa wait chief chief financial officer of mengele one zoo has been detained by canadian authorities that we've told you about why they consider

a request from the united states to extradite ms wang on charges of economic economic espionage. and turning to the towering heads of global finance mega bag j.p. morgan chase and company has turned in a record setting fourth quarter twenty eighteen earnings report that somehow manage to disappoint investors expectations can be so important as we've discussed recently j.p. reported seven point one billion dollars in profit setting a new q four record in the final report for twenty eight hundred but per share profits of one dollar ninety eight cents were well below expectations in prerelease surveys closer to two dollars twenty cents this is the first disappointing report cycle for j.p. in fifteen quarters the company's stock which overall has been down for the past year initially went down today although it came back in trading to around one hundred one dollars per share and meanwhile bad boy bank wells fargo beat which has broken beat the expectations which is rock scandals in the past by the for. take

account sales practices and those improper look improper loan charges they exceed the expectations but they did so at a cost of seven point three billion dollars they did that with stock buyback to ensure they were shoring up the company the market isn't buying it and the stock dropped a dollar thirty on the news although it has regained about half of that and trading later today the stock has been down for the last year. and china's key economic management agency the national development reform commission or n d r c it's signaling a willingness to administer economic stimulus while avoiding a repeat of past into interventions which some of termed as heavy handed the vice president of the n d r c said earlier today while there will be no quote flood like strong stimulus and b r c policy aim to ensure ensure a good start for china's first quarter of this year china watchers remain eager and perhaps anxious to know the amount of stimulus chinese planners will decide to an

act with rust after a rough estimates on the scale of three hundred billion dollars. and we now move to the latest on bret's that is british prime minister teresa mayes breaks a plan with trouts just moments ago and what the u.k. guardian called the biggest government defeat in the democratic era with one hundred eighteen defections from her own tory party her margin of defeat two hundred thirty two votes was greater then she mustered in favor of her bracks a plan for more we are pleased to once again be joined by the c.e.o. of strong marco report hilary welcome i mean this was there was question about whether or not it would pass you know they delayed it before so as you told us it didn't look good but this was pretty overwhelmingly defeat what do you think of it well you're right it didn't look good and you said she was trying to she was trials and i had said to have a day that you know this was mayday mayday the bookies had it twenty to one this would be different and so this is no surprise to almost anyone i mean there was some whole. for hang out i think what's interesting to take

a quick look back is that we all know she was a remainer originally one of the biggest mistake she made was that she loaded then cabinet the conservative party cabinet to have so many remain is that she had this satisfaction and dissension within her own party that's what's really cause this so what's happened right now is that jeremy corbyn the opposition leader the head of the labor party has called for a no confidence vote which will take place tomorrow night wednesday well that some likely actually supposed off because why because even though they don't agree with this deal and they don't really want her the conservative prime minister ministers and the democratic unionist party in northern ireland they don't want a laborite german call been a leftist government so the chances that she will i shall remain and she's a remain a so i think you're going to have more contention you're going to have more uncertainty what's looking the most likely and it's people think about maybe seventy percent

likely is that perhaps they'll be a no deal and it'll end up being something more like a norway deal what's interesting to note is that the foreign minister from germany he has recently just said just said that while we will be interesting to talk about interested to talk about the backstop and making some assurances that so i think you're going to see movement why is that coming from the germans you know as we talked about before one in seven german cars goes into england they have a vols to mount a pressure from their common you fractures in their industry with a huge trade deficit that the germans do not want to see this messed up because this is that the backbone of their economy which is always the softening and not doing well so you say that the so the you know little more than twenty four hours from tomorrow night in the u.k. to lead the new company it's good and when i looked at markets earlier you know they didn't seem to move. while the final numbers come out if you're in the. in the

u.s. but but the footsie after hours trading didn't move much and i wonder if in part it was because what you said the bookies were twenty to one against people knew this was on the prices it would have been great a surprise if this had actually pasta you know no one was shocked and also the prime minister did come out right away said she welcomed the vote of no confidence vote. no she was coming anyway but at least there was a plan i mean when markets took that huge deep dive when the first bricks that referendum passed right people were shocked yes they didn't know which way was up so this is a lot different now let me just ask you sort of the doomsday scenario you said that the no confidence vote would not pass because. it was that it was the best of bad options yes but what if it did what would it mean if there's a no confidence vote and the prime minister loses it then does that mean that there's an election yeah and then also jeremy corbyn then obviously has a much stronger hand but here's what i do think is very important is that i said

