all the politics it's all business i'm show business i'll see that. 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 bart chilton we are glad you're on board coming up today trade talks continue between the u.s. and china but how internationally intertwined is the chinese economy professor richard wolfe is standing by to discuss plus yearning for a youth is a dream of many but could it soon be a reality of mali barrows joins us to figure out who is funding the new fountain of youth and later hackers try to plunder the land down under but who's behind the

breach australia may have an idea cyber security expert todd shipley a vera software joins us to analyze all of that directly ahead but first we have some headlines let's go. to an explosive international interaction of money energy and politics leads our globe report today as a trumpet ministration is accused of trying to push a deal to give saudi arabia nuclear technology without proper safeguards against possible weapons development the bombshell report was published in a congressional oversight report citing national security and ethics officials who tried to deflect the proposal from a company called i p three international the company has been led by typical carter a of former military and national security officials including former reagan national security advisor n.s.a. during the iran contra affair robert mcfarlane president trumps first an essay the famously short tenured michael flynn has ties to ip three and reportedly pushed

a plan to sell nuclear power plant technology to saudi arabia other trump officials including the deputy n.s.a. recruited by mr flynn allegedly seconded the call after mr trump fired mr flynt another company with a noted interest in selling nuclear power to saudi arabia is westinghouse electric whose parent company brookfield asset management offered a financial lifeline to mr trump's son in law. jared questionnaire. and meanwhile saudi crown prince mohammed bin solomon m.b.'s continues to make news on his tour of south asia after visiting pakistan we told you about that in in king economic deals with president imran khan mr bin solomons mr bin solomon has called upon indian prime minister narendra modi the two leaders met in new delhi earlier today inside five agreements five of them involving cooperation on energy housing tourism and anti-terrorism the chair of the saudi india busiest council said the general

strategic cooperation between the two leaders puts india in a very small group telling online business publication business today quote this type of high cooperation council exists with only the u.s. and china. the day after the state of california officially joined a lawsuit challenging president trump's declaration of a suppose an emergency and crack open the federal piggy bank without congressional approval for his famous border wall between the u.s. and mexico the trump department of transportation announced their choice to terminate a nine hundred twenty nine million dollar grant to the state's high speed rail authority and to demand that california pay back two and a half billion dollars in federal funds already received by the state on twitter president trump explicitly link the rail the rail clawback effort with the desperate for money to pay for the wall that he famously said mexico would finance among other projects california is still working on a los angeles to san francisco bullet train that projects cost has been estimated

at seventy seven billion dollars and the recently elected governor of california gavin newsome has scaled bet requests back. and the wave of labor activism among us teachers is surging again where it started and the state of west virginia this week teachers again flex their labor power within hours long strike that compelled state legislators to quickly scuttle a bill that would have paved the way. for charter schools and private school vouchers and the mountain state the president of west virginia chapter of the american federation of teachers fred albert told the proceeded press it was very clear today that the house heard our voice meanwhile in denver colorado teachers are voting this week on a contract offer from denver public schools they secured with a previous work stoppage and while the rank and file are expected to approve the new contract immigrant teachers working on visas say they were threatened with deportation by denver public schools administrators who sought to keep them from

picketing with stick eight was tricking with striking colleagues rather. and we talk about trade all the time particularly u.s. china trade but how important is the trade for china is it more important for china or for india and for the united states rather and how intertwined is the chinese economy upon not only the u.s. but the rest of the world professor of economics americas at the university of massachusetts amherst richard wolfe joins us now to discuss professor welcome and there's some really apropos news just out within the last hour the federal reserve just released their meeting notes from their january federal open markets committee meeting and in those it highlighted the risk to the economy in the u.s. economy of go forward including the possibility of a sharper than expected downturn and they know particularly china and e.u.

as potential concerns what's your reaction to that professor. well i think it's a now a sign of several months that the federal reserve unlike so many politicians is facing the reality that the american economy is not the envy of the world that the american economy is in shaky position and that the whole point of the federal reserve to raise interest rates and to pull back the enormous increase in money that it dumped into the economy after the crash of two thousand and eight it has to stop doing that our economy is too fragile if they keep raising interest rates people won't be able to afford a mortgage won't be able to afford their car payments and all the rest of the shaky card situation will collapse and so what you're seeing is the federal reserve saying in light of the troubles with china and trade in light of the problems of europe the united states is just too fragile to allow us to do what we had hoped we

