this is a boom bust broadcasting around the globe uncovering the world of business and finance an impact upon us all i'm daniel britto in washington and kristie eyes on assignment here's a look at what's on deck for today if you feel like you may have lost track of all the drama coming out of the g. 7 summit in france don't worry because our team producer bridgeboro is here to track storylines and subplots of the surprisingly controversial conclave plus dramatic developments just keep coming in and the transfers of a trade fight but could there be cause for hope on the horizon peter schiff of you're a pacific capital is standing by to delve into the details of what a deal might look like and later is that the tried climate couldn't get any more tricky a new threat is descending upon one of the world's favorite fruits kaufman author

of bet the farm peels past the headlines and takes a look at why banana farmers are going crazy with anxiety strap yourself in and feel the g.'s because another awesome show is about to take off let's go. u.s. president donald trump claimed monday that chinese trade officials called twice over the weekend during the g. 7 summit to resume trade negotiations mr trump made the statement during the b. event and barrett's france. in the treaty. and said it to get back to the table so we'll be getting back to you want to do something. very very vanity but. the right thing to do and i care a great respect for your history will be a very positive development for the world. the us president made plenty of headlines regarding trade during the c.g. 7 whether intentional or not including 1st perspective bilateral deals with japan and the european union as well as of the ongoing trade. china our producer brendan

poor has a story. very very close to. me this is they want to be able to. report. what it was really a lot of things that happened during meetings that the group of 7 summit in france u.s. president donald trump continued his positive tone about the state of u.s. china trade talks with the exception of a moment on sunday when he appeared to admit he was having 2nd thoughts about the ongoing trade war with beijing. i just might as well have. second thoughts about everything the comment by mr trump was quickly clarified by the administration with white house press secretary stephanie grisham releasing a statement saying his answer had been greatly misinterpreted adding president trump responded in the affirmative because he regrets not raising the tariffs

higher meanwhile. a spokesperson for the chinese ministry of foreign affairs had strong words about the united states' action during the trade dispute specifically responding to a series of tweets by mr trump calling on american companies to look for alternatives to manufacturing in china which you know slowly maywood. the so-called pulling of american companies out of china is more like a political slogan than a pragmatic measure even if it happens there will surely be others to fill the gap and it is the us who will be harmed ultimately. the trade spent between beijing and washington may have taken center stage but the g 7 also brought the news that the u.s. and japan have an agreement in principle for a new bilateral trade deal u.s. trade representative robert lighthouses are in japan's economy minister russia mitsu mottaki worked out the deal on the sidelines of the event in france the deal is said to cover agriculture industrial tariffs and digital trade the deal is intended to open the japanese markets to more u.s. . products and lead to the reduction in tariffs on items like beef mr trump

addressed the prospects of the deal with japan during a meeting with egyptian president abdel fatah el-sisi so. they can be pretty sure that's what. we have caught this that the people didn't understand here there's a lot of what. we have to. be the big thing. that everybody's been robbing for 35 years. meanwhile the e.u. appears to be the next target for mr trump on trade during a meeting with germany's uncle merkel the german chancellor pushed for a swift deal to be made between the 2 parties the us announced talks and this is of great interest to us to enhance the trade relation between the e.u. and the u.s. we said we want to bring this as quickly as possible to a successful solution germany will work resolutely for this within the framework of the e.u. reporting for boom bust branches or r.t.