before you know no deal is better than a bad deal this is the issue this is bryan no this is rex it in name only this isn't a leave this isn't a brush that that's the big issue it is not a bracks it and a no deal you know you do know that thirty nine billion will be saved by british taxpayers if this deal does not go through and it's a no no deal so you look at all these dire predictions the chief of the callee port priss see you he has just recently said in a b.b.c. interview where they were expecting him to say there will be disaster and there will be lines and they'll be chaos he actually said we're very prepared so i think that there are dial warnings only scare tactics. being used to scare the public but you know i just wonder from a political posturing position and i get what you've been saying and what ms maes been saying you know no deals better than a bad deal or she wasn't quite with her main yes but but but well but you've said this before and it just makes me wonder hilary i mean. if you get half of something

isn't that better is that really a bad deal if you're getting a part even if you're not getting on i mean the u.k. really doesn't have much of a negotiating position here would also benefit ninety three percent of products and talked about this before you can get them from anywhere else in the world that's what the e.u. doesn't want the reason the e.u. is giving such a tough time to on the u.k. back said is because you know in the last twenty four years we've had other votes in other countries like the dutch like the danish and so what they what they fear is italy's going to want to have the same thing and that will be italy that could be even even france with these yellow vests so i think what they need to do is they're going to actually probably come back and make some more concessions even though they said that they wouldn't have egg on their face rather than lose this because once britain goes then it is just a preset a domino effect on absolutely hillary for detroit with only seventy three days remaining by or the twenty ninth we'll keep an eye on it thank you so i want your we know your shit your expertise pleasure pleasure. we're going to squeeze in a quick break here but stay right with us because when we get back well more on

that story about russia and pitt pointed out christiane i have counterpart act what she thinks about nations investing in crypto and later to talk show sweet joins us from los angeles to talk about contactless credit card as we go to break here the numbers at the closing bell u.s. stock traders seem to be striving to keep calm and carry on after the failure of preserving rex's plan with all three u.s. exchanges on our big board sporting green arrow results will be back in a flash. president donald trump is repeatedly said the u.s. will withdraw from syria it would seem he's the only one in his administration backing this move is trump in charge of his own foreign policy are john bolton and

my campaign zero actually. heard them on the sounds of. the grown man mentioning essentially. his group. did they kind of lunge for the web in one and they would have been done . as i've. never seen any contact with. any kind of went back to where they were back here they're going again fifteen feet apart at this point and that. he's gone in the country. like there's someone else living inside of me or controlling my body.

the byproduct. the drug that is the cause like some fear. because it will meet him into a zombie it's crazy. you know we don't have to do anything it's not our sins crazy and all that. here's a traumatic. welcome back here to pick up on that story about russia and bitcoin is a co-founder of counterpart at christiana chrissie o. welcome back we're so pleased to have you again thank you so i thought when i heard this first there were rumors about this story for

a few days but then with this economist the spoke about it seemed like getting a little bit more traction but i remember back in august may have been august fourteenth but august a year ago so it in seventy president vladimir putin said that bitcoin was a ponzi scheme he said a pyramid scheme or other and i know something about that i say well no it may be bad in some ways but it's not that it's not a scheme so this seems like a weird thing for the russian central bank or anybody else to be doing but what are your thoughts about it i think it is a little bit of a stretch to say that russia's will be buying ten billion dollars worth of backwind by february of this year i think that's a very big stretch considering that we know putin stands on the financial regulatory outlook of crypto currency markets and especially even earlier this month russia is actually still debating and read. ising editing its current bill on the government's official currency so i think it will be incredulous that a major government will be the first to adopt

a crypto currency of in an official capacity before that it's even hammered out as regulatory policy it's not to say that russia won't do this sometime in the future but i think this year or even next year it's a little hasty there's so many things to unpack there so. let's take a more time so one is that said russia and other countries iran and even via their pretty peeved at the u.s. at the u.s. isolationist policies sanctions. on russia and on iran and they're starting to do business outside the u.s. dollars you know in bilateral trade between the two even talking about doing sort of a u. one slash petrodollar between china and russia so this concept not in practice the concept is something that actually people sort of talked about but not in light of kryptos kryptos lend themselves to this sort of all us dollar currency