could do but the frog gillett he is so serious we have to hold back it's a real wake up call for people to understand how shaky the u.s. economy actually is. and just as a note to our viewers professor wolf sort of this is said bad you know several times actually earlier this year and even late last year that that was probably what the fed should be doing so it remains to be seen whether or not they will it raise rates but certainly they're having that discussion inside that closed door meeting and those are the notes we just received an hour ago so professor is a trade deal more important for china than it is for the u.s. or is it both they both important. they're both important both countries are affected by this when mr trump started this game of applying tower f.'s of having the government directly intervene in manipulating markets something conservatives used to say they were against it set off lots of problems for china and lots of

problems here in the united states. i believe both governments now are trying to undo back away from the very problems those terrorists started but they have to save face in both countries they have to come away looking as though they did well as well as can be expected in order not to get troubles inside their respective countries here's the more important thing china is an up and coming country it knows it has to deal with the united states as the big player on the block it has to go easy it has to accommodate but it believes and the statistics supported that the wind of progress is favoring them and so they're willing to adjust to a point if mr trump crosses that point we're going to have more trouble and it will be bad for both economies. you know one of the reasons that i wanted to ask you that last question right you know which is it more important for and one hundred

percent demand make make sense for such a large economy in the u.s. they want our business but i mean there are chinese products all over the world i mean they really are doing a great job of manufacturing i mean but it's a great for all the workers but they're doing a great job of getting their products around the world so how dependent is the chinese economy save the u.s. on the rest of the world professor. well i think the reality is that the chinese understood already years ago long before mr trump became president that they were too dependent on the global market to export oriented so they commenced the process of becoming much more domestic lee focused realigning their industries to serve a don't mystic market but that takes some years to do and they're kind of in the middle of that process but you're right they are very efficient they have broken into markets across the world you can see it very starkly in the huawei company

with an executive was arrested in canada and we're trying to get the companies hurt by not getting contract with other governments the europeans won't go along they want those products because the chinese huawei company is way ahead of its rivals american and elsewhere so yes it's an economy that is hurt by all of this but they're not on the edge of disaster they will get through this they've planned for this and i just hope that mr trump doesn't miss estimate this situation and push it over that dangerous line well in that regard let me just finally ask you before we run out of time here what do you expect to get is going to happen between now and march first when those tariffs would be increased unless the president i guess seems that president trump seems to think that there's being progress is being made . is what it depends on if mr trump can get a null full of the deal out of the chinese so that he can parade as having achieved

something we will get a deal this doesn't depend on the chinese as much as it depends on the optics as our political commentators say the optics of mr trump's role in pushing the world around to make america first if the chinese give him enough and he can play that properly we'll get a deal if he doesn't get enough and he keeps going then we're going to get close to that line that pushes a trade war into something much more scary. yeah i mean it seems to me that we ever get to the real issues of. you know control patents except for a ip theft because they'll easily go ahead and buy just some more good some soybeans and some beef eccentric to pacify us if that's all it takes for a political victory in the u.s. i get you one hundred percent professor richard wall professor of economics

americas at university of massachusetts amherst thank you so much always a delight professor. glad to talk you bought look forward to the next time. and time now for a quick break but stick with us because when we return your earning for youth might be a dream for many but could it soon be a reality molly barrows joins us to figure out who is funding the new fountains of youth plus hackers try to plunder the land down under what who's behind the breach australia may have an idea of cyber security expert todd shipley of various software joins us to analyze as we go to break here the numbers of the closing bell we will be back in a flash. so

what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race this spearing dramatic development the only really i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk. and that is that. i'm just that i said to my dishes. and. so there was a build up. and they have the right decision but by then. it

was time for the little guy we knew it was. come on out of the money i don't know i don't want. to marry. mr need to. own a house when i don't have a shuttle stem and we have been down. there and you have a little warmth and you know what. a wobble. this idol of the. whole make this manufacture can be sentenced to the public will. when the ruling classes protect themselves. with the flame and larry go

round the sun be the one percent. we can all middle of the room sick. room for you or you leave the room. welcome back major corruption news out of china we're just talking about china as the former chief of the joint staff of the people's liberation army or the p.l.o. life is said is to life life in prison state news agency should while reported that conviction of general fang thing was in a military court on charges of bribery and receiving large amounts of wealth which he could not legally account for in happier times mr fang became the youngest regional commander in the p.l.o.

