in this in a few sectors especially in manufacturing for example that sink into its worse in a decade this is highlighting the damage really caused by the us trying to trade war we're seeing businesses like we were who just pulled their i.p.o. filings and h.p. who also just unveiled plans of some major restructuring that will basically cut off and slash 70029000 jobs and that's a lot of people who will be on unemployment but if you take a look at this specific charge of the employment form you see where we stand today if you look at some numbers back when when the financial crisis occurred in 2008 you can see there was a dramatic drop during that time before the financial crash and then you see where we stand today as far as. the 3.5 percent so of course it's no surprise that president trump can boast where wherever he can so he took to twitter and he it's no surprise that he was touting the state of the u.s. economy saying breaking news we are doing great want to impeach your president you

know so so going into that but the federal reserve has already cut rates twice this year and it looks like people are expecting for them to cut rates once again in their meeting next week and then again in december when they meet again so people are looking at these expectation of federal the fed's cutting their rates 2 more times just this year and that's the most that it's happened in decades actually you know unemployment has traditionally been a lagging indicator so president boasting about what a strong labor market this is that's not really saying much at all so meanwhile on the trade front with president trump they're set to meet with china next thursday for their 13th on trade talks is there any improvement in their relations well the u.s. merchandise trade deficit narrowed from july to august according to this new report released today by the u.s. department of commerce but the china trade deficit looks like it narrowed down in august as exports rose to a fire much high in the u.s. increased to 10000000000 while imports declined slightly to 38900000000 this could

be kind of a good in good faith that the chinese are starting to buy a little bit more agricultural products from the u.s. but even with the latest figures imports and exports it shows that china has declined significantly since the trade war began back in 2018 a chinese to be the number one trade partner of the united states it's now number 3 so it's behind mexico and canada but this also comes as like you said the talks are going to resume next week and in or in an interview earlier today with bloomberg t.v. a white house economic adviser larry kudlow said there could be positive surprises coming out of these talks i'm not predicting i'm just saying don't rule that out there could be some positive surprises so this is really really a critical time and very important as we. reach president trumps a reelection campaign and even if a partial deal is made i'm sure the united states and china will consider it some sort of a when and that's all comes as we may be looking at another possible trade war between the us and europe this time what came out this week well the w t

o just announced the retaliatory tariffs that the u.s. will be allowed to take on $7500000000.00 worth of european goods and this is after 15 years of litigation and between airbus and boeing out of the united states trunk call this a big win even though it's been 15 years in the making that it happened during his presidency this was over billions of dollars of illegal subsidies that were taking from both sides of the u.s. call this a big one and europe had a response take a listen to what they said. the following yesterday's events to what you have to say that european union regrets the united states appears to have taken to the solution to impose additional tours or exploit this is a move between source and foremost teach us consumers companies and efforts towards a negotiated settlement more complicated the u.s. measures which will be pushing you into a situation where. so the e.u. says that they will retaliate they will also impose tariffs but they're not going

to receive that number until early next year so when they do and if they do experts say that the only way to look for a possible solution is once they've imposed tariffs and then the u.s. and europe can either start discussion or look for an amicable solution and remove the tariffs on each other is good but let's just hope that this doesn't turn into another global trade war another trade war between 2 countries the u.s. and europe european countries it's going to be a busy week next week as we unpack this america correspondent thank you so much. and with more on the macro narrative we're now joined by jeffrey tucker from the american institute for economic research so jeffrey the job numbers came out today and they were bad but not too bad the street was actually expecting a lot worse so right now it has temporarily cooled off fears of the market completely nose diving off a cliff but does this really change anything in the broader narrative especially when unemployment as we know is a lagging indicator for recession. by the way thank you for your report which

desegregated some of the data that came out you know of course the headline was enough to give trump an opportunity to tweet you know which is really all that matters i suppose the $3.00 number but actually going to start looking at it it's not so impressive and may actually illustrate something like a labor shortage in the us it's true that everybody in the us who wants a job complete romley get a job whether it's a good job whether it's to sustainable job or high wages that's another thing entirely and let's also remember that recessions are not always characterized by a high unemployment rate that's can be an indication of a better as you say recessions in economic health are really about something else that's about the capacity of an economy to create wealth and the unemployment rate can be an indicator of that in this case it doesn't look so impressive so yeah of course trump was bragging about it. he can be very confused about economic data

because it never looks at anything but the headlines i'm sorry to say and jeffrey as you're alluding to if you look under the in employment figure you see that wage growth has stalled so that wealth creation that's supposed to come with the employment may not be in the pipeline with consumers and personal spending making up 70 percent of the economy how can consumption continue to grow if wages are flat even setting aside concerns about equity and human welfare. so in the last several months what you've seen as a growing consciousness that this trade war is number one not going to end anytime soon and secondly having a huge cost to american productivity and it's starting to dawn on wall street now and thank you for playing that clip from my friend larry kudlow you know who spent his whole life defending free trade and now ism the unfortunate position of having to defend the policies of a regime that's fundamentally tarkas to