yes i think it actually has its power and i think that in the area and currently it's currently being explored by i think that they claim being adopted in official capacity by the government i think it's a little farfetched ok so we're agreed and you're the expert secondly. you mention that russia is working on rigs and i said this for a while and i wonder what you think that a lot of these countries south korea china at one point they've banned either bitcoin or crypto currency remember a couple of years it was like twenty four different countries some of them very small not much trading anyway and they actually banned the trading of these things and people said oh that's the end i said no no no they're banning it for a reason i think they're banning it because they want to get ahead of that they want to figure out what it is develop the rules and then somehow take advantage of it what do you think i think that's exactly the case they didn't ban it because they didn't like it they banned it because they feared it and they fear the currency outflows in case everybody fled to bake winstar wiring outside of the

country when in fact their brand was actually very strategic and very selective it's extremely reminiscent of when china banned google and facebook from china when in turn they developed their own internal by do a search engine and we chat social network so the ban was entirely strategic when in fact china and india are extremely proud to tell currency in fact the people's bank of china is spearheading the development of a digital r. and b. that will make money spend it completely transparent within the country india itself it's also developing its own biometric tracking system in order to digitize all its citizens currency social identity and social insurance as well we want a little bit of time but you were telling me before we went on air about that there is a water there are a lot of transactions in bitcoin in russia briefly tell us about that yes so all of the transactions on block and you can see where the ip addresses are coming out of when russia is extremely active especially in the private sectors the private sectors with the oil and energy sanctions those guys are actually spending a lot in terms of the o.t.c. and mixed online exchanges as well very interesting christiane your counterpart

next thank you so much kristie always great to have you with us. and they're striking demographic news out of japan with an official study finding that the nation's workforce will fall by more than twenty percent twenty. cent by the year twenty forty a panel commissioned by the ministry of health labor and welfare reported available japanese workers would number only fifty two point four million in twenty four and twenty forty rather that's down to down from sixty five point three and twenty seventeen the report is the latest data detail informing the debate as japanese policy makers grapple with how to manage the aging and shrinking of japanese society the labor ministries twenty eight hundred estimate shows the largest ever yearly decline in japanese population with a fall of four hundred forty eight thousand people compared to twenty seventies. and there is dire news from for coffee drinkers coming out of the commodity markets as the price of coffee craters pushing growers who are already poorly paid to

despair and ruin prices of the labor intensive product are now at a remarkable thirteen year low leading reputed observers reputable observers to warn that many stressed growers from traditional producing nations including colombia and ethiopia may simply abandon the struggle to make a profit with the stimulating crop in central america the collapse of coffee prices has intersected with the early effects of climate change to devastate small farmers in the region that climate related economic collapse has in turn made a significant but underappreciated contribution to the flow of refugees and asylum seekers from central america toward the united states. and there is a new shift in the landscape of the quickly evolving us pharmaceutical sector as major players c.v.s. and walmart part ways over prices the ninety three million customers of c.v.s. pharmacy benefits manager or p b m c.v.s.

caremark will no longer be able to fill their prescriptions at walmart pharmacy locations after c.v.s. refused to cut retailers demands for higher reimbursements according to a statement from c.v.s. wal-mart claim to have fought for the right of customers to choose where their prescription. are filled blaming care mark on the growing role of pharmacy benefit managers or p.b.s. for the market schism the arkansas based retailer statement said quote the issue underscores the problems that can arise when a p.b.m. can exert their unregulated power to direct members on where to fill their scripts disrupting patients' health care and then to that. let me ask you question do you ever get annoyed waiting in line because somebody is debit or credit card is taking a while to process while europe has a head start using contactless credit cards the u.s. is just now getting in the game artista sacher sweet is live in los angeles with

more thank you for joining us and we love to have you all the time we specially love to have you live so why is the u.s. so before so far behind in this. well good afternoon bar you know it's a great question since you're a began implementing contactless cards back in two thousand and seven and for those who don't know contactless cards are when you just you know top the card as opposed to entering it into a machine so this technology uses a radio frequency identification for making secure payments without a pen or signature so according to visa when it comes to purchases outside of the u.s. more than forty percent of transactions are happening by way of a tap now take a look at this graph here you can see globally which countries are already using contactless cards ninety percent of australia sixty percent of canada and nearly fifty percent in the u.k. and you can see that the only country behind the u.s. here is japan so specifically the u.k.

