this is boom bust broadcasting around the world and covering the world of business and finance of the impact upon all of us i'm part children washington the belly of the beast we are so glad that you're on board i can't tell you how jam packed a show we have already get to it coming up todd bubble horwitz is back on the program to tell us how average investors might be investing or how should they invest in commodities will be a boom or a bus for average investors he's standing by and we spoke about the consumer financial protection bureau many times on the broadcast well today the head of the c f p p was in the hot seat on capitol hill and became plus we asked what is the cost of beauty as the u.s. food and drug administration has confirmed that asbestos asbestos has been found in some cosmetics artie's scotty no humans will be here also artie's caleb often tells us about some cool phones that americans just can't buy no phone for you and later we pick back up on hong kong coverage from the two thousand and nineteen watching

conference with artist brunch aboard who talks with the person who is living it to them straight headlines let's go. to stimulating policy reversal at the european central bank for global report today as the e.c.b. put a hold on interest rates and plans for low cost loans to european banks remarkably the resort to stimulatory monetary measures comes less than three months after the e.c.b. ended the year as long policy of so-called quantitative easing or q.e. the e.c.b. action comes as the bank forecast half a percent less growth for the eurozone from one point seven to one point one percent this year in a press conference e.c.b. marial druggy of the president there lowered confidence produced by the trade discussions as one major factor in the move the euro fell point four percent against the dollar on the news. and staying in europe the european union apparently has abandoned a tax tech we've talked about before on internet companies the proposed three percent. would have applied to digital advertising and was opposed by four member

states the french government has pushed for the tax and french finance minister bruno lemaire lashed out at the texas opponents by name in paris mr lemaire said finland denmark ireland and sweden should be allowed to block twenty three countries from imposing a tax that they think is needed ministers will go back to the table on march twelfth and switch gears to pursue comprehensive tax reform using a proposal from the organization for economic cooperation and development as a starting point meanwhile france italy and spain are expected to move forward with their own national tech taxes. so can commodity investments be a big boom or a bust for average investors here at tell us this thought bubble horwitz above a trader who joins us from chicago land area. great to be with you again bert so you know as a guy that used to regulate these things not trade but i saw

a lot of average guys and some of them got burned i remember a guy got burned in o.j. at ice future is because he you know a place that. can be imported from other places so people could lose money but tell that generally these investors who are average investors primarily in equities that the difference between equity and commodity investing time. i think is that it's really simple firstly if you're going to be a commodity investor you're not really a trader so you're not looking to get their shorts out of the market so you can take some of these poundings that happen you know markets have crazy moves very know all markets do but in the commodity markets they can move up and there's nowhere to go so it's easier if you're going to trade commodities and invest in them which i think are a great investment is to be a buyer only and look for certain opportunities where you're willing to hold onto him you know many of the farmers today in the market are storing their grains as an investment they look at it as a bank account because the grain prices are slow is so low right now that they're

going to hold on to because they know the grain prices most likely can only arise and it's like you know looking for a value on a stock so i think reinvest hers should be looking for value plays like they do with stocks that they can hold on to these commodity contracts and again i'm a big believer in the in the actual commodity itself the cannot account for a lot of things that happen in markets and there's there's different pricing mechanism that drives these markets and is little bit to copy had to explain but they sometimes are priced awkwardly so it's easier to own the commodity because the funds and the e.t.f. do not know how to take and take those prices they will just charge the cost back to the couple busters but first let's get back to the differences so you know when you're trading a commodity as a future or is an option you're talking about the real deal the physical. thing and those fundamentals the price discovery process you know it's supposed to be based upon supply and demand right and then liquidity and trading of course but how is

that different from equities in that you know equities you know that you can go buy a stock now no limit on the demand you keep buying the things. well i think what you're looking at barter is that in the equity markets you have got you know earnings to deal with you've got companies you could have you know some internal strife within a company commodities or raw they're going to go up or down based on the true prices covering models are going to go on based on supply and demand and they're going to go on based on certain events are happening whether it be a weather event whether it be you know another event that drives these but you don't have to worry about some you know some c.e.o. doing something wrong that's in a cause the commodity fall there ross and a straight trade is fair as they can possibly be so i don't think there's any reason for anybody to go out for equities because again you're looking for a pure investment there does not the more pure than come out of these yeah i agree with you from that perspective ok well let's get to the exchange traded fund so

there's a couple of different thing for average investors there is you can get an exchange traded fund that actually trades as an equity so it could be an equity in a portfolio of companies that deal with commodities or you can get an exchange some of the mishmash out of it to focus on the real fundamentals that getting involved in the actual commodities through a futures contract or an options contract that's the better approach from your view right. best one hundred percent correct part again there's things that happen in commodities and they sometimes today's price is one and out six months from might be cheaper but when those start to roll over because you have to be moved to have expiration dates like anything else and the funds take advantage of those actually charge all those costs back to customers that are true movement if you buy the raw commodity it goes up you get paid if it goes down you there take your loss and get out or you have. all done so again you're getting true price movement and you're not worried about what's going on behind the scenes with some of these e.t.s i know

