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tv   Boom Bust  RT  January 29, 2019 5:30am-6:01am EST

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relish outlier ventures will join us to talk then tech and artificial intelligence plus there is new news on venezuelan tanker solace the author of venezuela what everyone needs to know joins us to talk about the crisis unfolding and the new news and later now that the government is back open that doesn't mean that our institutions have just been taking a big hit including the internal revenue service and taxpayers molly barrows contributor at american lawyers will join us all that directly ahead but first let's get some headlines let's go. a scarlet letter on saudi arabia leads our global report today as the european union prepares to officially list the kingdom among twenty three nations cited by the e.u. for official inaction on financial crimes especially with regard to terrorism the listing will impose new reviews on saudi related transactions moving through e.u. banks saudi arabia and a number of other countries will be added to the list of nations found to be
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leaving the doors to the international finance system open to criminals and terrorists in order to implement a revision of standards carried out by the financial action task force or f a t f in twenty seventeen before the brutal killing of debt and dismemberment of saudi dissident jamal just shogi in a saudi embassy in turkey last october saudi arabia was bold enough to apply for membership in f a t f missing their chance last september the new additions to the list will bring the total number of questionable countries from sixteen to twenty three in a continuing effort to diversify the struggling oil based economy the government of saudi arabia announced today they are launching a massive infrastructure project and will be seeking almost four hundred thirty billion dollars in private sector investment over the next ten years it's all part of crown prince mohammed bin solomon m.b.'s is a vision twenty thirty program we've talked about on the broadcast before which is designed to broaden economic opportunity into the field. cation health
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entertainment infrastructure in tourism one of go to when we go there now but how much might the recent geo political realities interfere with this ambitious plan joining us now is conservative commentator steve. you are not joining us from saudi arabia my friend tell us exactly what's going on what was announced today by the saudis well first of all fascinated by your lead in your story about the list that the u.a.e. you put saudi arabia on that will not help this goal and this plan they call it the national industrial development and logistics program and it's all about as you said diversification of the economy the struggling oil economy it's all you'll its energy it's its infrastructure they're going to build airports five new airports is the plan they're going to build new train routes they're going to modify existing airports they're going to have advances in their defense industry with new initiatives so they want to just diversify diversify but it's going to take
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investments so they're looking for foreign mostly foreign investments and internal local investors as well now they have to do this part because the world economic forum for instance just put out their list of one hundred forty countries ranking the economies and saudi arabia ranks forty eighth on that list and it's not getting higher it's getting lower steve if we had just sort of had a blank slate for maybe the last nine months on saudi this tale might be a different story to tell because remember m.b.'s was taking a three week tour he went to hollywood he met with president trump when president trump was there hacky he danced with us with a sword i remember some bizarre little dance never create that continent my friend whether or not you're obama in his garber trunk with a sword you don't create a member he met with tim cook he met with. he met with bill clinton he met with
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michael bloomberg met with both the bush's forty one forty three i mean he was making all this progress but given what we've seen with your market show you what's been the reaction to this new proposal so far steve well he announced the prince announced today that they have thirty seven deals now people were expecting seventy deals to be announced thirty seven deals totaling about fifty five billion dollars he talked about a belgian company and a french company he also talked about iran called the saudi oil company doing a internal local deal with the biggest petro chemical manufacturer maker in saudi arabia their number two world why they want to become the number one petrochemical producer in the world but you know what foreign investment will be the key and f.b.i. foreign direct investment but get this has gone down from two thousand and eight forty billion dollars of investment in saudi arabia from foreigners foreign
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companies foreign countries down to one point four billion in two thousand and seventeen so that's going to be a problem and shogi the way they treat women there's a new report out from amnesty international that despite the progress with women they could drive cars they could be seen in public but guess what this still being imprisoned this still being tortured and sexually assaulted in those prisons says amnesty international so publicly owned companies are going to think hey do we want to be associated with m.d.s. and his policies it's funny how you know directing murder has a negative influence on people sometimes steve while there is a fair bit of competition thank you steve. thank you very. much. and there's another downbeat announcement in the united kingdom as the nation careens toward the brecht deadline of march twenty nine just two months away sixty days tesco says nine thousand workers will either lose their job or be redeployed as the familiar supermarket chain downgrades. in-store food service including fish market and deli
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counters that will be closed at about ninety stores and run shorter hours that others tesco in-store hot food service will be eliminated entirely reprising britons of one for billiard comfort just as the nation tries to keep a proverbial stiff upper lip brecht related anxiety shares of tesco which are traded over the counter were down more than two and a half percent on the news. and a new threshold of collateral damage had been set in the escalating us china trade dispute with an apparent first corporate casualty on the chinese side of the ledger food john gin watch a state started computer chip manufacturer will cease operations to a lack of needed u.s. part three zoltan from u.s. sanctions imposed in october's those bans on use of critical u.s. made technology were imposed after the u.s. justice department accused a chinese company of stealing intellectual property from a us chip manufacturer who john jim watt was founded in february twenty sixth team
