there's the holes in the wall. this is boom bust broadcasting around the world and covering all aspects of our global economy in the 21st century funding o.b.o. and i'm christiane washington here's a look at what we have in store for today the global economy continues to chill as recent data paints a gloomy picture just over the horizon r.t. correspondents on thursday oka and jeffrey tucker of the american institute for economic research joins us show to sift through the stats and what that could mean for the market well it's just what you have seen may be gone but the mystery surrounding the man continues to begins as new earnings have been unveiled archie

correspondent john king is on his delve into the details of the new revelation to get into a bit of the business mindset let's go. the september jobs report is out and the numbers show a tight labor market as the unemployment rate dropped to a 5 decade low the top line data looks good with 10 industries adding jobs 3 losing and one unchanged alleviating some concerns on the street and boosting the markets today but let's take a closer look the payroll report was rather stagflation area as wage growth was flat stagnating and posting the worst annual growth in one year if we take out government jobs private payroll added only $114000.00 jobs which is the 5th lowest private jobs in the past 3 years and finally if we take a look at the composition of job gains that wasn't so great with only low paying jobs in education and health category at the top meanwhile you have a decent ration of wages in high tech which previously was the fastest wage growth and this all come. the world's 2 largest economies remain in

a tit for tat trade war with no solution in sight heading into the 13th round of trade talks next week so with this mixed bag report expectations for an october rate cut declined to just about 75 percent from 93 percent. and here to dive into the details with us is our 2 correspondents are more into this deal go sarah welcome back you know these numbers that we got out today what are the projections look like generally perhaps more importantly how did they do compared to expectations alterations going according to the u.s. bureau of labor statistics so to stix the unemployment rate did decline to 3.5 percent last month this is the lowest since december of 1969 so again but the non-farm payroll increased 513-6000 now we're seeing this in a few sectors especially in manufacturing for example that saying into its worst in a decade this is highlighting the damage really caused by the u.s. china 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 so that's a lot of people who will be on unemployment but if you take a look at this specific charge of the employment non-farm 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 feds 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 13 for 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 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 a trade war began back in 2018 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 trump 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 those welcomes us we may be looking at another possible trade war between the u.s. and europe this time what came out this week well the 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 trying 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 win and your pattern 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 the decision to impose additional tariffs or you export this is a move that's really serious and foremost teach us consumers and 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 he has temporarily cooled off fears of the market completely nose diving off a cliff but does this really change anything in the broader narrative specially 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 numbers 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 'd impressive in may actually illustrate something like a labor shortage in the u.s. it's true that everybody in the u.s. 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 trumpet was bragging about it. he can be very confused about economic data because it never looks at anything but the headline seems hard 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 is 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 capitalist 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 it'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 powell put and for the fed 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 sell 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 and 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 takes 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 the molex fell 1.8 percent as it's a new one. decreased to 4 percent in september the lowest since 20 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 or until proven innocent under the guise of national security employees at a 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 mass 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 belfour 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 a. months after a series of weak data fan fears of a global slowdown financials led the declines at 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 with the rest of europe and america thanks kristie 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 day 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. 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

to more for 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 mentor. i mean one of those obama dollar 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 we actually be mexico's economy which is teetering on the edge of recession and in the homestretch clits 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 ones to sell off what a lot left a lot of ground to make up and finally in canada that 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 wrap. time for a quick break but hang here because when we return geoffrey at sea may be gone but the mystery surrounding them and continue to take in as our names have been unveiled correspondent john how do you is on the handed down into the details of the new revelations and as we get a break here the number. one

round up of the vote on that comes out of. the set of one of them. product or 90. not the high. end of the set on monday and the i don't. want some totally unknown to me. that the it is and when we do. back geysers financial survival guide. housing.

oh you mean there's a downside to artificial mortgage don't get carried away that's cause report. welcome back ecuadorian president lending more and old declared a state of emergency thursday after his plan to end fuel subsidies and weaken labor protections led to widespread protests and 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 at 350 people were arrested as of early friday afternoon now with an 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 i could dorian 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 ecuador. among the least expensive places in the world for fuel prices morton was defiance 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 her no end president's brother produces new allegations and evidence that president on our lead 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 in drug money bribes bribes he received from some of the largest cocaine traffickers in the world richmond specifically allege that tony received a $1000000.00 directed to his brother president while the orlando hernandez by alleged cartel boss joaquin el chapo guzman president or nando's has claimed that narco traffickers fabricated the corruption allegations because of his unprecedented battle against organized crime. disgraced him to 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 system. medic's 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 $200000000.00 over 5 years from a d.n.a. d.n.a. data starting mine up joining us now to discuss this gripping case about mental intrigue after death is our correspondent john harvey now john what have we learned in this latest round of reporting about how jeffrey up steam 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 generate 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 abstains 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 end up as i said a lot at losing about 150000000 in 2008 but then for. 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 scene tom is at that point he was already in jail he hadn't died 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 out of he apparently according to this information worked to develop the data and the d.n.a. data mining service epstein was involved in what a lot of scientists he surrounded himself with scientists academic experts he had

some pretty creepy ideas and wild theories 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 to mentally 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 they're still it's still really shrouded in mystery who exactly was working with them steen 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 still a lot of mystery here 'd let's hope that we're closer to the victims getting some

compensation correspondent john harvey thanks so much for your insight my pleasure thank you. that's it by this time you can catch boom bust on direct t.v. channel 321 dish network 280 or streaming 247 on the t.v. the free t.v. ads. or you can always catch is that you tube dot com slash. see you next time. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race is often spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk.

about me and by north and so many people because a cop beat him you sure that even such a bad cop be sending. i'm not feel too good to me would be a big. deal to find the next guy. who looked up live on the indian approving done deal and fell to feed the dog she went on plenty of. the deflection move toward the c.e.o. thing is the deflection board is comfortable saying. that is a good thing that when i got off the brilliance of.

time he and others are going to write about that on the board. that you can bank on that nothing like a. long long while and then he goes along the bottom the shopping list which alone can shrink not only. handle one new person and lead to any move 100 gandhi the new normal i'm going to run the phrase christ be really good no to you then going to mock you then damon join you.

protesters clashed with police on the streets of the ecuadorian capital as the government scrapped 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 with the country proving to be a rich source of money scandal and political intrigue for the united states. and american presidential hopeful bernie sanders declares war on the super rich and gets massive public support and perhaps more surprisingly from facebook's billionaire founder mark zuckerberg people in new york if the one percent will ever be seen as an oppressed minority. of france.