. and rounding up some of the other headlines coming out of a surprisingly dramatic g 7 scene that could add world leaders pledged 20000000 euros to fund the fight against human set fires ravaging the longs and mark quickly warming planet in the amazon rain forest the funds will mostly gourd to go toward making more firefighting planes available and logistical support has also been pledged last week president emanuel necron of france threatened to veto the european union spending trade deal with brazil and the other 3 members of america's story the south american trading bloc of brazil failed to protect the planet's last ball work against the rapid development of our global climate crisis into a fully realized climate catastrophe meanwhile brazilian president jebel sonora made him preface a press of efforts to take offense at the offers of international help mr bergen belsen our made a bizarre accusation of president mcconnell's quote hiding his intentions for the amazon behind the idea of an alliance of g 7 countries. and g. host emmanuel

mccrone was at the center of another controversy over diplomacy with iran iranian foreign minister zarif made a surprise visit to the summit at the invitation of the french president european and iranian diplomats had been struggling to somehow salvage a 2015 p. plus 5 p. 5 plus one nuclear agreement with iran ever since the trumpet ministration fulfilled candidate trump's pledge to renege on the agreement and renounce u.s. obligations while iran has made good efforts made efforts to show good faith despite the u.s. pullout from the agreement they have signaled in recent months that they may no longer be willing to abide by the terms when their major adversary has universal unilaterally pulled out of the pact meanwhile the trumpet ministration has melted an all out diplomatic campaign to isolate iran making the hosting and mr zarif embarrassing for a president so visibly concerned about being seen to get his way. and for more on the economic impacts of the ongoing trade dispute on global markets we are

joined by peter schiff c.e.o. of euro pacific capital peter. with all these it's just staggering we have to sort of take stock for a moment of all the things that happened from friday to monday doom and gloom then with these new tariffs on from the u.s. on china president trump going it's witter as we've come to expect now and now today president also following the script pulling back trying to dial back the tensions it's hard to get at what the real ground truth is here what is your takeaway from all of this back and forth. well you know i think trump has been dangling the prospects of this great trade deal in front of the markets and he intends to dangle it in front of voters i think in november 2020 but i don't think there's any substance so i think if you actually look at what's going on the trade war is heating up. both sides are ratcheting up their tariffs so to me he. trump is

simply trying to do damage control he's trying to talk up or maybe tweet up the markets i don't know how much longer the markets are going to buy this i mean for now they continue to trade on every tweet but at some point they have to realize that no progress is being made. and in the longer term which looks like if these tariffs that were going to be 25 percent are really going to be up to 30 percent how it all would look like this would probably last through the election how long how long could this fight last. well i mean it could last through the election i suppose until we have another president but you know i don't think there's any way that we're going to win a fight and i don't believe that china is paying the tariffs like the president says i think american consumers pay the terrorist when they buy chinese goods that are subject to the terror of now the chinese yuan has in fact lost value since the trade war began but the question is will it continue to lose value or well it

actually reverse i think eventually you're going to see the moving higher against the dollar because i think the u.s. economy if you take away all the trade noise the u.s. economy is already weakening and is headed into a recession and would be going into recession even if there was no trade war so i think the fed is going back to 0 i think they're going back to quantitative easing easing and all of this is negative for the u.s. dollar i guess to say yes to get at sort of the interest here who has time on their side here president has made bluffing you know an art form but he is talking tough now as if he feels like the u.s. has the upper hand as time goes on in this fight is that really the case here. why i've never thought that was the case you know i think that china if you look at the trade relationship between the 2 countries america has been benefiting at china's expense because we get valuable consumer goods that we can't produce ourselves they

make our lives better and we get money the chinese loan us money to finance our huge deficit so that means we don't have to buy the treasuries ourselves so that money is available for other purposes but all the chinese get in exchange for the valuable products that they supply us with is dollars that we create out of thin air and then they use them to buy low yielding u.s. treasuries or other dollar denominated debt so i think that their relationship is actually hurting and undermined the chinese economy and it's been doing that for years and i think the sooner they can wean themselves off of that relationship the better right and then turning from china to japan president trump has also gotten a lot of mileage out of just moving from one subject to another now is he wanted to change the topic to this trade deal he says he has with prime minister of japan mr then tap the brakes and said you know we were close to a deal but there may be some specifics to work out let's say they have

a deal how much does that change the power dynamic with china and offset the losses from the ongoing fight there. well i don't know i'd have to see the deal i mean i like free trade the problem is most of these trade deals don't give you free trade they're all loaded up with all sorts of gimmicks and so i doubt it i think of the united states is running record almost record trade deficits record budget deficits we have real problems that underlie our economy and none of these trade deals are going to fix it we have to get to the root cause of these problems which is excess government spending excess regulation and artificially low interest rates we need higher interest rates to encourage those savings to have the capital investment that we need. to produce stuff ourselves instead of importing it from other countries always bringing it down to fundamentals peter schiff of europe with civic capital and so much for insight. survey.