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with capital equal to more than five and a half billion dollars from chinese national and local government investment. and moving just north and west from china to russia there is an update on sanctions story in the region russian aluminum giant and global market mover roussel was officially removed from a sanctioned list by the us treasury department on sunday culminating in a compromise brokered by treasury secretary steven the new ssion which saw the sanctions lifted upon the company but not upon russian all gart all lived there or pasco roussel stock tank back in april when the u.s. sanctions went into place but has been on the rise since rising yet again today on the news. when we think of our artificial intelligence we naturally go to robo cop and we've done that on the broadcast the for everybody what talks about ai talks about sorts
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of negron the go banadir but what will they i mean in the area of finance and business here to tell us is really morale is a partner and outlier ventral i cannot tell you rumi how much i have been looking forward to doing this you are one that as scaped of the big banks we love gold and we love all the banks but you escaped and now you're doing this really cool stuff you know we've seen all sorts of problems with a high. the autonomous cars the death and feel that success. you will get there but there they have certainly had their share of setbacks so what will a. do in the future how will it help people in the area of finance go forward what do you think rumi we're actually already seen this today you can think of how many people use robin hood or betterment or robo advisors that robo is really right you have a number of platforms utilizing machine learning other ai type technologies to help improve the financial experience for people you see that's also
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a chat bots you know maybe you interact with your bank online increasingly hopefully that customer service improves again that's machine learning. continue to iterate as it interact with your bank now maybe in the she chair you know right now if you talk to alexa you may say hey alexa what's the weather in the future you can say alexa should i buy oil today or alexa sell amazon at seventeen hundred and she could execute that if the regulators allow it right but certainly the technology can get us there yeah and i was talking with somebody over the weekend who. you know they get their weather from aleck's i don't play well you could get your of weather from a zillion different places you don't need alexa you know i sort of want alexa to do more stuff but part of doing more stuff through me comes with more data and i don't mean to put you in with with goldman sachs but all the big banks collect all this data amazon they all collect data and even governments and they
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have it on individuals at the same time we sure like the fact that convenience of some companies particularly online retail example knowing what we want what we might what we might want to see and so my question is you know how do you thread the needle between too much information going out there and maybe we don't have a choice and safeguarding ourselves and some of our privacy why do you get to that compromise really. we do have a choice we do have a personal responsibility whenever we act with interact with the internet you know think about all the times you you'll see terms and conditions. agree are increasingly are saying apps where these cookies things will pop out do except the cookies and people just hit x. really quickly because they want to be able to see their content but in doing so you have to acknowledge that there's probably some type of data transmission our data acknowledgement they're saying ok you can have this and if you do that ok fine
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but you have to understand that you're participating on a world where your data could be very usable so you humans do make that choice as individuals as well as with companies and with governments now you can see and we see this already with a lot of pushback as you were alluding to with companies and governments people wanting to control their data. and this is why decentralized system such as big quien for example have become increasingly popular let me ask you i was going to do something else but i think this is even a better question i mean you look at all these startups you're looking at what's going on what are some of the most exciting things that you're seeing out there. for me the most exciting ones are those that recognize that no technology exists in isolation so i mentioned bitcoin but what is a world where you have digital assets interacting with artificial intelligence what is the world look like when you have trillions of devices now coming online and starting to interact communicate increasingly trade and transact with each other
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you know wayne gretzky the hockey player that he famously said you know i don't skate to where the puck is i skate to where it will be that's where i get excited at the convergence of technology such as with block chain and and i ot and at outlier ventures from then with that's what we're investing towards well where people should check it out and we hope that you will be with us sometime in the future because you're such a great guest i think you remember. those without wire bench take you will see again some time right thanks part take care. it's time now for a quick break but hang here because when we return we'll talk about venezuela and why the united states has a sudden urge for intervention miguel tinker solace the author of venezuela what everyone needs to know joins us in mali burros contributor of america's war will be here to look at the residual impact of the partial government shutdown on the internal revenue service and taxpayers who want to know the details of the new tax
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law as we go to break here the numbers at the closing bell we will be back to you guessed it in a flash. what politicians to do something to. put themselves on the line they get accepted or rejected. so when you want to be president. some want to. have to go right to be approached this is what the four three of the four people. i'm interested in the why. aren't.