this is a little bit of a one to one for you but it's important for our investors you know we've got average people all over the world to look at this stuff so we sure appreciate you being our professor de tod bubba horwitz of bubba trading thank you todd. thanks part every day. and regular boom busters know we've spoken about the consumer financial protection bureau like often and frankly it's been pretty pathetic tale to tell for the last couple of years well today the head of the c.f. peavy cathy cranage or was in the hot seat on capitol hill bartlett naylor the financial policy advocate for public citizen there and he joins us now to tell us how heated the discussion came great to be with you thank you for being here thank you ok so this was you were telling me before the broadcast it was a hearing just on c.f.p. be imagine the democrats who now control the u.s. house were upset the republicans were saying this is what you reap what you sow but

tell us the main takeaways from the hearing you were sitting there so it's great news right from the hearing existential hearing crowd i'm sure was asked if she was a capitalist or a socialist she was clear on that she's a capitalist she was asked at the c.f.p. should exist not claire she will want agency that she's running she shouldn't church she's not sure if it should exist i will tell you something are you on the side of lenders or borrowers both my ferret exchange came from california congresswoman katie porter who asked of the difference between an interest rate an annual percentage rate as she did know the answer porter who was a law professor held up a textbook saying this is a textbook that i wrote and you're wrong on that then she gave a hypothetical about a two week loan for two hundred dollars with a twenty dollars fee in interest rate and and then handed her a calculator said can you figure out the a.p.r. of course she did she couldn't do it i think the point was the creditor came as somebody who was not have experience or background in consumer finance law and it's

pretty clear that she can even do a fundamental thing that she of course requires consumers to do if they're supposed to be literate so i think creditor while she's a genial person i think answered the question that she's both continuing the mission involving. to destroy this agency and she's simply not qualified to be there and just a history of mick mulvaney former congressman came to the trump administrator of the office of management and budget director and then did double duty as head of the c.f.p. b. until his hand selected person kathy cranage or was nominated despite some fierce opposition but got through the senate and their shoes doing so what were the main issues they took in talking about these payday loans that we've talked about before rolling back to make that more favorable for lenders and less so for consumers that's right she has proposed a rule that basically takes away all the protections for payday lending eighty percent of recipients of borrowers that payday loans are really unable to pay them back under the terms they have to take out more loans or they simply aren't able to pay them back at all she's eliminated supervision of the military lending act this

is where service members who are deployed overseas. especially hard to meet some of their payments they are preyed upon by predatory lenders and she has eliminated supervision of that area. she has eliminated the position of discriminatory lending folding into something else years retained a person high in that area who has made racist comments not not this year but in previous years so she continues the destruction of mulvaney and she's adding on a few more demolition ideas and i want to ask you i saw a really sad figure that between two thousand and seven two thousand and fourteen two thousand seven hundred forty one foresman cases were filed by c. of p.b. and only eleven last year and i know from being a regulator myself some of those were probably already in the pipeline they had to go forward with them are we really in jeopardy of letting bad actors go but go away get away with stuff here we really are and in addition to the decline and forstmann

cases the panel destitution in other words the scammer had to repay the victims they're limiting that. said set of circumstances but we're glad you're on the. jason appreciate you coming right from the hill to do this apartment naylor thank you bartlett thank you. and time now for a quick break but hang here because when we return our two scottie nell hughes fills us in on the u.s. food and drug administration confirming that a specialist asbestos for gosh sakes has been found in some cosmetics also are to scale up more often tells us about some cool phones that americans just can't buy no phone for you and archie is brought to board returns with the hong kong walk exchange card purchase where you've got a woman there who gets this only uses crypto currencies we'll see how that's going on as we go to break your the numbers at the closing bell will be back in a flash. or

consider the most city against india and the most you know month it's national and we were on the it's the first skateboard this is right this is we have pakistan is very different then. then india right now if they go on this trajectory unfortunately even not be able to be just once but it is in this speech in this speech in the stuff that for far too long because of this ongoing conflict between these two giants in the region.

the look to. go in and you may never get out of the boxes. my teenage gang rules here. want to remove. the my. blood glucose you were with me but. the navy will be very. nice seeing where i'm going to see what it. was. and now it's looking for the yeah when i'm going to use that as. well in the way that when. you do when you're in the mccain room can easily see.

