it's the end of the week and this is boom bust broadcasting around the world and covering the world of business and finance and the impact upon everyone of us i'm bart chilton in washington d.c. and we're so pleased that you're on board with us today coming up the february jobs numbers are out for the u.s. and man oh man was there a surprise with less workers than anybody all the experts said there were a lot more not so much steve malzberg and boris rashard standing by to lend us a hand and work through the interesting numbers plus the permian basin in the texas on the gulf coast there it's really the hub of american oil but what are the plans for the areas future and why is the largest sovereign wealth fund on the planet shedding major oil interests bill hederman of the climate center for energy policy university of pennsylvania help us drill into the latest move and later is there

a bubble forming in tech commodities trader raney joins us to talk about vulnerabilities in the tech sector she's a tech crusader all of that directly ahead but first with some headlines let's go. a power outage in the midst of a fight over power leads our global report today as benno voile is hit by a massive blackout major portions of the oil rich south american nation were hit by a power outage on thursday afternoon and then on friday many schools or work places were officially shut down the minister responsible for electrical utilities luis mata domingo has blamed sabotage of electoral hydroelectric facilities at the guru dam by the political opposition for the ongoing outage self-proclaimed interim president responded to the accusation inclined the outage occurs as a push to oust the elected president nicolas maduro seems to have stalled earlier this week there were reports that two hundred armed men as well. alun soldiers were

prepared to shoot their way across the colombian border to venezuela where the opposition and their u.s. supporters seem to be seeking to create a flashpoint. and we reported earlier in the week on the united states record trade deficit but there's new news today that shows the trump trade war is continuing to harm other players official chinese to to six released earlier today show a steep twenty one percent drop twenty one percent in chinese exports for the month of february that's the sharpest drop in all of the for a summit between president trump and president g. jumping to china later this month who knows when that will happen and the endeavor talent agency has returned four hundred million dollars of capital to the sovereign wealth fund in saudi arabia in the wake of the murder of journalist and saudi critic jamal and devore led by reputed hollywood super agent ariel and man ul who only threw a party a year ago on the celebrating the kingdom who joined the blackstone group with

billionaire group ahead richard branson goldman sachs and over on the list the players who have abandoned talks or canceled agreements and investments from the saudi public investment fund or the p f the rejection of saudi capital is likely to reverberate in washington as well as hollywood because mr emanuel is the brother of former obama white house chief of staff and outgoing chicago mayor rahm emanuel and devore and the both refused to comment on reports of the return funds. and the new jobs numbers are out from the department of commerce bureau of labor just to six and a holy moley did they surprise almost everybody only twenty thousand jobs were created last month although the unemployment rate did drop to three point eight percent here discusses the managing partner at f.b.i. consulting both boris rashard and conservative commentator steve malzberg whelp and both of you steve i want to start with you to some of the commentators there yeah one hundred eighty thousand to twenty two hundred. number unexpected. very

unexpected the consensus was one hundred eighty thousand and said they get twenty thousand which is the lowest number since september of two thousand and seventeen and this is coming off of december should say january with over three hundred thousand and december with over two hundred twenty thousand so to see that twenty thousand there are very good numbers and just some of the demographics for instance you have for overall for whites unemployment ticked down for hispanics tick down to the lowest ever for them again and for men in general also ticked down the other demographics take slightly up or remain constant larry kudlow you alluded to earlier the president's economic adviser called it a fluke many of calling it an aberration i should point out though when they say the weather the last five february's the numbers have beaten expectations so it's always cold and snowy in february and i don't know if you could use the weather based on those that fact i just gave you the good points boris i mean you know this

was a big drop but even with only twenty thousand in february the three month moving average is still one eighty six hundred eighty six thousand and that includes by the way steve talked about december and january those numbers are both revised up by twelve thousand in total so boris how big a deal is this or is steve right that you know in the bigger scheme of things maybe there's not that huge thing i think this is something definitely to watch on the one hand it could be just a payback to the very strong number. for january and i agree with you that. the average is still pretty strong you know hundred eighty six thousand we're talking about the three months have or each so and clearly some of the factors could be just a temporary factors that lead to the you know strong and sharp decline and it could explain the just twenty thousand but again. it is death. we like the shutdown boris

are there other things you're thinking of temporary factors like the shutdown or a. weather i think the weather and the bad weather that happened in favor of could could have had some impact on the number for the february and again if you look the weakness in the transportation for transportation that could be related also to you know that certainty that's related to the trade talks with china if you look at the construction you know the negative the decline of thirty one thousand in construction that could be related to you know the pretty bad weather in pretty bad right other areas so i think there is quite a bit of you know temper factor that could have led. to the weak number for february but having said that again. this is sort of consistent with. you know the expectation over the slowing growth in the economy going forward i mean you know yesterday the federal reserve of new york basically they said that.