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you going to let you know you're. going over. those whom you know most of the postal billion euros and you know it was notable to do. nothing but really you know. please them please their ways but i do my best religion as the white. house. needs them you know. this morning. these. suits and they're you know you. so what we've got to do is identify the threats that we have it's crazy to confront a shouldn't let it be an arms race in this spirit dramatic development the only really i'm going to do exists i don't see how that strategy will be successful very
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critical time time to sit down and talk. welcome back brazilian mining company valet essay the world's largest producer of iron ore is in a harsh spotlight after a dam operated by the company collapsed reportedly killing at least sixty people so far in the town of broome a dino more than three hundred people are officially missing from the dams collapse why second area dam operated by the way is reported to be at risk company's stock plummeted by more than twenty percent on the news of the disaster. and last week we reported on a scandal linking a son a brazilian president hardball scenario and suspects from the so called crime bureau death squad which is suspected in the assassination of human rights activist
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marielle franco but in december brazil's council on financial activities revealed evidence that the same presidential son slavey obolus an arrow and gauged in a common practice of employing so-called ghost employee in his state legislative office while personally pocketing his salary now the younger boy also narrow has invoked immunity privileges as a newly elected senator and ask for a hill supreme court to suspend a resulting investigation undermining the president his corruption issue but also narrow as you may recall was widely saying get rid of corruption in brazil. and event as well it's been revealed that the u.s. vice president mike pence directly told opposition leader and self-proclaimed interim president one that the u.s. would support his self designation as a present president of the oil rich nation mr pence gave the green light in a phone call the night before mr blotto claimed the presidency according to the wall street journal u.s. support for overthrowing the venezuelan government has been clear since two
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thousand and two but the latest revelation of u.s. stagecraft may have barest nations that rush to second the so-called recognition of mr good doe a significant regional exception is mexico where president andres manuel lopez obrador up held a longstanding mexican policy of anti interventionism on sunday the newly self-proclaimed president asked the bank of england and u.k. prime minister to race a may to seize gold estimated at one point three billion dollars in value held by the venezuelan state in the bank of england loss of access to the funds would deprive venezuela's central bank of sorely needed resources and within the last hour the trumpets ministrations announced new economic sanctions placed upon said country venezuela and their oil infrastructure in order to pressure venezuelan president nicolas maduro to give up power the sanctions include seven billion dollars in oil related assets and an estimated eleven billion dollars of potential oil exports here to help us out on venezuela is the author of venezuela what
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everyone needs to know professor at pomona college miguel tinker a solace professor thank you so much for being with us i've heard you speak on this eloquently in the past hour so please you spent a little time with us i mean when the u.s. and some other nations threw their weight behind the opposition leader mr good term president it really created an international chasm with the u.s. and the u.k. we just spoke about the bank of england and gold on one side and then russia china turkey cuba bolivia supporting nicolas maduro the. is there as president just inaugurated to another secure term on the tenth what do you think are the conditions which led the u.s. and others to really take this position at this time. well i think they were afraid of my little being able to consolidate his position particularly since he was just been sworn in and it's very clear this is being orchestrated internationally the opposition in venezuela have given up on any internal strategy so that they are
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looking for the u.s. and they're looking for regional allies to help them transition and housemother little that's only possible because there's been a dramatic change in elections in latin america this would not have been possible five years ago when you had dilma rousseff in brazil or the carters in argentina or elsewhere so they really are tying this to the change in government in the region at the same time to the fact that the opposition has now abandoned any internal strategy and really is relying on international pressure. bring them back into power professor i mean it's so weird to me here you have donald trump you know known isolationist you know maybe we're going to pull out a nato maybe we don't like other international organizations he didn't go to davos last week last week at the world economic forum all of a sudden now he's got a real interest in insurgency i mean whether or not the duros right or wrong i mean
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you know you write about it the people of surely been suffering under the door oh but you know what is it about venezuela about the economy it seems right now we're going from bad to worse in the country. right well this is purely ideological at many levels undoubtedly venezuelan oil is a factor it has the largest reserves in the world but this is ideological this is being led by marco rubio senator from florida is being led by john bolton also an idealogue national security advisor is being led by mike pump a o. and out we have elliott abrams. ns the man who supported death squads in central america and was indicted and found guilty of lying to congress as the representative of the u.s. on venezuela so that again this is being run by a series of individuals who see it as an ideological issue and who see as important in consolidating u.s. had germany in latin america because you've had such an important change with again
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the conservative forces winning elections almost everywhere in latin america except mexico a little white professor let me ask you i mean at the elections spend so problematic and full of fraud that just presidents have not been essentially legitimate in some pumps eyes for for a long time i mean what is it about specifically that majority has been doing that so troublesome for the u.s. u.k. and others. well the election the opposition on many occasions has decided to boycott the elections they have decided that the way to deal it to make my little is to not participate in the election therefore denying him a claim of legitimacy they did that in two thousand and five in the national assembly elections giving chavis the majority a super majority in the national assembly there did they did the same thing. in the last election for president in twenty eighteen on may twentieth when there was an opposition candidate name had already filed the opposition decided not to support him and the more right wing stalwart opposition decided to again not participate
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boycott deal now having said that my little did make some very important stakes he did disqualify candidates there was question the fact that anyone who is an incumbent has the privilege of being the income but it was not always fair but i was point out when chavez ran in one nine hundred ninety eight the system wasn't fair either and he was able to win so i think the most important thing would have been to participate in the elections and then if there was fraud to gather that information and proceed not to boycott they opted to boycott and now. they claim illegitimacy boy you're a speaking from my personal songbook you know work from within the system to try to change it just don't be on the outside this is going to be continuing i sure hope you'll come back because you're eloquent and you've educated educated all the boom busters miguel tinker so last thank you so much appreciate your time. thank you.