receiving the appointment for beijing in two thousand and seven mr frank suspected . career patron another general who preceded him on the nation's powerful central military commission is already serving a life sentence for corruption. and updating the troubles of south african energy utility aska in the first budget speech before parliament south african finance minister. and bill we got that one tito ambuhl when he announced a rescue of restructuring plan worth roughly five billion dollars over three years as we previewed here on the program eskom is now slated to be split into three smaller units including a separate transmission company which will all be loosely grouped under one new calendar of managing eskimos accumulated debt less difficult even if that's true experts say the bureaucratic transition will take some time. and across the atlantic a french court has fined swiss bank u.b.s. nearly four billion euros privy to it pursuant to

a conviction on tax fraud when damages are added the total hit on u.b.s. is a bottom line is expected to tell a four point three billion euros or almost five billion u.s. dollars while the fight is large french prosecutors had originally sought an even larger one of roughly six billion dollars u.b.s. was found by the court to have helped wealthy french clients conceal billions of euros from two thousand and four to two thousand and twelve the bank says it will appeal the ruling u.b.s. stock on the news of the fine but it has managed to tick up slightly in trading today. and seeking a fountain of youth is not just a story or a dream for many but could soon become a reality well the u.s. government has already pulled the plug on one company's controversial fountain of youth anti-aging procedure that offered to get this fill people's veins with a transfusion of young blood remember that song young blood for eight thousand dollars a leader that science behind it may be

a little murky but people are apparently willing to pay big bucks to turn back the clock legal journalist molly. contributor with america's lawyer joins us with mall with more molly this is such an interesting story thank you for looking into it i mean why did the feds put a stop to this procedure the fusions. it is such an interesting story bart and while the f.d.a. didn't call it any companies by name specifically when they issued this warning yesterday this week regulators did warn against getting transfusions of young blood they claim to provide anti-aging and other health benefits so according to business insider one of the only known companies to offer this procedure is called ambrosia they were charging eight thousand dollars for just one liter of plasma and twelve thousand for two what a bargain right the company's website now says they no longer offer that procedure due to the f.d.a. is warning and so ambrosia launches about three years ago and they had a great reception they got a waiting list they claim that infusing older patients with younger blood get up

rejuvenate organs and have these other health benefits it was offered in clinics in five different cities from l.a. all the way over to tampa and until the f.d.a. warned against it the company was able to offer it because blood transfusions listen to this are approved in emergency situations but the young blood transfusion is considered what's called an off label treatment which is an unapproved use of an approved procedure or a drug so as you were saying before there is no scientific evidence that these treatments actually help but it's not stopping people from researching it or being interested in it whether they want to be a good customer or they want to be a business that is selling something that can turn back the clock part. a couple of things one and you know the team will all be groaning when i mention this but there's a movie that with mark walberg that i enjoyed where or one of the rock stars gets a blood transfusion just because you said it's time for an oil change every once in a while which was a pretty dry scene but you know i mean it seems to me that whatever it is whether it's a transfusion or whether or not it's you know your wrinkle formula i mean what are

the business trends right ali in anti-aging technology. well sure the cosmetic industry has certainly known how lucrative this has been for a long time haven't they well lots of other companies are exploring the possibilities of financing a fountain of youth product as well including a lot of biotech companies because why age related conditions are the leading causes of death health care costs as well and this is leading to a lot of research and development of therapies that target the anti are the aging process rather and they want those hopefully successful procedures to be commercialized so i'll give you a few examples the griswold's i'm not sure if i'm saying that correctly but they're the largest plasma based manufacturer in the world they've invested more than fifty million dollars to develop and sell plasma based products pharmaceutical companies of course they're investing hundreds of millions on a number of anti-aging drugs to treat everything ride range of diseases including all timers google's parent company also invested heavily in layer of the recently

raised two hundred fifty million to use postpartum placentas that's a mouthful to delay the aging process and here finally a company called elisi in health promises a supplement aimed at boosting a certain long gemini molecule and they want to sell that like fifty bucks a month so despite all the big bucks being invested though how likely are they this is seed experts say not very it's pretty risky but even if just one company succeeds bart the results could be monumental if they find a product that can start actually targeting the aging process and you know they're going to keep trying. i know they're going to try but i don't know i think all the stuff is overrated as people could tell by looking at it a guy that has a race a race between bald to get gray ever so slightly and every young molly barrows contributor americans larry thank you miles. they start and we talk about computer hacks all the time but there has been a plunder down under as the australian government