the. welcome back and other global technology business news the softbank group in japan has launched another targeted tech investment fund this time for latin america the softbank innovation fund will manage two billion dollars worth of capital while a new group called the latin america local hub will assist companies infused with

softbank funds to break into latin american markets soft banks current chief operating officer marcello clore will assume the additional title of c.e.o. of soft bank latin america. the innovation funds first project reportedly be in argentina brazil colombia and mexico the innovation fund complements soft banks previously announced tech investment vehicle the one hundred billion dollars vision fund we've spoken about before. and there are some now details on a report for a much you've got to believe this amazon berkshire hathaway and j.p. morgan chase member they're starting their own health care venture well it seeks to improve health care systems and patient experiences it will be called haven and haven c.e.o. surgeon and public health expert a tool go one to outline the group's mission in a newly launched a website mr de wandy wrote quote we want to change the way people's experience health care is so that it is simpler better and lower cost investors in industry have been extremely curious and anxious to hear more about how havens deep pocketed

sponsors plan to reform social structure is why i've only only as u.s. health care system which has some in the highest cost areas in the world and we're well below of course well very well the low those outcomes they're well below world class certainly haven's three corporate partners have one point two million workers with a patchwork of different forms of levels and medical care. and claire is the american julie and cosmetics retailer and girls a younger woman is stores in more than thirty four hundred stores more of the thirty four hundred stores in more than thirty five nations around the world the company is a huge deal and well there's news today that u.s. food and drug administration has found asbestos get that as best as in some make up products here to discuss as a host of views and news of using hughes cutting the use gotti thank you for a look at this what's going on with this story well this is scary and kind of scary because involves teenage girls and make up actually scary because we're dealing with a product that has caused cancer and in products we've dealt with so much in the

industry in the past we're talking about it acquires his office sister organization justice actually to a years ago the u.s. regulators came in and said we have found as best and four of your products take care of it and. and we'll move on two years ago two years ago say have known about this in fact just this one of the products they found it in they pulled it off the shelf and put the product back on so when these regulators came back and retested guess what it was still had asbestos and it so this is very very dangerous because the girls are getting they're putting it on their face and the glitter clears and justice has removed all products that have this talcum powder on it that is basically which is the blush the glitter the good the the eye shadow but this is also kind of on the heads of johnson and johnson the problems that they're facing as they also have found to have as best as in some of their baby care products even more detrimental they hid it from the public and they majored in there now trying so they've been subpoenaed to be interesting to see claire's who's already been had financial problems they declared bankruptcy last september both of these organizations are actually covered by apollo global management who put out

a statement saying we don't believe these charges we think they're fake their midst they're just misconstruing the fibers that are in these products and here's the problem bart going forward from this it doesn't matter did you know that there's actually there is no testing required for the cosmetics industry if they can just put it out on the market when the original bill was built in one nine hundred thirty eight it has never been dated so this is literally an unregulated industry they could put whatever they want in these products and they're literally being trashed or it is there is there a step that consumers should take i mean you say there's no testing but i mean should they look for a certain type of you like in u.s.d.a. we would say don't buy this paper before if you have it throw it away what you have to use a little one of the reasons why they're able to do this is because the cheap it's a cheaper way to do it the production of it makes it cost so you get what you pay for so if you're looking at make up for your young girls make sure that you actually look on the back of the greens more light more the more importantly just go and get the same makeup that you would buy for yourselves mom's and just scale

it down a little bit probably the safest way to go boy i love that you're being on this show i was on your time here but we all bring good stuff to the table scottie who is thank you so much got to take. and there are some super cool phones on the market today and many of them do like these really neat amazing things but get this they cost less but american phones cost must then america but americans can't buy them they aren't allowed to buy them and hear stories artie's kaleb all but hey caleb grad to be with a look what are these phones what we saw while way technologies come out with just a beautiful new device the p twenty they've also got the p twenty pro this is this is an exciting new phone they've got one hundred twenty eight gigabytes of storage they've got a camera that is much bigger than the cameras on a lot of american phones we're talking twenty megapixels plus they've actually got this artificial intelligence program a computer program in the fall these are these are cutting edge phones and it's not

just a that's coming out with these new phones you've got that china has been able to churn out these kind of cutting edge smartphone devices is because the chinese communist party has made a strategic decision to align government funded research and tech with the private sector with these mega corporations and have them kind of cooperate come together and churn out really good products and it's what deng xiaoping referred to as socialism with chinese characteristics it's made a lot of people on the chinese mainland very wealthy it's alleviated a lot of poverty and it's also churning out some cutting edge smartphone technology and we've covered this before but i mean they can't can't purchase these things because the u.s. government says that they are somehow the companies that produce the phones are somehow linked to the chinese government right. well that's the thing bart so the u.s. government says look these companies are tied to the chinese military but here's the thing on that basis any country in the world could ban say apple's i phone or