a protectionist and actually can't list in the most devastating way and trump refuses to recognize it but all of the weakness that we're seeing right now in the u.s. economy and really the global economy traces to his trade war which which is fundamentally insane and driven by a desire to bring down the trade deficit which is by the way not working more fundamentally it was trumps for you the trade war was going to be fantastic for. bringing back american manufacturing which it has not done in american manufacturing is actually extremely weak right now to the point that it's actually scary and financial markets are picking up on this and that's actually a tremendous worry everybody should be worried and everybody should be calling for godsake them into this and see and trade where they began 18 months ago you know we saw the market completely take a nosedive when the ice and manufacturing numbers came out so now the market looks red ready to poised for power to deliver another round of easing later on this

month everybody seems to be ready for the power put and for that they had to bail the entire market out but is this the new normal and should we be worried if everybody is already acclimated to this new normal where people are excited about a 2 percent yield on 2 on a 30 year and september was also like a record month for corporates where new issue and still more than $300000000000.00 for the corporates so should we be worried that the market is now getting flooded with paper. probably you know everybody expects us had to intervene which is actually slightly interesting we have a new. u.s. monetary policy that it must always be leaning against the wind the must always be countercyclical activities the question is are they going to work and live fed doesn't have a lot of room to maneuver and in fact unlike 2008 conditions are completely different now it's not clear to me at all that the fed as much power to move the markets at all and as you say yields are being driven down and down and down and there's an already you can see at a loss through the scramble for some sort of profitable return and

they're getting ever more scarce and the fed is not going to change that by driving rates down even further it's not even clear to me whether the fed has the kind of power that it once had at all in fact i don't think it's obvious to the fed if you talk to fed governors and people who work there there really is some skepticism about whether or not they can actually do much to prevent these economic trends i mean after all the economic weakness for experiences and experience and right now almost entirely traces to exhaustion of shocks related to policy on a global scale as a deputy and even the fed itself has pointed out that had nothing to do with monetary policy in monetary policy is basically incapable of bailing out a bad trade policy you know the it's a it's a bad theory and bad practice theory and bad credit is hard to take from jeffrey

tucker of the american institute for economic research thanks so much for your insight. it's my pleasure. it's been a disappointing week for equities as soft data heightened fears of a global slowdown let's see how the markets ended up over national debt molex fell 1.8 percent as its annual inflation rate decreased. percent in september the lowest since $28.00 its largest oil company rosneft has set the euro as their default currency for all new exports of crude further reducing its reliance on the u.s. dollar over in shanghai the markets were closed in observance of golden week but ahead of trying to go next week china restarted purchasing u.s. ag in a gesture of good faith but the u.s. instead threatened to instill capital control measures which included potentially delisting chinese equities some u.s. exchanges and furthermore in another escalation america's next fight with china is

unfolding in chicago where the trumpet ministration is attempting to block c.r.c. from selling train cars inside america lawmakers apparently are now concerned that subway cars made by chinese companies could potentially incorporate technology that allows c.r.c. to track the faces movements conversations or phone calls of passengers through the trains why 5 so now chinese companies are apparently guilty are proven innocent under the guise of national security employees at the chicago factory also dismissed the concern saying that they have not seen any evidence that they were working to construct these spy trains over in hong kong the stocks fell down for the 3rd week as the local government invoked emergency powers to counter street protests they enacted a ban on face masks which of protesters used to hide their faces from employers over in japan the nikkei slid 1.8 percent and black rock analysts have downgraded japanese equities now to underweight financials lead the losses after a soft u.s.

service sector survey fanned growth worries over in india the sensex bell for 5 straight consecutive sessions this week closing down over one percent lower on friday as a central bank cut interest rates in an effort to revive growth the market was disappointed though that the cut came at the low end of the range and the outlook still remains negative due to the continued downward revisions in g.d.p. estimates over in australia the a.s.x. register their biggest losses in 11 months after. a series of weak data fan fears of a global slowdown financials led the declines with the commonwealth bank of australia charged with a dozen new breaches of the law and finally the shares in south africa sank as investors shunned riskier assets as weak manufacturing data sank further prospects for growth now of a daniel at the rest of europe and america thanks christi starting in paris with the cac cat is down for this week generally what we saw was a waning in the markets around wednesday as unfavorable news about global manufacturing growth was suggested in the markets the crack fell 3 percent on