bristol myers squibb has made a big step forward with their aspiration to purchase celgene corp for $74000000000.00 by a pharmaceutical company and jan agreed monday to purchase celgene skin medicine otezla for 13400000000 dollars in all cash transaction celgene was forced to unload after the federal trade commission raised antitrust concerns regarding anti-inflammatory drugs bristol myers squibb doesn't currently have a drug to treat psoriasis such as otezla but does have an experimental drug in late stages of approval to street the street the street can stick in condition and stock price spikes more than $2.00 and a half percent on the news is saleable tesla eclipse the one i have 1000000000 dollar mark and 2018 while celgene stock price had a similar increase of 2.7 percent pushing it well above the $95.00 point. time now

for a quick break but stay tuned because when we return as if the climate kind of trade climate couldn't get any more tricky a new threat is descending upon one of the world's favorite fruits and kaufman author of bet the farm peels past the headlines to take a look at why banana farmers are going crazy with anxiety and as we go to break here are the market numbers at the close. chiclet county and i'm not.

one of them but i threw myself and it up by gail one then all but one is we're buddies and. they both go out on. one of them one night you should have an extra. put them down i don't want that i know i can't as i may as well and nation and you know that i'm looking at it yeah i am kind of whom he could see killed and he had a chicken dad's going to be made to move on to one of the men that you know enough of them both were out of the. you know world a big part of the lot and conspiracy it's time to wake up to dig deeper to hit the stories that made stream 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 taught critical thinking it's time to fight for the middle for the troops the time is now for watching closely watching the hawks. and the toyota get up off the ground serve begins again in. your game face on the sounds of men and maybe. mislead especially if you're in the bag it is your turn. it is you would switch to go away from the office or leave the joy out of this group. the obvious or did they kind of lunge for the weapon once missed and then when it happened on tree swung at the officers hands didn't hit them i never saw any contact between the 2 and the kind went back to where they were so the officers back here there try again 15 feet apart at this point and

that's when the officer pulled out his gun and aimed it on 3. welcome back greece has passed another signpost on their return to some form of financial normality prime minister kerry yako smits attack us announced on monday that the final set of capital controls still remaining from emergency measures in june 2015 will be rescinded the prime minister told parliament quote from today capital controls are a thing of the past getting just a bit ahead of actually events the greek finance minister followed up with the details that legislation making the change would be submitted to parliament on september 1st the removal of the final controls including limits on cash transfers was proposed in july by the greek central bank and has the approval of greece's financial masters and the single supervisory mechanism an instrument of the

european central bank. and jumping from the mediterranean to mexico president andres manuel lopez obrador and for energy corporations reportedly have reached a policeman a agreement over disputed natural gas pipeline projects contracts the wall street journal broke the news of the deal which the business paper said could be officially announced as early as tuesday if it holds the mexican president held up contracts with t.c. energy formerly trans canada the mexican unit of some more energy i in nova and firm aka and group of cars so of mexico are arguing that the government's terms of contracts with those companies were bad for the government and not in the public interest the owner of group of car so fame mexican billionaire carlos slim who is a supporter of mr lopez obrador and his defacto ambassador to the business community is said to have played a key role in brokering the new deal the terms will allow for the completed south texas took spahn marine pipeline to begin operations soon and lower shipping fees