it's a new it's a new sort of a paradigm so therefore it could be related to the slowing growth in the economy i would not say that there is a reason for panic again it's just one number and but on the other hand having said that definitely people and the financial markets and the fed will be watching to see you know what happens over the next couple of months and whether there is you know a downturn in the employment going forward and steve boris mentioned briefly a couple sectors but tell us about how those sectors did construction health care transportation yeah who are the winners and losers. boris alluded to construction down thirty one thousand jobs and again people are citing the weather i should point out that even with that loss there is still up in the last twelve months over two hundred twenty thousand jobs you also had retail down six thousand leisure and hospitality remained flat no gain no loss basically and then you had the

professional business sector gaining forty one thousand jobs you had to be some positive news there that's lawyers and accountants and people of that ilk of those professions and you had education health care four thousand as was manufacturing four thousand i should point out by a back to the construction housing starts in january came out and it was up over eighteen percent when they had expected nine percent so that's maybe some good news when you look at the january housing starts way way up. thank you both so so much i love to have you back every month when we do this stuff it's always interesting what a great discussion boris rashard and steve malzberg thank you guys have a great weekend thank you to bart thank you are. ok now it's time for our global weekly market wrap up or do i love this segment the crews all over the planet look at markets and we make

a few pit stops along the way and we start as we like to start in russia at the moscow stock exchange the malts was up just a very little after three down weeks and both china and the chiang high stock exchange and the japan nikkei two twenty five and tokyo were down this week pretty interesting they were up both of those were up for three weeks in a row and moving down to hong kong to hang saying it's down it's been going back and forth this year but it's two weeks down in a row and a programming note here if you're a regular boom buster you know we've been at the hong kong block change conference all week and it ended yesterday but we'll have more interviews from that that whole event next week coming up on the program i get actually gave the keynote there remotely of course are from the studio here in d.c. but if you're interested in that i think we're going to put it up on you tube you tube dot com slash boom bust our two you can check it out there and moving to australia three hundred as is the sensex in india two weeks in

a row for both the a.s.x. and the sensex which reminds me by the way there's a reuters story today are not being caught it but just a few hours ago india's top financial crime fighting agency is reportedly and vested gating philip morris and its indian partner godfrey philips has made those marble cigarettes with those red labels for philip morris and some say that that is circumvented the ban on direct foreign investment in india will keep. lowering that for you and moving south of the all shares in south africa down as is the cac forty and the dax in europe and interestingly you know put these up and you like say why is the footsie up well it's up like this but maybe not even that much seven point just barely up there and that is of course about the continuing uncertainty about brecht and the news today that british prime minister theresa may says bracks it may never happen if member of parliament members of parliament in the house of

commons don't support her deal for a vote next week and we'll be all over that and across the atlantic down to cleves numbers when we do this every week it is just barely squeaked out into positive territory and the best but down not significantly but down and then moving up to toronto stock exchange down as is the new york stock exchange and nasdaq didn't help that news we had today i'm only those twenty thousand jobs it's rather negative news too in the u.s. and time now for a quick break but hang here because when we return bill had a minute the kleinman center for energy policy helps us drill into the latest energy move plus commodity trader tina reedy joins us to talk about vulnerabilities in the tech sector she's a tech accountability crusader as we go to break here of the day trading in the u.s. today will be back in a flash. proven

track record sponsor. doing something so. this all started we have not received any evidence that we are going for investigation of any kind we have more toward anything about. the eternity to. go in and you may never get out. of. my teenage gang rules here. then i'm not the one. who was but. maybe will be very.