wednesday when that news is filtering out then on friday we saw some recovery in markets as a reaction to those u.s. job numbers we discussed earlier we saw that play out in frankfurt at the desks where that market recovery on friday but not enough to make up for those earlier losses leaving the dax down for the week footsie on the trend and down for the week with 3.2 percent in that big stumble on wednesday also there is an apparent bombshell in much confusion around brags that on friday is court papers filed by the johnson government seem to indicate that the prime minister is making plans to comply with the law that requires him to request an exit extension of the october 31st briggs at the line if no deal has been reached by the 19th still lots of smoke being passed around the government's position on that so we'll have to check back on that moving to the americas the. brazil is down for the week with a vol very volatile friday to close out this week the pension austerity campaign by

president bosso noro passed an important landmark as a pension cut bill passed an important vote in the 1st vote in the brazilian senate 2 more 4 votes will be required because the bill amends the brazilian constitution moving to mexico the b.m.v. is down for the week the interest rate cut from the mexican central bank last week not seeming to do the trick for this week but president men dressed as women while it was. or followed that rate cut this week with the release of a 400000000000 dollars 6 year plan to complete a list of $1600.00 infrastructure projects selected in design by private capital the proposal is a bit of an all of branch after all most famously and controversially terminated plans for a new mexico city airport the president also claim the infrastructure plan would reactivate mexico's economy which is teetering on the edge of recession and in the homestretch clip the split decision on u.s. markets as weak as the n.y.s.e. and s.n.p. trend downward for the week while the nasdaq is up by

a small margin that big one state selloff led a lot left a lot of ground to make up. and finally in canada the team is also down for the week that market got an early start to the once a slump we saw in the wake of those manufacturing numbers beginning its slide on tuesday and never really rallying after that this has been your weekly global stock market rout. time for a quick break but hang here because when we read terry jeffrey at steve may be gone but the mystery surrounding the man continues to thicken as new airplanes have been unveiled r.t. correspondent john how do you is on the hand to delve into the details of the new revelation and as we get a break here the numbers at the close. run

feel for the on that comes out of the. middle of the set up one among one of our them. of product from 82 he's not the high. of this month and. a lot. of trouble close to. a lot of those. that he is someone that we do the board.

the world is driven by dreamers shaped by one person. no dares thinks. we dare to ask. about indian by north korea and so many people because they call freedom is so important that even such a bad copy is sending. i'm not guilty to love anybody a good god i'm here to find the next guy.

who looked up live out of kenya in the human being done the infidel to feed the blood she even dumped the attempt. to deflect some of the c.e.o. of slaves to the deflection board of african slaves. that is a god to that that i got up for many observers. that he and others are going to going to see a lot about that born a lot about that that you can't buy a gun you get nothing like a. long long while unless you also on the bottom there's a bonus which alone can choke a lot older. than the one new person and later today move 100 gandhi a new normal gun to run the place christ be able to keep you know you can go to

mock you then they will join you. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics or business i'm showbusiness i'll see you then. welcome back ecuadorian president led to more of an old declared a state of emergency thursday after his plan to end fuel subsidies and weaken labor protections led to widespread protests on a national transport strike mr marino's emergency decree issued tuesday suspend some civil rights throughout the country and allows authorities to commandeer private and public property reuters reports that 350 people were arrested as of early friday afternoon elif on affiliated transport workers as well as transport

unions blocked streets and took direct action to stop those who refused to honor the strike public transportation and major ecuadorian cities and between provinces has mostly been shut down during the strike leaving many without their only transportation option since the ending of fuel subsidies the price of regular gasoline in the country has increased by 24 percent to $2.30 a gallon which still would place i quit or among the least expensive places in the world for fuel prices more dana was defiant in the face of the protest defending his fuel policy. that the possibility does not exist to change those things related to the server subsidies that were causing too much harm to the country that were distorting the economy but above all else allowed for important national resources to fall into the hands of the it does not correspond. and moving from south america to central america there is more corruption and

listen market news from honduras as a trial the 100 m. president's brother produces new allegations and evidence that president won or let . our nando's received illicit payoffs from narco traffickers in his opening statements at the trial of han antonio our nando's aka tony hernandez federal prosecutor jason richmond alleged the defendant was protected by and had access to his brother the current sitting president of honduras a man who himself had received millions of dollars and drug money bribes bribes he received from some of the largest cocaine traffickers in the world richmond specifically alleges that tony received a 1000000 dollars directed to his brother president while arlanda hernandez by alleged senate cartel boss joaquin el chapo guzman president are now and as has claimed that narco traffickers fabricated the corruption allegations because of his unprecedented battle against organized crime. disgraced pimp 2 elite global financial circles jeffrey may be dead but he is still creating an odor around his former business partners as more reporting develops on his money management