to the government for using pipelines the journal says a draft of the agreement cites $600000000.00 in savings for the. government. and a new investigation found that amazon the world's largest e-commerce retailer is reportedly listing thousands of unsafe or banned products for sale legal journalist barrels contributor with america's lawyer is here with more molly sounds pretty unsettling what is the gist of this investigation. it is unsettling danielle it was conducted by the wall street journal and the paper found that more than $4000.00 products for sale on amazon were reportedly mislabeled banned or declared unsafe by federal agencies the products named in the report include f.d.a. approved items that the agency never betted like medication without child safety warnings sleeping wedges for babies that have been banned toys with potential choking hazards and they illegally imported prescription drugs among many other

items they even found more than $150.00 products that amazon itself had banned and many of the products were labeled amazon choice so the bigger story here really is how amazon handles all these 3rd party sellers that they massive network that has exploded on the scene over the years and really become too big for the company to moderate what's being sold so according to the newspaper's report amazon uses a combination of people and machines to flag products but they just can't keep up sometimes the only way to know who is selling a product is to look for the text that it's sold by amazon dot com but even then it appears customers daniels are on their own when it comes to determining if that product is actually safe so really interesting report from the wall street journal yeah it's just shocking knowing that is the biggest e-commerce retailer and then you sort of assume well if they're done larger retailers certainly have the. appropriate authorities at the federal trade commission would be making sure that the products listed there are legal and safe but you said that not only are there

also listing products that have been banned by. under their own private label charities as amazon choice yes yes. yes you know that's exactly right you've got i mean on amazon's website they've got a list of all the things that are essentially banned in the wall street journal's reporters went in there and started looking at all these different items they found some that were banned by amazon themselves and yet were still allowed to be on the web site so it is interesting that it's essentially what the wall street journal calls and enormous flea market and that nobody's really monitoring the flea market if you will that is just a bunch of people selling things and put them up for grabs and amazon sort of backpedaling a little bit now saying we're doing the best that we can you know this is just trying to make the distinction between somebody buying from the company and buying from another vendor do amazon but the company takes no legal responsibility danial for their unsafe products because technically they aren't selling it they're just providing a platform for other people to do that so many problems and disputes that are that

people may have something they buy they've got to take it up with the person they bought it from the 3rd party seller and amazon's response to this investigation was a blog post basically saying hey here's how we approved 3rd party sellers these are the resources that we investigate customer safe and it is our goal to offer safe products that are in compliance with safety standards but we're not always successful sort of what the blogs said the journal said the tech giant again operates like a flea market in response amazon did remove almost 60 percent of the products that they listed in that investigation but even if the products are legally not their problem the perception that the products sold on amazon can be trusted or may not could be trusted is a problem for the company because ultimately their name is on it while it seems like a high tech operation but i guess it's almost like a neighborhood selling wandered to the yard sale moni barely conservatives americans really are thanks for joining us. thanks daniel.

a fungus may be about to devastate and reshape. but nano market again colombian banana farmers are alarmed to discover a strain of fusarium fungus known as tropical race 4 or t r 4 in their lands the fungus 1st identified in taiwan blocks water and nutrients at the root of the plants causing them to feet will fade wilt and die researchers say t.r. for presents a slow moving but steadily advancing threat to the cavendish the most common type of banana here to sort it all out and settles down is fred kaufman author of bet the farm how food became big business 1st fred orientals here to this fungus where is it now and what is the threat it presents. daniel this fungus has been around for quite some time really for more than a decade scientists have been awaiting for it to actually hit ground 0 of banana

hood which would be south america and central america and what it was found in colombia recently everybody got a little bit hysterical we're talking about a $44000000000.00 global industry we are talking about $400000000.00 people whose primary food is a banana and again we're talking about a large swathes of the economy in south america and central america the so-called banana republics so on the one hand we've been waiting for it now it's here and now we're going to have to deal with it and how long would this take in theory it's slow moving it's just it's a fungus but once the spores essentially once you've seen the symptoms in the plant it's too late years soil is infected how long could it take for this necessarily to . cover all of the areas in the americas where were bananas are grown. that's a very tough question the truth is that we don't really know it is slow moving it is not as though we're not going to see any bananas in the stores next week or even