nice. to listen. i know. someone. who can use the icy. welcome back u.s. based urban transportation company bird is scooting into canada to new zealand and latin america the company has unveiled new details regarding the so-called bird platform a new venture that tweaks their business model the company seems to be trying to

make money off their logistical and technology problems by developing rentable scooters through other companies bird will provide the scooters while independent operators will handle all in country operations with bird taking twenty percent of a cut from each rental charge a spokesperson for bird said that they will work with just one partner in each of the new regions of the world. and u.s. supermarket chain kroger is stumbling into the race to capture market share in the quickly shifting grocery sector the company disclosed the. latest profit report that online sales increased by fifty eight percent in the fourth quarter incredible right but wait there's more that gain was not enough to offset the reported hundreds of millions of dollars the company has invested it adapting to a changing commercial environment and kroger c.e.o. acknowledge they have their work cut out for them but traders they also agree with the company's stock falling by as much as ten percent on the news that said the company certainly does seem to be making an effort you may recall for ford that we

did not long ago about kroger partnering with u.k. re retailer ocado to develop varied methods of reaching consumers and capturing markets in the post amazon landscape and established players have been on their toes to say the least since amazon's acquisition of upscale grocery chain whole foods. and speaking of groceries u.s. big box discounter retailer cosco is upping its reputation as a labor friendly employer and catching up with a competitor by setting its minimum wage for all employees at fifteen dollars per hour the company seems to be in a mood to be generous after significantly topping expectations on quarterly profit reports competitor target has already committed to a fifteen dollar floor per wage earners amazon made a similar pledge last year though some workers complained that this simultaneous relocation a bonus incentives and stock grants resulted in a net cut in ploys wages arkansas based wal-mart is notably lags behind in the most recent adjustment to the company's minimum wage topping out at only eleven dollars

per hour. and we now shift to talk energy and there's new news today about the permian basin in the u.s. it seems a shortage of pipeline space has created a bottleneck for oil coming from the permian but things may be changing soon in the u.s. gulf coast could see some increased exports to the world markets here discuss that and more is bill hederman he is of senior fellow at the university of pennsylvania's climate center for energy policy welcome back bill thanks but because. to be here this is always so fun when we have you two former government guys chatting i love bad too so what do you make of this story i mean a lot of this is said that you know permian was sort of tapped out as far as getting product out but are things changing yeah there's a lot of signs that the geology looks better and will work longer two majors chevron and exxon mobil have both announced in their wall street meetings in the

last week or so that they have big plans for permian and exxon mobil as in that tradition is moving moving vertically and not going for production but they've got a partnership with all american pipeline to put a line at a million barrels per day so monster pipeline to get over to the coast when you look i love scary too but i love that picture the satellite picture you've seen it before at night of the permian with a huge you know it looks like it's new york city in the middle of texas there in the southern part of texas rather by houston and san antonio crazy picture but with that you think oh they're doing all this work and they're going to gangbusters but the forecast as i recall or for the permian to sort of top out in the mid twenty twenty's and then start to decline is that still on the table or make people sort of shift their view i think that at least these two major oil companies have

shifted their view that they believe there is life beyond that if you will and so my guess is the expectation is that they'll be still some growth through say twenty forty barnes and major unexpected already thinking oh that's interesting and you know you would not put in a pipeline for fifteen easily forty years ok so a big investment like that you're not going to do it just till the mid two thousand and twenty. you know that you're going to get some production out of it it's going to pay for itself over and over again yeah i think so you know if it's not their oil if there are a lot of other people developing oil there and most independents have been stepping on the brakes a little in permian but this is a very contrary in position by the majors and that's going to be very interesting you know exxon mobil about ten years ago but there is shell expertise by acquiring next c.e.o.

and so they have the same kind of chops in this is anyone else their big challenge is turning that battleship this may be unfair to ask you bill but i mean what's the sort of balance between the independents and the big guys i know there's a lot of independents there but if you ever seen any statistics on sort of the breakdown roughly. i haven't seen that recently but the independents really have generally had the majority of the production you know the majors have been focusing on the big overseas and deep water plays and this is a pretty significant change in their portfolio strategy and that's why we love having you i want to get to this last story before we get out another it's so great when you happen to be here for this day and then there's another great story in the news the largest sovereign investment fund in the world norway who would have thunk it good for norway a trillion dollars they're pouring they're pulling out of some of this investment in oil and gas exploration what's going on do you think ok so interestingly the

norway sovereign fund is largely oil and gas money and this was the money that they from other major export so they owned oil and status changed its name about a year ago to ecuador so that was start of a signal that oil wasn't as cool in no way as it once was and. basically their old production fields are trying to use for carbon dioxide. sequenced ration and other words they got the pipe they got the holes now they're trying to pump c o two into them and that way to reduce the. c o two so they've been on the business side movie mean in a contrary and direction there to move on the sovereign fund i think is it's like a we got a trillion dollars from oil maybe we should diversify that going forward and i think one is just kind of financial prudence eve diversify in and you know there is