are american made androids why because think about it we know that these companies are giving a backdoor to the n.s.a. that's been revealed they cooperate with the intelligence agencies all the time it's been revealed that not only have they cooperated with intelligence in cooperation with these tech companies so it's kind of absurd we all know that american tech giants are very very close to the intelligence agencies to the pentagon but yet we expect chinese companies to be a thousand miles away from the government that's that's a double standard it's pretty ridiculous we all have a little bit of time kayleigh but if you're a consumer in the e.u. or india for example could you buy these phones. well all over the world people are buying these phones in india africa has these phones everywhere and here's the thing the united states leaders kind of have it in their head that somehow that they're going to twist the arms of countries around the world and tell them not to buy phones from chua a or z t e or other corporations but it just is that's not how

the world market works if you want to if you want to do better you should make a better product and the craziest thing is that while away has actually been reaching out to american tech giants like a.t.m. t. and verizon and they've actually been trying to get together strategic partnership so that they can work together and help the american tech giants make better phones as well but because of political pressure now those strategic agreements are being canceled left and right this is this is really ridiculous it's a lot like how we we've been trying to tell european countries that they can't buy natural gas from russia that's not how the world market works if you want to do better make a better product this is this is really really absurd the chinese corporations want to cooperate with the american economy but we seem determined to twist people's arms force them off the market and shut them down you know. we're out of time but thank you so much what a great report. and thanks gallup. and we discussed cryptocurrency on

the show all the time but you could you imagine trying to use nothing but live on nothing but crypto all the time well that's what australia's jade barclay is trying to do r.t. producer brant your board managed to catch up with her at the hong kong blog chain conference and ask her about her plans for the future. i'm traveling over the next twelve week period to thirteen cities although that number keeps growing as i meet people that's over six countries and i've decided to live soley on protect currency for that period. and so you said that you prefer just your plane tickets already so plane tickets for a purchase and the majority of my commission is prepared to list world's pre-purchased all before i started i filled my car up with petrol gas as you guys call it. hard being that gets cancer it's very much because i'm not going to harm that much otherwise i've got to find

a petrol station that except scripter or rely on someone else to drive me around maybe. and i lived on the way to hand on the food i already had in my house because it turns out where i'm from which is gulf coast trail yeah it's not very critter friendly yes i've got to change that and so are have you read it like have you been doing research to try to figure out. how you know. so i've just done a few google searches i found some places in hong. and then i really feel like before i go to my next place which is singapore i do need to do a search i need to email ahead i need to find out where except script i particularly because i'm getting so hungry and i don't have time to go around asking people if they sit there when i'm hungry i just want to eat and it could be tough to do it in places like singapore where invades except a lot of cash. this year and that's true although i've heard singapore is mentally pretty good very friendly and can you tell us what cities you're planning on going

to yes sorry i came up with a mistrial it will be called cost crispin. sydney and melbourne here in hong kong singapore bali. where my forgetting sorry new york l.a. . that list today has earned two. include miami as well and we told you to come to washington d.c. washington d.c. and also a soul in korea has been the new one my in find lists are trying to do that as well . what do you expect the biggest challenge is going to be for this trip to hong kong for no for your whole trip. taxes. so i had to put up with my suitcase last night. yes attacks are tough. but also i think the top may be doing groceries. when i'm now going green with people i consciously go to a restaurant and someone else laughs or the boss someone else selects like i'm

quite limited where i say right now they have a challenge is that i say but i guess they'll tell me a lot that pop up along the way and you said you just came up with the are you just blog about this last week as you hadn't even thought about it you just said i think this is what a lot of this sorry night i've heard about when i was in london which was last month i spoke to a girl i met over there about it and we're like oh yeah that's a cool idea that's fun i think i'll do that at some point but i didn't really think too much more into it and then last week i thought right i'm going to start this before i got hung up and stopped. and. what do you do for a living general so i'm not working i'm. clearly because i'm doing so much travel. my background in property i'm looking really and asked myself within what chuang protest space i'm sorry my initial goal this job was to go to all the conferences meet people see what opportunities and route that and now i guess it's taken

a bit of a spin and this lady me down. chanda just so you know i'm told that bret offered her a free big mac coupon so we're we're really compassionate here and if jade mansion she'll be in new york during her challenge and boom bust i'll try to follow up with her there thanks very much and. boom bust it you tube dot com slash boom bust r.t. see you next time. around for cigarettes. money is the same thing as financially carcinogenic and you need to eradicate. by simply getting lighter fluid throwing it in a big pile and something i'm not buying. this is a stick. found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles

of soda every day the idea was that let's tell consumers there are the bad ones there the litter bugs are trying this way industry shouldn't be blamed for all this waste to company has promised to reuse the plastic. especially. the mountains of waste only grow while. they all. oh please. please yes to all this is all the food. loathing.

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