activities after his guilty plea and sentencing on prostitution charges the man of mystery described himself vaguely as a money manager for the super rich and collected friends and associates including former us president bill clinton current president donald trump former israeli prime minister who barack or lawyer alan dershowitz and celebrity chin tucker steven pinker after being jailed on a 2nd round of charges related to his alleged systematic sexual abuse of female teenagers epstein is said by his jailers to have died by suicide now revelations of the new york times are raising questions about how a convicted sex offender was able to continue adding to his fortune making 200000000 dollars over 5 years from a d.n.a. d.n.a. got a starting mine up joining us now to discuss his gripping case about mantle intrigue after death course john no john what have we learned in this latest round of reporting about how geoffrey epstein after his suppose it does raise continue to

proffer to operate well 1st of all i mean it's remarkable how even in his death the news cycle continues to. stories about how he was able to make money where he was pulling in the money and then of course now the fight that continues against him and the investigation into not only epstein's background his sordid life but those who may have been involved with him as well to answer your question so and you talked about this in the intro he was able to pull in more than 200000000 after he switched from financial services to d.n.a. research ok so the new york times we have to give the times of course credit because they sued to obtain these financial statements showing that epstein basically rebounded from 2008 when he lost a lot of money i think it was 150000000. you know from his legal problems he served time in west palm beach county jail 13 months registered as

a sex offender but nonetheless he was able and losing his biggest client last wexner but he was able to rebound with this data d.n.a. data mining before the financial crisis hit he managed his company financial trust with investments that peaked at the end of 2004 reporting more than half a $1000000000.00 in assets and then in that income more than 100000000 but then he ended up as i said it losing about 150000000 in 2008 but then 4 years later he rebounded after he took the hit after all those legal problems he created the company southern trust which is based in the u.s. virgin islands i went to the company when we were on saying tom is at that point he was already in jail he had and yet there was nobody there it was a small company maybe something like 10 or 12 employees and talking to some of the people on the island he hardly was ever there he stayed away from the offices not very big offices they were shuttered but that's where southern trust was based he

apparently according to this information worked to develop the data the d.n.a. data mining service epstein was in. with a lot of scientists he surrounded himself with scientists academic experts he had some pretty creepy ideas and wild theories right which have been reported on our t.v. and a lot of other places but over the next 5 years he was able to all timidly pull in $200000000.00 in revenue the thing about it is that it doesn't show these documents that sometimes go out and that we've been looking through doesn't show who the investors were and so there's still it's still really shrouded in mystery who exactly was working with that stain who was willing to give money to this guy who had served time in jail who was accused of all these awful things and apparently was still continuing with this life as the document says everything is the

reporting has shown so there's still even in his death a lot of mystery that surrounds his his finances so a lot of mystery here let's hope that we're closer to the victims getting some compensation to correspondent john harvey thanks so much for your insight my pleasure thank you. that's it by this time you can catch who must contact t.v. channel 321 dish network town to 80 or streaming 247 on t.v. the bt app. or you can always catch is that youtube dot com start see you next time .

make or break the entire proposition financials ation newt because without a baseline to value risk and to value time you have no basis to value this financial eyes post industrial economy whatsoever it's all basically a guessing game. pam bondi and by north it's so many people because a cop beat him he's sure that even such a bad cop be sending. i'm not hill to climb it would be a good. deal to find the next guy. who looked up live on candy in the dumb d. in philosophy and red blood she even dumped the attempt.

to deflect some or the c.e.o. thing is a deflection board for you to say. that is going to be better than i got are for many it's a. time he and others are going to going to write about that. he can bank on you probably get nothing like a. long long while the name. on the bottom is a playlist which alone can shrink not all. under one name plus an enabler knee move $100.00 gandhi the new normal i'm going to run the phrase christ didn't mean to keep you know do you then go to mock you then. join you. in 2040 you know bloody revolution to the demonstrations going from being

relatively peaceful protests to be creasing the violent revolution is always spontaneous or is it still or here i mean your list with video threw me in the. school and you go to the former ukrainian president recalls the events of $24.00. those who took part in this today over 5000000000 dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. laugh . that. will.

now seems protesters clashing with police on the streets of the ecuadorian capital as the government did choose fuel subsidies to meet the terms of an i.m.f. loan. the u.s. state department approves the sale of millions of dollars worth of antitank missiles to ukraine but the country believed to be a rich source of money scandal and political intrigue for the u.s. . plus 2 american presidential hopeful but he signed this declares war on the super rich who gets massive public support including from surprisingly facebook's billionaire found. on the streets of new york if the one percent will ever be seen as the oppressed minority.