no way by pretty deeply into the. divestment and i noticed they weren't getting totally out there just getting out of the exploration they're going to hold on to some of the big companies where they were out of time but thank you so much bill hederman thank you have a great our great weekend thanks. and we now want to talk text with someone who has sort of been a tech crusader for accountability among these big tech firms were most pleased to be joined by commodity trader tina rein hi tina oh i'm so glad we talked on the phone or i am so glad that you're here and able to talk with us there's a heck of a lot of going on with tech for the last year and a lot of the wealth it's pretty bad right we've seen tech c.e.o.'s hauled before parliament in the u.k. and before the u.s. congress and we're sort of at a key period it seems i mean they don't want to reputation like the banks have do

they. they are down and they're headed that way this is where they are the real turning point with data breaches privacy issues harassment something called. banks this is the moment when technology companies can step up and take accountability so far they have not done that it's been a lot of lip service but if you've been following the news recently the u.k. parliament called facebook digital gangsters for the way that they use privacy. the privacy breaches the way they're using our information and the way they spread misinformation so it's really a key time to see what's going to happen with these technology companies it's sort of scary i mean to think that they have all this information about us that they use it i mean we know that it's getting out there but the way they use it is just scary and we don't know when it's just it's inundating you know people just can't keep

track of it all and so you know i appreciate people like you speaking out and i wanted to ask you specifically about one area about hate speech and the spread of misinformation on some of these tech platforms not just in elections but just in general just so much bogus stuff out there tell us about you what you mentioned to me also that the deep fakes talk about both of those. so the harassment and hate speech is puller for aiding and it's actually affecting more and more users all the time this year alone by the end of twenty nineteen forty percent of users will have been affected by hate speech or harassment or misinformation either someone either yourself or someone you know and this is a real problem i mean it cuts deep into people's lives i myself experienced online harassment and it shut down my career for a while and there's nothing you can do about it the technology companies have this

immunity from really addressing it there's something called section two thirty of the u.s. code whereby platforms don't have to be responsible for what's written on their platforms now there is some talk that that might actually change which is also why some of the technology companies are sitting up and taking notice and saying you know we really have to pay attention to harassment and what's going on and hate speech and also privacy issues and you asked about the deep deep aches are something that's come online recently and we first see it only getting worse over time what's happening is you can take someone's picture and put it on a video on a photograph and it looks real and you can make that person do whatever you want this is scary i mean all of. our picture now schumer's can do what what should the tech companies do to you know we've only got about a minute but what should they do do you think. sure so the time that companies

really need to create some sort of ethics standard and then to hold themselves accountable to that standard they need to decide ok what are we going to see as harassment and then really stick to that standard and do something about it and also as people we need to the general public needs to put pressure on the to create those standards and really hold those standards and i couldn't agree with you more and we try to play our part in having somebody like you on the program to keep talking about a teetering commodity trader and tech accountability crusader that's the informal title i thank you so much tina great to see you think i have been on the program thanks fire break. and that's it for this time what a fascinating conversation that was thanks for being with us you can always catch both the you tube dot com slash boom bust archie and we hope you all have a great week and we'll see you next time next week so long for now.

they're going to. be all. to. help thank her there i don't. believe. yet this is how the poop.

oh. you know it's a really interesting duel between two dystopian nightmares brave new world in one thing anymore as they say you know you're in heaven there and that's like a brave new world where the song is essentially you're clicking on discrediting yourself and and then re crediting your soft through video games that would be more like i think brave new world the soma. digital. and then the us has more of a ninety four when i put you in an actual cell phone natural google ad with trying to buy t.v. cameras. this is this is a stick from a water bottle phone in the stomach of a fish the brand is spawns 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 was there the litter box or throwing this away industry should be blamed for all this

waste the company has long promised to reuse the plastic. seats to cookouts lose excuse. in maine that seems cool sets for something they're plastic to seek a court. date when you phones that special projects funding me. on the new best. fun now the mountains of waste only grow while. the earth was.

was. i'm. a. u.s. army whistleblower chelsea manning is back in jail after refusing to testify to a grand jury and a case against with. him as well as opposition leader blames president for an ongoing power blackout in the country while the government points the finger at washington. and those figures show young britons are turning their backs on america for their holidays we find out what could be putting them all. i can understand why people buy cars and then make sense like the guy to is probably not to my let's go somewhere that. closely.