next year the issue is something that the banana industry has been ignoring for a long time which is that what we're dealing with is this one species of cavendish banana they are all exactly exact replicas and clones of each other and they are sterile in other words there is no way for them through the natural forms of sexual diversity to change their chromosomes to protect themselves right and the cavendish itself now correct me if i'm wrong here but i believe i read that the cavendish itself became the standard banana after a previous bly eradicated all the other varieties which were much more profitable and before that the cabbage was considered an appetizer. there are about 1500 varieties of bananas on earth there are red bananas and blue bananas and for many years really since about 1880 if we're talking about bananas in north america since 880 there was that big mike banana the gross me shell and that was the banana that

was cloned and yes in the 1950 s. an earlier strain of this same disease wiped them all out and so instead they said ok we have the cavendish it's smaller it's not quite as sweet but it is sturdy and it can handle the growing season the travel the long ripening process that makes you know that brings it to our table so yeah this is happened before there's really no excuse they've known for a long time this is coming to now there are scientists who are working on solutions that said right and i remember from another career at a time when the united states was considering deploying to syria him to kill coca plants in columbia and the citrus lobby hit the panic button to say no way this could be just a nightmare for us. i don't know the strains here but is this a strain that could also. present a threat not just to the bananas but to other other cash crops. so. is a name for maybe a 1000 different kinds of fun guy gotta love that word fun guy and some of them are

deadly to humans some of them are deadly to barley this particular one for the banana has no effect on humans it's a very different strain so there's no really no real worries there this is a different kind of beast we're dealing with. good good solid information so we know exactly how concerned to be fred kaufman author bet the farm thanks. thank you . and as the world's 2 top superpower superpowers continue to drag out their shipping spat over tariffs and trade the effects of now spread into the field of science while consumer goods have been focused on most with regard to the tariffs levied by the united states one product has caught the eyes of the scientific community live primates for research according to the south china morning post the vast majority of primates and us research labs were bred in china and that number has been steadily falling since the election of donald trump and his subsequent

tariff actions this move has faced some heat from the bio medical community with some taking their concerns straight to the top in a letter to the u.s. trade representative the and national association of biomedical physicians aired his concerns about the damage this could cause to both the scientific community and the country as a whole writing that quote the increased tariffs will firstly cause a reduction in the number and scope of vitally important u.s. based research and development products and secondly trigger a migration of u.s. research and development to china while many in this scientific community have come out against the tariffs the president has found a non likely alley peta or people for the ethical treatment of animals we have voiced support for the move as they say politics makes for strange bedfellows that's it for this time catch boom bust on you tube dot com start to see you next hour.

were. wrong. just don't. i mean the world to get to shape out these days to come out to and engage with equals betrayal. when so many find themselves worlds apart we choose to look for common ground. why a paradise with some ground turned into a round the experimentation field for agricultural chemicals we know that these

chemicals have consequences they are major irritants there's no question otherwise why would that the chemical company workers themselves be geared up and suited up locals attempt to combat the on regulated experiments that often in day you have many of these people who have one foot into the biotech pharma and the other foot in the government regulatory bodies this kind of collusion is reprehensible while the battle goes on the chemicals continue to poison hawaii and its people so one has to ask the question whether there is a form of environmental research going on in hawaii whether these companies feel they can get away with this because the people have less political power. in a world of big part of the 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 bath 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. and oklahoma judge finds the pharmaceutical giant jelled sin sin guilt see fueling the us states opioid epidemic and causing a surge in drug related deaths. johnson and johnson will finally be held accountable for thousands of deaths and addiction caused by the right to abuse triple thread tension so war in the middle east israel under a strike against their reunion troops in syria it comes just days after suspected is really drone attacks in lebanon and in iraq.