a bit nervous and with good reason according to a two thousand and nineteen report by mall where bites the asian pacific reason region has seen an increase in mall where attacks but with really no good reason as to why the area has had more attacks compared to other areas like latin america or the middle east to shed some light on this situation we're pleased to be joined by the president of vera software todd shipley who comes to us from the beautiful reno nevada on the go and we always like to see when you're there although i know you're giving a speech in your busy but what do you make of this story down in australia well i think we have to look at the fact that the report you mention was stating then that more and more people in that space are getting connected around the world in ten in asia more and more likely candidates are becoming victims so i think that's part of it the other part too is politics around the world is becoming fair game to the hackers whether it's the nation states or not people are trying to break into these systems is be they know that they can get great information and they can get

publicity about what they've been doing in their hacks if they get that information and and publish it on wiki leaks or someplace else so there's a lot of things going on here in the australians have a reason to be afraid. todd you may have to help me out with some of the cyber term terms here but it seems to me there was a story recently about metadata where you know people's passwords would all be accumulated in one spot which made me think boy that's a really great like a treasure chest that's the beauty you know why would you go after one guy's password when you can go to a certain place we're at klia what do you think of it and is this potentially a reason why asia might be an area of more susceptible to tax. well i think so and you have to look at whether or not they've got the infrastructure to protect the data yet certainly the australian government's got concerns because they've found some weaknesses in their system and they've they're addressing those

but if you look at businesses and in small businesses that are under attack all over the world they're the ones that are right for nation of people that's stored on computers and servers by companies so there's a real legitimate problem in that that area and it's going to be a while before they can probably address it because they're just coming to terms with the fact that they're becoming the victims more so than other places in the world that have been working on this for years trying to solve it this is not you know a problem that's new any place it's just new to them right now you know this this report that i was referring to the wall where bytes report tied that talks about that really the folks that would have had the capability of doing this in australia were state actors and they talk about russia they talk about the us and and israel and china why do you think they would say that it doesn't appear that is any reason is other than being malicious and what is a state actor i mean it is it is it just

a government or could it just be you know spies give us some help. sure well state actor generally refers to the fact that there are government funded or organized group that they've got the resources to spend doing an attack and so what they think is occurring there and the reason they put in the report and they don't know is because they can't define it well enough that who's behind this it doesn't mean that it wasn't government doing it that it wasn't china north korea or russia trying to manipulate the i left or right i lever interest thinking for that game keep going. but they don't know for sure but they look at the kinds of attacks that they're very clean and good and very organized attacks versus a smaller group that may leave a lot more trail behind the identify who they are so it's very difficult for them to determine for sure who it is and that's the problem in today's cyber world we

don't know for sure. todd i don't want to take you out of where your comfort zone but i mean why would any state actor do this you know just to create mayhem you think i get i understand you're not a geopolitical expert you're a smart guy though. well i think you have to look at the fact that there are those issues that people want to influence and if it is a state actor they're trying to influence the politics in that country one way or the other or destabilize it so much that it causes mayhem where they can go in and do other things this may be a feint to something else that they're doing it maybe just trying to disrupt their so that they can go attack the military or go attack businesses so that everybody's concerned about one space and not looking in another that may be under attack so there's a lot of things the state actors could be doing and it could be an organized thing between you know multiple parties within a government that they want to influence the politics so that they can get some

benefit long term from say trade agreements or something like that that they're going to work out down the road so there's a lot of things that could be going on here that could affect these countries in this state actors have a great influence in this stuff now by changing how governments respond to things so it's a real concern worldwide. i now dub you also geo political expert todd shipley the c.e.o. of various software thank you so much hope to see you get in d.c. some days of art are a great start to this. and that's it for this time thank you for being with as you can catch boom bust on direct t.v. channel three twenty one dish network to eighty or pluto t.v. you all know that's a free t.v. app i've got on my phone channel one thirty two ers always going to hit us up at youtube dot com slash boom bust r.t. so long for now see an x. time.

it. please let us leave why it's no good keep the slime view or smear the focus off of us to do so e.j. if you want to get what. you see in the draft almost not budge because it's really the most good moment in. the you must see. you're lucky. enough to know that he was shamed when you don't let us. know what it. looked. just.

since. it's illegal it'll eat the loot. to be a potent noise that russia is ready to respond to threats but it's new hypersonic missile system stressing that it's purely a defensive weapon statements to me prompted a reaction. to threaten to retaliate by targeting western capitals with his own new weapons but a confrontational step at a confrontational speech russia was not for me anyway he got all our actions in the field you should have done soley as a response to that and so they're of a different sense not you but on. the democrat controlled committee is questioning

the night for us siding toddies off a new report reveals that washington is poised to transfer sensitive nuclear technologies to riyadh that is the wall.