was issued the first tap and go cards by way of the barclay card in two thousand and seven and now there are reportedly over one hundred million contactless cards in the u.k. part of it sounds like the u.s. just recently switched over to the chip method you know after using that swipe technology sometimes that doesn't even work but for so long are experts forecasting what are they what do they say i mean is it going to take a long time to convert from you know we went from the swipe to the chip so to take a long time to convert to the contact list cards. well to answer that question no experts believe that there is a massive change happening here and yes financial institutions have been dragging their feet but now since they discovered more transactions happen when the tap and go method is used most carriers are convinced that this is really the way to go but i want to take you back a little bit here you may recall when the massive target breach happened with the

credit card swipe technology as you just mentioned you know the big change that happened here was in october of two thousand and fifteen and that was when merchants as opposed to banks became the ones liable for transactions for those by next year cards so of course it motivated merchants to quickly change their technology to the chip method and now craig vosburgh of master card is saying that when transit gets enabled through contact lists that usage rates go up everywhere not just in transit but in starbucks mcdonald's you get the picture here so j.p. morgan chase recently announced that all of its credit and debit card holders would be moved to contact list by the end of twenty one thousand part yes so i mean the easier it is if you can just you know tap it up there although i worry about you know security about you know tapping against something i invert that and virtually purchase something i don't want to purchase so there's that concert on my part but do you think consumers overall natasha are going to be open to that in the u.s.

after we've gone through this transformation so far. well you know only time will really tell buyer but consumers do seem to be pretty comfortable with apple pay i mean not everybody though there are those security concerns as you mentioned and that uses very similar technologies so in twenty thirteen though the u.s. did attempt to implement contactless cards and they actually failed so at that time chase was quoted as saying that there was a low number of people and merchants supporting the cards but we now know that at least the latter will be different this time around so if it means more spending we know that merchants are certainly already on board bar but of course none of it is one hundred percent secure and the tosca so great for you to cover this for us and we really appreciate you joining us from our los angeles bureau thanks natasha thank you and that's it for this time thank you for being on board you can catch boom bust as always on directv channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v.

the free t.v.'s one thirty two or as always you can catch it you tube dot com pleasure boom bust archie so long for now so you next time. someone else shows seem wrong why don't we all just don't call. me. yet to see. these things come out to me. and in detroit equals betrayal. when something find themselves worlds apart we choose to look for common ground. your officer. told you to get up off the ground in the office or begin to pay him

down. here and then freeze on the sounds of. the grown man in the christening essentially the officer who. drew his return. will wish to do away from the officer. tired of his group. the officer did a kind of lunge for the web in one's midst and then when it happened on she swung and observations didn't hit him i never saw any contact with. any kind went back to where they were so the officers back here there try again fifteen feet apart at this point and that's when the officer saw his gun and even turned three. when they came back from iraq now ho marijuana her was cocaine methamphetamine so anything that's altering trying to get us out of.

that bad mindset using a chemical that would be self medicated. i want to be dream clean and drink enough just killing myself. out of the whole apes don't drink to get drunk alcoholics drink to feel normal. that's why i alcoholics that's why a drug addict you know what they need a shot while still here still are cool under which these guys are going through to it it just needs to a. boost need to be hoped and not get pushed on by the v.a.'s ars drugs for those who need to be helped. and they just really shouldn't be looked at like numbers they should be looked at like people if they go to a veteran center for health issues be considered as someone who really needs attention. join me every thursday on the alec simon show and i'll be speaking to us from the world of politics. i'm showbusiness i'll see you then.

the reality is that. the medical model here how much her young. mother i feel. i. honestly can't even time. not company. this i was told headlines on what a tough day for the british prime minister the u.k. opposition leader triggers a no confidence vote off the tories and may suffers the biggest parliamentary defeat it.