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although the u.s. government shutdown the partial shutdown is over the ramifications from it are not the internal revenue service is now playing catch up on processing income tax returns people waiting for their refunds and waiting through a lot of changes from the president's sweeping tax code overhaul approved by congress last year legal journalist molly barrows contributor with america's lawyer is here now with more molly what's going on with the i.r.s. now that they just started back to work today. hey bar yeah this shutdown really couldn't come at a worse time as far as timing months lot happening with the i.r.s. busiest times and now they are rushing to process this backlog of tax returns while facing another uphill battle numerous challenges including facing millions of unanswered taxpayer letters as well as being weeks behind on training and hiring new employees for the tax filing season more than forty five thousand employees who
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were furloughed during the partial shutdown were also called back to work without pay to help them catch up but many didn't show up and you can't really blame them if the narcan paid so it's going to take some time to get things working smoothly again now that everybody is back to work well the government watchdog group that oversees the i.r.s. the national taxpayer advocate says that is going to be a long process that the i.r.s. they expect will need at least a year to recover from this shutdown and return to normal so in the meantime that could cause delays in processing tax returns as well as the confusion as you mentioned earlier created by last year's tax overhaul which has leaves the i.r.s. as well as taxpayers a lot of questions and they could see in fact taxpayer smaller than expected returns because of this confusion and just a lot of questions about duction because that some of the biggest changes that were included in that overhaul lowered individual income tax rates doubled the standard deduction eliminated or kept many personal exemptions and tax breaks state and local taxes action so for many folks who didn't change that amount that was
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withheld and they're basically left from their paychecks last year they may not get as much in their refund and there could be a lot of people who are disappointed the treasury department now says projects that about four million more filers will have a balance to pay on their taxes this year and four million fewer will receive refunds compared to last year so these changes are resulting in some confusion not to mention coming back from the shutdown so you know the lack of clarity over what traditionally been an infusion of cash into the economy is adding a little bit of layer of uncertainty in financial markets as well so they are as has a little bit of a challenge ahead bart thank you for land the land up there he. molly the tipping point to me on friday when the president sort of caved on the shutdown was the air traffic controllers the flight attendants and they started canceling flights in the northeast u.s. corridor you know there was a real safety issue what do you what do you think what do you think he gave at least temporarily you know you're right i think that had to play a big part in it but the pressure is really been building on several fronts you
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also had the end of the shutdown isn't that an awesome distraction to roger stone being arrested by a special prosecutor robert mueller also the same out of touch comments by commerce secretary wilbur ross who suggested those furloughed federal federal workers should take out a loan i'm sure he didn't offer to cosign and also the commerce department one of the seven departments affected by the shutdown they keep track of a lot of data everything from housing to labor statistics and that's what the fed uses to make decisions the fed is meeting this week if the shutdown had not ended none of that data would have been available so he was stationed a lot of pressure on multiple fronts thank you molly barrows contributor america's lawyer thanks molly. and then by all for joining us that's it for this time you can catch boom bust on you tube dot com slash won't r.t. so long for it oh.
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u.s. veterans who come back from war often tell the same stories. were going after the people who were killing civilians they were not interested in the wellbeing of their own soldiers either they're already several generations of them so i just got this memo from the circular defense off that says we're going to attack and destroy the government and seven countries in five years americans pay for the walls with them money others with their lives if we were willing to go into harm's way and willing to risk being killed for a war and surely we can risk some discomfort an easy nice piece. for the san.
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that i don't want to show but there are rather tough i thought the four thought that if. i'm going to let combat of i don't cut and then you cut and kick and. and flew to china for all that and. it never worked out. then hi michelle to tell. them best. it's hole full. time in syria has said. a. mile farther and in africa will fuck around with mr hates it for jim and then i
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hope that our freedom in your class. join me every thursday on the alex simon chill and i'll be speaking to guests of the world of politics small business i'm show business i'll see you then. you know world of big partisan law and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter 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.
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will continue to use all of our diplomatic and economic tools to support into. how . the us. company.

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